0001165527-13-000094.txt : 20130122 0001165527-13-000094.hdr.sgml : 20130121 20130122172644 ACCESSION NUMBER: 0001165527-13-000094 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20121130 FILED AS OF DATE: 20130122 DATE AS OF CHANGE: 20130122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nevada Gold Corp. CENTRAL INDEX KEY: 0001433818 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-53724 FILM NUMBER: 13541075 BUSINESS ADDRESS: STREET 1: 2683 VIA DE LA VALLE STREET 2: SUITE G418 CITY: DEL MAR STATE: CA ZIP: 92014 BUSINESS PHONE: 858-367-9570 MAIL ADDRESS: STREET 1: 2683 VIA DE LA VALLE STREET 2: SUITE G418 CITY: DEL MAR STATE: CA ZIP: 92014 FORMER COMPANY: FORMER CONFORMED NAME: MASSEY EXPLORATION CORP. DATE OF NAME CHANGE: 20080429 10-Q 1 g6554a.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 30, 2012 Commission file number 000-53724 NEVADA GOLD CORP. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 2683 Via de la Valle, Suite G418 Del Mar, CA 92014 (Address of principal executive offices, including zip code) (858) 367-9570 (Telephone number, including area code) Empire Stock Transfer 2470 St. Rose Parkway, Suite 304 Henderson, NV 89074 Telephone (702) 818-5898 Facsimile (702) 974-1444 (Name and Address of Agent for Service) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. YES [X] NO [ ] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES [X] NO [ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer, "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [X] NO [ ] State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 53,550,000 shares as of January 14, 2013 ITEM 1. FINANCIAL STATEMENTS The financial statements for the quarter ended November 30, 2012 immediately follow. 2 NEVADA GOLD CORP. (FORMERLY MASSEY EXPLORATION CORP.) (An Exploration Stage Company) Balance Sheet --------------------------------------------------------------------------------
(Unaudited) (Audited) As of As of November 30, February 29, 2012 2012 ---------- ---------- ASSETS CURRENT ASSETS Cash $ 529 $ 365 ---------- ---------- TOTAL CURRENT ASSETS 529 365 ---------- ---------- TOTAL ASSETS $ 529 $ 365 ========== ========== LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable $ 90,854 $ 86,209 Loan Payable 67,563 15,750 Loan Payable - Related Party 16,629 5,771 ---------- ---------- TOTAL CURRENT LIABILITIES 175,045 107,731 ---------- ---------- TOTAL LIABILITIES 175,045 107,731 ---------- ---------- STOCKHOLDERS' EQUITY Preferred Stock ,$0.001 par value, 30,000,000 shares authorized, zero and zero shares issued and outstanding as of August 31, 2012 and February 29, 2012 Common stock, ($0.001 par value, 125,000,000 shares authorized; 53,550,000 shares issued and outstanding as of November 30, 2012 and February 29, 2012 53,550 53,550 Additional paid-in capital 24,450 24,450 Deficit accumulated during exploration stage (252,516) (185,366) ---------- ---------- TOTAL STOCKHOLDERS' EQUITY (174,516) (107,366) ---------- ---------- TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 529 $ 365 ========== ==========
See Notes to Financial Statements 3 NEVADA GOLD CORP. (FORMERLY MASSEY EXPLORATION CORP.) (An Exploration Stage Company) Statement of Operations --------------------------------------------------------------------------------
January 22, 2007 Three Months Three Months Nine Months Nine Months (inception) Ended Ended Ended Ended through November 30, November 30, November 30, November 30, November 30, 2012 2011 2012 2011 2012 ------------ ------------ ------------ ------------ ------------ REVENUES Profit Sharing $ -- $ -- $ -- $ -- $ 7 ------------ ------------ ------------ ------------ ------------ TOTAL REVENUES -- -- -- -- 7 EXPENSES Property Expenditures -- -- 47,400 -- 62,850 Professional Fees 2,266 2,004 10,120 122,042 157,293 General and Adminstrative 2,149 1,655 7,818 3,827 29,817 Interest Expense 1,438 188 1,813 563 2,563 ------------ ------------ ------------ ------------ ------------ TOTAL EXPENSES 5,853 3,846 67,151 126,432 252,523 ------------ ------------ ------------ ------------ ------------ NET INCOME (LOSS) $ (5,853) $ (3,846) $ (67,151) $ (126,432) $ (252,516) ============ ============ ============ ============ ============ BASIC EARNING (LOSS) PER SHARE $ 0.00 $ 0.00 $ 0.00 $ 0.00 ============ ============ ============ ============ WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 53,550,000 53,550,000 53,550,000 53,550,000 ============ ============ ============ ============
See Notes to Financial Statements 4 NEVADA GOLD CORP. (FORMERLY MASSEY EXPLORATION CORP.) (An Exploration Stage Company) Statement of Cash Flows --------------------------------------------------------------------------------
January 22, 2007 Nine Months Nine Months (inception) Ended Ended through November 30, November 30, November 30, 2012 2011 2012 ---------- ---------- ---------- CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (67,151) $ (126,432) $ (252,516) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Changes in operating assets and liabilities: Accounts Payable 4,645 83,952 90,854 Deposit -- 29,970 -- Accrued interest 1,813 563 2,563 ---------- ---------- ---------- NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (60,693) (11,947) (159,099) CASH FLOWS FROM INVESTING ACTIVITIES NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES -- -- -- CASH FLOWS FROM FINANCING ACTIVITIES Loan Payable 50,000 -- 65,000 Loan Payable - Related Party 10,857 3,771 16,629 Issuance of common stock -- -- 78,000 ---------- ---------- ---------- NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 60,857 3,771 159,629 ---------- ---------- ---------- NET INCREASE (DECREASE) IN CASH 164 (8,176) 529 CASH AT BEGINNING OF PERIOD 365 8,785 -- ---------- ---------- ---------- CASH AT END OF PERIOD $ 529 $ 610 $ 529 ========== ========== ========== SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid during year for: Interest $ -- $ -- $ -- ========== ========== ========== Income Taxes $ -- $ -- $ -- ========== ========== ==========
See Notes to Financial Statements 5 NEVADA GOLD CORP. (FORMERLY MASSEY EXPLORATION CORP.) (An Exploration Stage Company) Notes to Financial Statements November 30, 2012 NOTE 1. BASIS OF PRESENTATION The accompanying unaudited interim financial statements of Nevada Gold Corp. (formerly, Massey Exploration Corp. the "Company"), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's Form 10-K filed with SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the Form 10-K have been omitted. NOTE 2. GOING CONCERN As of November 30, 2012, the Company has not generated revenues and has accumulated losses since inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, its ability to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. NOTE 3. NOTE PAYABLE As of August 31, 2012, the Company owes two unrelated parties a total of $67,563. The first note was for f$15,000 forwarded on behalf of the Company as a retainer for legal fees. The note bears interest of 5% per annum and the term expires on February 28, 2013. The second note for $50,000 bears interest at a rate of 10% per annum and has no maturity date. NOTE 4. STOCK TRANSACTIONS On July 27, 2012 the Company effected an 8.5 for 1 forward split of its issued and outstanding share capital such that every one share of common stock issued and outstanding prior to the split was exchanged for eight and one half post-split shares of common stock. The Company's post-split authorized capital remains unchanged at 75,000,000 shares of common stock with a par value of $0.001 per share. All share amounts have been retroactively adjusted for all periods presented. 6 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION FORWARD LOOKING STATEMENTS This report contains forward-looking statements that involve risk and uncertainties. We use words such as "anticipate", "believe", "plan", "expect", "future", "intend", and similar expressions to identify such forward-looking statements. Investors should be aware that all forward-looking statements contained within this filing are good faith estimates of management as of the date of this report and actual results may differ materially from historical results or our predictions of future results. GENERAL On May 31, 2011, our board of directors approved an agreement and plan of merger to merge into our wholly-owned subsidiary Massey Exploration Corp., a Delaware corporation and to carry out a continuance of our company from the State of Nevada to the State of Delaware. On July 8, 2011, we filed articles of merger with the Nevada Secretary of State to effect the domicile change to the State of Delaware. On July 8, 2011, we filed a certificate of merger with the Delaware Secretary of State to effect the domicile change to the State of Delaware. In conjunction with the domicile change, our board of directors adopted a new certificate of incorporation under the laws of the State of Delaware to increase our authorized number of shares of common stock from 75,000,000 to 125,000,000 shares of common stock, with a par value of $0.001 and to create a class of 30,000,000 preferred shares, with a par value of $0.001. Also in conjunction with the domicile change, our board of directors adopted new bylaws under the laws of the State of Delaware. The bylaws are attached, as Exhibit 3.3, to our current report filed on Form 8-K with the Securities and Exchange Commission on July 13, 2011. These amendments were approved on May 31, 2011 by 51.9% of the holders of our common stock by way of a written consent resolution. Our definitive Schedule 14C, Information Statement, was filed on June 17, 2011. On July 11, 2011, the Financial Industry Regulatory Authority ("FINRA") processed our request to carry out a continuance from the State of Nevada to the State of Delaware. The domicile change has become effective with the Over-the-Counter Bulletin Board at the opening of trading on July 11, 2011 under our current symbol "MSXP". Effective July 20, 2012, Michael Hawitt resigned as president, secretary, treasurer, chief executive officer, chief financial officer and as director of our company. Mr. Hawitt's resignation was not the result of any disagreements with our company regarding our operations, policies, practices or otherwise. Concurrently with Mr. Hawitt's resignation, we appointed Merrill W. Moses as president, secretary, treasurer, chief executive officer, chief financial officer and as director of our company, effective July 20, 2012. In addition, we also appointed Charles C. Hooper as vice president of our company. Also 7 effective July 20, 2012, we increased the number of directors on our board of directors to two (2) and appointed Charles C. Hooper as a member to our company's board of directors. On July 23, 2012, the Delaware Secretary of State accepted for filing of a Certificate of Amendment to our Certificate of Incorporation to change our name from Massey Exploration Corp. to Nevada Gold Corp. and to effect a forward split of our issued and outstanding shares of common stock on the basis of 8.5 new for one (1) old, effective July 27, 2012. As a result, our issued and outstanding shares of common stock will increase from 6,300,000 to 53,550,000 shares of common stock, par value of $0.001. Our authorized share capital will remain the same. The Certificate of Amendment is as Exhibit 3.1 to the Form 8-K filed with the Securities and Exchange Commission on July 26, 2012. The name change and the forward split were approved on June 27, 2012 by our board of directors and 51.5% of the holders of our common stock by way of a written consent resolution. Effective July 27, 2012, in accordance with approval from the Financial Industry Regulatory Authority ("FINRA"), we changed our name from Massey Exploration Corp. to Nevada Gold Corp. and effected a forward split of our issued and outstanding shares of common stock on a 8.5 new for one (1) old basis, such that, our issued and outstanding shares of common stock increased from 6,300,000 to 53,550,000 shares of common stock, par value of $0.001. Our authorized capital remains at 75,000,000 common shares of common stock, par value of $0.001. The name change and forward split became effective with the Over-the-Counter Bulletin Board at the opening of trading on July 27, 2012. A new symbol, NVGC, was issued by FINRA. Effective August 8, 2012, Nevada Gold Corp. entered into an option agreement with Development Resources LLC, a Utah LLC ("Development Resources"), wherein we wish to acquire an interest in four sections (2,560 acres), consisting of approximately 120 BLM mineral lease claims from Development Resources for the purpose of exploration for gold, silver and other mineralization deposits (the "Property"). The Property consists of BLM mineral lease claims group for a total of 120 claims located on Sections 5, 6, 7 and 8 in Township 33N and Range 64E with Meridian MDR&M. We also have an option to acquire a similar interest in and to an additional 4 sections of 2,650 acres of approximately 120 claims held by Development Resources for a period of one year from the effective date. In order for us to exercise the option, we are required to pay $125,000 to Development Resources by July 1, 2013. We are also required to issue an aggregate of 3,000,000 restricted shares of common stock after the property payment of $125,000 is made. In addition, pursuant to terms of the option agreement, we were required to pay $47,400 to Development Resources no later than August 14, 2012 for the full county, state and BLM fees to keep the Property in good standing, for a period of one year, with all agencies by the required filing date of September 1, 2012. All the required payments were made. Upon the full payment of cash and the distribution of shares, we will acquire 51% interest free and clear in and to the Property from Development Resources. 8 The option agreement shall terminate at 12:01 pm on the 15th day following any non payment by us for the schedule of payments and/or delivery of the shares on a timely basis or any alternative payment acceptable to Development Resources has not been agreed to and paid to Development Resources by us. The description of the Property contained in this Item 1.01 is a summary and is qualified in its entirety by reference to the copy of the option agreement is attached as an exhibit to a Form 8-K as filed with the Securities and Exchange Commission on August 8, 2012. RESULTS OF OPERATIONS We are still in our exploration stage and have not generated any revenue. We incurred operating expenses of $5,853 and $3,846 for the three months ended November 30, 2012 and 2011, respectively. These expenses consisted of general operating expenses incurred in connection with the day to day operation of our business, the preparation and filing of our registration statement and periodic reports and property expenditures. We incurred operating expenses of $67,151 and $126,432 for the nine months ended November 30, 2012 and 2011, respectively. These expenses consisted of general operating expenses incurred in connection with the day to day operation of our business, the preparation and filing of our registration statement and periodic reports and property expenditures. Our net loss from inception (January 22, 2007) through November 30, 2012 was $252,516. On November 14, 2007, the Company issued a total of 1,000,000 shares of common stock to its director at the time, Michael Hawitt, for cash in the amount of $0.004 per share for a total of $4,000. On January 30, 2008, the Company issued a total of 2,000,000 shares of common stock at $0.004 per share to Mr. Hawitt in exchange for an invoice paid on behalf of the Company in the amount of $8,000. On December 16, 2008 the Company completed its "all or nothing" offering. Subscription agreements totaling 3,300,000 shares of common stock at $.02 per share, or $66,000 were received from 34 unrelated investors. The following table provides selected financial data about our company for the period ended November 30, 2012 and the year ended February 28, 2012. Balance Sheet Data: 11/30/12 2/28/12 ------------------- -------- ------- Cash $ 529 $ 365 Total assets $ 529 $ 365 Total liabilities $ 175,045 $ 107,731 Shareholders' equity $(175,045) $(107,366) GOING CONCERN Our auditors expressed their doubt about our ability to continue as a going concern unless we are able to raise additional capital beyond our exploration stage and ultimately to generate profitable operations. 9 LIQUIDITY AND CAPITAL RESOURCES Our cash in the bank at November 30, 2012 was $529 with $175,045 in outstanding liabilities. Management believes our current cash resources are not sufficient to fund operations for the next twelve months. If we experience a shortage of funds prior to funding we may utilize funds from our director, who has informally agreed to advance funds to allow us to pay for filing and professional fees, however he has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. PLAN OF OPERATION Our plan of operation for the next twelve months is to carry out exploration on the new leased property. The company has an option to acquire certain claims located the Long Canyon Gold Trend of Northern Nevada State. It is the company's intension to fulfill its option agreement with the vendor for cash and stock consideration as well as complete a phase one surface and air exploration program including soil samples, chip samples and grid work to seek drill targets and produce a geologists report for future work. The company will need to raise exploration funds to complete this work. Total expenditures over the next 12 months are currently expected to be approximately $250,000. OFF-BALANCE SHEET ARRANGEMENTS We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors. ITEM 4. CONTROLS AND PROCEDURES EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES Our management team, under the supervision and with the participation of our principal executive officer and our principal financial officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as such term is defined under Rule 13a-15(e) promulgated under the Exchange Act, as of the last day of the period covered by this report, November 30, 2012. The term disclosure controls and procedures means our controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to management, including our principal executive and principal financial officer, or persons performing 10 similar functions, as appropriate to allow timely decisions regarding required disclosure. Based on this evaluation, our principal executive officer and our principal financial officer concluded that, as of November 30, 2012, our disclosure controls and procedures were effective at a reasonable assurance level. CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING There have been no changes in our internal control over financial reporting during the period ended November 30, 2012 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 11 PART II. OTHER INFORMATION ITEM 6. EXHIBITS Incorporated by Exhibit No. Exhibit Reference or Filed Herewith ----------- ------- --------------------------- 3.1 Articles of Incorporation Incorporated by reference to the Form 8-K filed with the SEC on July 26, 2012, File No. 000-53724 3.2 Bylaws Incorporated by reference to the Form 8-K filed with the SEC on July 13, 2011, File No. 000-53724 31.1 Section 302 Certification of Chief Executive Officer Filed herewith 31.2 Section 302 Certification of Chief Financial Officer Filed herewith 32 Section 906 Certification of Chief Executive Officer and Chief Financial Officer Filed herewith 101 Interactive data files pursuant to Rule 405 of Regulation S-T. Filed herewith SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. January 14, 2013 Nevada Gold Corp. /s/ Merrill W. Moses --------------------------------------------------- By: Merrill W. Moses (Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer, President, Secretary, Treasurer & Director) /s/ Charles C. Hooper --------------------------------------------------- By: Charles C. Hoope (Director) 12 EX-31 2 ex31-1.txt EXHIBIT 31.1 CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER Pursuant to 18 U.S.C. 1350 (Section 302 of the Sarbanes-Oxley Act of 2002) I, Merrill W. Moses, certify that: 1. I have reviewed this Report on Form 10-Q of Nevada Gold Corp.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: January 14, 2013 /s/ Merrill W. Moses ----------------------------------- Merrill W. Moses Chief Executive Officer EX-31 3 ex31-2.txt EXHIBIT 31.2 CERTIFICATION OF THE CHIEF FINANCIAL OFFICER Pursuant to 18 U.S.C. 1350 (Section 302 of the Sarbanes-Oxley Act of 2002) I, Merrill W. Moses, certify that: 1. I have reviewed this Report on Form 10-Q of Nevada Gold Corp.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: January 14, 2013 /s/ Merrill W. Moses ---------------------------------- Merrill W. Moses Chief Financial Officer EX-32 4 ex32.txt EXHIBIT 32 CERTIFICATION OF CHIEF EXECTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Nevada Gold Corp. (the "Company") on Form 10-Q for the period ending November 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Merrill W. Moses, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. IN WITNESS WHEREOF, the undersigned has executed this certification as of the 14th day of January, 2013. /s/ Merrill W. Moses ----------------------------------- Merrill W. Moses Chief Executive Officer and Chief Financial Officer EX-101.INS 5 nvgc-20121130.xml 0 529 365 529 365 90854 86209 15750 16629 5771 175045 107731 175045 107731 0 0 53550 53550 24450 24450 -252516 -185366 -174516 -107366 529 365 0.001 0.001 30000000 30000000 0 0 0 0 0.001 0.001 125000000 125000000 53550000 53550000 53550000 53550000 4645 83952 90854 0 29970 0 1813 563 2563 -60693 -11947 -159099 0 0 0 50000 0 65000 10857 3771 16629 0 0 78000 60857 3771 159629 164 -8176 529 365 0 810 529 0 0 0 0 0 0 0 0 0 0 7 0 0 0 0 7 0 0 47400 0 62850 2266 2004 10120 122042 157293 2149 1655 7818 3827 29817 1438 188 1813 563 2563 5853 3846 67151 126432 252516 -5863 -3846 -67151 -126432 -252516 0 0 0 0 53550000 53550000 53550000 53550000 10-Q 2012-11-30 false Nevada Gold Corp. 0001433818 --02-29 Smaller Reporting Company Yes No No 2013 Q3 53550000 <p style='margin:0in;margin-bottom:.0001pt;'>Note 1 - Basis of Presentation</p> <p style='margin:0in;margin-bottom:.0001pt;'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;'>The accompanying unaudited interim financial statements of Nevada Gold Corp. (formerly, Massey Exploration Corp. the &#147;Company&#148;), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company&#146;s Form 10-K filed with SEC.&#160; In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein.&#160; The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.&#160; Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the Form 10-K have been omitted.</p> <p style='margin:0in;margin-bottom:.0001pt;'>Note 2 - Going Concern</p> <p style='margin:0in;margin-bottom:.0001pt;'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;'>As of November 30, 2012, the Company has not generated revenues and has accumulated losses since inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, its ability to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company&#146;s ability to continue as a going concern.</p> <p style='margin:0in;margin-bottom:.0001pt;'>Note 3 - Note Payable </p> <p style='margin:0in;margin-bottom:.0001pt;'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;'>As of August 31, 2012, the Company owes two unrelated parties a total of $67,563.&#160; The first note was for $15,000 forwarded on behalf of the Company as a retainer for legal fees.&#160; The note bears interest of 5% per annum and the term expires on February 28, 2013.&#160; The second note for $50,000 bears interest at a rate of 10% per annum and has no maturity date. </p> <p style='margin:0in;margin-bottom:.0001pt;'>Note 4 - Stock Transactions</p> <p style='margin:0in;margin-bottom:.0001pt;'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;'>On July 27, 2012 the Company effected an 8.5 for 1 forward split of its issued and outstanding share capital such that every one share of common stock issued and outstanding prior to the split was exchanged for eight and one half post-split shares of common stock. The Company&#146;s post-split authorized capital remains unchanged at 75,000,000 shares of common stock with a par value of $0.001 per share. All share amounts have been retroactively adjusted for all periods presented.</p> 67563 0001433818 2012-11-30 0001433818 2012-02-29 0001433818 2012-09-01 2012-11-30 0001433818 2011-09-01 2011-11-30 0001433818 2007-01-22 2012-11-30 0001433818 2012-03-01 2012-11-30 0001433818 2011-03-01 2011-11-30 0001433818 2007-01-21 0001433818 2011-11-30 iso4217:USD shares iso4217:USD shares EX-101.SCH 6 nvgc-20121130.xsd 000080 - Disclosure - Note 3 - Note Payable link:presentationLink link:definitionLink link:calculationLink 000040 - Statement - Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statements of Operations link:presentationLink link:definitionLink link:calculationLink 000070 - Disclosure - Note 2 - Going Concern link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Balance Sheet link:presentationLink link:definitionLink link:calculationLink 000060 - Disclosure - Note 1 - Basis of Presentation link:presentationLink link:definitionLink link:calculationLink 000100 - Disclosure - Note 3 - Note Payable (Details) link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statement of Financial Position - Parenthetical link:presentationLink link:definitionLink link:calculationLink 000010 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 000090 - Disclosure - Note 4 - Stock Transactions link:presentationLink link:definitionLink link:calculationLink 000050 - Statement - Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 7 nvgc-20121130_cal.xml EX-101.DEF 8 nvgc-20121130_def.xml EX-101.LAB 9 nvgc-20121130_lab.xml Note 3 - Note Payable Common Stock, Shares Issued Entity Current Reporting Status Loan payable - related party Net cash provided by (used in) operating activities Net cash provided by (used in) operating activities Deposit Loan Payable Statement Entity Central Index Key Net increase (decrease) in cash Cash Flows From Financing Activities Common Stock, Shares Authorized Statement of Cash Flows Stockholders' Equity Total Current Liabilities Total Current Liabilities Notes Accrued Interest Total Revenues Total Revenues Total Liabilities and Stockholders' Equity Total Liabilities and Stockholders' Equity Entity Filer Category Details General and Administrative Preferred Stock Amendment Flag Cash Flows From Investing Activities Net cash provided by (used in) investing activities Net cash provided by (used in) investing activities Net Income (Loss) Profit Sharing Preferred Stock, Par Value Total Stockholders' Equity Total Stockholders' Equity Document Fiscal Year Focus Note 1 - Basis of Presentation Revenues {1} Revenues Preferred Stock, Shares Issued Additional Paid-in Capital Common Stock Total Current Assets Total Current Assets Entity Well-known Seasoned Issuer Income Statement Entity Public Float Professional Fees Expenses Preferred Stock, Shares Authorized Current Liabilities Statement {1} Statement Cash paid during year for Income Taxes Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Cash Flows From Operating Activities Total Expenses Total Expenses Current Assets Document Fiscal Period Focus Entity Common Stock, Shares Outstanding Note 2 - Going Concern Issuance of Common Stock Weighted average number of common shares outstanding Basic earnings (loss) per share Common Stock, Shares Outstanding Entity Voluntary Filers Document and Entity Information: Cash paid during year for Interest Net cash provided by (used in) financing activities Net cash provided by (used in) financing activities Accounts Payable {2} Accounts Payable Property Expenditures Preferred Stock, Shares Outstanding Deficit accumulated during exploration stage Cash Cash at Beginning of Period Cash at End of Period Document Period End Date Entity Registrant Name Note 4 - Stock Transactions Loan payable Document Type Interest Expense Common Stock, Par Value Total Liabilities Total Liabilities Loan Payable - Related Party Accounts Payable {1} Accounts Payable Liabilities and Stockholders' Equity Current Fiscal Year End Date Supplemental Disclosures of Cash Flow Information Changes in operating assets and liabilities: Total Assets Total Assets Statement of Financial Position Balance Sheets - Parenthetical EX-101.PRE 10 nvgc-20121130_pre.xml XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; 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Note 4 - Stock Transactions
 9 Months Ended
Nov. 30, 2012
Notes  
Note 4 - Stock Transactions

Note 4 - Stock Transactions

 

On July 27, 2012 the Company effected an 8.5 for 1 forward split of its issued and outstanding share capital such that every one share of common stock issued and outstanding prior to the split was exchanged for eight and one half post-split shares of common stock. The Company’s post-split authorized capital remains unchanged at 75,000,000 shares of common stock with a par value of $0.001 per share. All share amounts have been retroactively adjusted for all periods presented.
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Note 3 - Note Payable
 9 Months Ended
Nov. 30, 2012
Notes  
Note 3 - Note Payable

Note 3 - Note Payable

 

As of August 31, 2012, the Company owes two unrelated parties a total of $67,563.  The first note was for $15,000 forwarded on behalf of the Company as a retainer for legal fees.  The note bears interest of 5% per annum and the term expires on February 28, 2013.  The second note for $50,000 bears interest at a rate of 10% per annum and has no maturity date.

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Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Balance Sheet (USD $)
Nov. 30, 2012
Feb. 29, 2012
Current Assets    
Cash $ 529 $ 365
Total Current Assets 529 365
Total Assets 529 365
Current Liabilities    
Accounts Payable 90,854 86,209
Loan Payable 67,563 15,750
Loan Payable - Related Party 16,629 5,771
Total Current Liabilities 175,045 107,731
Total Liabilities 175,045 107,731
Stockholders' Equity    
Preferred Stock 0 0
Common Stock 53,550 53,550
Additional Paid-in Capital 24,450 24,450
Deficit accumulated during exploration stage (252,516) (185,366)
Total Stockholders' Equity (174,516) (107,366)
Total Liabilities and Stockholders' Equity $ 529 $ 365
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Note 1 - Basis of Presentation
 9 Months Ended
Nov. 30, 2012
Notes  
Note 1 - Basis of Presentation

Note 1 - Basis of Presentation

 

The accompanying unaudited interim financial statements of Nevada Gold Corp. (formerly, Massey Exploration Corp. the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with SEC.  In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein.  The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the Form 10-K have been omitted.
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Note 2 - Going Concern
 9 Months Ended
Nov. 30, 2012
Notes  
Note 2 - Going Concern

Note 2 - Going Concern

 

As of November 30, 2012, the Company has not generated revenues and has accumulated losses since inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, its ability to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern.
XML 19 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statement of Financial Position - Parenthetical (USD $)
Nov. 30, 2012
Feb. 29, 2012
Preferred Stock, Par Value $ 0.001 $ 0.001
Preferred Stock, Shares Authorized 30,000,000 30,000,000
Preferred Stock, Shares Issued 0 0
Preferred Stock, Shares Outstanding 0 0
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock, Shares Authorized 125,000,000 125,000,000
Common Stock, Shares Issued 53,550,000 53,550,000
Common Stock, Shares Outstanding 53,550,000 53,550,000
XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information (USD $)
 9 Months Ended
Nov. 30, 2012
Document and Entity Information:  
Entity Registrant Name Nevada Gold Corp.
Document Type 10-Q
Document Period End Date Nov. 30, 2012
Amendment Flag false
Entity Central Index Key 0001433818
Current Fiscal Year End Date --02-29
Entity Common Stock, Shares Outstanding 53,550,000
Entity Public Float $ 0
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2013
Document Fiscal Period Focus Q3
XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statements of Operations (USD $)
 3 Months Ended 9 Months Ended 70 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Revenues          
Profit Sharing $ 0 $ 0 $ 0 $ 0 $ 7
Total Revenues 0 0 0 0 7
Property Expenditures 0 0 47,400 0 62,850
Professional Fees 2,266 2,004 10,120 122,042 157,293
General and Administrative 2,149 1,655 7,818 3,827 29,817
Interest Expense 1,438 188 1,813 563 2,563
Total Expenses 5,853 3,846 67,151 126,432 252,516
Net Income (Loss) $ (5,863) $ (3,846) $ (67,151) $ (126,432) $ (252,516)
Basic earnings (loss) per share 0 0 0 0  
Weighted average number of common shares outstanding 53,550,000 53,550,000 53,550,000 53,550,000  
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Nevada Gold Corp. (FORMERLY MASSEY EXPLORATION CORP.) - (An Exploration Stage Company) - Statements of Cash Flows (USD $)
 9 Months Ended 70 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Cash Flows From Operating Activities      
Net Income (Loss) $ (67,151) $ (126,432) $ (252,516)
Changes in operating assets and liabilities:      
Accounts Payable 4,645 83,952 90,854
Deposit 0 29,970 0
Accrued Interest 1,813 563 2,563
Net cash provided by (used in) operating activities (60,693) (11,947) (159,099)
Cash Flows From Investing Activities      
Net cash provided by (used in) investing activities 0 0 0
Cash Flows From Financing Activities      
Loan payable 50,000 0 65,000
Loan payable - related party 10,857 3,771 16,629
Issuance of Common Stock 0 0 78,000
Net cash provided by (used in) financing activities 60,857 3,771 159,629
Net increase (decrease) in cash 164 (8,176) 529
Cash at Beginning of Period 365   0
Cash at End of Period 529 810 529
Supplemental Disclosures of Cash Flow Information      
Cash paid during year for Interest 0 0 0
Cash paid during year for Income Taxes $ 0 $ 0 $ 0

XML 24 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 3 - Note Payable (Details) (USD $)
Nov. 30, 2012
Feb. 29, 2012
Loan Payable $ 67,563 $ 15,750
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