Company: BRGC
Filing Date: 2025-03-10
Form Type: 10-Q
Source: 0001683168-25-001450
Chunk: 7

Company: North America Lithium & Gold Corp
Filing Date: 2025-03-10
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 ended
June 30, 2001 and 2000, respectively.

Professional fees

We incurred $0 of professional fees for the six
months ended June 30, 2001, compared to $0 for the six months ended June 30, 2000, an increase/decrease of $0. Professional fees generally
consist of audit, legal, accounting and investor relation service fees. The increase/decrease is primarily due to the Company not having
any operations as of June 30, 2001.

Other income (expense)

For the six months ending June 30, 2001, we had
total other expense of $0, compared to total other expense of $5,417 for the six months ended June 30, 2000. In the current period we
incurred $5,417 of interest expense.

Net loss

We incurred a net loss of $0 for the six months
ended June 30, 2001, compared to $491,177 for the six months ended June 30, 2000. Our decrease in net loss is primarily due to the Company
having no operations as of June 30, 2001.

Liquidity and Capital Resources

Cash flow from operations

Cash used in operating activities for the six
months ended June 30, 2001, was $0 compared to $41,598 of cash used in operating activities for the six months ended June 30, 2000.

Cash Flows from Financing

For the six months ended June 30, 2001, we netted
$0 from financing activities.

Going Concern

As of June 30, 2001, 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