M&A
confidence high
sentiment negative
materiality 0.65
Acquired Nubian Resources USA reports 2020 net loss $29,955, accumulated deficit $537,733, going concern uncertainty
ATHENA GOLD CORP
- Net loss for 2020 was $29,955; accumulated deficit reached ($537,733) as of Dec 31, 2020.
- Total liabilities of $812,486, mostly $809,892 due to parent company Nubian Resources Ltd.
- Total assets $274,768: mineral concessions $215,268 and assets held for sale $59,500 (Dunfee/Copper Hills sold to related party).
- Going concern doubt: accumulated losses, no revenue, reliant on parent funding for operations.
- Acquired entity has no cash, no revenue, and ongoing exploration expenses.