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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Golden Star Resources Corporation (QB) | USOTC:GLNS | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.406 | 1.15 | 0.00 | 21:42:01 |
x
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QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED
DECEMBER 31, 2012
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OR
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Large accelerated filer
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o
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Accelerated filer
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o
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Non-accelerated filer
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o
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Smaller reporting company
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x
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FINANCIAL STATEMENTS
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Item 1
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Financial Statements:
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3
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Balance Sheets as of December 31, 2012 and June 30, 2012
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3
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Statements of Operations and Comprehensive Income (Loss) for the three and six months ended December 31, 2012, December 31, 2011 and from April 21, 2006 to December 31, 2012
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4
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Statements of Cash Flows for the six months ended December 31, 2012, December 31, 2011 and from April 21, 2006 to December 31, 2012
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5
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Statements of Stockholders' (Deficiency) Equity from April 21, 2006 to December 31, 2012
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6
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Notes to Financial Statements
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7 - 10
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Item 2
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Management’s Discussion and Analysis of Financial Condition and Results of Operations
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11 - 12
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Item 3
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Quantitative and Qualitative Disclosures About Market Risk
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12
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Item 4
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Controls and Procedures
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12
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PART II – OTHER INFORMATION
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Item 1A
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Risk Factors
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13
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Item 6
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Exhibits
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13
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Signatures
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13
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CUMULATIVE
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||||||||||||||||||||
PERIOD FROM
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||||||||||||||||||||
THREE
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THREE
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SIX
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SIX
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INCEPTION
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||||||||||||||||
MONTHS
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MONTHS
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MONTHS
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MONTHS
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APRIL 21
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||||||||||||||||
ENDED
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ENDED
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ENDED
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ENDED
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2006 TO
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||||||||||||||||
DECEMBER 31
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DECMEBER 31
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DECEMBER 31
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DECMEBER 31
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DECEMBER 31
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||||||||||||||||
2012
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2011
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2012
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2011
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2012
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||||||||||||||||
Revenue
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$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Expenses
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||||||||||||||||||||
Professional fees
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798 | 2,520 | 11,962 | 8,999 | 158,401 | |||||||||||||||
Administration
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4,500 | 4,500 | 9,000 | 9,000 | 45,000 | |||||||||||||||
Consulting fees
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7,500 | 8,486 | 15,000 | 15,986 | 90,859 | |||||||||||||||
Mineral claim maintenance fees
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3,150 | - | 3,150 | - | 13,150 | |||||||||||||||
Transfer and filing fees
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- | - | 2,356 | 300 | 12,020 | |||||||||||||||
Office and sundry
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1,506 | 2,048 | 3,498 | 3,619 | 36,862 | |||||||||||||||
Interest expenses
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3,681 | 2,360 | 7,042 | 4,624 | 22,352 | |||||||||||||||
Rent
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- | 1,500 | 1,500 | 3,000 | 18,500 | |||||||||||||||
Foreign exchange (gain) loss
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- | 61 | 193 | 133 | (6,252 | ) | ||||||||||||||
Travel
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- | 1,893 | - | 1,893 | 8,325 | |||||||||||||||
21,135 | 23,368 | 53,701 | 47,554 | 399,217 | ||||||||||||||||
Net Loss and Comprehensive Loss
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(21,135 | ) | (23,368 | ) | (53,701 | ) | (47,554 | ) | (399,217 | ) | ||||||||||
Basic And Diluted Loss Per Common Share
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$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.01 | ) | ||||||||
Weighted Average Number Of Common Shares Outstanding
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7,070,000 | 7,070,000 | 7,070,000 | 7,070,000 |
CUMULATIVE
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||||||||||||
PERIOD FROM
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||||||||||||
SIX
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SIX
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INCEPTION
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||||||||||
MONTHS
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MONTHS
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APRIL 21
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||||||||||
ENDED
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ENDED
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2006 TO
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||||||||||
DECEMBER 31
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DECEMBER 31
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DECEMBER 31
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||||||||||
2012
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2011
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2012
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||||||||||
Cash Provided by (Used for):
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||||||||||||
Operating Activities
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||||||||||||
Net loss for the period
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$ | (53,701 | ) | $ | (47,554 | ) | $ | (399,217 | ) | |||
Adjustment for items not involving cash:
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||||||||||||
Accrued interest expense
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7,042 | 4,624 | 22,352 | |||||||||
Changes in operating assets and liabilities:
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||||||||||||
Receivable and prepaid expenses
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- | - | (1,500 | ) | ||||||||
Accounts payable and accrued liabilities
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35,147 | 35,204 | 165,647 | |||||||||
(11,512 | ) | (7,726 | ) | (212,718 | ) | |||||||
Financing Activity
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||||||||||||
Bank indebtedness
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11 | - | 11 | |||||||||
Loan payable
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9,951 | 8,566 | 64,493 | |||||||||
Due to related parties
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- | (880 | ) | 41,154 | ||||||||
Issue of share capital
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- | - | 107,060 | |||||||||
9,962 | 7,686 | 212,718 | ||||||||||
Net Decrease In Cash
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(1,550 | ) | (40 | ) | - | |||||||
Cash, Beginning Of Period
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1,550 | 51 | - | |||||||||
Cash, End Of Period
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$ | - | $ | 11 | $ | - | ||||||
Supplemental Information of Cash Flow Information
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||||||||||||
Interest paid
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$ | - | $ | - | $ | - | ||||||
Income taxes paid
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$ | - | $ | - | $ | - |
COMMON STOCK
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DEFICIT
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|||||||||||||||||||||||
NUMBER
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ACCUMULATED
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ACCUMULATED
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||||||||||||||||||||||
OF
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ADDITIONAL
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OTHER
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DURING THE
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|||||||||||||||||||||
COMMON
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PAR
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PAID-IN
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COMPREHENSIVE
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EXPLORATION
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||||||||||||||||||||
SHARES
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VALUE
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CAPITAL
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INCOME
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STAGE
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TOTAL
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|||||||||||||||||||
Beginning balance, April 21, 2006
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- | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
April 24, 2006 – shares issued for cash at $0.00001
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6,000,000 | 60 | - | - | - | 60 | ||||||||||||||||||
Net loss for the year
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- | - | - | - | (10,440 | ) | (10,440 | ) | ||||||||||||||||
Balance, June 30, 2006
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6,000,000 | 60 | - | - | (10,440 | ) | (10,380 | ) | ||||||||||||||||
March 28, 2007-shares issued for cash at $0.10
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1,070,000 | 10 | 106,990 | - | - | 107,000 | ||||||||||||||||||
Net loss for the year
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- | - | - | - | (36,562 | ) | (36,562 | ) | ||||||||||||||||
Unrealized foreign exchange gain
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- | - | - | 6,309 | - | 6,309 | ||||||||||||||||||
Balance, June 30, 2007
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7,070,000 | 70 | 106,990 | 6,309 | (47,002 | ) | 66,367 | |||||||||||||||||
Net loss for the year
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- | - | - | - | (67,681 | ) | (67,681 | ) | ||||||||||||||||
Realized foreign exchange gain
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- | - | - | (6,309 | ) | - | (6,309 | ) | ||||||||||||||||
Balance, June 30, 2008
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7,070,000 | 70 | 106,990 | - | (114,683 | ) | (7,623 | ) | ||||||||||||||||
Net loss for the year
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- | - | - | - | (22,415 | ) | (22,415 | ) | ||||||||||||||||
Balance, June 30, 2009
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7,070,000 | 70 | 106,990 | - | (137,098 | ) | (30,038 | ) | ||||||||||||||||
Net loss for the year
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- | - | - | - | (13,061 | ) | (13,061 | ) | ||||||||||||||||
Balance, June 30, 2010
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7,070,000 | 70 | 106,990 | - | (150,159 | ) | (43,099 | ) | ||||||||||||||||
Net loss for the year
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- | - | - | - | (88,253 | ) | (88,253 | ) | ||||||||||||||||
Balance, June 30, 2011
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7,070,000 | 70 | 106,990 | - | (238,412 | ) | (131,352 | ) | ||||||||||||||||
Net loss for the year
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- | - | - | - | (107,104 | ) | (107,104 | ) | ||||||||||||||||
Balance, June 30, 2012
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7,070,000 | 70 | 106,990 | - | (345,516 | ) | (238,456 | ) | ||||||||||||||||
Net loss for the period
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- | - | - | - | (53,701 | ) | (53,701 | ) | ||||||||||||||||
Balance, December 31, 2012
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7,070,000 | $ | 70 | $ | 106,990 | $ | - | $ | (399,217 | ) | $ | (292,157 | ) |
2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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a)
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On April 24, 2006, the Company issued 6,000,000 common shares at $0.00001 per share to two founding shareholders.
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b)
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On March 28, 2007, the Company closed its public offering and issued additional 1,070,000 common shares at $0.10.
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c)
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The Company has no stock option plan, warrants or other dilutive securities.
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7.
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CONTRACTUAL OBLIGATIONS AND COMMITMENTS
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ITEM 2.
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
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ITEM 2.
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. (Continued)
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ITEM 3.
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QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
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ITEM 4.
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CONTROLS AND PROCEDURES.
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ITEM 1A.
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RISK FACTORS
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ITEM 6.
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EXHIBITS.
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Exhibit No.
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Document Description
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101.INS
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XBRL Instance Document
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101.SCH
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XBRL Taxonomy Extension Schema
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101.CAL
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XBRL Taxonomy Extension Calculation Linkbase
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101.DEF
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XBRL Taxonomy Extension Definition Linkbase
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101.LAB
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XBRL Taxonomy Extension Label Linkbase
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101.PRE
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XBRL Taxonomy Extension Presentation Linkbase
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GOLDEN STAR RESOURCE CORP.
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(Registrant)
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BY:
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/s/ Steven Bergstrom
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Steven Bergstrom
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President, Principal Executive Officer and a member of the Board of Directors.
|
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BY:
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/s/ Marilyn Miller
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Marilyn Miller
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Principal Financial Officer, Principal Accounting Officer, Secretary/Treasurer and a member of the Board of Directors.
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1 Year Golden Star Resources (QB) Chart |
1 Month Golden Star Resources (QB) Chart |
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