Inline Viewer
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 10-Q
(Mark
One)
☒ QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the quarterly period ended March 31, 2022
Or
☐
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For
the transition period from ________________to ________________
Commission
File Number 000-54332
LITHIUM
CORPORATION |
(Exact
name of registrant as specified in its charter) |
Nevada |
|
98-0530295 |
(State or
other jurisdiction of incorporation
or organization) |
|
(IRS
Employer Identification
No.) |
|
|
|
1031
Railroad St. Ste. 102B, Elko, Nevada |
|
89801 |
(Address
of principal executive offices) |
|
(Zip Code) |
(775) 410-5287
(Registrant’s
telephone number, including area code)
(Former
name, former address and former fiscal year, if changed since last report)
Securities
registered pursuant to Section 12(b) of the Act:
Title of
each class |
|
Trading
Symbol(s) |
|
Name of
exchange on which registered |
|
|
|
|
|
Common
Stock |
|
LTUM |
|
N/A |
Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes ☒ No ☐
Indicate
by check mark whether the registrant has submitted electronically every
Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit such
files). Yes ☒ No ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, a smaller reporting company, or an emerging
growth company. See the definitions of “large accelerated filer,” “accelerated
filer,” “smaller reporting company,” and "emerging growth company" in
Rule 12b-2 of the Exchange Act.
Large
accelerated filer |
☐ |
Accelerated
filer |
☐ |
Non-accelerated
Filer |
☒ |
Smaller
reporting company |
☒ |
|
|
Emerging
growth company |
☐ |
If
an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of
the Exchange Act. ☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes ☐ No ☒
APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by
a court. Yes ☐ No ☐
APPLICABLE
ONLY TO CORPORATE ISSUERS:
Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date. 105,692,441 common shares
issued and outstanding as of May 16, 2022
|
|
LITHIUM
CORPORATION
FORM
10-Q
TABLE
OF CONTENTS
3 |
||
|
|
|
3 |
||
|
|
|
Management’s
Discussion and Analysis of Financial Condition and Results of Operations |
14 |
|
|
|
|
28 |
||
|
|
|
28 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
29 |
||
|
|
|
30 |
||
|
|
|
31 |
|
2 |
PART
I - FINANCIAL INFORMATION
Item
1. Financial Statements
Our
unaudited interim financial statements for the three month period ended March
31, 2022 form part of this quarterly report. They are stated in United States
Dollars (US$) and are prepared in accordance with United States Generally
Accepted Accounting Principles.
LITHIUM
Corporation |
Balance
Sheets |
ASSETS |
||||||||
|
|
March 31, 2022 |
|
|
December
31, 2021 |
|
||
CURRENT ASSETS |
|
|
|
|
|
|
||
Cash |
|
$ |
2,490,294 |
|
|
$ |
2,243,121 |
|
Marketable securities |
|
|
739,081 |
|
|
|
393,481 |
|
Deposits |
|
|
700 |
|
|
|
700 |
|
Prepaid expenses |
|
|
23,376 |
|
|
|
21,804 |
|
Total Current Assets |
|
|
3,253,451 |
|
|
|
2,659,106 |
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS |
|
|
|
|
|
|
|
|
Equipment, net of accumulated depreciation |
|
|
33,817 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
$ |
3,287,268 |
|
|
$ |
2,659,106 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
2,503 |
|
|
$ |
18,705 |
|
Accounts payable and accrued liabilities - related
party |
|
|
17,740 |
|
|
|
2,251 |
|
Allowance for optioned properties |
|
|
1,580,970 |
|
|
|
1,580,970 |
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
|
|
1,601,213 |
|
|
|
1,601,926 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
|
1,601,213 |
|
|
|
1,601,926 |
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Common stock, 3,000,000,000 shares
authorized, par value
$0.001; 105,092,441 and 103,492,441 common shares
outstanding, respectively |
|
|
105,093 |
|
|
|
103,493 |
|
Additional paid in capital |
|
|
7,258,124 |
|
|
|
6,925,724 |
|
Additional paid in capital - options |
|
|
191,513 |
|
|
|
191,513 |
|
Additional paid in capital - warrants |
|
|
369,115 |
|
|
|
369,115 |
|
Accumulated deficit |
|
|
(6,237,790 |
) |
|
|
(6,532,665 |
) |
|
|
|
|
|
|
|
|
|
TOTAL STOCKHOLDERS' EQUITY |
|
|
1,686,055 |
|
|
|
1,057,180 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
|
$ |
3,287,268 |
|
|
$ |
2,659,106 |
|
The
accompanying notes are an integral part of these financial statements.
|
3 |
LITHIUM
Corporation |
Statements
of Operations |
|
|
Three
Months Ended March 31,
2022 |
|
|
Three
Months Ended March 31,
2021 |
|
||
|
|
|
|
|
|
|
||
REVENUE |
|
$ |
- |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
Professional fees |
|
|
9,882 |
|
|
|
36,109 |
|
Depreciation |
|
|
1,833 |
|
|
|
- |
|
Exploration expenses - related party |
|
|
6,219 |
|
|
|
26,632 |
|
Exploration expenses |
|
|
8,866 |
|
|
|
- |
|
Consulting fees - related party |
|
|
45,000 |
|
|
|
30,000 |
|
Consulting fees |
|
|
5,250 |
|
|
|
573,055 |
|
Transfer agent and filing fees |
|
|
6,593 |
|
|
|
7,781 |
|
Travel |
|
|
3,133 |
|
|
|
42 |
|
General and administrative expenses |
|
|
3,949 |
|
|
|
2,316 |
|
TOTAL OPERATING EXPENSES |
|
|
90,725 |
|
|
|
675,935 |
|
|
|
|
|
|
|
|
|
|
LOSS FROM OPERATIONS |
|
|
(90,725 |
) |
|
|
(675,935 |
) |
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSES) |
|
|
|
|
|
|
|
|
Change in fair value of marketable securities |
|
|
345,600 |
|
|
|
- |
|
Other income |
|
|
40,000 |
|
|
|
15,000 |
|
TOTAL OTHER INCOME (EXPENSE) |
|
|
385,600 |
|
|
|
15,000 |
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE INCOME TAXES |
|
|
294,875 |
|
|
|
(660,935 |
) |
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME TAXES |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
|
$ |
294,875 |
|
|
$ |
(660,935 |
) |
|
|
|
|
|
|
|
|
|
NET LOSS PER SHARE: BASIC AND DILUTED |
|
$ |
0.00 |
|
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED |
|
|
104,110,219 |
|
|
|
96,764,240 |
|
The
accompanying notes are an integral part of these financial statements.
|
4 |
LITHIUM
Corporation |
Statements
of Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
Additional |
|
|
Additional |
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
Additional |
|
|
Paid-in |
|
|
Paid-in |
|
|
|
|
|
Total |
|
|||||||
|
|
Common
Stock |
|
|
Paid-in |
|
|
Capital - |
|
|
Capital - |
|
|
Accumulated |
|
|
Stockholders' |
|
||||||||||
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Warrants |
|
|
Options |
|
|
Deficit |
|
|
Equity |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Balance, December 31, 2020 |
|
|
95,651,644 |
|
|
$ |
95,652 |
|
|
$ |
4,322,347 |
|
|
$ |
369,115 |
|
|
$ |
191,513 |
|
|
$ |
(4,787,392 |
) |
|
$ |
191,235 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued for services |
|
|
1,375,779 |
|
|
|
1,376 |
|
|
|
555,814 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
557,190 |
|
Shares issued for cash |
|
|
6,465,018 |
|
|
|
6,465 |
|
|
|
2,047,563 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,054,028 |
|
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1,745,273 |
) |
|
|
(1,745,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2021 |
|
|
103,492,441 |
|
|
|
103,493 |
|
|
|
6,925,724 |
|
|
|
369,115 |
|
|
|
191,513 |
|
|
|
(6,532,665 |
) |
|
|
1,057,180 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued for cash |
|
|
1,600,000 |
|
|
|
1,600 |
|
|
|
332,400 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
334,000 |
|
Net income |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
294,875 |
|
|
|
294,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, March 31, 2022 |
|
|
105,092,441 |
|
|
$ |
105,093 |
|
|
$ |
7,258,124 |
|
|
$ |
369,115 |
|
|
$ |
191,513 |
|
|
$ |
(6,237,790 |
) |
|
$ |
1,686,055 |
|
The
accompanying notes are an integral part of these financial statements.
|
5 |
LITHIUM
Corporation |
Statements
of Cash Flows |
|
|
Three
Months Ended March 31,
2022 |
|
|
Three
Months Ended March 31,
2021 |
|
||
CASH FLOWS FROM OPERATING
ACTIVITIES: |
|
|
|
|
|
|
||
Net income (loss) for the period |
|
$ |
294,875 |
|
|
$ |
(660,935 |
) |
|
|
|
|
|
|
|
|
|
Adjustment to reconcile net income (loss) to net cash used in
operating activities |
|
|
|
|
|
|
|
|
Shares issued for services |
|
|
- |
|
|
|
557,190 |
|
Change in fair value of marketable securities |
|
|
(345,600 |
) |
|
|
- |
|
Depreciation |
|
|
1,833 |
|
|
|
- |
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
(Increase) Decrease in prepaid expenses |
|
|
(1,572 |
) |
|
|
1,429 |
|
Increase (decrease) in accounts payable and accrued
liabilities |
|
|
(713 |
) |
|
|
15,410 |
|
Net Cash Used in Operating Activities |
|
|
(51,177 |
) |
|
|
(86,906 |
) |
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITY: |
|
|
|
|
|
|
|
|
Purchase of equipment |
|
|
(35,650 |
) |
|
|
- |
|
Net Cash Used in Investing Activity |
|
|
(35,650 |
) |
|
|
- |
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITY: |
|
|
|
|
|
|
|
|
Shares issued for cash |
|
|
334,000 |
|
|
|
150,000 |
|
Net Cash Provided by Financing Activity |
|
|
334,000 |
|
|
|
150,000 |
|
|
|
|
|
|
|
|
|
|
Increase (Decrease) in cash |
|
|
247,173 |
|
|
|
63,094 |
|
Cash, beginning of period |
|
|
2,243,121 |
|
|
|
191,125 |
|
Cash, end of period |
|
$ |
2,490,294 |
|
|
$ |
254,219 |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
|
|
|
|
|
|
Cash paid for interest |
|
$ |
- |
|
|
$ |
- |
|
Cash paid for income taxes |
|
$ |
- |
|
|
$ |
- |
|
The
accompanying notes are an integral part of these financial statements.
|
6 |
Lithium
Corporation
Notes
to the Financial Statements
March
31, 2022
(unaudited)
Note
1 - Summary of Significant Accounting Policies
Lithium
Corporation (formerly Utalk Communications Inc.) (the
“Company”) was incorporated on January 30, 2007 under the laws of Nevada.
Nevada
Lithium Corporation was incorporated on March 16, 2009 under the laws of Nevada
under the name Lithium Corporation. On September 10, 2009, the Company amended
its articles of incorporation to change its name to Nevada Lithium Corporation.
By agreement dated October 9, 2009 Nevada Lithium Corporation and Lithium Corporation
amalgamated as Lithium Corporation. Lithium Corporation is engaged in the
acquisition and development of certain lithium interests in the state of
Nevada.
Accounting
Basis
The
Company uses the accrual basis of accounting and accounting principles
generally accepted in the United States of America ("GAAP"
accounting). The Company has adopted a December 31 fiscal year end.
Cash
and Cash Equivalents
Cash
includes cash on account, demand deposits, and short-term instruments with
maturities of three months or less.
Concentrations
of Credit Risk
The
Company maintains its cash in bank deposit accounts, the balances of which at
times may exceed federally insured limits. The Company continually monitors its
banking relationships and consequently has not experienced any losses in such
accounts. The Company believes it is not exposed to any significant credit risk
on cash and cash equivalents.
Use
of Estimates
The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amount of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
Revenue
Recognition
Effective
January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with
Customers. Under ASC 606, the Company recognizes revenue from the commercial
sales of products, licensing agreements and contracts to perform pilot studies
by applying the following steps: (1) identify the contract with a customer; (2)
identify the performance obligations in the contract; (3) determine the
transaction price; (4) allocate the transaction price to each performance
obligation in the contract; and (5) recognize revenue when each performance
obligation is satisfied. For the comparative periods, revenue has not been
adjusted and continues to be reported under ASC 605 — Revenue Recognition.
Under ASC 605, revenue is recognized when the following criteria are met: (1)
persuasive evidence of an arrangement exists; (2) the performance of service
has been rendered to a customer or delivery has occurred; (3) the amount of fee
to be paid by a customer is fixed and determinable; and (4) the collectability
of the fee is reasonably assured.
Income
per Share
Basic
income per share is computed by dividing loss available to common shareholders
by the weighted average number of common shares outstanding during the period.
The computation of diluted earnings per share assumes the conversion, exercise
or contingent issuance of securities only when such conversion, exercise or
issuance would have a dilutive effect on earnings per share. The dilutive
effect of convertible securities is reflected in diluted earnings per share by
application of the "if converted" method. In the periods in which a
loss is incurred, the effect of potential issuances of shares under options and
warrants would be anti-dilutive, and therefore basic and diluted losses per
share are the same. The Company did not have any dilutive securities for
the periods ended March 31, 2022 and 2021.
|
7 |
Income
Taxes
The
asset and liability approach is used to account for income taxes by recognizing
deferred tax assets and liabilities for the expected future tax consequences of
temporary differences between the carrying amounts and the tax basis of assets
and liabilities.
Financial
Instruments
The
Company's financial instruments consist of cash, deposits, prepaid expenses,
and accounts payable and accrued liabilities. Unless otherwise noted, it is
management's opinion that the Company is not exposed to significant interest,
currency or credit risks arising from these financial instruments. Because of
the short maturity and capacity of prompt liquidation of such assets and
liabilities, the fair value of these financial instruments approximate their
carrying values, unless otherwise noted.
Mineral
Properties
Costs
of exploration, carrying and retaining unproven mineral lease properties are
expensed as incurred. Mineral property acquisition costs are capitalized
including licenses and lease payments. Although the Company has taken steps to
verify title to mineral properties in which it has an interest, these
procedures do not guarantee the Company's title. Such properties may be subject
to prior agreements or transfers and title may be affected by undetected
defects. Impairment losses are recorded on mineral properties used in
operations when indicators of impairment are present and the undiscounted cash
flows estimated to be generated by those assets are less than the assets'
carrying amount.
Optioned
Properties
Properties
under the Company’s ownership which have been optioned to a third party are
deemed the Company’s property until all obligations under an option agreement
are met, at which point the ownership of the property transfers to the third
party. All non-refundable payments received prior to all obligations
under an option agreement being met are considered liabilities until such time
all obligations have been met, at which time ownership of the property
transfers to the third party and the Company includes option payments into its
statement of operations.
Equipment
Equipment
is stated at cost, less accumulated depreciation and is reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount
of an asset may not be recoverable.
Depreciation
of equipment is provided utilizing the straight-line method over the estimated
useful lives, being 5 years of the respective assets. Expenditures
for maintenance and repairs are charged to expense as incurred.
Upon
sale or retirement of equipment, the related cost and accumulated depreciation
are removed from the accounts and any gain or loss is reflected in the
statements of operations.
Recent
Accounting Pronouncements
From
time to time, new accounting pronouncements are issued by the FASB or other
standard setting bodies that are adopted by the Company as of the specified
effective date. Unless otherwise discussed, the Company believes that the
effect of recently issued standards that are not yet effective will not have a
material effect on its financial position or results of operations upon
adoption.
Note
2 – Going Concern
As
reflected in the accompanying financial statements, the Company has a working
capital of $1,652,238 as at March 31, 2022 (December 31, 2021: $1,057,180)
and has used $51,177 (2021: $86,906) of cash in operations for the three
months ended March 31, 2022. This raises substantial doubt about its ability to
continue as a going concern. The ability of the Company to continue as a going
concern is dependent on the Company’s ability to raise additional capital and
implement its business plan. The financial statements do not include any
adjustments that might be necessary if the Company is unable to continue as a
going concern.
Management
believes that actions presently being taken to obtain additional funding and
implement its strategic plans provide the opportunity for the Company to
continue as a going concern.
|
8 |
Note
3 – Fair Value of Financial Instruments
Under
FASB ASC 820-10-5, fair value is defined as the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date (an exit price). The standard
outlines a valuation framework and creates a fair value hierarchy in order to
increase the consistency and comparability of fair value measurements and the
related disclosures. Under GAAP, certain assets and liabilities must be
measured at fair value, and FASB ASC 820-10-50 details the disclosures that are
required for items measured at fair value.
The
Company has certain financial instruments that must be measured under the new
fair value standard. The Company’s financial assets and liabilities are
measured using inputs from the three levels of the fair value hierarchy. The
three levels are as follows:
|
- |
Level 1 - Inputs are unadjusted
quoted prices in active markets for identical assets or liabilities that the
Company has the ability to access at the measurement date. |
|
- |
Level 2 - Inputs include quoted
prices for similar assets and liabilities in active markets, quoted prices
for identical or similar assets or liabilities in markets that are not
active, inputs other than quoted prices that are observable for the asset or
liability (e.g., interest rates, yield curves, etc.), and inputs that are
derived principally from or corroborated by observable market data by
correlation or other means (market corroborated inputs). |
|
- |
Level 3 - Unobservable inputs that
reflect our assumptions about the assumptions that market participants would
use in pricing the asset or liability. |
The
following schedule summarizes the valuation of financial instruments at fair
value on a recurring basis in the balance sheets as of March 31, 2022 and
December 31, 2021, respectively:
|
|
Fair Value
Measurements at March 31, 2022 |
|
|||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|||
Assets |
|
|
|
|
|
|
|
|
|
|||
Cash |
|
$ |
2,490,294 |
|
|
$ |
- |
|
|
$ |
- |
|
Marketable securities |
|
|
739,081 |
|
|
|
- |
|
|
|
- |
|
Total Assets |
|
|
3,229,375 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total Liabilities |
|
$ |
3,229,375 |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
Fair Value
Measurements at December 31, 2021 |
|
|||||||||
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|||
Assets |
|
|
|
|
|
|
|
|
|
|||
Cash |
|
$ |
2,243,121 |
|
|
$ |
- |
|
|
$ |
- |
|
Marketable securities |
|
|
393,481 |
|
|
|
|
|
|
|
- |
|
Total Assets |
|
|
2,636,602 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total Liabilities |
|
$ |
2,636,602 |
|
|
$ |
- |
|
|
$ |
- |
|
|
9 |
Note
4 – Marketable Securities
The
Company owns marketable securities (common stock) as outlined below:
Balance, December 31, 2021 |
|
$ |
393,481 |
|
Additions |
|
|
- |
|
Fair value adjustment |
|
|
345,600 |
|
|
|
|
|
|
Balance, March 31, 2022 |
|
$ |
739,081 |
|