Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 6

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 6
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 losses since its inception, the Company expects to incur losses for the foreseeable future and there can be no assurance that the Company will ever achieve revenues or profitability. The Company incurred the following losses during the following periods (as well as the net income (but also a net operating loss) for fiscal 2023 and 2021 due to a writeback/adjustment of accounts payable and accrued liabilities):

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net loss of US$204,645 for the year ended December 31, 2024 (the net operating loss for the year ended December 31, 2024 was US$224,649);

net income of US$66,591 for the year ended December 31, 2023 (the net operating loss for the year ended December 31, 2023 was US$219,627);

net loss of US$257,913 for the year ended December 31, 2022 (the net operating loss for the year ended December 31, 2022 was US$277,896);

net income of US$21,194 for the year ended December 31, 2021 (the net operating loss for the year ended December 31, 2021 was US$312,966); and

net loss of US$301,085 for the year ended December 31, 2020 (the net operating loss for the year ended December 31, 2020 was US$322,641).

The Company had an accumulated deficit of US$44,562,316 as of December 31, 2024.

The Company is a foreign corporation and the Company's directors and officers except one director are outside the United States, which may make enforcement of civil liabilities difficult.

The Company is organized under the laws of the Cayman Islands, and its principal executive office is located in Toronto, Canada. All of the Company's directors and officers except one director reside outside of the United States, and all or a substantial portion of their assets and the Company's assets are located outside of the United States. As a result, it may be difficult for investors in the United States or otherwise outside of Canada to bring an action against directors or officers who are not resident in the United States. It may also be difficult for an investor to enforce a judgment obtained in a United States court or a court of another jurisdiction of residence predicated upon the civil liability provisions of federal securities laws or other laws of the United States or any state thereof or the equivalent laws of other jurisdictions outside Canada against those persons or