Company: WOLV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001062993-25-001810
Chunk: 18

Company: Wolverine Resources Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 18
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 from $15,511 used for operating assets and liabilities during the six months ended November 30, 2023, to $130,142 provided by operating assets and liabilities during the six months ended November 30, 2024.Financing ActivitiesDuring the six months ended November 30, 2024, we received proceeds of $3,705 from a shareholder loan and $124,870 from common stock issued and subscribed. In the comparable period, we received $194,360 from common stock issued and subscribed.Contractual ObligationsAs a "smaller reporting company", we are not required to provide tabular disclosure obligations.Off-Balance Sheet ArrangementsWe have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.Recent Accounting StandardsThe Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.Item 3. Quantitative and Qualitative Disclosure About Market RiskNot required.Item 4. Controls and ProceduresManagement's Report on Disclosure Controls and ProceduresWe maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president (also our principal executive officer, principal financial officer, and principal accounting officer) to allow for timely decisions regarding required disclosure.8As of November 30, 2024, the end of the quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (also our principal executive officer, principal financial and accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing evaluation, and in light of weakness identified in our internal controls over financial reporting which were disclosed in our Annual Report on Form 10-K for the year ended May 31, 2024, our president (also our principal executive officer, principal financial and accounting officer) concluded that our disclosure controls and procedures were not effective.Changes in Internal Control over Financial