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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
|
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED
MARCH 31, 2013
|
OR
|
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
o
|
Smaller reporting company
|
x
|
FINANCIAL STATEMENTS
|
||
Item 1
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Financial Statements:
|
3
|
Balance Sheets as of March 31, 2013 and June 30, 2012
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3
|
|
Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended March 31, 2013, March 31, 2012 and from April 21, 2006 to March 31, 2013
|
4
|
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Statements of Cash Flows for the nine months ended March31, 2013, March 31, 2012 and from April 21, 2006 to March 31, 2013
|
5
|
|
Statements of Stockholders' (Deficiency) Equity from April 21, 2006 to March 31, 2013
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6
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Notes to Financial Statements
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7 - 14
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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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15 - 17
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Item 3
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Quantitative and Qualitative Disclosures About Market Risk
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17
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Item 4
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Controls and Procedures
|
17
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PART II – OTHER INFORMATION
|
||
Item 1A
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Risk Factors
|
18
|
Item 6
|
Exhibits
|
18
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Signatures
|
18
|
March 31,
|
June 30,
|
|||||||
2013
|
2012
|
|||||||
ASSETS
|
||||||||
Current
|
||||||||
Cash
|
$ | 1,208 | $ | 1,550 | ||||
Prepaid expenses
|
1,500 | 1,500 | ||||||
2,708 | 3,050 | |||||||
TOTAL ASSETS
|
$ | 2,708 | $ | 3,050 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
|
||||||||
Current
|
||||||||
Accounts payables and accrued liabilities
|
$ | 182,195 | $ | 130,500 | ||||
Loan payable
|
140,971 | 111,006 | ||||||
323,166 | 241,506 | |||||||
STOCKHOLDERS' (DEFICIENCY) EQUITY
|
||||||||
Capital stock
|
||||||||
Authorized:
|
||||||||
100,000,000 voting common shares with a par value of $0.00001 per share
|
||||||||
100,000,000 preferred shares with a par value of $0.00001 per share; none issued
|
||||||||
Issued:
|
||||||||
7,070,000 common shares at March 31, 2013 & June 30, 2012
|
70 | 70 | ||||||
Additional paid in capital
|
106,990 | 106,990 | ||||||
Deficit Accumulated During the Exploration Stage
|
(427,518 | ) | (345,516 | ) | ||||
(320,458 | ) | (238,456 | ) | |||||
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIENCY) EQUITY
|
$ | 2,708 | $ | 3,050 | ||||
CUMULATIVE
|
||||||||||||||||||||
PERIOD FROM
|
||||||||||||||||||||
THREE MONTHS ENDED
|
NINE MONTHS ENDED,
|
INCEPTION
|
||||||||||||||||||
MARCH 31,
|
MARCH 31,
|
APRIL 21, 2006 TO
|
||||||||||||||||||
2013
|
2012
|
2013
|
2012
|
MARCH 31, 2013
|
||||||||||||||||
Expenses
|
||||||||||||||||||||
Professional fees
|
$ | 9,502 | $ | 1,655 | $ | 21,464 | $ | 10,654 | $ | 167,903 | ||||||||||
Administration
|
4,500 | 4,500 | 13,500 | 13,500 | 49,500 | |||||||||||||||
Consulting fees
|
7,500 | 8,300 | 22,500 | 24,286 | 98,359 | |||||||||||||||
Mineral claim maintenance fees
|
27 | - | 3,177 | - | 13,177 | |||||||||||||||
Transfer and filing fees
|
1,005 | - | 3,361 | 300 | 13,025 | |||||||||||||||
Office and sundry
|
1,943 | 4,082 | 5,440 | 7,701 | 38,805 | |||||||||||||||
Interest expenses
|
3,824 | 2,532 | 10,866 | 7,156 | 26,176 | |||||||||||||||
Rent
|
- | 4,500 | 1,500 | 7,500 | 18,500 | |||||||||||||||
Travel
|
- | - | - | 1,893 | 8,325 | |||||||||||||||
Foreign exchange (gain) loss
|
- | 204 | 194 | 337 | (6,252 | ) | ||||||||||||||
28,301 | 25,773 | 82,002 | 73,327 | 427,518 | ||||||||||||||||
Basic and fully diluted loss per share
|
$ | 0.004 | $ | 0.004 | $ | 0.012 | $ | 0.010 | ||||||||||||
Weighted average number of common shares outstanding
|
7,070,000 | 7,070,000 | 7,070,000 | 7,070,000 |
CUMULATIVE
|
||||||||||||
PERIOD FROM
|
||||||||||||
NINE MONTHS ENDED
|
INCEPTION
|
|||||||||||
MARCH 31,
|
APRIL 21, 2006 TO
|
|||||||||||
2013
|
2012
|
MARCH 31, 2013
|
||||||||||
Cash flow from operating activities:
|
||||||||||||
Net loss for the period
|
$ | (82,002 | ) | $ | (73,327 | ) | $ | (427,518 | ) | |||
Items not affecting cash:
|
||||||||||||
Accrued interest expense
|
- | 7,156 | 26,176 | |||||||||
Changes in non-cash working capital:
|
||||||||||||
Prepaid expenses
|
- | (1,500 | ) | (1,500 | ) | |||||||
Accounts payables and accrued liabilities
|
51,695 | 49,774 | 182,195 | |||||||||
Net Cash Used in Operating Activities
|
(30,307 | ) | (17,897 | ) | (220,647 | ) | ||||||
Cash flow from financing activities
|
||||||||||||
Loan payable
|
29,965 | 19,709 | 114,795 | |||||||||
Issue of share capital
|
- | - | 107,060 | |||||||||
Net Cash Provided by Financing Activities
|
29,965 | 19,709 | 221,855 | |||||||||
Cash increase (decrease) in the period
|
(342 | ) | 1,812 | 1,208 | ||||||||
Cash, beginning of period
|
1,550 | 51 | - | |||||||||
Cash, end of period
|
$ | 1,208 | $ | 1,863 | $ | 1,208 |
NUMBER OF COMMON SHARES
|
PAR VALUE
|
ADDITIONAL PAID-IN CAPITAL
|
ACCUMULATED OTHER COMPREHENSIVE INCOME
|
DEFICIT ACCUMULATED DURING THE EXPLORATION STAGE
|
TOTAL
|
|||||
Beginning balance, April 21, 2006
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
-
|
April 24, 2006 - shares issued for cash at $0.00001
|
6,000,000
|
60
|
-
|
-
|
-
|
60
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(10,440)
|
(10,440)
|
||||
-
|
||||||||||
Balance, June 30, 2006
|
6,000,000
|
60
|
-
|
-
|
(10,440)
|
(10,380)
|
||||
March 28, 2007 - shares issued for cash at $0.10
|
1,070,000
|
10
|
106,990
|
-
|
-
|
107,000
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(36,562)
|
(36,562)
|
||||
Unrealized foreign exchange gain
|
-
|
-
|
-
|
6,309
|
-
|
6,309
|
||||
-
|
||||||||||
Balance June 30, 2007
|
7,070,000
|
70
|
106,990
|
6,309
|
(47,002)
|
66,367
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(67,681)
|
(67,681)
|
||||
Realized foreign exchange gain
|
-
|
-
|
-
|
(6,309)
|
(6,309)
|
|||||
-
|
||||||||||
Balance, June 30, 2008
|
7,070,000
|
-
|
70
|
-
|
106,990
|
-
|
-
|
(114,683)
|
(7,623)
|
|
Net loss for the year
|
-
|
-
|
-
|
-
|
(22,415)
|
(22,415)
|
||||
-
|
||||||||||
Balance, June 30, 2009
|
7,070,000
|
70
|
106,990
|
-
|
(137,098)
|
(30,038)
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(13,061)
|
(13,061)
|
||||
-
|
||||||||||
Balance, June 30, 2010
|
7,070,000
|
70
|
106,990
|
-
|
(150,159)
|
(43,099)
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(88,253)
|
(88,253)
|
||||
-
|
||||||||||
Balance, June 30, 2011
|
7,070,000
|
70
|
106,990
|
-
|
(238,412)
|
(131,352)
|
||||
Net loss for the year
|
-
|
-
|
-
|
-
|
(107,104)
|
(107,104)
|
||||
-
|
||||||||||
Balance, June 30, 2012
|
7,070,000
|
70
|
106,990
|
-
|
(345,516)
|
(238,456)
|
||||
Net loss for the period
|
-
|
-
|
-
|
-
|
(82,002)
|
(82,002)
|
||||
-
|
||||||||||
Balance, March 31, 2013
|
7,070,000
|
70
|
106,990
|
-
|
(427,518)
|
(320,458)
|
||||
1.
|
NATURE OF OPERATIONS
|
1.
|
NATURE OF OPERATIONS
|
2.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
|
a)
|
On April 24, 2006, the Company issued 6,000,000 common shares at $0.00001 per share to two founding shareholders.
|
|
b)
|
On March 28, 2007, the Company closed its public offering and issued additional 1,070,000 common shares at $0.10.
|
7.
|
CONTRACTUAL OBLIGATIONS AND COMMITMENTS
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. (Continued)
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. (Continued)
|
ITEM 3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
|
ITEM 4.
|
CONTROLS AND PROCEDURES.
|
ITEM 1A.
|
RISK FACTORS
|
ITEM 6.
|
EXHIBITS.
|
Exhibit No.
|
Document Description
|
101.INS
|
XBRL Instance Document
|
101.SCH
|
XBRL Taxonomy Extension Schema
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase
|
GOLDEN STAR RESOURCE CORP.
|
||
(Registrant)
|
||
BY:
|
/s/ Steven Bergstrom
|
|
Steven Bergstrom
|
||
President, Principal Executive Officer and a member of the Board of Directors.
|
||
BY:
|
/s/ Marilyn Miller
|
|
Marilyn Miller
|
||
Principal Financial Officer, Principal Accounting Officer, Secretary/Treasurer and a member of the Board of Directors.
|
1 Year Golden Star Resources (QB) Chart |
1 Month Golden Star Resources (QB) Chart |
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