10-K Annual Report filed today July 27th, 2022 fo
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Posted On: 07/27/2022 6:44:06 PM
10-K Annual Report filed today July 27th, 2022 for Mexus' fiscal year ending March 31, 2022
https://sec.report/Document/0001096906-22-001710/
No upside surprises- meager gold production and revenue - about 2 oz per week based on the sales figure of $172, 683.
Accumulated losses 38 million and the convertible loan parade continues with two new notes and two convertible notes issued from April to June, 2022.
A few key lines from the filing
For the year ended March 31, 2022, the Company had recoveries from the sale of gold of $172,683 compared to $151,360 for the year ended March 31, 2021
Two owners of more than 5% of the company stock are listed:
Paul D. Thompson 40,733,696 shares or 7.1%
William James McCreary with 99,600,798 share or 17.8%
The McCreary name is new to me but has possibly been on prior filings. . Looking back that name was not on last year's report. Footnotes explain more including Mr. McCreary's location as Fairfield CA.
Total operating expenses decreased to $1,682,867 for year ended March 31, 2022, compared to $2,360,066 for the year ended March 31, 2021
During the year ended March 31, 2022, the Company incurred a net loss of $2,580,694 and used cash in operating activities of $681,264, and on March 31, 2022, had an accumulated deficit of $38,258,492
More in the report - I found no bright spots and most of the text is repeat from all prior filings. The boiler plate about "going concern" ring truer than ever.
https://sec.report/Document/0001096906-22-001710/
No upside surprises- meager gold production and revenue - about 2 oz per week based on the sales figure of $172, 683.
Accumulated losses 38 million and the convertible loan parade continues with two new notes and two convertible notes issued from April to June, 2022.
A few key lines from the filing
For the year ended March 31, 2022, the Company had recoveries from the sale of gold of $172,683 compared to $151,360 for the year ended March 31, 2021
Two owners of more than 5% of the company stock are listed:
Paul D. Thompson 40,733,696 shares or 7.1%
William James McCreary with 99,600,798 share or 17.8%
The McCreary name is new to me but has possibly been on prior filings. . Looking back that name was not on last year's report. Footnotes explain more including Mr. McCreary's location as Fairfield CA.
Total operating expenses decreased to $1,682,867 for year ended March 31, 2022, compared to $2,360,066 for the year ended March 31, 2021
During the year ended March 31, 2022, the Company incurred a net loss of $2,580,694 and used cash in operating activities of $681,264, and on March 31, 2022, had an accumulated deficit of $38,258,492
More in the report - I found no bright spots and most of the text is repeat from all prior filings. The boiler plate about "going concern" ring truer than ever.
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