Lode-Star Mining (LSMG) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 07, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-53676
Entity Registrant Name	LODE-STAR MINING INC.
Entity Central Index Key	0001319643
Entity Tax Identification Number	47-4347638
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1 East Liberty Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89501
City Area Code	(775)
Local Phone Number	234-5443
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		120,937,442

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash	$ 3,908	$ 2,474
Total current assets and total assets	3,908	2,474
Total Assets	3,908	2,474
Current liabilities
Accrued liabilities	466	14,689
Due to related parties	115,459	77,235
Total current liabilities and total liabilities	115,925	91,924
Total liabilities	115,925	91,924
STOCKHOLDERS’ DEFICIENCY
Capital Stock Authorized: 480,000,000 voting common shares with a par value of $0.001 per share 20,000,000 preferred shares with a par value of $0.001 per share Issued: 120,937,442 common shares and no preferred shares at June 30, 2024 120,937,442 common shares and no preferred shares at December 31, 2023	73,757	73,757
Additional Paid-In Capital	4,163,056	4,163,056
Accumulated Deficit	(4,348,830)	(4,326,263)
Total stockholders’ deficiency	(112,017)	(89,450)
Total liabilities and stockholders’ deficiency	$ 3,908	$ 2,474

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	480,000,000	480,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	120,937,442	120,937,442
Preferred Stock, Shares Issued	0	0

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue
Operating Expenses
Consulting services	926		926
Corporate support services	1,602	466	2,068	910
Office, foreign exchange and sundry	647	948	(2,812)	1,716
Professional Fees	8,907	21,929	17,656	22,385
Transfer and filing fees	1,611	2,104	4,729	6,592
Total operating expenses	13,693	25,448	22,567	31,603
Net Loss and Comprehensive Loss For The Period	$ (13,693)	$ (25,448)	$ (22,567)	$ (31,603)
Basic And Diluted Net Income (Loss) Per Common Share	$ 0	$ 0	$ 0	$ 0
Weighted Average Number of Common Shares Outstanding – Basic and Diluted	120,937,442	120,937,442	120,937,442	120,937,442

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net loss for the period	$ (22,567)	$ (31,603)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	(14,223)	(6,623)
Net cash used in operating activities	(36,790)	(38,226)
Financing Activity
Proceeds from loans payable – related party	38,224	37,851
Net cash provided by financing activities	38,224	37,851
Net Increase (Decrease) In Cash	1,434	(375)
Cash, Beginning of Period	2,474	886
Cash, End of Period	$ 3,908	$ 511

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIENCY - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance, January 1, 2024	$ (98,324)	$ (89,450)	$ (32,665)	$ (26,510)	$ (89,450)	$ (26,510)
Net loss for the period	(13,693)	(8,874)	(25,448)	(6,155)	(22,567)	(31,603)
Balance, June 30, 2024	(112,017)	(98,324)	(58,113)	(32,665)	(112,017)	(58,113)
Common Stock [Member]
Balance, January 1, 2024	$ 73,757	$ 73,757	$ 73,757	$ 73,757	$ 73,757	$ 73,757
Ending Balance, Shares	120,937,442	120,937,442	120,937,442	120,937,442	120,937,442	120,937,442
Net loss for the period
Balance, June 30, 2024	$ 73,757	$ 73,757	$ 73,757	$ 73,757	$ 73,757	$ 73,757
Ending Balance, Shares	120,937,442	120,937,442	120,937,442	120,937,442	120,937,442	120,937,442
Additional Paid-in Capital [Member]
Balance, January 1, 2024	$ 4,163,056	$ 4,163,056	$ 4,163,056	$ 4,163,056	$ 4,163,056	$ 4,163,056
Net loss for the period
Balance, June 30, 2024	4,163,056	4,163,056	4,163,056	4,163,056	4,163,056	4,163,056
Retained Earnings [Member]
Balance, January 1, 2024	(4,335,137)	(4,326,263)	(4,269,478)	(4,263,323)	(4,326,263)	(4,263,323)
Net loss for the period	(13,693)	(8,874)	(25,448)	(6,155)
Balance, June 30, 2024	$ (4,348,830)	$ (4,335,137)	$ (4,294,926)	$ (4,269,478)	$ (4,348,830)	$ (4,294,926)

BASIS OF PRESENTATION AND NATUR

BASIS OF PRESENTATION AND NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND NATURE OF OPERATIONS	1. BASIS OF PRESENTATION AND NATURE OF OPERATIONS Lode-Star Mining Inc. (“the Company”) was incorporated in the State of Nevada, U.S.A., on December 9, 2004. The Company’s principal executive offices are in Reno, Nevada. The Company was originally formed to acquire exploration stage natural resource properties. At present, the Company has no business activity and is actively seeking a project to invest in . Going Concern The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. The future of the Company is dependent upon its ability to establish a business and to obtain new financing to execute its business plan. As shown in the accompanying financial statements, the Company has had no revenue and has incurred accumulated losses of $ 4,348,830 Basis of Presentation The unaudited interim financial information reflects all adjustments which, in the opinion of management, are necessary to fairly state the Company’s financial position and the results of its operations for the periods presented. These unaudited interim financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Annual report on Form 10-K for the year ended December 31, 2023. The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the year ended December 31, 2023, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. Accordingly, certain footnote disclosures, which would substantially duplicate the disclosures contained in the Company’s financial statements for the fiscal year ended December 31, 2023, have been omitted. The results of operations for the six months ended June 30, 2024, are not necessarily indicative of results for the entire year ending December 31, 2024.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) with accounting policies as disclosed in the Company’s annual audited financial statements. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates which have been made using careful judgment. All dollar amounts are in U.S. dollars unless otherwise noted. The financial statements have, in management’s opinion, been properly prepared within reasonable limits of materiality. The Company has implemented all applicable new accounting pronouncements that are in effect. Those pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

TRANSACTIONS WITH LODE-STAR GOL

TRANSACTIONS WITH LODE-STAR GOLD INC. (“LSG”)	6 Months Ended
	Jun. 30, 2024
Extractive Industries [Abstract]
TRANSACTIONS WITH LODE-STAR GOLD INC. (“LSG”)	3. TRANSACTIONS WITH LODE-STAR GOLD INC. (“LSG”) The Company’s mineral property interest was in a group of thirty-one claims known as the “Goldfield Bonanza Project” (the “Property”), in the State of Nevada. Pursuant to an option agreement dated October 14, 2014, as amended October 31, 2019 (“Option Agreement”), with LSG, the Company acquired an initial 20% undivided interest in and to the mineral claims owned by LSG and an option to earn a further 60% interest in the claims. LSG received 35,000,000 shares of the Company’s common stock and is its controlling shareholder.

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
CAPITAL STOCK	4. CAPITAL STOCK Capitalization The authorized capital of the Company is 500,000,000 shares of capital stock, divided into 480,000,000 0.001 20,000,000 0.001 120,937,442 Options No options are outstanding at June 30, 2024, and December 31, 2023.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND AMOUNTS DUE	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND AMOUNTS DUE	5. RELATED PARTY TRANSACTIONS AND AMOUNTS DUE In addition to transactions with related parties discussed elsewhere in these financial statements, the following transactions occurred with related parties. At June 30, 2024, the Company had amounts due to related parties of $ 115,459

BASIS OF PRESENTATION AND NAT_2

BASIS OF PRESENTATION AND NATURE OF OPERATIONS (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Going Concern	Going Concern The accompanying unaudited interim financial statements have been prepared assuming the Company will continue as a going concern. The future of the Company is dependent upon its ability to establish a business and to obtain new financing to execute its business plan. As shown in the accompanying financial statements, the Company has had no revenue and has incurred accumulated losses of $ 4,348,830
Basis of Presentation	Basis of Presentation The unaudited interim financial information reflects all adjustments which, in the opinion of management, are necessary to fairly state the Company’s financial position and the results of its operations for the periods presented. These unaudited interim financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Annual report on Form 10-K for the year ended December 31, 2023. The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the year ended December 31, 2023, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. Accordingly, certain footnote disclosures, which would substantially duplicate the disclosures contained in the Company’s financial statements for the fiscal year ended December 31, 2023, have been omitted. The results of operations for the six months ended June 30, 2024, are not necessarily indicative of results for the entire year ending December 31, 2024.

BASIS OF PRESENTATION AND NAT_3

BASIS OF PRESENTATION AND NATURE OF OPERATIONS (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Retained Earnings (Accumulated Deficit)	$ 4,348,830	$ 4,326,263

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Common Stock, Shares Authorized	480,000,000	480,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	120,937,442	120,937,442

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND AMOUNTS DUE (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Related Party Transactions [Abstract]
Due to related parties	$ 115,459	$ 77,235