GOLDRICH MINING CO

CIK:0000059860|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating expenses:
Mine preparation costs	$ 2,114	$ 11,216	$ 7,501	$ 25,443
Management fees and salaries	49,150	46,388	147,050	143,813
Professional services	14,074	244	69,884	61,185
General and administration	49,580	48,090	146,033	152,186
Office supplies and other	1,463	5,992	4,513	21,891
Directors’ fees	3,100	2,500	8,800	6,100
Mineral property maintenance	31,486	31,942	94,459	94,915
Arbitration and settlement costs (Note 3)	1,440	2,143	24,758	19,221
Total operating expenses	152,407	148,515	502,998	524,754
Other (income) expense:
Miscellaneous income			(5,787)
Change in fair value of notes payable in gold	(11,138)	(38,751)	15,514	(35,777)
Interest expense and finance costs – related party	158,435	155,627	474,363	462,814
Interest expense and finance costs	69,689	63,059	194,972	198,838
Total other (income) expense	216,986	179,935	679,062	625,875
Net loss	369,393	328,450	1,182,060	1,150,629
Preferred dividends	1,917	1,917	5,688	5,688
Net loss available to common stockholders	$ 371,310	$ 330,367	$ 1,187,748	$ 1,156,317
Net loss per common share - basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average common shares outstanding – basic and diluted	195,689,958	177,479,791	191,227,818	183,667,400

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (1,182,060)	$ (1,150,629)
Adjustments to reconcile net loss to net cash used in operating activities:
Finance costs	8,027	4,420
Change in fair value of notes payable in gold	15,514	(35,777)
Accretion of asset retirement obligation	5,262	5,060
Change in:
Prepaid expenses	94,808	65,371
Accounts payable and accrued liabilities	(57,554)	63,815
Interest payable	181,242	174,557
Convertible interest payable – related party	474,363	462,814
Related party payable	166,868	161,658
Net cash used - operating activities	(293,530)	(248,711)
Cash flows from financing activities:
Proceeds from warrant exercises, net	162,667	133,157
Proceeds from convertible notes payable, net	100,000
Proceeds from notes payable	25,000
Proceeds on subscription payable		30,000
Proceeds from notes payable– related party, net	27,500	83,980
Net cash provided - financing activities	315,167	247,137
Net increase (decrease) in cash and cash equivalents	21,637	(1,574)
Cash and cash equivalents, beginning of period	3,969	3,762
Cash and cash equivalents, end of period	25,606	2,188
Non-cash Investing and Financing Activities:
Common shares issued for subscription payable	70,000
Common shares issued for conversion of Series D preferred stock		$ 200,000

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 25,606	$ 3,969
Prepaid expenses	11,719	106,527
Total current assets	37,325	110,496
Mineral interests	626,428	626,428
Investment in CGL LLC	25,000	25,000
Total assets	688,753	761,924
Current liabilities:
Accounts payable and accrued liabilities	1,477,309	1,534,863
Interest payable	901,353	720,111
Convertible interest payable – related party	2,625,829	2,151,466
Related party payable	1,431,084	1,264,216
Convertible notes payable	105,263
Notes payable	1,276,485	1,250,169
Notes payable – related party	4,224,927	4,195,979
Notes payable in gold	499,028	483,514
Dividends payable on preferred stock	30,618	30,618
Total current liabilities	12,571,896	11,630,936
Long-term liabilities:
Subscription payable		70,000
Remediation and asset retirement obligation	280,686	275,424
Total long-term liabilities	280,686	345,424
Total liabilities	12,852,582	11,976,360
Commitments and contingencies (Notes 8)
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference
Common stock; $0.10 par value, 750,000,000 shares authorized; 196,559,523 and 185,448,412 issued and outstanding, respectively	19,655,952	18,544,841
Additional paid-in capital	9,569,208	10,447,652
Accumulated deficit	(41,660,164)	(40,478,104)
Total stockholders’ deficit	(12,163,829)	(11,214,436)
Total liabilities and stockholders’ deficit	688,753	761,924
Series A Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference	150,000	150,000
Series B Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference	57,758	57,758
Series C Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference	52,588	52,588
Series D Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference
Series E Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference	10,829	10,829
Series F Preferred Stock [Member]
Stockholders’ deficit:
Convertible preferred stock series F; no par value, 300 shares authorized, 153 shares issued and outstanding, $50,000 liquidation preference