KeyStar Corp. Files Q3 2024 10-Q Amendment

TL;DR

KeyStar Corp. amended its Q3 2024 10-Q. Financials updated.

AI Summary

KeyStar Corp. filed an amended 10-Q for the period ending March 31, 2024, on August 23, 2024. The filing details financial information for the third quarter and the nine months ended March 31, 2024, and 2023, including data on non-related and related party transactions, and preferred stock series. The company is incorporated in Nevada and operates in miscellaneous retail.

Why It Matters

This amended filing provides updated financial disclosures for KeyStar Corp., which could impact investor understanding of the company's performance and financial health as of March 31, 2024.

Risk Assessment

Risk Level: low — The filing is an amendment to a standard quarterly report and does not appear to contain significant new negative information.

Key Numbers

• 20240331 — Period End Date (The financial reporting period covered by the 10-Q/A.)
• 20240823 — Filing Date (The date the amended 10-Q was filed with the SEC.)
• 2023-07-01 to 2024-03-31 — Nine Month Period (The cumulative period for which financial data is presented.)

Key Players & Entities

• KeyStar Corp. (company) — Filer of the 10-Q/A
• 0001832161 (company) — Central Index Key for KeyStar Corp.
• NV (state) — State of incorporation for KeyStar Corp.
• MIAMI (city) — City of business and mailing address for KeyStar Corp.
• FL (state) — State of business and mailing address for KeyStar Corp.

FAQ

Key Financial Figures

• $0.0001 — hange Act: Common Stock, par value of $0.0001 (Title of each class) Indicate by c
• $1.00 — r Value Preferred Shares Series B $1.00 Par Value Preferred Shares Series C

Filing Documents

• form10-qa.htm (10-Q/A) — 1396KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-033771.txt ( ) — 7209KB
• keyr-20240331.xsd (EX-101.SCH) — 45KB
• keyr-20240331_cal.xml (EX-101.CAL) — 55KB
• keyr-20240331_def.xml (EX-101.DEF) — 318KB
• keyr-20240331_lab.xml (EX-101.LAB) — 392KB
• keyr-20240331_pre.xml (EX-101.PRE) — 370KB
• form10-qa_htm.xml (XML) — 1058KB

, Item 1, Financial Statements

Part I, Item 1, Financial Statements

, Item 2, Management's Discussion and Analysis of Financial Conditions and Results of Operations

Part I, Item 2, Management's Discussion and Analysis of Financial Conditions and Results of Operations. In addition, pursuant to Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment contains currently dated certifications by the Company's principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, which are being filed and furnished, respectively, as exhibits to this Amendment. KeyStar Corp. Form 10-Q/A Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 1

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

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

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS 5

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 5

- OTHER INFORMATION

PART II - OTHER INFORMATION 6

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 6

SIGNATURES

SIGNATURES 7 PART I - FINANCIAL INFORMATION Item 1. Financial Statements Our

financial statements included in this Form 10-Q/A are as follows

financial statements included in this Form 10-Q/A are as follows: F-1 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited and restated), and June 30, 2023; F-3 Condensed Consolidated Statements of Operations for the three and nine months ended March 31, 2024 (restated), and 2023 (unaudited); F-4 Condensed Consolidated Statement of Stockholders' Equity (Deficit) for the three and nine month periods ended March 31, 2024 (restated), and 2023 (unaudited); F-6 Condensed Consolidated Statements of Cash Flow for the nine months ended March 31, 2024 (restated), and 2023 (unaudited); F-7 Notes to Condensed Consolidated Financial Statements. 1 KEYSTAR CORP. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 June 30, 2023 (As restated) (unaudited) ASSETS Current assets: Cash $ 142,440 $ 333,974 Cash reserved for users 479,658 21,422 Prepaid expenses and other current assets 285,024 1,194,288 Total current assets 907,122 1,549,684 Other assets: Equipment, net 2,568 3,813 Intangible assets, net 7,103,867 8,067,198 Debt issuance costs, net 2,131,801 5,672,151 Security deposit 12,237 9,683 Total other assets 9,250,473 13,752,845 Total assets $ 10,157,595 $ 15,302,529 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued expenses $ 1,799,550 $ 1,219,018 Accrued expenses - related party 141,948 323,904 Players balances 539,368 134,946 Notes payable – current 654,359 1,189,694 Notes payable - related party, net of discount 30,000 1,306,655 Notes payable 30,000 1,306,655 Convertible notes – current 85,407 - Line of credit - related party 4,810,000 3,851,877 Derivative liability 6,474,928 6,859,452 Total current liabilities 14,535,560 14,885,546 Long-term liabilities: Notes payable - long-term 620,664 850,000 Total long-term liabilities 620,664 850,000 Total liabilities 15,156,224 15,735,5

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View this 10-Q/A filing on SEC EDGAR