Northern Minerals Exploration Ltd (NMEX) reported a challenging QQ3 2024 with a net loss of $39,154 and an EBITDA of $(36,280). Operating income was $(36,284) and earnings per share were $(0.0004). Revenue was not disclosed in the filing, limiting top-line assessment. Cash flow from operations registered a burn of $(38,397), while cash at period-end stood at $41,942. The company raised liquidity by issuing 70,000 common shares, generating $70,000 from financing activities, resulting in a net cash increase of $31,603 for the quarter. The balance sheet displays a highly leveraged and fragile structure: total assets of $41,942 versus total liabilities of $275,053 and negative stockholders’ equity of $(233,111). Short-term and long-term debt total $(171,000), with net debt of $(129,058). The current ratio sits at a precarious 0.221, signaling limited near-term liquidity.