10-Q Filing

DAKOTA GOLD CORP. CIK: 1852353 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001062993-22-017622`
Period End Date	20220630
Filing Date	20220810
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 23

Balance Sheet 44 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, Shares Authorized	`CommonStockSharesAuthorized`	144.30M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	144.30M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	70.85M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	71.99M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.40M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	71.99M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$665.57K	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$94.81K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$376.69K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$970.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.87M	USD	Point-in-time
Mineral rights and properties	`MineralPropertiesNet`	$76.96M	USD	Point-in-time
Mineral rights and properties	`MineralPropertiesNet`	$77.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.28M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$40.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$20.00K	USD	Point-in-time
Total assets	`Assets`	$120.08M	USD	Point-in-time
Total assets	`Assets`	$115.00M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.55M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.54M	USD	Point-in-time
Deferred tax liability	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$2.49M	USD	Point-in-time
Deferred tax liability	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$3.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.04M	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, 71,994,644 and 70,850,395 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively	`CommonStockValue`	$70.85K	USD	Point-in-time
Common stock, par value $0.001; 144,302,330 shares authorized, 71,994,644 and 70,850,395 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively	`CommonStockValue`	$71.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$100.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$102.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.26M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$109.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$113.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$115.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$120.08M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Exploration expenses	`ExplorationCosts`	$2.18M	USD	1 Quarter
Exploration expenses	`ExplorationCosts`	$3.77M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.31M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$10.73M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.91M	USD	1 Quarter
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-13.41K	USD	1 Quarter
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$32.87K	USD	1 Quarter
Loss on settlement of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-54.17K	USD	1 Quarter
Loss on settlement of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$237.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$19.86K	USD	1 Quarter
Interest expense	`InterestExpense`	$37.98K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Total other incomes (expenses)	`OtherNonoperatingIncomeExpense`	$-105.31K	USD	1 Quarter
Total other incomes (expenses)	`OtherNonoperatingIncomeExpense`	$52.73K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.03M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.02M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-174.98K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.22M	USD	1 Quarter
Net loss	`ProfitLoss`	$-12.84M	USD	1 Quarter
Net loss	`ProfitLoss`	$-5.81M	USD	1 Quarter
Less: Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-4.55M	USD	1 Quarter
Net loss attributable to owners of the Company	`NetIncomeLoss`	$-8.29M	USD	1 Quarter
Net loss attributable to owners of the Company	`NetIncomeLoss`	$-5.81M	USD	1 Quarter
Basic loss per share	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic loss per share	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Diluted loss per share	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted loss per share	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Weighted average number of basic shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	49.06M	shares	1 Quarter
Weighted average number of basic shares of common stock outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	70.96M	shares	1 Quarter
Weighted average number of diluted shares of common stock outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	70.96M	shares	1 Quarter
Weighted average number of diluted shares of common stock outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.06M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-12.84M	USD	1 Quarter
Net loss	`ProfitLoss`	$-5.81M	USD	1 Quarter
Depreciation expense	`Depreciation`	$48.22K	USD	1 Quarter
Depreciation expense	`Depreciation`	$27.66K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-54.17K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Stock-based compensation expense	`EmployeeBenefitsAndShareBasedCompensation`	$1.92M	USD	1 Quarter
Stock-based compensation expense	`EmployeeBenefitsAndShareBasedCompensation`	$10.60M	USD	1 Quarter
Accretion of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	1 Quarter
Accretion of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$37.88K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-174.98K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.22M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$570.76K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$41.81K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$593.67K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$317.09K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$10.80K	USD	1 Quarter
Accounts payable - related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$78.25K	USD	1 Quarter
Accounts payable - related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.21M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.94M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.84K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$140.62K	USD	1 Quarter
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$20.00K	USD	1 Quarter
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Purchases of mineral rights and properties	`PaymentsToAcquireMineralRights`	$37.88K	USD	1 Quarter
Purchases of mineral rights and properties	`PaymentsToAcquireMineralRights`	$901.20K	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-160.72K	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.04M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	$351.07K	USD	1 Quarter
Issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Proceeds from sale of DTRC common stock	`ProceedsFromIssuanceOfCommonStock`	$16.90M	USD	1 Quarter
Proceeds from sale of DTRC common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$12.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	$376.55K	USD	1 Quarter
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.87M	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$13.89M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.36M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.04M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.44M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.04M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.44M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.40M	USD	Point-in-time
Common stock issued for purchase of mineral properties	`StockIssued1`	-	USD	1 Quarter
Common stock issued for purchase of mineral properties	`StockIssued1`	$1.12M	USD	1 Quarter
Common stock issued for settlement of notes payable	`StockIssuedTwo`	$223.26K	USD	1 Quarter
Common stock issued for settlement of notes payable	`StockIssuedTwo`	-	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$59.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.83M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$75.35M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$109.96M	USD	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	71.99M	shares	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time
Common stock issued for exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$12.00K	USD	1 Quarter
Common stock issued for exercise of options (Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	37,500.00	shares	1 Quarter
Common stock issued for cash, net of issuance costs	`StockIssuedForCash`	$351.07K	USD	1 Quarter
Common Stock Issued (Shares)	`StockIssuedDuringPeriodValueNewIssues`	$10.40M	USD	1 Quarter
Cash received for unissued DTRC shares of common stock	`CashReceivedForUnissuedSharesValue`	$6.50M	USD	1 Quarter
Common stock issued for purchase of mineral properties	`StockIssuedDuringPeriodValueInvestmentInMineralProperties`	$1.12M	USD	1 Quarter
Common stock issued upon conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$223.26K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$10.60M	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.92M	USD	1 Quarter
Net loss for the Period	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-5.81M	USD	1 Quarter
Net loss for the Period	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-12.84M	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$59.00M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.83M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$75.35M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$109.96M	USD	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	71.99M	shares	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	70.85M	shares	Point-in-time

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