Minerva Gold Inc. Reports Revenue Growth to $12,000 and Improved Net Loss in Latest Quarter

Minerva Gold Inc. reported its financial results for the three months ending May 31, 2025, revealing a revenue of $12,000, a significant increase from zero revenue during the same period in 2024. The company’s operating expenses rose slightly to $14,275 from $13,398 year-over-year. Consequently, Minerva Gold recorded a net loss of $2,275 for the quarter, a notable improvement compared to a net loss of $13,398 in the prior year. The basic and diluted loss per share remained at $(0.00) for both periods, with the weighted average number of shares outstanding unchanged at 6,570,000.

As of May 31, 2025, Minerva Gold's total assets decreased to $12,730 from $27,005 at the end of February 2025. The decline in assets was primarily attributed to a reduction in cash and cash equivalents, which fell to $9,580 from $17,180. Total liabilities also decreased to $55,780 from $67,780, while stockholders' equity showed a negative balance of $43,050, worsening from a negative $40,775 in the previous period. The company has accumulated losses of $79,450 since its inception in February 2021.

In terms of strategic developments, Minerva Gold has expanded its operations to include design services, diversifying its offerings beyond mineral exploration. This strategic shift aims to enhance the company's competitive position and adapt to the evolving needs of its client base. The company’s exploration activities are primarily focused in Kazakhstan, although recent efforts to secure mineral property options have faced challenges, including the termination of an agreement due to unmet obligations.

Operationally, the company has not reported significant changes in customer counts or user statistics, as its revenue primarily stems from the newly introduced design services. The company continues to rely on advances from related parties to support its operations, with a total of $55,780 in loans from its sole officer and director. Looking ahead, Minerva Gold anticipates the need for additional capital to meet its long-term operating requirements and plans to raise funds through equity or debt securities. However, management has expressed uncertainty regarding the availability of such financing on acceptable terms, which could impact the company's ability to pursue new business opportunities.