Lithium Corp Files Q3 2024 10-Q Amendment
Ticker: LTUM · Form: 10-Q/A · Filed: Jan 15, 2025 · CIK: 1415332
Sentiment: neutral
Topics: amendment, 10-Q, mining
TL;DR
Lithium Corp amended its Q3 2024 filing. Updated financials are in.
AI Summary
Lithium Corp filed an amended 10-Q for the period ending September 30, 2024. The filing, dated January 15, 2025, provides updated financial information. The company's principal business is metal mining, with its headquarters located in Elko, Nevada.
Why It Matters
This amendment provides updated financial and operational details for Lithium Corp, which is crucial for investors and stakeholders to assess the company's performance and outlook in the metal mining sector.
Risk Assessment
Risk Level: medium — As a metal mining company, Lithium Corp is subject to commodity price volatility, operational risks, and regulatory changes.
Key Numbers
- 20240930 — Reporting Period End Date (The end date for the financial reporting period covered by the 10-Q/A.)
- 20250115 — Filing Date (The date the amended 10-Q was filed with the SEC.)
Key Players & Entities
- Lithium Corp (company) — Filer of the 10-Q/A
- 0001415332 (company) — Central Index Key for Lithium Corp
- Elko, NV (location) — Business and mailing address city and state
- Utalk Communications Inc. (company) — Former company name
FAQ
What is the primary business of Lithium Corp?
Lithium Corp's primary business is metal mining, as indicated by its Standard Industrial Classification code [1000].
When was the period of report for this 10-Q/A filing?
The conformed period of report for this 10-Q/A filing was September 30, 2024.
What was Lithium Corp's former company name?
Lithium Corp's former company name was Utalk Communications Inc.
Where is Lithium Corp located?
Lithium Corp's business and mailing address is located at 1031 Railroad St. Ste. 102B, Elko, NV 89801.
What is the SEC file number for Lithium Corp?
The SEC file number for Lithium Corp is 000-54332.
Filing Stats: 4,584 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2025-01-15 13:59:47
Filing Documents
- ltum_10qa.htm (10-Q/A) — 750KB
- ltum_ex311.htm (EX-31.1) — 12KB
- ltum_ex321.htm (EX-32.1) — 7KB
- 0001640334-25-000090.txt ( ) — 3083KB
- ltum-20240930.xsd (EX-101.SCH) — 32KB
- ltum-20240930_lab.xml (EX-101.LAB) — 178KB
- ltum-20240930_cal.xml (EX-101.CAL) — 36KB
- ltum-20240930_pre.xml (EX-101.PRE) — 152KB
- ltum-20240930_def.xml (EX-101.DEF) — 70KB
- ltum_10qa_htm.xml (XML) — 363KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3 Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.
Controls and Procedures
Controls and Procedures 28
- OTHER INFORMATION
PART II - OTHER INFORMATION 29 Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30
SIGNATURES
SIGNATURES 31 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Our unaudited interim financial statements for the three month period ended September 30, 2023 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. LITHIUM Corporation Balance Sheets ASSETS September 30, 2024 (unaudited) December 31, 2023 CURRENT ASSETS Cash $ 3,195,599 $ 3,667,617 Marketable securities 77,613 332,082 Deposits 700 700 Prepaid expenses 4,050 22,850 Total Current Assets 3,277,962 4,023,249 OTHER ASSETS Equipment, net of accumulated depreciation 15,487 20,986 TOTAL ASSETS $ 3,293,449 $ 4,044,235 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES CURRENT LIABILITIES Accounts payable and accrued liabilities $ 10,773 $ 8,386 Accounts payable and accrued liabilities - related party 31,807 26,489 Allowance for optioned properties 2,191,102 2,191,102 TOTAL CURRENT LIABILITIES 2,233,682 2,225,977 TOTAL LIABILITIES 2,233,682 2,225,977 Commitments and contingencies STOCKHOLDERS' EQUITY Common stock, 3,000,000,000 shares authorized, par value $ 0.001 ; 117,892,441 and 117,892,441 common shares outstanding, respectively 117,893 117,893 Additional paid in capital 8,948,385 8,948,385 Additional paid in capital - options 1,011,639 957,247 Additional paid in capital - warrants 369,115 369,115 Accumulated deficit ( 9,387,265 ) ( 8,574,382 ) TOTAL STOCKHOLDERS' EQUITY 1,059,767 1,818,258 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,293,449 $ 4,044,235 The accompanying notes are an integral part of these financial statements. 3 Table of Contents LITHIUM Corporation (unaudited) Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 REVENUE $ - $ - $ - $ -