Minerva Gold Inc. Reports Decrease in Revenue and Net Loss for Quarter Ending May 31, 2026

Minerva Gold Inc. reported its financial results for the three months ending May 31, 2026, revealing a revenue of $9,000, a decrease from $12,000 in the same period last year. The company's operating expenses also declined to $11,221 from $14,275, resulting in a net loss of $2,221, slightly improved from a loss of $2,275 in the prior year. The weighted average number of common shares outstanding remained constant at 6,570,000, and the loss per share was reported as $(0.00) for both periods.

The company's total assets significantly decreased to $2,450 as of May 31, 2026, down from $10,116 at the end of February 2026. Total liabilities also saw a reduction, amounting to $54,835 compared to $60,280 previously. However, stockholders' equity remained negative, increasing to $(52,385) from $(50,164). The company continues to face challenges in establishing a sustainable revenue stream, raising concerns about its ability to continue as a going concern.

Strategically, Minerva Gold has expanded its operations to include design services, aiming to diversify its offerings beyond mineral exploration. This move aligns with the company's long-term vision to adapt to evolving market needs. Additionally, a change in control occurred on April 10, 2025, when Zhang Chengcheng acquired a majority stake in the company, leading to a shift in leadership. Following this, the company entered into a Letter of Intent to acquire Taizhou Sentian Sanitary Ware Co., Ltd., which is expected to be finalized by August 31, 2026.

Operationally, the company has not reported significant changes in customer counts or engagement metrics, and it continues to operate with a small team. As of May 31, 2026, Minerva Gold had no cash reserves, down from $7,077 at the end of February 2026, and it has historically relied on loans from related parties to fund its operations. The company has indicated that it will require additional capital to meet its operational needs and maintain its reporting status, with no committed sources of funding currently available.

Looking ahead, Minerva Gold's management acknowledges the need for additional capital resources to support ongoing operations and fulfill existing obligations. The company is exploring options for raising funds through equity or debt financing, although there are no assurances that it will be successful in securing the necessary funding. The financial statements reflect substantial doubt about the company's ability to continue as a going concern, emphasizing the critical need for strategic financial planning and operational adjustments in the coming months.