Minerva Gold Inc. Reports Financials for Q2 2025

TL;DR

**Minerva Gold Inc. Q2 2025: $75M Common Stock, $6.57M Retained Earnings.**

AI Summary

Minerva Gold Inc. filed its 10-Q for the period ending August 31, 2024. The company reported $75,000,000 in common stock and $6,570,000 in retained earnings as of August 31, 2024. The filing covers the period from March 1, 2024, to August 31, 2024.

Why It Matters

This filing provides investors with a snapshot of Minerva Gold Inc.'s financial health and equity structure as of the end of the second quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — As a mining company, Minerva Gold Inc. is subject to commodity price volatility and operational risks inherent in the industry.

Key Numbers

• $75.0B — Common Stock (As of August 31, 2024)
• $6.57M — Retained Earnings (As of August 31, 2024)

Key Players & Entities

• Minerva Gold Inc. (company) — Filer of the 10-Q
• August 31, 2024 (date) — End of reporting period
• $75,000,000 (dollar_amount) — Common stock value
• $6,570,000 (dollar_amount) — Retained earnings value
• March 1, 2024 (date) — Start of reporting period

FAQ

Key Financial Figures

• $0.001 — g as of October 11, 2024 Common Stock, $0.001 6,570,000 MINERVA GOLD INC. Part I
• $0 — August 31, 2024, our total assets were $0 compared to $58 in total assets at Febr
• $58 — 4, our total assets were $0 compared to $58 in total assets at February 29, 2024. A
• $52,032 — st 31, 2024, our total liabilities were $52,032 compared to $33,710 in total liabilitie
• $33,710 — al liabilities were $52,032 compared to $33,710 in total liabilities at February 29, 20
• $33,652 — of August 31, 2024 compared to negative $33,652 as of February 29, 2024. 10 | page T
• $4,982 — ugust 31, 2024, we incurred expenses of $4,982 compared to $3,555 during three months
• $3,555 — incurred expenses of $4,982 compared to $3,555 during three months ended August 31, 20
• $18,380 — ugust 31, 2024, we incurred expenses of $18,380 compared to $15,148 during six months e
• $15,148 — ncurred expenses of $18,380 compared to $15,148 during six months ended August 31, 2023
• $18,322 — flows used in operating activities were $18,322 comprised of net loss of $18,380 and de
• $15,233 — flows used in operating activities were $15,233 comprised of net loss of $15,148, decre
• $200 — 15,148, decrease in accounts payable of $200 and depreciation expense of $115. Cash
• $115 — ble of $200 and depreciation expense of $115. Cash Flows from Financing Activities
• $433 — from loan the related party compared to $433 for the six-month period ended August 3

Filing Documents

• mine_10q.htm (10-Q) — 240KB
• mine_ex311.htm (EX-31.1) — 12KB
• mine_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-006366.txt ( ) — 1284KB
• mine-20240831.xsd (EX-101.SCH) — 15KB
• mine-20240831_lab.xml (EX-101.LAB) — 90KB
• mine-20240831_cal.xml (EX-101.CAL) — 19KB
• mine-20240831_pre.xml (EX-101.PRE) — 70KB
• mine-20240831_def.xml (EX-101.DEF) — 19KB
• mine_10q_htm.xml (XML) — 81KB

Financial statements (unaudited)

Financial statements (unaudited) 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 10 Item 3

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 12 Item 4

Controls and procedures

Controls and procedures 12 PART II Other Information Item 1

Legal proceedings

Legal proceedings 13 Item 2 Unregistered sales of equity securities and use of proceeds 13 Item 3 Defaults upon senior securities 13 Item 4 Mine safety disclosures 13 Item 5 Other information 13 Item 6 Exhibits 14

Signatures

Signatures 15 2 | page Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION MINERVA GOLD INC. BALANCE SHEETS AUGUST 31, 2024 (UNAUDITED) FEBRUARY 29, 2024 (AUDITED) ASSETS Current Assets Cash & cash equivalents $ - $ - Total current assets - - Other non-current assets - 58 Total non-current assets - 58 TOTAL ASSETS $ - $ 58 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ - $ - Loans from related parties 52,032 33,710 Total current liabilities 52,032 33,710 Total Liabilities 52,032 33,710 Commitments and contingencies - - Stockholders' Equity (Deficit) Common stock, $ 0.001 par value, 75,000,000 shares authorized; 6,570,000 shares issued and outstanding 6,570 6,570 Additional Paid-In-Capital 29,830 29,830 Accumulated Deficit ( 88,432 ) ( 70,052 ) Total Stockholders' equity (deficit) ( 52,032 ) ( 33,652 ) Total Liabilities and Stockholders' Equity (Deficit) $ - $ 58 The accompanying notes are an integral part of these financial statements 3 | page Table of Contents MINERVA GOLD INC. (UNAUDITED) THREE MONTHS ENDED AUGUST 31, 2024 THREE MONTHS ENDED AUGUST 31, 2023 SIX MONTHS ENDED AUGUST 31, 2024 SIX MONTHS ENDED AUGUST 31, 2023 Revenue $ - $ - $ - $ - OPERATING EXPENSES General and administrative expenses 4,982 3,555 18,380 15,148 Total Operation expenses ( 4,982 ) ( 3,555 ) ( 18,380 ) ( 15,148 ) Income (Loss) before provision for income taxes ( 4,982 ) ( 3,555 ) ( 18,380 ) ( 15,148 ) Provision for income taxes - - - - Net income (loss) $ ( 4,982 ) $ ( 3,555 ) $ ( 18,380 ) $ ( 15,148 ) Income (loss) per common share: Basic and Diluted $ ( 0.00 ) $ ( 0.00 ) $ ( 0.00 ) $ ( 0.00 ) Weighted Average Number of Common Shares Outstanding: Basic and Diluted 6,570,000 6,570,000 6,570,000 6,570,000 The accompanying notes are an integral part of these financial statements. 4

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS DESCRIPTION OF BUSINESS We were incorporated on February 24, 2021 in the State of Nevada. We are a start-up company which is in the mineral property exploration business. We started operating activities, which include the incorporation of our company, the initial equity funding by our sole officer and director, developing our business plan, engaging in market research and the execution of consulting contract with a geologist. In addition, on March 29, 2023, we signed a Mineral Property Option Agreement with Tuzashuu Ken Limited Liability Company for the exploration of the Arsy deposit. However, the agreement was terminated after the Company failed to meet the required obligations wi

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES Disclosure Controls and Procedures Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our "disclosure controls and procedures" (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) within the end of the period covered by this Quarterly Report on Form 10-Q and have concluded that the disclosure controls and procedures were not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner. Changes in Internal Controls over Financial Reporting There have been no changes in the Company's internal control over financial reporting during the six-month period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting. 12 | page Table of Contents

OTHER INFORMATION

PART II. OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS None.

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES No senior securities were issued and outstanding during the six-month period ended August 31, 2024.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable to our Company.

OTHER INFORMATION

ITEM 5. OTHER INFORMATION None. 13 | page Table of Contents

EXHIBITS

ITEM 6. EXHIBITS 31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a) 32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002 101.INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document). 101.SCH Inline XBRL Taxonomy Extension Schema Document. 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document. 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document. 101.LAB Inline XBRL Taxonomy Extension Labels Linkbase Document. 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). 14 | page Table of Contents

SIGNATURES

SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MINERVA GOLD INC. Dated: October 11, 2024 By: /s/ Aftandil Aibekov Aftandil Aibekov, President and Chief Executive Officer and Chief Financial Officer 15 | page

View Full Filing

View this 10-Q filing on SEC EDGAR