10-Q: Brightrock Gold Corporation (Formerly Go Call, Inc.) Reports Financial Results for Quarter Ended June 30, 2004

Brightrock Gold Corporation, formerly Go Call, Inc., files its quarterly report on Form 10-Q for the period ended June 30, 2004, revealing no revenue and a net loss.

Summary

• Brightrock Gold Corporation, formerly Go Call, Inc., filed its quarterly report on Form 10-Q for the period ended June 30, 2004.
• The company had no revenue for the three and six months ended June 30, 2004 and 2003.
• The company incurred a net loss of $0 for the three months ended June 30, 2004, and for the six months ended June 30, 2004.
• As of June 30, 2004, the company had shareholders equity of $0.
• There is substantial doubt regarding the company's ability to continue as a going concern.
• The company's business plan is to seek new business opportunities or engage in a merger or acquisition with an unidentified company.
• The company is considered a blank check company and a shell company.
• As of June 30, 2004, there were 28,679,120 shares of common stock outstanding.
• The company's disclosure controls and procedures were not effective as of June 30, 2004, due to limited resources and lack of appropriate accounting personnel and an independent audit committee.

Sentiment

Score: 2

Explanation: The sentiment is very negative due to the lack of revenue, net losses, negative equity, and going concern issues. The company's future is highly uncertain.

Positives

• New management filed a Certificate of Revival with the State of Delaware to bring the Company into Good Standing on May 31, 2004.

Negatives

• The company has no revenue.
• The company has a net loss of $0 for the three months ended June 30, 2004.
• The company has $0 in shareholders equity as of June 30, 2004.
• There is substantial doubt about the company's ability to continue as a going concern.
• The company's disclosure controls and procedures were not effective as of June 30, 2004.

Risks

• The company's ability to continue as a going concern is uncertain.
• The company's business plan is to seek new business opportunities or engage in a merger or acquisition with an unidentified company, which carries inherent risks.
• The company is subject to penny stock rules, which require broker-dealers to provide risk disclosure documents.
• The company's disclosure controls and procedures were not effective as of June 30, 2004.
• The company may face difficulties in raising additional capital.

Future Outlook

The company's business plan is to seek new business opportunities or to engage in a merger or acquisition with an unidentified company.

Management Comments

• Management plans to obtain funding from new investors to alleviate the working capital deficiency and implement a plan of operation to generate sales.
• Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute assurance of achieving the desired objectives.

Industry Context

As a blank check and shell company, Brightrock Gold's activities are highly speculative and dependent on finding a suitable business opportunity or merger partner, which is a common but risky strategy in the microcap market.

Comparison to Industry Standards

• Given the lack of revenue and negative equity, Brightrock Gold's financial performance is significantly below industry standards for operating companies.
• Comparable companies would typically have ongoing operations and revenue generation, which Brightrock currently lacks.

Stakeholder Impact

• Shareholders face significant risk due to the company's financial condition and uncertain future.
• The company's ability to continue operations and generate value for stakeholders is highly dependent on its ability to raise capital and find a suitable business opportunity.

Next Steps

• The company plans to seek new business opportunities or engage in a merger or acquisition.
• The company plans to obtain funding from new investors to alleviate its working capital deficiency.
• The company plans to implement its plan of operation to generate sales.

Key Dates

Keywords

financial statements, going concern, shell company, blank check company, quarterly report, net loss, revenue, Brightrock Gold Corporation