Company: BRGC
Filing Date: 2025-03-13
Form Type: 10-Q
Source: 0001683168-25-001564
Chunk: 7

Company: North America Lithium & Gold Corp
Filing Date: 2025-03-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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General and administrative expenses

We had $0 of general and administrative expenses
(“ G& A”) for the three months ended September 30, 2004, compared to $0 for the three months September 30, 2003.

Professional fees

We incurred $0 of professional fees for the three
months ended September 30, 2004, compared to $0 for the three months ended September 30, 2003. Professional fees generally consist of
audit, legal, accounting and investor relation service fees.

Other income (expense)

For the three months ending September 30, 2004,
we had total other expense of $0, compared to total other expense of $0 for the three months ended September 30, 2003.

Net loss

We incurred a net loss of $0 for the three months
ended September 30, 2004, compared to $0 for the three months ended September 30, 2003.

Cash flow from operations

Cash used in operating activities for the nine
months ended September 30, 2004, was $0 compared to $0 of cash used in operating activities for the nine months ended September 30, 2003.

Cash Flows from Financing

For the three months ended September 30, 2004,
we netted $0 from financing activities.

  11  

Going Concern

As of September 30, 2004, there is substantial
doubt regarding our ability to continue as a going concern as we have not generated sufficient cash flow to fund our operations.

We have suffered recurring losses from operations
and have not yet generated any revenue. As a result of these and other factors, our independent auditor has expressed substantial doubt
about our ability to continue as a going concern. Our future success and viability, therefore, are dependent upon our ability to generate
capital financing. The failure to generate sufficient revenues or raise additional capital may have a material and adverse effect upon
us and our shareholders.

Management’s plans with regard to these
matters encompass the following actions: (i) obtaining funding from new investors to alleviate our working capital deficiency, and (ii)
implementing our plan of operation to generate sales. Our continued existence is dependent upon our ability to resolve our liquidity problems
and increase profitability in our business operations. However, the outcome of management’s plans cannot be ascertained with any
degree of certainty. Our financial statements do not include any adjustments that might result from the outcome of these risks