SEC Filing ● Major ⚠ 8
MINR: 10-Q · periodic report
Minerva Gold Inc.'s 10-Q for the quarter ended May 31, 2026 discloses substantial doubt about the company's ability to continue as a going concern, with cash of zero, total assets of just $2,450, and a stockholders' deficit of $52,385.
Quarterly revenue was $9,000 from design services, down from $12,000 a year earlier, with a net loss of $2,221 and $6,132 of operating cash burn; operations are effectively sustained by $54,835 in undocumented demand loans from former officer Aftandil Aibekov, and management has no committed external funding sources.
Control holder and sole officer Zhang Chengcheng — who acquired 76.10% of the company for $264,600 — has signed a letter of intent to acquire Taizhou Sentian Sanitary Ware Co., Ltd., a company Zhang owns, in exchange for common and new preferred stock, while the company's Kazakhstan Arsy deposit option with Tuzashuu Ken was terminated after missed payment and exploration-spending obligations.
The filing also states that disclosure controls and procedures were not effective, and that on July 7, 2026 the company dismissed auditor Fruci & Associates II and appointed Boladale Lawal & Co. as successor.
SEC 10-Q • 1mo ago 
