10-Q Filing

FINTRADE SHERPA, INC. CIK: 1319643 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001199835-21-000299`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	lsmg-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 28 Cash Flow Statement 36 Stockholders Equity 12

Balance Sheet 36 line items

Line Item	Tag	Value	Unit	Period
Common shares, authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Common shares, authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Cash	`Cash`	$12.64K	USD	Point-in-time
Cash	`Cash`	$21.34K	USD	Point-in-time
Common shares, issued	`CommonStockSharesIssued`	50.61M	shares	Point-in-time
Common shares, issued	`CommonStockSharesIssued`	50.63M	shares	Point-in-time
Cash	`Cash`	$13.73K	USD	Point-in-time
Cash	`Cash`	$10.50K	USD	Point-in-time
Prepaid fees	`PrepaidExpenseCurrent`	$3.96K	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid fees	`PrepaidExpenseCurrent`	$3.94K	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$25.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.58K	USD	Point-in-time
Mineral property interest, unproven	`MineralPropertiesNet`	$230.18K	USD	Point-in-time
Mineral property interest, unproven	`MineralPropertiesNet`	$230.18K	USD	Point-in-time
Total assets	`Assets`	$255.48K	USD	Point-in-time
Total assets	`Assets`	$246.76K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$84.18K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$132.88K	USD	Point-in-time
Due to related parties and accrued interest	`DueToRelatedPartiesCurrent`	$2.11M	USD	Point-in-time
Due to related parties and accrued interest	`DueToRelatedPartiesCurrent`	$2.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.24M	USD	Point-in-time
Authorized: 480,000,000 voting common shares and 20,000,000 preferred shares, issued: 50,634,536 common shares and no preferred shares at March 31, 2021, 50,605,965 common shares and no preferred shares at December 31, 2020	`CommonStockValue`	$3.42K	USD	Point-in-time
Authorized: 480,000,000 voting common shares and 20,000,000 preferred shares, issued: 50,634,536 common shares and no preferred shares at March 31, 2021, 50,605,965 common shares and no preferred shares at December 31, 2020	`CommonStockValue`	$3.45K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.49M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.37M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.50M	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$255.48K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$246.76K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Consulting services	`ConsultingServices`	$31.19K	USD	1 Quarter
Consulting services	`ConsultingServices`	$65.85K	USD	1 Quarter
Corporate support services	`CorporateSupportServices`	$469.00	USD	1 Quarter
Corporate support services	`CorporateSupportServices`	$495.00	USD	1 Quarter
Exploration and evaluation	`ExplorationExpense`	-	USD	1 Quarter
Exploration and evaluation	`ExplorationExpense`	$7.53K	USD	1 Quarter
Mineral option fees	`MineralOptionFees`	$24.98K	USD	1 Quarter
Mineral option fees	`MineralOptionFees`	$24.99K	USD	1 Quarter
Office, foreign exchange and sundry	`GeneralAndAdministrativeExpense`	$1.38K	USD	1 Quarter
Office, foreign exchange and sundry	`GeneralAndAdministrativeExpense`	$3.34K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$2.27K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$19.83K	USD	1 Quarter
Transfer and filing fees	`TransferAndFilingFees`	$17.66K	USD	1 Quarter
Transfer and filing fees	`TransferAndFilingFees`	$18.73K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$114.58K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$104.13K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-104.13K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-114.58K	USD	1 Quarter
Interest, bank and finance charges	`InterestAndDebtExpense`	$22.75K	USD	1 Quarter
Interest, bank and finance charges	`InterestAndDebtExpense`	$18.93K	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-126.88K	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-133.51K	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.61M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.61M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-126.88K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-133.51K	USD	1 Quarter
Foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossRealized`	$-42.00	USD	1 Quarter
Foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossRealized`	$149.00	USD	1 Quarter
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$991.00	USD	1 Quarter
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Prepaid fees	`IncreaseDecreaseInPrepaidExpense`	$20.24K	USD	1 Quarter
Prepaid fees	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$72.95K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$53.34K	USD	1 Quarter
Accrued mineral option fees	`IncreaseDecreaseInOtherAccruedLiabilities`	$24.98K	USD	1 Quarter
Accrued mineral option fees	`IncreaseDecreaseInOtherAccruedLiabilities`	$24.99K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$22.61K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$12.81K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.30K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-61.77K	USD	1 Quarter
Proceeds from loans payable - related party	`ProceedsFromRelatedPartyDebt`	$15.00K	USD	1 Quarter
Proceeds from loans payable - related party	`ProceedsFromRelatedPartyDebt`	$65.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$65.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$3.23K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$8.70K	USD	1 Quarter
Cash, beginning of period	`Cash`	$12.64K	USD	Point-in-time
Cash, beginning of period	`Cash`	$21.34K	USD	Point-in-time
Cash, beginning of period	`Cash`	$13.73K	USD	Point-in-time
Cash, beginning of period	`Cash`	$10.50K	USD	Point-in-time
Cash, end of period	`Cash`	$12.64K	USD	Point-in-time
Cash, end of period	`Cash`	$21.34K	USD	Point-in-time
Cash, end of period	`Cash`	$13.73K	USD	Point-in-time
Cash, end of period	`Cash`	$10.50K	USD	Point-in-time
Cash paid during the period for: interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the period for: interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the period for: income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid during the period for: income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Expenses paid by related party on behalf of the Company	`ExpensesPaidByRelatedParty`	$24.25K	USD	1 Quarter
Expenses paid by related party on behalf of the Company	`ExpensesPaidByRelatedParty`	$32.64K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-1.37M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-1.50M	USD	Point-in-time
Shares issued on cashless exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Stock options issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$991.00	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-126.88K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-133.51K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-1.37M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-1.50M	USD	Point-in-time

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