Company: BRGC
Filing Date: 2025-03-10
Form Type: 10-Q
Source: 0001683168-25-001444
Chunk: 6

Company: North America Lithium & Gold Corp
Filing Date: 2025-03-10
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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Other income (expense)

For the three months ending March 31, 2001, we
had total other expense of $0, compared to total other expense of $5,417 for the three months ended March 31, 2000. In the current period
we incurred $5,417 of interest expense.

Net loss

We incurred a net loss of $0 for the three months
ended March 31 2001, compared to $491,177 for the three months ended March 31, 2000. Our decrease in net loss is primarily due to the
cease in operations in December 2000.

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Cash flow from operations

Cash used in operating activities for the nine
months ended March 31, 2001, was $0 compared to $41,598 of cash used in operating activities for the three months ended March 31, 2000.

Cash Flows from Financing

For the three months ended March 31, 2001, we
netted $0 from financing activities. We received $165,930 for the issuance of convertible promissory notes and $0 from other loans. We
repaid $251,727 on a note payable. For the three months ended March 31, 2000, we received $16,000 from proceeds from the sale of common
stock and $73,500 from the from proceeds from the sale of preferred stock.

Going Concern

As of March 31 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 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