Company: WOLV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001062993-25-001810
Chunk: 17

Company: Wolverine Resources Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 17
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 169,616 Mineral property exploration costs$ 21,932 $7,099 General and administrative expenses increased by $61,466 from $169,6162 during the six months ended November 30, 2023, to $231,082 during the six months ended November 30, 2024. This increase was primarily as a result of an increase in consulting fees of $67,365 and transfer agent and filing fees of $5,374 offset by a decrease in accounting fees of $8,166, tax penalties and interest of $2,725 and other miscellaneous fees of $382.Mineral property exploration costs increased by $14,833 from $7,099 during the six months ended November 30, 2023, to $21,932 during the six months ended November 30, 2024. Mineral property exploration costs increased as a result of exploration costs incurred during exploration of the Frog Property.RevenueWe have not earned any revenues since our inception, and we do not anticipate earning revenues in the upcoming quarter.Liquidity and Financial ConditionWorking Capital                                                              As AtNovember 30,2024   As AtMay 31,2024 Current assets$20,086 $8,432 Current liabilities (114,210) (87,452)Working Capital Deficit$(94,124)$(79,110) 7Cash Flows  Six Months Ended   November 30,2024  November 30,2023 Net Cash Used in Operating Activities$(122,566)$(194,466)Net Cash Provided by Financing Activities 128,575  194,360 Net change in cash during period$6,009 $(106)Operating ActivitiesNet cash used in operating activities during the six months ended November 30, 2024, was $389,574 compared to$179,498 during the six months ended November 30, 2023. The increase in cash used in operating activities was primarily a result of an increase in net loss from $179,498 during the six months ended November 30, 2023, to $389,574 during the six months ended November 30, 2024, an increase in loss on settlement of debt from $543 during the six months ended November 30, to $136,866 during the six months ended November 30, 2024, and the net change in operating assets and liabilities