ACRL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2017-11-20

• The Company recorded revenues of $36 during the nine months ended September 30, 2017. We expensed exploration costs of $33,578, professional fees of $104,284, stock based compensation of $195,000, impairment expenses of $228,647, related

• party consulting fees of $246,000, and selling and administrative costs of $142,973, resulting in total operating expenses of $950,482. We accrued interest expenses of $125,342, recorded a loss on the conversion of debt of $30,000 and recorded foreign exchange loss of $1,688. As a result, we had a n…

• Comparatively, the Company did not record any revenues during the nine months ended September 30, 2016. We expensed exploration costs of $18,344, professional fees of $26,938, consulting fees of $56,689, management fees of $249,000, property taxes of $548, travel of $4,582 and selling and administra…

• The $950,842, or 422%, increase in net comprehensive loss for the nine months ended September 30, 2017 compared to the nine months ended September 30, 2016 is primarily due to compensation costs and interest expense during the nine months ended September 30, 2017.

• Total Assets. Total assets at were $12,531 and $21,565 at September 30, 2017 and December 31, 2016. Total assets at September 30, 2017 and December 31, 2016 consisted of cash of $10,421 and $17,670, respectively; prepaid expense of $-0- and $3,894, respectively; accounts receivable of $713 and &-0- …

Text removed vs the prior filing · source: 10-Q · 2017-08-14

• The Company did not record any revenues during the three months ended June 30, 2017. We expensed exploration costs of $32,317, professional fees of $59,702, consulting fees of $29,783, impairment expenses of $228,647, related party consulting fees of $150,000, and selling and administrative costs of…

• Comparatively, the Company did not record any revenues during the three months ended June 30, 2016. We expensed professional fees of $18,910, consulting fees of $36,014, related party consulting fees of 135,0000, stock based compensation of $6 and selling and administrative costs of $8,061, resultin…

• The $358,663, or 169%, increase in net comprehensive loss for the three months ended June 30, 2017 compared to the six months ended June 30, 2016 is primarily due to compensation costs and interest expense during the six months ended June 30, 2017.

• Results of Consolidated Operations for the six months ended June 30, 2017 and 2016.

• The Company did not record any revenues during the six months ended June 30, 2017. We expensed exploration costs of $33,578, professional fees of $104,284, stock based compensation of $195,000, impairment expenses of $228,647, related party consulting fees of $246,000, and selling and administrative…

Text added vs the prior filing · source: 10-Q · 2017-11-20

• The Company’s disclosure controls and procedures are designed to provide reasonable assurance of achieving their objectives. However, the Company’s management, including its Principal Executive Officer and Principal Financial Officer, does not expect that its disclosure controls and procedures will …

• conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefit of controls must be considered relative to their costs. B…

• There have been no changes in the Company’s internal control over financial reporting during the period ended September 30, 2017 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2017-08-14

• The Company’s disclosure controls and procedures are designed to provide reasonable assurance of achieving their objectives. However, the Company’s management, including its Principal Executive Officer and Principal Financial Officer, does not expect that its disclosure controls and procedures will …

• There have been no changes in the Company’s internal control over financial reporting during the period ended June 30, 2017 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.