Verde Resources Reports $1.24B Assets, $1.19B Liabilities

TL;DR

**VERDE RESOURCES:** $1.24B assets vs $1.19B liabilities as of 9/30/24. Watch for debt levels.

AI Summary

Verde Resources, Inc. filed a 10-Q for the period ending September 30, 2024. The company reported total assets of $1.24 billion and total liabilities of $1.19 billion. Key financial figures include $50 million in authorized shares and $1 billion in authorized debt. The filing also mentions a Service and Stock Cancellation Agreement as of September 30, 2024.

Why It Matters

This filing provides a snapshot of Verde Resources' financial health, detailing its asset and liability structure as of Q3 2024, which is crucial for investors assessing financial stability.

Risk Assessment

Risk Level: medium — The company has a significant amount of authorized debt ($1 billion) and a relatively small difference between total assets and total liabilities, indicating potential financial leverage risk.

Key Numbers

• $1.24B — Total Assets (As of September 30, 2024)
• $1.19B — Total Liabilities (As of September 30, 2024)
• $1B — Authorized Debt (Indicates potential for future borrowing)
• $50M — Authorized Shares (Represents the maximum number of shares the company can issue)
• 0.001 — Stock Price (Reported for the period, indicating a low share price)

Key Players & Entities

• VERDE RESOURCES, INC. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• $1.24 billion (dollar_amount) — Total assets
• $1.19 billion (dollar_amount) — Total liabilities
• $1 billion (dollar_amount) — Authorized debt
• Service and Stock Cancellation Agreement (agreement) — Mentioned in the filing as of 2024-09-30

FAQ

Key Financial Figures

• $0 — of the issuer's common stock, par value $0.001, outstanding. VERDE RESOURCES, INC
• $0.001 — 1,240,946 1,199,358 Common stock, $0.001 par value, 800,000 and 22,887,025 share

Filing Documents

• vrdr_10q.htm (10-Q) — 1249KB
• vrdr_ex311.htm (EX-31.1) — 12KB
• vrdr_ex312.htm (EX-31.2) — 12KB
• vrdr_ex321.htm (EX-32.1) — 7KB
• vrdr_10qimg2.jpg (GRAPHIC) — 37KB
• 0001640334-24-001765.txt ( ) — 7529KB
• vrdr-20240930.xsd (EX-101.SCH) — 92KB
• vrdr-20240930_lab.xml (EX-101.LAB) — 395KB
• vrdr-20240930_cal.xml (EX-101.CAL) — 71KB
• vrdr-20240930_pre.xml (EX-101.PRE) — 379KB
• vrdr-20240930_def.xml (EX-101.DEF) — 234KB
• vrdr_10q_htm.xml (XML) — 1337KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements. 4 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. 5 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

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. Legal Proceedings. 13 Item 1A. Risk Factors. 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 Table of Contents CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical facts, included in this Form 10-Q including, without limitation, statements in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" regarding the Company's financial position, business strategy and the plans and objectives of management for future operations, events or developments which the Company expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof); expansion and growth of the Company's business and operations; and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. However, whether actual results or developments will conform with the Company's expectations and predictions is subject to a number of risks and uncertainties, including general economic, market and business conditions; the business opportunities (or lack thereof) that may be presented to and pursued by the Company; changes in laws or regulation; and other factors, most of which are beyond the control of the Company. These forward-looking statements can be identified by the use of predictive, future-tense or forward-looking terminology, such as "believes," "

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Item Regulation S-X, Rule 10-01(c) Interim Financial Statements, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three months ended September 30, 2024, are not necessarily indicative of the results that can be expected for the year ended June 30, 2025. VERDE RESOURCES, INC. INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024 Page Unaudited Condensed Consolidated Balance Sheets as at September 30, 2024 and June 30, 202 4 (audited) F-1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended September 30, 2024 and 2023 F-2 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 F-3 Unaudited Condensed Consolidated Statements of Changes in Equity for the Three Months Ended September 30, 2024 and 2023 (Unaudited) F-4 Notes to Unaudited Condensed Consolidated Financial Statements F-5 4 Table of Contents VERDE RESOURCES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Currency expressed in United States Dollars ("US

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View this 10-Q filing on SEC EDGAR