In financial accounting, a balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.

MEC Resources Limited Balance Sheet Statement - Assets

As of 30 Jun 2024, The total current assets of MEC Resources Limited (ASX:MMR) was around $223,753 which consisted of $221,359 of Cash, no Inventory and no Net receivables. Current assets represent all the assets of a company that are expected to be conveniently sold, consumed, used, or exhausted through standard business operations within one year.

All amounts in AUD

Cash
$221,359
Current assets
$223,753
Total assets
$8,225,263

The latest balance sheet of MEC Resources Limited also showed no Property Plant Equipment and no Good will. Also there were no Intangible assets and no Other assets. The total assets including current and Intangibles/Deferred Long Term Asset Charges were $8,225,263.

MEC Resources Limited Balance Sheet Statement - Liabilities

MMR's latest annual results shows the balance sheet has $643,489 of Accounts Payable. Also there were $498,839 of Short/Long term debt, no Long term debt, no Other Current liabilities and $1,142,328 of Total Current Liabilities. Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle.

Account payable
$643,489
Current liabilities
$1,142,328
Total liabilities
$1,142,328

As per the 30 Jun 2024's annual report of MEC Resources Limited, the total liabilities were $1,142,328.

MMR Balance Sheet Statement - Stock Holder Equity

Stockholders' equity, also referred to as shareholders' equity, is the remaining amount of assets available to shareholders after all liabilities have been paid. It is calculated either as a firm's total assets less its total liabilities or alternatively as the sum of share capital and retained earnings less treasury shares. Stockholders' equity might include common stock, paid-in capital, retained earnings and treasury stock.

The latest Balance sheet of MEC Resources Limited showed the total stock holder equity was $7,082,935 which consisted of $32,208,956 of Common stocks, $-25,568,295 of Retained earnings and no Other stock holder equity.

MMR Balance Sheet Statement History

Following table shows the history of balance sheet for MEC Resources Limited (MMR).

30 Jun 2024 30 Jun 2023 30 Jun 2022 30 Jun 2021
Cash 221,359 26,437 945,521 130,517
Net Receivables - 412,988 625,598 -
Inventory - - - -
Total Current Assets 223,753 2,026,128 3,047,467 132,681
Property Plant Equipment - 16,486,098 17,495,977 -10,659
Good Will - - - -
Intangible Assets - - - -
Other Assets - - - -
Deferred Long Term Asset Charges - - - -
Total Assets 8,225,263 18,898,349 20,593,444 13,155,913
Accounts Payable 643,489 170,280 181,287 676,909
Short/Long Term Debt 498,839 7,240,363 8,299,963 872,741
Other Current Liabilities - - - -
Long Term Debt - 6,160,121 8,298,723 -
Other Liabilities - - - -
Total Current Liabilities 1,142,328 1,300,805 563,721 1,949,809
Total Liabilities 1,142,328 8,506,844 9,789,611 1,949,809
Common Stock 32,208,956 45,494,736 45,423,803 30,644,378
Retained Earnings -25,568,295 -36,133,291 -35,652,849 -23,628,883
Treasury Stock - - - -
Other Stockholder Equity - - - -
Total Stockholder Equity 7,082,935 10,391,788 10,803,833 7,457,769
Net Tangible Assets 7,082,935 10,391,788 10,803,833 7,457,769

MEC Resources Limited (ASX:MMR) Balance Sheet Statement FAQ

1. How much Cash MEC Resources Limited has on their balance sheet?

As of 30 Jun 2024, MEC Resources Limited (ASX:MMR) has $221,359 of Cash.

2. What's the long term debt of MEC Resources Limited?

As per the latest Balance sheet of MEC Resources Limited (ASX:MMR), it has no Long term debt.

3. How much share holder equity does MEC Resources Limited has?

The MEC Resources Limited (ASX:MMR)'s balance sheet shows that it has $7,082,935 of Total stock holder equity.