AMERICAN BATTERY TECHNOLOGY Co quarterly report, Q1 FY2015

Filing identity and reporting period

Important identity discrepancy: The request identifies American Battery Technology Co., but the filing is for Oroplata Resources, Inc., an exploration-stage mineral company. This summary reflects the filing, not the company named in the request. The unaudited quarter ended December 31, 2014 (Oroplata’s fiscal first quarter of 2015); the filing was signed February 20, 2015.

Financial results and position

At December 31, 2014, total assets were $12,410, all cash. Current liabilities were $77,379, comprising $16,254 accounts payable and $61,125 due to related parties. The related-party advances are non-interest-bearing and payable on demand. There was no reported interest-bearing debt. Stockholders’ deficit was $64,969; accumulated deficit since inception was $144,969. Working capital was negative $64,969.

Material changes, outlook, and risks

• Quarterly net loss narrowed by $11,260 year over year, mainly as general and administrative expense fell. Operating cash use nevertheless increased by $4,234, while financing provided only $114, versus $15,074 in the prior-year quarter. Cash declined $9,838 during the quarter.
• The Dominican Republic cancelled the Company’s interest in its Leomary Gold Claim in September 2014. Oroplata reported having paid $5,000 toward identifying a replacement claim and expected roughly $10,000 for claim identification and a geological report; the new claim had not been identified at the filing date. The Company had no current mineral claim and no revenue-producing operations.
• Management estimated $36,840 in cash needs for the next 12 months, including $10,000 for claim identification and a geological report. After available cash of $12,410, the stated funding shortfall was $24,430. The Company said it lacked funds for meaningful exploration and described possible financing through director advances, personally guaranteed borrowing, or a private placement; none had been pursued at that time.
• The filing states that accumulated losses, negative working capital, lack of revenue, and expected further losses raise substantial doubt about the Company’s ability to continue as a going concern. Management expected continued losses and said financing was necessary; there was no assurance funding would be available on acceptable terms.
• The filing marks the Company as a shell company. It also reports that disclosure controls and procedures were ineffective at December 31, 2014 because of material weaknesses in internal control over financial reporting. Management nevertheless stated that the financial statements fairly presented the Company’s position and results in all material respects.
• Management disclosed no legal proceedings, off-balance-sheet arrangements, or material market-risk disclosures. No dividends were planned. The Company’s shares were not quoted on a public market, and a future OTC quotation was uncertain. Risks include financing shortfalls, speculative exploration, loss of the entire investment, illiquidity, possible dilution, and dependence on the sole officer and director.

Important facts for investors to verify

1. Confirm the issuer: this is an Oroplata Resources, Inc. filing, not an American Battery Technology Co. filing.
2. Verify the status, rights, cost, and timing of any replacement mineral claim and reconcile the filing’s varying descriptions of expected claim-related costs.
3. Confirm available financing and the status of the stated $24,430 cash shortfall, as well as the demand terms and related-party balance.
4. Review the going-concern disclosure, ineffective controls, and shell-company status, and assess their implications for reporting reliability and trading eligibility.
5. Check filing completeness: the subsequent-events note contains an unresolved “xxxx, 2015” date, and the filing’s subsequent-event evaluation period is stated unclearly.