Pacific Wildcat Resources Corp. [NEX: PAW.H] has filed an audited set of financial statements for the second quarter of fiscal year 2007, ended June 30th [PDF file]. Cash decreased to $156,371 from $232,663 as of December 31, 2007. Working capital decreased from $225,766 to $147,930; book value decreased from 1.50 cents/share to 0.970 cents/share.
Net loss in 2Q '07 increased to $108,095, or 0.709 cents/share, from $70,899 or 0.472 cents/share in 2Q '06. The increase was almost entirely due to $30,260 in stock-based compensation, as the increases in other expense items were almost cancelled out by decreases in others. The decrease in cash was almost entirely due to the cash part of the loss in 2Q '07; there were no financing or investment activities during that quarter. The only resource assets the company has, according to note 3 of the financial statements, is a property in Indonesia that has been written down to $1. It also has a total of $1,357,768 in tax-loss carry-forwards, $1,121,418 of it in resource expenditures, according to Note 4.
The accompanying M D & A [PDF file] is in part devoted to the risk factors of the business that Pacific Wildcat is in, resource exploration and mining. PAW.H is currrently halted from trading; it last closed at 21 cents/share on September 27th.
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