10-K Filing

DAKOTA GOLD CORP. CIK: 1852353 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001062993-22-015574`
Period End Date	20220331
Filing Date	20220628
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 30 Cash Flow Statement 72 Stockholders Equity 24

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	144.30M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	144.30M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.77K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	70.85M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	35.14M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.44M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	35.14M	shares	Point-in-time
Receivable	`ReceivablesNetCurrent`	-	USD	Point-in-time
Receivable	`ReceivablesNetCurrent`	$94.81K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$384.90K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$376.69K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.83M	USD	Point-in-time
Mineral properties	`MineralPropertiesNet`	$57.93M	USD	Point-in-time
Mineral properties	`MineralPropertiesNet`	$76.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$870.74K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$20.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Total assets	`Assets`	$120.08M	USD	Point-in-time
Total assets	`Assets`	$70.63M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$846.62K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.54M	USD	Point-in-time
Accounts payable - related party	`AccountsPayableCurrent`	$3.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableCurrent`	-	USD	Point-in-time
Current portion of notes payable - related party	`OtherNotesPayableCurrent`	-	USD	Point-in-time
Current portion of notes payable - related party	`OtherNotesPayableCurrent`	$906.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.54M	USD	Point-in-time
Notes payable - related party, net of current portion and discount	`LongTermNotesPayable`	-	USD	Point-in-time
Notes payable - related party, net of current portion and discount	`LongTermNotesPayable`	$473.32K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$9.40M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$3.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.63M	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001; 144,302,330 shares authorized, 70,850,395 and 35,136,029 shares issued and outstanding as of March 31, 2022 and March 31, 2021, respectively	`CommonStockValue`	$70.85K	USD	Point-in-time
Common stock, par value $0.001; 144,302,330 shares authorized, 70,850,395 and 35,136,029 shares issued and outstanding as of March 31, 2022 and March 31, 2021, respectively	`CommonStockValue`	$35.14K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$100.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.68M	USD	Point-in-time
Equity attributable to stockholders of the Company	`StockholdersEquity`	$37.82M	USD	Point-in-time
Equity attributable to stockholders of the Company	`StockholdersEquity`	$113.83M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$21.18M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$761.64K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$59.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$70.63M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$120.08M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Exploration expenses	`ExplorationCosts`	$7.33M	USD	Annual
Exploration expenses	`ExplorationCosts`	$271.85K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.82M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$23.94M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.09M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-31.28M	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$11.24K	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$79.00K	USD	Annual
Loss on settlement of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-124.52K	USD	Annual
Loss on settlement of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	Annual
Gain on derivative assets	`DerivativeGainOnDerivative`	$27.09M	USD	Annual
Gain on derivative assets	`DerivativeGainOnDerivative`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$32.44K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$24.58K	USD	Annual
Total other incomes (expenses)	`OtherNonoperatingIncomeExpense`	$27.20M	USD	Annual
Total other incomes (expenses)	`OtherNonoperatingIncomeExpense`	$-88.70K	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-31.37M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.11M	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-413.42K	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-5.69M	USD	Annual
Net income (loss)	`ProfitLoss`	$25.52M	USD	Annual
Net income (loss)	`ProfitLoss`	$-25.68M	USD	Annual
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-490.50K	USD	Annual
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-13.07M	USD	Annual
Net income (loss) attributable to owners of the Company	`NetIncomeLoss`	$26.01M	USD	Annual
Net income (loss) attributable to owners of the Company	`NetIncomeLoss`	$-12.61M	USD	Annual
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$1.12	USD	Annual
Basic and diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.35	USD	Annual
Weighted average number of basic and diluted shares of common stock outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.17M	shares	Annual
Weighted average number of basic and diluted shares of common stock outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.58M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$25.52M	USD	Annual
Net income (loss)	`ProfitLoss`	$-25.68M	USD	Annual
Depreciation expense	`Depreciation`	$134.00K	USD	Annual
Depreciation expense	`Depreciation`	$17.31K	USD	Annual
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-124.52K	USD	Annual
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Stock-based compensation expense	`EmployeeBenefitsAndShareBasedCompensation`	$121.39K	USD	Annual
Stock-based compensation expense	`EmployeeBenefitsAndShareBasedCompensation`	$19.59M	USD	Annual
Accretion of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	Annual
Accretion of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$86.02K	USD	Annual
Gain on derivative assets	`DerivativeGainOnDerivative`	$27.09M	USD	Annual
Gain on derivative assets	`DerivativeGainOnDerivative`	-	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-413.42K	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-5.69M	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	$13.32K	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	$94.81K	USD	Annual
Prepaid expenses and deposit	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-8.21K	USD	Annual
Prepaid expenses and deposit	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$357.18K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.69M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$278.87K	USD	Annual
Accounts payable - related party	`IncreaseDecreaseInAccountsPayable`	$-319.24K	USD	Annual
Accounts payable - related party	`IncreaseDecreaseInAccountsPayable`	$-3.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.17M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.91M	USD	Annual
Issuance of note receivable	`IssuanceOfNoteReceivable`	$1.15M	USD	Annual
Issuance of note receivable	`IssuanceOfNoteReceivable`	-	USD	Annual
Receipts on loan receivable	`ProceedsFromCollectionOfLoansReceivable`	$407.83K	USD	Annual
Receipts on loan receivable	`ProceedsFromCollectionOfLoansReceivable`	-	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$879.25K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$492.27K	USD	Annual
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	Annual
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$20.00K	USD	Annual
Purchases of mineral properties	`PaymentsToAcquireMineralRights`	$8.65M	USD	Annual
Purchases of mineral properties	`PaymentsToAcquireMineralRights`	$12.81M	USD	Annual
Cash acquired on acquisition	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash acquired on acquisition	`CashAcquiredFromAcquisition`	$9.70M	USD	Annual
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.73M	USD	Annual
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.16M	USD	Annual
Issuance of share capital, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	$318.57K	USD	Annual
Issuance of share capital, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	$22.56M	USD	Annual
Proceeds from sale of DTRC common stock	`ProceedsFromIssuanceOfCommonStock`	$49.52M	USD	Annual
Proceeds from sale of DTRC common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Payment of cash dividend to non-controlling interest	`PaymentsOfDividends`	$4.36M	USD	Annual
Payment of cash dividend to non-controlling interest	`PaymentsOfDividends`	-	USD	Annual
Proceeds from exercise of DTRC stock options and warrants	`ProceedsFromConvertibleDebt`	$455.00K	USD	Annual
Proceeds from exercise of DTRC stock options and warrants	`ProceedsFromConvertibleDebt`	-	USD	Annual
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	$460.56K	USD	Annual
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	$801.72K	USD	Annual
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.20M	USD	Annual
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$49.03M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$11.30M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$29.96M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$41.40M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$141.77K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.44M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$41.40M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$141.77K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$11.44M	USD	Point-in-time
Common stock issued for purchase of mineral properties	`StockIssued1`	$1.32M	USD	Annual
Common stock issued for purchase of mineral properties	`StockIssued1`	$10.38M	USD	Annual
Conversion of note receivable as consideration for mineral properties	`ConversionOfStockAmountConverted1`	$1.45M	USD	Annual
Conversion of note receivable as consideration for mineral properties	`ConversionOfStockAmountConverted1`	-	USD	Annual
Common stock issued for settlement of notes payable	`CommonStockIssuedForSettlementOfNotesPayable`	-	USD	Annual
Common stock issued for settlement of notes payable	`CommonStockIssuedForSettlementOfNotesPayable`	$703.65K	USD	Annual
Related party accounts payable and accrued interest converted to related party note payable	`ConversionOfStockAmountIssued1`	$1.45M	USD	Annual
Related party accounts payable and accrued interest converted to related party note payable	`ConversionOfStockAmountIssued1`	-	USD	Annual
Conversion of derivative to consideration for mineral properties	`ConversionOfDerivativeToConsiderationForMineralProperties`	$12.34M	USD	Annual
Conversion of derivative to consideration for mineral properties	`ConversionOfDerivativeToConsiderationForMineralProperties`	-	USD	Annual
Value of convertible feature of promissory note as consideration for mineral properties	`ValueOfConvertibleFeatureOfPromissoryNoteAsConsiderationForMineralProperties`	-	USD	Annual
Value of convertible feature of promissory note as consideration for mineral properties	`ValueOfConvertibleFeatureOfPromissoryNoteAsConsiderationForMineralProperties`	$1.84M	USD	Annual
Common stock issued for acquisition of non-controlling interest	`IssuanceOfCommonStockOnAcquisitionOfNonControllingInterest`	$48.80M	USD	Annual
Common stock issued for acquisition of non-controlling interest	`IssuanceOfCommonStockOnAcquisitionOfNonControllingInterest`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.83M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$761.64K	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$59.00M	USD	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	35.14M	shares	Point-in-time
Common stock issued for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$49.52M	USD	Annual
Common stock issued for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$22.56M	USD	Annual
DTRC common stock issued	`StockIssuedDuringPeriodValueOther`	$49.52M	USD	Annual
Acquisition of DTRC common stock	`StockIssuedDuringPeriodValueAcquisitions`	$12.53M	USD	Annual
Payment of cash dividend by DTRC	`DividendsCommonStockCash`	$4.36M	USD	Annual
DTRC common stock issued for investment in mineral property	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$1.32M	USD	Annual
DTRC common stock issued for investment in mineral property	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$10.38M	USD	Annual
DTRC common stock issued upon conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$703.65K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.59M	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$121.39K	USD	Annual
Debt discount on notes payable - related party	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$86.03K	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$455.00K	USD	Annual
Net income (loss) for the year	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$25.52M	USD	Annual
Net income (loss) for the year	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-25.68M	USD	Annual
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.83M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$761.64K	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$59.00M	USD	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	35.14M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.