PureBase Corp Files Q3 10-Q

TL;DR

**PureBase Corp 10-Q filed: Q3 financials out for period ending Aug 31, 2024.**

AI Summary

PureBase Corp filed its 10-Q for the period ending August 31, 2024. The company, formerly known as Port of Call Online Inc., is incorporated in Nevada and operates in the agriculture chemicals sector. Its fiscal year ends on November 30th. The filing includes financial data for various periods, such as the nine months ended August 31, 2024, and the three months ended August 31, 2024.

Why It Matters

This filing provides investors with an update on PureBase Corp's financial performance and position for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a standard 10-Q filing with no immediate red flags or significant new information presented in the provided snippet.

Key Numbers

• 20240831 — Reporting Period End Date (Indicates the end of the financial reporting period covered by the 10-Q.)
• 20241015 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1130 — Fiscal Year End (Specifies the end date of PureBase Corp's fiscal year.)

Key Players & Entities

• PureBase Corp (company) — Filer of the 10-Q
• Port of Call Online Inc. (company) — Former name of PureBase Corp
• 20240831 (date) — End of the reporting period
• 20241015 (date) — Filing date
• 1130 (date) — Fiscal year end

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1159KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-041081.txt ( ) — 6582KB
• pubc-20240831.xsd (EX-101.SCH) — 46KB
• pubc-20240831_cal.xml (EX-101.CAL) — 47KB
• pubc-20240831_def.xml (EX-101.DEF) — 231KB
• pubc-20240831_lab.xml (EX-101.LAB) — 410KB
• pubc-20240831_pre.xml (EX-101.PRE) — 348KB
• form10-q_htm.xml (XML) — 1038KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 3 CONDENSED CONSOLIDATED BALANCE SHEETS AS OF AUGUST 31, 2024 AND NOVEMBER 30, 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED AUGUST 31, 2024 AND 2023 4 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT FOR THE THREE AND NINE MONTHS ENDED AUGUST 31, 2024 AND 2023 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED AUGUST 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 August 31, 2024 November 30, 2023 (Unaudited) (Audited) ASSETS Current Assets: Cash and cash equivalents $ 31,246 $ 5,572 Accounts receivable 74,244 - Prepaid expenses and other assets 16,783 15,434 Right of use asset 9,950 - Total Current Assets 132,223 21,006 Property and equipment, net 749,589 750,716 Right of use asset - 39,799 Total Assets $ 881,812 $ 811,521 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses $ 74,036 $ 361,013 Interest payable, related party 59,103 120,011 Settlement liability - 618,000 Line of credit 720,135 346,735 Lease liability 10,413 40,880 Note payable to officer - 8,716 Convertible notes payable, related party 37,000 19,000 Total Current Liabilities 900,687 1,514,355 Interest payable, related party, net of current portion 17,235 - Convertible notes payable; related party, net of current portion 618,000 1,525,676 Total Liabilities 1,535,922 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 August 31, 2024 and November 30, 2023 - - Common stock, $ 0.001 par value; 520,000,000 shares authorized; 250,397,330 and 230,863,005 shares issued and outstanding, at August 31, 2024 and November 30, 2023, respectively 250,397 230,863 Additional paid in capital 62,935,171 60,271,605 Accumulated deficit ( 63,839,678 ) ( 62,730,978 ) Total Stockholders' Deficit ( 654,110 ) ( 2,228,510 ) Total Liabilities and Stockholders' Deficit $ 881,812 $ 811,521 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 PUREBASE CORPORATION AND SUBSIDIARIES C

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View this 10-Q filing on SEC EDGAR