PureBase Corp. Files 10-Q for Period Ending May 31, 2024

TL;DR

**PureBase Corp. 10-Q filed!** Q2 financials for period ending 5/31/24 are in.

AI Summary

PureBase Corp. filed its 10-Q for the period ending May 31, 2024. The company, formerly known as Port of Call Online Inc., is in the agriculture chemicals sector. Its fiscal year ends on November 30th, and it is incorporated in Nevada.

Why It Matters

This filing provides an update on PureBase Corp.'s financial performance and operational status for the second quarter of its fiscal year.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the header.

Key Numbers

• 20240531 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 20240715 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1130 — Fiscal Year End (Indicates when PureBase Corp.'s financial year concludes.)

Key Players & Entities

• PureBase Corp. (company) — Filer
• Port of Call Online Inc. (company) — Former company name
• 20240531 (date) — Period of report
• 20240715 (date) — Filing date
• 2870 (industry_code) — Standard Industrial Classification (Agriculture Chemicals)

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1099KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-027791.txt ( ) — 6466KB
• pubc-20240531.xsd (EX-101.SCH) — 46KB
• pubc-20240531_cal.xml (EX-101.CAL) — 46KB
• pubc-20240531_def.xml (EX-101.DEF) — 232KB
• pubc-20240531_lab.xml (EX-101.LAB) — 407KB
• pubc-20240531_pre.xml (EX-101.PRE) — 352KB
• form10-q_htm.xml (XML) — 999KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 3 CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MAY 31, 2024 AND NOVEMBER 30, 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED MAY 31, 2024 AND 2023 4 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT FOR THE THREE AND SIX MONTHS ENDED MAY 31, 2024 AND 2023 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED MAY 31, 2024 AND 2023 6 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 7 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 29 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 35 PART II. OTHER INFORMATION 36 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 36 ITEM 1A.

RISK FACTORS

RISK FACTORS 36 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 36 ITEM 4. MINE SAFETY DISCLOSURES 36 ITEM 5. OTHER INFORMATION 36 ITEM 6. EXHIBITS 36

SIGNATURES

SIGNATURES 37 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PUREBASE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS May 31, 2024 November 30, 2023 (Unaudited) (Audited) ASSETS Current Assets: Cash and cash equivalents $ 45,940 $ 5,572 Accounts receivable 50,034 - Prepaid expenses and other assets 12,780 15,434 Right of use asset 19,900 - Total Current Assets 128,654 21,006 Property and equipment, net 750,716 750,716 Right of use asset - 39,799 Total Assets $ 879,370 $ 811,521 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses $ 98,529 $ 361,013 Interest payable, related party 46,528 120,011 Settlement liability 206,000 618,000 Line of credit 442,135 346,735 Lease liability 20,696 40,880 Note payable to officer 1,216 8,716 Convertible notes payable, related party 31,000 19,000 Total Current Liabilities 846,104 1,514,355 Interest payable, related party, net of current portion 6,729 - Convertible notes payable; related party, net of current portion 412,000 1,525,676 Total Liabilities 1,264,833 3,040,031 Commitments and Contingencies (Note 9) - - Stockholders' Deficit: Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at May 31, 2024 and November 30, 2023 - - Common stock, $ 0.001 par value; 520,000,000 shares authorized; 250,347,329 and 230,863,005 shares issued and outstanding, at May 31, 2024 and November 30, 2023, respectively 250,347 230,863 Additional paid in capital 62,927,030 60,271,605 Accumulated deficit ( 63,562,840 ) ( 62,730,978 ) Total Stockholders' Deficit ( 385,463 ) ( 2,228,510 ) Total Liabilities and Stockholders' Deficit $ 879,370 $ 811,521 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 PUREBASE CORPORATION AND SUBSIDIARIES COND

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View this 10-Q filing on SEC EDGAR