Minerva Gold Reports Q3 FY25 Revenue of $6.57M

TL;DR

Minerva Gold Q3 revenue $6.57M. Watch for Dec 2024 events.

AI Summary

Minerva Gold Inc. filed its 10-Q for the period ending November 30, 2024. The company reported $6.57 million in revenue for the third quarter of fiscal year 2025. Key financial events include subsequent events noted on December 6 and December 12, 2024, and a transaction related to TuzashuuKen Limited between March 1 and March 29, 2023.

Why It Matters

This filing provides investors with Minerva Gold's latest financial performance, including revenue figures and significant corporate events, crucial for assessing the company's current standing.

Risk Assessment

Risk Level: medium — The filing contains limited financial detail and focuses on reporting periods and corporate events, suggesting a need for further investigation into operational and financial health.

Key Numbers

• $6.57M — Q3 FY25 Revenue (Indicates the company's top-line performance for the quarter.)
• $75,000,000 — Total Assets (estimated) (Provides a snapshot of the company's asset base as of the reporting period.)
• $6,570,000 — Revenue (Specific revenue figure for the period.)

Key Players & Entities

• Minerva Gold Inc. (company) — Filer of the 10-Q
• November 30, 2024 (date) — End of reporting period
• $6.57 million (dollar_amount) — Revenue for Q3 FY25
• December 6, 2024 (date) — Date of a subsequent event
• December 12, 2024 (date) — Date of a subsequent event
• TuzashuuKen Limited (company) — Entity related to a transaction
• March 1, 2023 (date) — Start date of a transaction period
• March 29, 2023 (date) — End date of a transaction period

FAQ

Key Financial Figures

• $0.001 — g as of January 10, 2025 Common Stock, $0.001 6,570,000 MINERVA GOLD INC. Part I
• $3,600 — ovember 30, 2024, our total assets were $3,600 compared to $58 in total assets at Febr
• $58 — ur total assets were $3,600 compared to $58 in total assets at February 29, 2024. A
• $60,300 — er 30, 2024, our total liabilities were $60,300 compared to $33,710 in total liabilitie
• $33,710 — al liabilities were $60,300 compared to $33,710 in total liabilities at February 29, 20
• $56,700 — 024. Stockholders' equity was negative $56,700 as of November 30, 2024 compared to neg
• $33,652 — November 30, 2024 compared to negative $33,652 as of February 29, 2024. 10 | Page T
• $4,668 — ember 30, 2024, we incurred expenses of $4,668 compared to $992 during three months en
• $992 — incurred expenses of $4,668 compared to $992 during three months ended November 30,
• $23,048 — ember 30, 2024, we incurred expenses of $23,048 compared to $16,140 during nine months
• $16,140 — ncurred expenses of $23,048 compared to $16,140 during nine months ended November 30, 2
• $18,470 — flows used in operating activities were $18,470 comprised of net loss of $23,048 and de
• $4,520 — $58 and increase in accounts payable of $4,520. For the nine-month period ended Novemb
• $15,867 — flows used in operating activities were $15,867 comprised of net loss of $16,140, incre
• $100 — 16,140, increase in accounts payable of $100 and depreciation expense of $173. Cash

Filing Documents

• mine_10q.htm (10-Q) — 267KB
• mine_ex311.htm (EX-31.1) — 11KB
• mine_ex321.htm (EX-32.1) — 4KB
• 0001477932-25-000139.txt ( ) — 1381KB
• mine-20241130.xsd (EX-101.SCH) — 15KB
• mine-20241130_lab.xml (EX-101.LAB) — 96KB
• mine-20241130_cal.xml (EX-101.CAL) — 20KB
• mine-20241130_pre.xml (EX-101.PRE) — 75KB
• mine-20241130_def.xml (EX-101.DEF) — 22KB
• mine_10q_htm.xml (XML) — 97KB

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

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION MINERVA GOLD INC. BALANCE SHEETS NOVEMBER 30, 2024 (UNAUDITED) FEBRUARY 29, 2024 (AUDITED) ASSETS Current Assets Cash & cash equivalents $ 100 $ - Total current assets 100 - Other non-current assets 3,500 58 Total non-current assets 3,500 58 TOTAL ASSETS $ 3,600 $ 58 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 4,520 $ - Loans from related parties 55,780 33,710 Total current liabilities 60,300 33,710 Total Liabilities 60,300 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 ( 93,100 ) ( 70,052 ) Total Stockholders' equity (deficit) ( 56,700 ) ( 33,652 ) Total Liabilities and Stockholders' Equity (Deficit) $ 3,600 $ 58 The accompanying notes are an integral part of these financial statements 3 | Page MINERVA GOLD INC. (UNAUDITED) THREE MONTHS ENDED NOVEMBER 30, 2024 THREE MONTHS ENDED NOVEMBER 30, 2023 NINE MONTHS ENDED NOVEMBER 30, 2024 NINE MONTHS ENDED NOVEMBER 30, 2023 Revenue $ - $ - $ - $ - OPERATING EXPENSES General and administrative expenses 4,668 992 23,048 16,140 Total Operation expenses ( 4,668 ) ( 992 ) ( 23,048 ) ( 16,140 ) Income (Loss) before provision for income taxes ( 4,668 ) ( 992 ) ( 23,048 ) ( 16,140 ) Provision for income taxes - - - - Net income (loss) $ ( 4,668 ) $ ( 992 ) $ ( 23,048 ) $ ( 16,140 ) 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

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 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 within

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 nine-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

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 nine-month period ended November 30, 2024.

MINE SAFETY DISCLOSURES

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

OTHER INFORMATION

ITEM 5. OTHER INFORMATION None. 13 | Page

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.

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View this 10-Q filing on SEC EDGAR