Home / Going-concern warnings / MAGELLAN COPPER & GOLD Corp
Filed 2025-08-15 路 Form 10-Q 路 Accession 0001683168-25-006229 nano
Price before filing: $0.095 (2025-08-14 close, split/dividend-adjusted)
Market cap at flag: $2.5M (2025-08-15) 路 Latest: $2.4M (2026-10-15)
| Window | MAGE | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +28.4% | +2.5% | +25.9% | 2025-09-15 |
| 90 days | +139.5% | +4.5% | +135.0% | 2025-11-13 |
| 180 days | +168.7% | +7.9% | +160.8% | 2026-02-11 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 1 insider sold $10K (1 sale)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-08-15: red flag filed | |||||||
| 2025-08-26 | Gold Express Mines, Inc. 10% owner | Sale | 1,000,000 | $0.01 | $10K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-17 to 2025-09-14. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"At June 30, 2025, we had a working capital deficit of $ 1,958,391 , we had not yet generated any significant revenues or achieved profitable operations and we have accumulated losses of $ 21,945,337 . We expect to incur further losses in the development of our business, all of which raises substantial doubt as to our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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