10-Q: Brightrock Gold Corporation Reports Financial Results for Q3 2004

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

Summary

• Brightrock Gold Corporation, formerly Go Call, Inc., filed its 10-Q report for the quarter ended September 30, 2004.
• The company had no revenue for the three and nine months ended September 30, 2004 and 2003.
• The net loss for the three months ended September 30, 2004, was $0, the same as the three months ended September 30, 2003.
• The company is considered a development stage company with no revenues, no assets, and no specific business plan or purpose.
• There is substantial doubt regarding the company's ability to continue as a going concern.
• As of September 30, 2004, the company had shareholders equity of $0.
• As of September 30, 2004, there were 28,679,120 shares of common stock outstanding.
• The company's disclosure controls and procedures were not effective as of September 30, 2004, due to the size and limited resources of the company.

Sentiment

Score: 2

Explanation: The sentiment is very negative due to the lack of revenue, net loss, going concern warning, and ineffective disclosure controls.

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.
• There is substantial doubt about the company's ability to continue as a going concern.
• The company's disclosure controls and procedures are not effective.
• The company is a shell company with no or nominal operations and assets.

Risks

• Inadequate capital and barriers to raising additional capital.
• Failure to earn revenues or profits.
• Volatility or decline of the company's stock price.
• Potential fluctuation in quarterly results.
• Rapid and significant changes in markets.
• Litigation with or legal claims and allegations by outside parties.
• Insufficient revenues to cover operating costs.

Future Outlook

The company's future success and viability are dependent upon its ability to generate capital financing and implement its plan of operation to generate sales.

Management Comments

• Management plans to obtain funding from new investors to alleviate the working capital deficiency.
• Management plans to implement a plan of operation to generate sales.

Industry Context

As a blank check company and a shell company, Brightrock Gold faces significant regulatory hurdles and limitations on its ability to raise capital and operate effectively.

Comparison to Industry Standards

• Given the lack of revenue and the 'going concern' warning, Brightrock Gold's performance is significantly below industry standards for operating companies.
• Without a specific business plan or operations, it's difficult to compare Brightrock Gold to specific competitors, but its financial state is indicative of a company facing severe challenges.

Stakeholder Impact

• Shareholders face significant risk due to the company's financial instability.
• The company's ability to continue operations is uncertain, potentially impacting employees and other stakeholders.

Next Steps

• Obtaining funding from new investors to alleviate the working capital deficiency.
• Implementing the plan of operation to generate sales.

Key Dates

Keywords

financial statements, quarterly report, going concern, net loss, revenue, Brightrock Gold Corporation, Form 10-Q