UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
x

☒     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended May 31, 2012

oFebruary 28, 2021

or

☐      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________ to ________

COMMISSION FILE NUMBER: __________

Commission file number: 000-53556

YATERRA VENTURES CORP.

MINING GLOBAL, INC.

(Exact nameName of registrantRegistrant as specifiedSpecified in its charter)


Its Charter)

NEVADANevada75-324957174-3249571
(State or other jurisdictionOther Jurisdiction of incorporation
Incorporation or organization)Organization		(I.R.S. Employer
Identification No.)

224 Datura St.,Suite 1015
West Palm Beach FL

33401
Address of Principal Executive Offices 
1120 Slide Road No. 30
Lubbock, TX79416
(Address of principal executive offices)(Zip Code)Code
(214) 736-3321
(Registrant's

Registrant’s telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
code   (561) 259-3009

Securities registered pursuant to Section 12(b) of the Act:

Title of each ClassTrading SymbolName of each exchange on which registered
N/AN/AN/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

xYes o☐   No
☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

xYes o☐      No
☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”filer,” “smaller reporting company,” and “smaller reporting“emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer o
☐
Accelerated filer o
☐
Non-accelerated filer o (Do not check if a smaller reporting company)
☐
Smaller reporting companyx
☒
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes o☐ Nox
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:
☒

As of August 13, 2012,September 27, 2021, the Registrant had 14,130,0007,225,161,617 shares of common stock outstanding.


PART I - FINANCIAL INFORMATION
ITEM 1.               FINANCIAL STATEMENTS.
The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three and nine months ended May 31, 2012 are not necessarily indicative of the results that can be expected for the year ending August 31, 2012.
As used in this Quarterly Report, the terms "we,” "us,” "our,” “Yaterra” and the “Company” mean Yaterra Ventures Corp. unless otherwise indicated. All dollar amounts in this Quarterly Report are in U.S. dollars unless otherwise stated.
1
outstanding.

YATERRA VENTURES CORP.
(An Exploration Stage Company)
CONSOLIDATED BALANCE SHEETS
(Unaudited)

  MAY 31,  AUGUST 31, 
  2012  2011 
       
ASSETS      
Current Assets:      
Cash $126  $- 
Deposits  25,000   360 
Total Current Assets  25,126   360 
         
Mineral property acquisition costs  22,000   22,000 
         
Total Assets $47,126  $22,360 
         
LIABILITIES AND STOCKHOLDERS’ DEFICIT        
Current Liabilities:        
Accounts payable and accrued liabilities  189,484   161,241 
Amounts payable to related parties  72,250   47,033 
Accrued interest  60,497   36,207 
Accrued interest on related party notes  1,488   107 
Short-term debt  925,041   231,293 
Short-term debt to related party  27,024   9,486 
Convertible notes  13,334   - 
Derivative liabilities  59,962   - 
Total Current Liabilities  1,349,080   485,367 
         
Stockholders’ Deficit:        
Preferred stock, $0.001 par value, 100,000,000 shares authorized, none issued and outstanding  -   - 
Common stock, $0.001 par value, 100,000,000 shares authorized, 14,130,000 and 1,630,000 shares
  issued and outstanding
  14,130   1,630 
Additional paid-in capital  (496,186)  189,370 
Deficit accumulated during the exploration stage  (819,898)  (654,007)
Total Stockholders’ Deficit  (1,301,954)  (463,007)
         
Total Liabilities and Stockholders’ Deficit $47,126  $22,360 
The accompanying notes are an integral part of these unaudited consolidated financial statements.

2
YATERRA VENTURES CORP.
(An Exploration Stage Company)
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

                
              NOVEMBER 20, 
        2006 
  THREE  NINE  (INCEPTION) 
  MONTHS ENDED  MONTHS ENDED  THROUGH 
  MAY 31,  MAY 31,  MAY 31 
  2012  2011  2012  2011  2012 
                
Operating Expenses               
Selling, general, and administrative $(6,159) $7,345  $9,472  $23,680  $112,084 
Mineral property costs  -   -   2,984   1,756   55,924 
Professional fees  19,612   9,849   65,169   43,143   325,317 
Management compensation  27,699   12,000   52,699   36,000   248,199 
Total Operating Expenses  41,152   29,194   130,324   104,579   741,524 
                     
Other Income (Expenses)                    
Gain on change in fair value of derivatives  3,327   -   3.327   -   3,327 
Interest expense  (22,250)  (6,363)  (38,895)  (16,365)  (81,701)
Total Other Expenses  (18,923)  (6,363)  (35,568)  (16,365)  (78,374)
                     
Net Loss $(60,075) $(35,557) $(165,892) $(120,944) $(819,898)
                     
Net Loss Per Share – Basic and Diluted $(0.02) $(0.02) $(0.08) $(0.07)    
                     
Weighted Average Number of Common Shares Outstanding – Basic and Diluted  2,988,696   1,630,000   2,086,204   1,630,000     
The accompanying notes are an integral part of these unaudited consolidated financial statements.

3
YATERRA VENTURES CORP.
(An Exploration Stage Company)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

          
        NOVEMBER 20, 
     2006 
  NINE  (INCEPTION) 
  MONTHS ENDED  THROUGH 
  MAY 31,  MAY 31, 
  2012  2011  2012 
          
Cash Flows from Operating Activities         
Net loss $(165,892) $(120,944) $(819,898)
Adjustments to reconcile net loss to net cash used in operating activities:            
Depreciation  -   98   1,184 
Amortization of debt discounts  8,623   -   8,623 
Gain on change in fair value of derivatives  (3,327)  -   (3,327)
Stock-based compensation  7,699   -   7,699 
Write-off of mineral property acquisition costs  -   -   3,369 
Changes in operating assets and liabilities:            
Accounts payable and accrued liabilities  42,684   36,324   240,238 
Amounts payable to related parties  26,635   12,250   73,668 
Prepaid expenses  360   (2,500)  - 
Net cash used in operating activities  (83,218)  (74,772)  (488,444)
             
Cash Flows from Investing Activities            
Mineral property acquisition costs  -   (493)  (25,369)
Computer equipment  -   -   (1,184)
Net cash used in investing activities  -   (493)  (26,553)
             
Cash Flows from Financing Activities            
Issue of common stock for cash  -   -   191,000 
Proceeds from debt  71,715   75,051   305,605 
Repayment of  debt  (76,310)  (2,597)  (78,907)
Proceeds from related party debt  26,317   -   35,803 
Repayment of related party debt  (6,378)  -   (6,378)
Proceeds from convertible notes  68,000   -   68,000 
Net cash provided by financing activities  83,344   72,454   515,123 
             
Net Increase (Decrease) In Cash  126   (2,811)  126 
Cash at the beginning of the period  -   51   - 
Cash at the end of the period $126  $(2,760) $126 
             
Supplemental Disclosures of Cash Flow Information            
Cash paid during the period for:            
Interest $-  $-  $- 
Income taxes  -   -   - 
             
Non-Cash Investing and Financing Activities            
Common shares issued for the acquisition of Pure Spectrum Oil, Inc. $680,755  $-  $680,755 
Debt discounts due to beneficial conversion features  63,289   -   63,289 
             
The accompanying notes are an integral part of these unaudited consolidated financial statements.

4
YATERRA VENTURES CORP.
(An Exploration Stage Company)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

NOTE 1. BASIS OF PRESENTATION AND NATURE OF OPERATIONS

The unaudited financial information furnished herein 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 consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto included for the fiscal year ended August 31, 2011. The Company assumes that the readers of these interim financial statements herein have read, or have access to, the audited financial statements for the preceding fiscal year, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. Accordingly, footnote disclosure, which would substantially duplicate the disclosure contained in the Company’s financial statements for the fiscal year ended August 31, 2011, has been omitted. The results of operations for the nine month period ended May 31, 2012 are not necessarily indicative of results for the entire year ending August 31, 2012.

Organization
Yaterra Ventures Corp. (“the Company”) was incorporated in Nevada on November 20, 2006.
On May 21, 2012, the Company acquired 100% of Pure Spectrum Oil, Inc., a company incorporated in Nevada in exchange for 2,500,000 shares  and the assumption of accounts payable of $9,803 and notes payable of $695,952. In addition, a payable owed by Pure Spectrum Oil totaling $25,000 was forgiven in the acquisition. As a result of the acquisition of the Pure Spectrum Oil shares, the Company is now in the business of oil and gas exploration.
The Company and Pure Spectrum Oil were under common control as of the date of the acquisition. On December 5, 2011, Cedric Atkinson (the Chief Executive Officer of the Company) acquired control of Pure Spectrum, Inc. (the parent of Pure Spectrum Oil) through the acquisition of Series B voting preferred stock in Pure Spectrum, Inc. The acquisition of these Series B preferred shares provided Cedric Atkinson with majority ownership in Pure Spectrum, Inc. In addition, on March 2, 2012, Cedric Atkinson obtained control of Yaterra Ventures, Corp. through the purchase of 900,000 common shares from the previous owner of the Company. Accordingly, for accounting purposes, the acquisition of Pure Spectrum is being accounted for at historical carrying values. The Chief Executive Officer and controlling shareholder of the Company is also the Chief Executive Officer and controlling shareholder of Pure Spectrum.  Transfers or exchanges of equity instruments between entities under common control are recorded at the carrying amount of the transferring entity at the date of transfer with no goodwill or other intangible assets recognized.  Our consolidated financial statements and reported results of operations reflect the Pure Spectrum Oil carryover values, and our reported results of operations and stockholders’ equity have been retroactively restated for all periods presented to reflect the operations of Pure Spectrum Oil and the Company as if the acquisition had occurred on March 2, 2012, the date the Company and Pure Spectrum Oil commenced common control.  All intercompany accounts and balances have been eliminated in consolidation.
Exploration Stage Activities
The Company has been in the exploration stage since its formation and has not yet realized any revenues from its planned operations. The Company was formed for the purpose of acquiring exploration and development stage natural resource properties. The Company has not commenced business operations. The Company is an exploration stage company in accordance with FASB ASC 915, Development Stage Entities.
Reclassifications

Certain prior period amounts have been reclassified to conform to current period presentation.

Fair Value of Financial Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a three-tier fair value hierarchy which prioritizes the inputs in measuring fair value as follows:
Level 1:   Observable inputs such as quoted prices in active markets;
Level 2:   Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
Level 3:   Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
The Company classified the fair value of its derivative liabilities related to conversion options on outstanding debt as Level 3. The following is a reconciliation of the conversion option liability for which Level 3 inputs were used in determining fair value:
5
  MAY 31, 
  2012 
Beginning balance, September 1, 2011 $- 
     
Initial recognition of derivatives  63,289 
Change in fair value of derivatives  (3,327)
Transfers in or out of level 3 classification  - 
     
 Ending balance, May 31, 2012 $59,962 

During the nine ended May 31, 2012, the company recorded a gain on the change in the fair value of derivatives of $3,327.

NOTE 2. GOING CONCERN
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying consolidated financial statements, the Company has incurred a net loss of $819,898 for the period from November 20, 2006 (inception) to May 31, 2012, and has no sales. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations from the development of its natural resource properties. Management has plans to seek additional capital through a private placement and public offering of its common stock. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.
The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States. 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.

NOTE 3. DEPOSIT

During the nine month period ended May 31, 2012, the Company deposited $25,000 with the Railroad Commission of Texas for the right to acquire and hold drilling permits in the state.
NOTE 4. MINERAL PROPERTIES

Mineral properties consisted of the following as of May 31, 2012 and August 31, 2011:

  MAY 31,  AUGUST 31, 
  2012  2011 
Mineral Property      
Blue Jack claims $16,000  $16,000 
Minnie Lode claims  6,000   6,000 
         
  $22,000  $22,000 
During the year ended August 31, 2007, the Company entered into a purchase agreement to acquire an undivided 100% interest in a mineral claim (known as the “Minnie Lode Claims”) located in the Leecher Creek Mining District, Okanogan County, Washington. The consideration was $6,000 cash (paid) on execution of the agreement.
During the year ended August 31, 2009, the Company entered into a purchase agreement to acquire an undivided interest in a series of ten mineral claims (collectively referred to as the “Blue Jack Claims”) located in Humboldt County, Nevada. The consideration was $16,000 (paid) on execution of the agreement.
6
NOTE 5. PROMISSORY NOTES PAYABLE
During the nine month period ended May 31, 2012, the Company borrowed $71,715 from third parties, net of debt-purchase agreements which changed ownership of already outstanding debt debts but not the terms of the debt. These notes bear interest of 10%, are unsecured and are repayable on demand. Also during this period, the Company made payments aggregating $76,310 on its third party debt. As of May 31, 2012, the promissory notes consist of $229,089 in principal and a total of $56,569 has been accrued as interest.
In connection with the acquisition of Pure Spectrum Oil, the Company assumed promissory notes payable aggregating $695,952 (see

Explanatory Note 1). These notes are unsecured, bear interest at 21% per annum and matured between July 2009 and January 2012. As of May 31, 2012, these notes were past due and due on demand.

NOTE 6. PROMISSORY NOTES PAYABLE TO RELATED PARTIES
During the nine month period ended May 31, 2012, the Company borrowed $26,317 from related parties. The Company paid back $6,378 of its related party notes during the period. These notes bear interest at 10%, are unsecured and are repayable on demand. As of May 31, 2012, the promissory notes consist of $27,024 in principal and a total of $1,488 has been accrued as interest.
NOTE 7. CONVERTIBLE NOTES
During the nine month period ended May 31, 2012, the Company borrowed $68,000 under 10% convertible notes, due on December 31, 2014. The notes may be converted into common stock equal to the principal amount of the note divided by 75% of the average trading price for 10 business days prior to the date of conversion. Upon conversion, the Company may elect to pay accrued interest by issuance of common stock using the same terms for the conversion of the notes.

In accordance with the provisionsnew 15c211 requirements the company is providing these interim statements until the matter is heard by the Nevada courts in the custodianship hearing. New 15c211 coming into effect September 28, 2021.

2

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Balance Sheet

As at February 28, 2021 (Unaudited)

  Notes As at
February 28, 2021 (Unaudited)		 
    ($) 
ASSETS     
Current Assets      
Cash and cash equivalents 4  47,706 
Total Current Assets    47,706 
       
Fixed assets 5  727,384 
       
Total Assets    775,090 
       
EQUITY & LIABILITIES      
       
Current Liabilities      
Accounts payable and accrued expenses 6  321,066 
Short term debt 7  871,992 
       
Total Current Liabilities    1,193,058 
       
Long term debt    256,000 
       
Total Liabilities    1,449,058 
       
SHAREHOLDERS’ EQUITY      
       
Preferred Stock ($0.001 Par Value, 100,000,000 shares authorized, 2,000,000 shares issued    1,000 
Common stock, $0.001 Par Value, 6,710,000,000 shares authorized 6,485,161,617, share issued and outstanding 8  6,485,162 
Additional paid in capital    872,269 
Accumulated deficit    (8,032,399)
       
Total Shareholders’ Equity    (673,968)
       
Total Liabilities and Shareholders’ Equity    775,090 

3

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Statement of ASC 470-20, Debt with ConversionProfit and Other Options,loss

For the Company recognized a derivative liability associated with the debtsix months ended February 28, 2021

  Notes For the
six months ended
February 28, 2021		 
      
    (Amount in $) 
      
Gold Sales    42,556 
Cost of sales 10  – 
Gross profit    42,556 
       
Selling, general and administrative expense 10  (78,625)
       
Income / (Loss) from operations    (36,069)
       
Other Income / (expense)      
Interest expense    – 
       
Net Profit / (loss) before provision for Income taxes    (36,069)
Provision for income tax    – 
       
Net Profit / (loss)    (36,069)

4

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Statement of $63,289 and a corresponding debt discountShareholders' Equity

As at February 28, 2021 (Unaudited)

  Common Stock  Preferred Stock  Additional
Paid in
capital		  Accumulated
Profit /
(Deficit)		  Total 
  Shares  Amount  Shares  Amount          
     Amount is $ 
                      
As at August 31, 2020 (Unaudited)  6,485,161,617   6,485,162   10,000,000   1,000   872,269   (7,996,330)  (637,899)
                             
Profit / (loss) for the period                      (36,069)  (36,069)
                             
As at February 28, 2021 (Unaudited)  6,485,161,617   6,485,162   10,000,000   1,000   872,269   (8,032,399)  (673,968)

5

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Statement of $63,289. The fair value of the derivative liability was calculated using a Black-Scholes pricing model, based on the underlying estimated fair values of the common stock. The resulting debt discount is being accreted over the term of the note using the effective interest amortization method. In the event of conversion of the note, the proceeds will be allocated proportionatelyCash Flows

As at February 28, 2021 (Unaudited)

2021
Cash flow from operating activities
(Loss) / profit before income tax(36,069)
Adjustment for non cash charges and other items:
Depreciation / amortization–
Unrealized exchange loss / (gain)–
(36,069)
Changes in working capital
(Decrease) / increase in convertible debt–
(Decrease) / increase in accrued wages51,757
(Decrease) / increase in trade and other payables11,456
63,213
Cash flow from operating activities27,144
Cash flow from investing activities
Additions in intangibles assets–
Cash flow from / (used) in investing activities–
Cash flow from financing activities
Borrowings during the year–
Dividends paid–
Cash flow from financing activities–
Increase / (decrease) in cash and cash equivalents27,144
Cash and cash equivalents at beginning of the year20,562
Cash and cash equivalents at end of the year47,706

6

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Notes to the carrying value ofFinancial Statements

For the convertible note, additional paid-in capital, and to common stock, consistent with the original allocations between their debt and equity components. At May 31, 2012, the Company has recorded amortization of $8,623 on the discount and accrued interest of $2,761.


NOTE 8. RELATED PARTY TRANSACTIONS
During the nine month period ended May 31, 2012, the Company paid or accrued management fees for services valued at $23,500 to directors and also paid or accrued $1,500 to a member of management.
As at May 31, 2012, a total of $72,250 is owing to a director and two members of management. These amounts are unsecured, do not bear interest and are due on demand.
7
NOTE 9. STOCKHOLDERS’ EQUITY
As outlined in Note 10, the Company issued in advance 10,000,000 common shares to the new CEO of the company during the ninesix months ended May 31, 2012. The fair value of the grant was determined to be $281,008 and through May 31, 2012, $1,540 was recognized as stock-based compensation. The remaining $279,469 will be expensed over the remaining vesting period.

As outlined in Note 1, the Company issued 2,500,000 common shares for the acquisition of Pure Spectrum Oil, Inc. on May 15, 2012. The shares were valued at the carryover value of the net liabilities assumed of $680,755.
 NOTE 10. COMMITMENTS AND CONTRACTUAL OBLIGATIONS
On May 15, 2012, the Company reserved 1,000,000 Series A Preferred Shares to be held in escrow and to be issued to the new CEO after the closing of the Pure Spectrum purchase and the completion of a 2 year term.  The stock purchase agreement is the sale of the old CEO’s Company stock to the new CEO. The fair value of the grant was determined to be $281,008 and is being expensed over the vesting period of 2 years. The Company has accrued $6,159 in stock-based compensation related to this award during the nine months ended May 31, 2012.
Additionally, on May 15, 2012, the Company approved executive compensation shares to be issued to two directors.  Each director will be paid 20,000 common shares for each fiscal quarter in which the Company’s Form 10Q is timely filed and 15,000 shares for each fiscal quarter in which the Company’s Form 10Q is filed after an extension is filed. As of August 13, 2012, no shares have been earned under these agreements.
On May 21, 2012, the Company entered into an agreement for a five year term, effective May 1, 2012, with the new CEO receiving for his services $20,000 per month and 10,000,000 common shares which will vest 2,000,000 shares per annum upon completion of each 12 months term of service. The fair value of the grant was determined to be $281,008 and through May 31, 2012, $1,540 was recognized as stock-based compensation. The remaining $279,469 will be expensed over the remaining vesting period.
The company has no other significant commitments or contractual obligations with any other parties respecting executive compensation or consulting agreements. Rental of premises is on a month-to-month basis.

NOTE 11. SUBSEQUENT EVENTS
Subsequent to May 31, 2012:
a) The Company entered into three promissory note agreements, whereby, it borrowed $185 from a related party. The notes bear interest at 10% per annum, are unsecured and are repayable on demand.
b) The Company borrowed a total of $67,500 under four convertible promissory note agreements.  One note will be due on December 1, 2012, two notes will be due December 14, 2012 and the fourth note will be due on January 12, 2013.  Each note can be converted beginning 180 after the issue date by the lender.  The notes will bear interest at 8% per annum payable annually and may be converted into common stock of the Company at 50% discount to the “Fair market value” but not less than $0.001.  “Fair Market Value”: on a date shall be the lessor of: (i) the closing bid price for the date immediately preceding the date of conversion excluding any trades which are not bona fide arm’s length transactions or (ii) the average of the last five trading days closing volume weighted average price.  The Company may elect at its option to pay the interest required annually by an issuance of common shares using the same terms for the conversion of the notes.
8
February 28, 2021

ITEM 2.
1.		MANAGEMENT'S DISCUSSIONLEGAL STATUS AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this Quarterly Report constitute "forward-looking statements.” These statements, identified by words such as “plan,” "anticipate,” "believe,” "estimate,” "should,” "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption, “Part II - Item 1A. Risk Factors,” and elsewhere in this Quarterly Report.
Forward looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable at the date such statement are made.
We intend to discuss in our Quarterly Reports and Annual Reports any events or circumstances that occurred during the period to which such documents relate that are reasonably likely to cause actual events or circumstances to differ materially from those disclosed in this Quarterly Report. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of such factors, may cause actual results to differ materially from those contained in any forwarding looking statement.
We advise you to carefully review the reports and documents we file from time to time with the United States Securities and Exchange Commission (the “SEC”), particularly our periodic reports filed with the SEC pursuant to the Securities Exchange Act of 1934 (the "Exchange Act").
OVERVIEW
We were incorporated on November 20, 2006 pursuant to the laws of the State of Nevada.
We are an exploration stage company engaged in the acquisition and exploration of mineral properties. Currently, we hold a 100% interest in two mineral properties that we call the “Blue Jack Property” and the “Minnie Claim”. The Blue Jack Property is comprised of 10 mineral claims covering approximately 206 acres in Humboldt County, Nevada. The Minnie Claim covers an area of approximately 20 acres in the Leecher Creek Mining Division, Washington State. We plan to focus our resources on the Blue Jack Property in order to assess whether it possesses mineral deposits of gold, silver, copper and rare earth minerals capable of commercial extraction.
In November 2011, we completed a preliminary rock sampling program on the Blue Jack Property. Based on these results, we planned to commence Phase I of the Blue Jack exploration program in Spring 2012. See “Plan of Operation”.

In May 2012, the Company entered into a purchase agreement to acquire 100% of the issued and outstanding shares of PureSpectrum Oil and Gas, Inc., a Nevada Corporation (“PureSpectrum”). The consideration for such transaction was the issuance of 2,500,000 shares of Yaterra common stock to the parent entity of PureSpectrum, and Yaterra’s assumption of $695,952 in PureSpectrum’s liabilities. Management determined that it would be in the best interests of the Company to change its business model and focus its further operations in the Oil and Gas industry.
INTRODUCTION
We are an oil and gas exploration, development and production company. The immediate focus is to purchase existing production from established producing operators as a base to begin the building process. The initial area of activity will be Texas, with New Mexico, Northern Louisiana, Oklahoma and Pennsylvania as secondary areas of interest. The intermediate goal is to utilize positive cash flows generated from production to perform workovers, recompletions and engage in risk-adjusted developmental drilling.

We believe that the current situation in the oil and gas industry, and the opportunities presented by it, offer an extremely favorable window of opportunity that must be acted upon now. Favorable industry fundamentals, including soft crude oil and soft natural gas prices, advances in drilling, completion and fracture stimulation techniques, coupled with ready access to infrastructure will allow the Company to pursue several attractive oil investment opportunities.

We intend to only acquire oil and gas reserves at a purchase price that is expected to result in a profitable operation assuming no further increase in oil and gas prices. We intend to acquire properties that offer two to three years of development drilling opportunities. The potential for increasing revenue and profitability include aggressively pursuing this low risk strategy to increase reserves and production of crude oil and natural gas onshore in the USA. We plan to develop low cost reserves by exploiting mature reserves and finding new reserves in existing producing areas, adjacent to existing infrastructure. We plan to do workovers of existing wells, recompletions in zones behind the pipe and additional development drilling.
We have a limited operating history of oil and gas production and no proven reserves. We have not earned any revenues to date. Management cannot provide any assurances that the Company will ever operate profitably. Our longer-term success depends on, among many other factors, the production of grade oil and gas properties and on the prevailing sales prices for oil and natural gas along with associated operating expenses. The volatile nature of the energy markets makes it difficult to estimate future prices of oil and natural gas; however, any prolonged period of depressed prices would have a material adverse effect on our results of operations and financial condition.

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PLAN OF OPERATION
During the next twelve months and subject to our ability to obtain additional financing, we intend to purchase existing production with identifiable upside to establish cash flow, and effectively manage, enhance and further develop those reserves and continually enlarge them. In addition, we intend to reevaluate the Blue Jack Property Phase I (a) plan in the fourth quarter, to determine the viability of the proposed plan. After our evaluation we then determine if we should proceed, pursue a Joint Venture or sell our existing claims.    To date, we have not earned any revenues and we do not anticipate earning revenues in the near future.
Blue Jack Property
Our plan is to conduct Phase I(a) of our exploration program on the Blue Jack Property in Summer 2012.  However, we will require additional financing in order to implement Phase I(a) of our exploration program on the Blue Jack Property.  If we are able to raise additional financing, of which there is no assurance, our plan for the Blue Jack Property is as follows:

PhaseRecommended Exploration ProgramEstimated CostStatus
Phase I(a)Detailed geological mapping and radiometric surveys and soil and rock sampling along grid.$25,700To be implemented in Summer 2012, subject to obtaining additional financing.
Phase I(b)Geophysical survey (IP and magnetometer).$43,050Planned for Summer 2012.
Phase II(a)Trenching and geochemical analysis$40,500Dependent on the Results of Phases I(a) and I(b)

We anticipate that we will incur the following expenses over the next twelve months:
Category Planned Expenditures Over The Next 12 Months (US$) 
Legal and Accounting Fees $30,000 
Office Expenses  6,000 
Consulting Fees  48,000 
Phase I Exploration Expenses  68,750 
TOTAL $152,750 
As at May 31, 2102, we had $126 cash on hand. As such, we do not have sufficient financial resources to meet the anticipated costs of completing our exploration program for the Blue Jack Property. Accordingly, we will need to obtain additional financing in order to complete our plan of operation and meet our current obligations as they come due. Our Board of Directors approved an offering of up to $100,000 of 10% convertible notes (the “Offering”) pursuant to Regulation S of the Securities Act. As at May 31, 2012, we have issued $68,365 of convertible notes. Completion of the Offering is subject to a number of factors outside of our control, including the results from our exploration program, and any unanticipated problems relating to our mineral exploration activities, such as environmental assessments and additional costs and expenses that may exceed our current estimates. These factors may make the timing, amount, terms or conditions of additional financing unavailable to us in which case our business will fail.
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RESULTS OF OPERATIONS
Three and Nine Months Summary

  Three Months Ended  Percentage  Nine Months Ended  Percentage 
  May 31,  May 31,  Increase /  May 31,  May 31,  Increase / 
  2012  2011  (Decrease)  2012  2011  (Decrease) 
Revenue $-  $-   n/a  $-  $-   n/a 
Expenses  (60,075)  (35,557)  68.9%  (165,892)  (120,944)  37.2%
Net Loss $(60,075) $(35,557)  68.9% $(165,892) $(120,944)  37.2%
Revenue
We have not earned any revenues to date. We do not anticipate earning revenues until such time as we enter into commercial production of our mineral properties. We are presently in the exploration stage of our business and we can provide no assurance that we will discover commercially exploitable levels of mineral resources on our properties, or if such deposits are discovered, that we will enter into further substantial exploration programs.
Expenses
Our expenses for the three and nine months ended May 31, 2012 and the three and nine months ended May 31, 2011 consisted of the following:

  Three  Three             
  Months  Months     Nine Months  Nine Months    
  Ended  Ended  Percentage  Ended  Ended  Percentage 
  May 31,  May 31,  Increase /  May 31,  May 31,  Increase / 
  2012  2011  (Decrease)  2012  2011  (Decrease) 
Selling, general, and administrative $(6,159) $7,345   (183.9)% $9,472  $23,680   (60.0)%
Mineral property costs  -   -   0.0%  2,984   1,756   69.9%
Professional fees  19,612   9,849   99.1%  65,169   43,143   51.1%
Management compensation  27,699   12,000   130.8%  52,699   36,000   46.4%
Total Operating Expenses $41,152  $29,914   26.5% $130,324  $104,579   24.6%
                         
Gain on fair value of derivatives  (3,327)  -   100.0%  (3,327)  -   100.0%
Interest Expense  22,250   6,363   249.7%  38,895   16,365   137.7%
Net Loss $60,075  $35,557   69.0% $165,892  $120,944   37.2%
Our operating expenses increased from $29,914, during the three months ended May 31, 2011, to $41,152, during the three months ended May 31, 2012. The increase was primarily due to increases in professional fees and management compensation as a result of hiring of a new CEO during the period, which were offset by decreases in selling, general, and administrative expenses.
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Our operating expenses increased from $104,579, during the nine months ended May 31, 2011, to $130,324, during the nine months ended May 31, 2012. The increase was primarily due to increases in professional fees and management compensation as a result of hiring of a new CEO during the period, which were offset by decreases in selling, general, and administrative expenses.
Professional Fees expenses primarily relate to expenses incurred in connection with meeting our ongoing reporting requirements under the Exchange Act, and consist of accounting and audit expenses, consulting expenses, and legal expenses.
Management Fees consists of salaries paid to our executive directors and officers, as well as stock-based compensation related to stock grants.
Mineral Property Exploration Costs relate to costs incurred with our preliminary rock sampling program on the Blue Jack Property in November 2011.
If we are able to obtain sufficient financing to proceed with our plan of operation, of which there is no assurance, we expect that our expenses will increase significantly as we engage in mining and exploration activities.
LIQUIDITY AND CAPITAL RESOURCES

Working Capital         
        Percentage 
  As at  As at  Increase / 
  May 31, 2012  August 31, 2011  (Decrease) 
Current Assets $25,126  $360   6879.4%
Current Liabilities  (1,349,080)  (485,367)  178.0%
Working Capital Deficit $(1,323,954) $(485,007)  173.0%

Cash Flows      
  Nine Months Ended  Nine Months Ended 
  May 31, 2012  May 31, 2011 
Cash Flows (Used In) Operating Activities $(83,218) $(74,772)
Cash Flows (Used In) Investing Activities  -   (493)
Cash Flows Provided By Financing Activities  83,344   72,454 
Increase (Decrease) In Cash During Period $126  $(2,811)
As of May 31, 2012, we had $126 cash on hand and a working capital deficit of $1,323,954. The increase in our working capital deficit is primarily a result of: (i) an increase in debt payable of $695,952 from the acquisition of Pure Spectrum, Inc. (ii) an increase in accounts payable due to a lack of capital to meet our ongoing expenditures; (iii) the fact that we received $26,317 in short term loans from related parties, which bears interest at 10%, are unsecured and due on demand; and (iiii) the fact that we issued $68,000 of convertible notes. We have incurred a cumulative net loss of $819,898 for the period from the date of our inception on November 20, 2006 to May 31, 2012 and have not attained profitable operations to date.
Since our inception, we have used our common stock to raise money for our operations and to fund our property acquisitions. We have not obtained profitable operations and are dependent upon obtaining additional financing to pursue our plan of operation.
Future Financings
We currently do not have sufficient financial resources to implement Phase I(a) of our exploration program on the Blue Jack Property. Therefore, we will need to obtain additional financing in order to implement our exploration program on the Blue Jack Property.
On December 9, 2011, our Board of Directors approved an offering of up to $100,000 of 10% convertible notes (the “Offering”). The Offering will be completed pursuant to Regulation S of the Securities Act to persons who are not U.S. Persons as contemplated under Regulation S. The proceeds of the Offering will be used to fund our business and for working capital purposes. As of May 31, 2012, we have issued $68,000 of convertible notes. There is no assurance that the Offering will be completed on the above terms or at all.
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Our plan of operation calls for us to spend significantly more than our current capital resources or the amount of financing that we have been able to obtain to date. As such, there is a substantial doubt that we will be able to raise significant financing to complete our stated plan of operation. Any substantial financing that we are able to obtain is expected to be in the form of equity financing.
OFF-BALANCE SHEET ARRANGEMENTS
We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.
CRITICAL ACCOUNTING POLICIES
Use of Estimates
The preparation of financial statements, in conformity with generally accepted accounting principles, requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Actual results may differ from the estimates.
Significant accounts that require estimates as a basis for determining the stated amounts include mineral property acquisition costs and impairment, accrued liabilities and the valuation allowance of deferred tax assets.
Exploration Stage Enterprise
Our financial statements are prepared using the accrual method of accounting. Until such properties are acquired and developed, we will continue to prepare our financial statements and related disclosures in accordance with entities in the exploration stage.
Mineral Property Interests
We are an exploration stage mining company and have not yet realized any revenue from our operations. We are primarily engaged in the acquisition, exploration and development of mining properties. Exploration costs are expensed as incurred regardless of the stage of development or existence of reserves. Costs of acquisition are capitalized subject to impairment testing when facts and circumstances indicate impairment may exist.
We regularly perform evaluations of any investment in mineral properties to assess the recoverability and/or the residual value of our investments in these assets. All long-lived assets are reviewed for impairment whenever events or circumstances change which indicate the carrying amount of an asset may not be recoverable.
Our management periodically reviews the carrying value of our investments in mineral leases and claims with internal and external mining related professionals. A decision to abandon, reduce or expand a specific project is based upon many factors including general and specific assessments of mineral deposits, anticipated future mineral prices, anticipated future costs of exploring, developing and operating a producing mine, the expiration term and ongoing expenses of maintaining mineral properties and the general likelihood that we will continue exploration on such project. We do not set a predetermined holding period for properties with unproven deposits; however, properties which have not demonstrated suitable metal concentrations at the conclusion of each phase of an exploration program are re-evaluated to determine if future exploration is warranted, whether there has been any impairment in value and that their carrying values are appropriate.
If an area of interest is abandoned or it is determined that its carrying value cannot be supported by future production or sale, the related costs are charged against operations in the year of abandonment or determination of value. The amounts recorded as mineral leases and claims represent costs to date and do not necessarily reflect present or future values.
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Our exploration activities and proposed mine development are subject to various laws and regulations governing the protection of the environment. These laws are continually changing, generally becoming more restrictive. We have made, and expect to make in the future, expenditures to comply with such laws and regulations.
ITEM 3.               QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
Not Applicable.
ITEM 4.               CONTROLS AND PROCEDURES.
Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Accounting Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rules 13a-15(e) and 15(d)-15(e) as of May 31, 2012, (“Evaluation Date”). Based upon that evaluation, our Principal Executive Officer and Principal Accounting Officer concluded that our disclosure controls and procedures were not effective as of the Evaluation Date as a result of the material weaknesses in internal control over financial reporting discussed in our Annual Report on Form 10-K for the year ended August 31, 2011 (the "2011 Annual Report").
Notwithstanding the assessment that our internal control over financial reporting was not effective and that there were material weaknesses as identified in our 2011 Annual Report, we believe that our financial statements contained in our Quarterly Report on Form 10-Q for the quarter ended May 31, 2012 fairly present our financial condition, results of operations and cash flows in all material respects.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting that occurred during the fiscal quarter ended May 31, 2012 that have materially affected, or that are reasonably likely to materially affect, our internal control over financial reporting.
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PART II - OTHER INFORMATION
ITEM 1.               LEGAL PROCEEDINGS.
None.
ITEM 1A.             RISK FACTORS.
Smaller reporting companies are not required to provide the information required by this item.
ITEM 2.               UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
None.
ITEM 3.               DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4.               MINE SAFETY DISCLOSURES
None.
ITEM 5.               OTHER INFORMATION.
None.
ITEM 6.               EXHIBITS.
The following exhibits are either provided with this Quarterly Report or are incorporated herein by reference:
Exhibit No.Description
31.1Certification of Principal Executive Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  
32.1CertificationMining Global Inc. was incorporated as Yaterra Ventures Corp. ("the Company") under the laws of Principal Executive Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906state of the Sarbanes-Oxley Act of 2002.Nevada on November 20, 2006.
  
101.INS *XBRL Instance DocumentThe Company is "exploration stage company" and is primarily engaged in the acquisition, exploration and development of mineral properties. The company holds several mineral properties and is currently focusing its resources in assessing the mineral deposits of lead, zinc, copper, silver, gold or uranium capable of commercial extraction.
  
101.SCH *2.XBRL Taxonomy SchemaBASIS OF PREPARATION
  
101.CAL *2.1XBRL Taxonomy Calculation LinkbaseStatement of compliance
  
101.DEF *XBRL Taxonomy Definition LinkbaseThe accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") on a going concern.
  
101.LAB *2.2XBRL Taxonomy Label LinkbaseAccounting Convention
  
101.PRE *XBRL Taxonomy Presentation LinkbaseThese financial statements have been prepared on the basis of 'historical cost convention using accrual basis of accounting except as otherwise stated in the respective accounting policies notes.
Going concern
The Company had accumulated losses and had a negative cash flow from operations for the reporting period. Further, the accumulated (deficit) has raised at that date, which raises substantial doubt about its ability to continue as a going concern. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations from development of its natural properties. Management has plans to seek additional capital through private placement and public offering of its common stock. The financial statements don’t contain any adjustments relating to recoverability and classification of its recorded assets, or the amounts of and classification of its liabilities that might be necessary in the event the Company cannot continue to exist.
2.3Critical accounting estimates and judgments
The preparation of financial statements in conformity with the approved accounting standards require management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if the revision affects only that period, or in the period of the revision and future periods.

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The areas involving higher degree of judgment and complexity, or areas where assumptions and estimates made by the management are significant to the financial statements are as follows:

i)Equipment - estimated useful life of equipment (note - 3.8)
ii)Exploration and evaluation cost (note - 3.5)
iii)Provision for doubtful debts (note - 3.4)
iv)Provision for income tax (note - 3.1)

3.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3.1Income tax
The tax expense for the year comprises of income tax, and is recognized in the statement of earnings. The income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
Deferred income tax is accounted for using the balance sheet liability method in respect of all temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred income tax liabilities are recognised for all taxable temporary differences and deferred income tax assets are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and unused tax losses can be utilized. Deferred income tax is calculated at the rates that are expected to apply to the period when the differences are expected to be reversed.
3.2Trade and other payables
Liabilities for trade and other amounts payable are carried at cost, which is the fair value of the consideration to be paid in future for goods and services received, whether or not billed to the Company.
3.3Provisions
A provision is recognized in the financial statements when the Company has a legal or constructive obligation as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation.
3.4Accounts Receivable
Accounts receivable are non-interest bearing obligations due under normal course of business. The management reviews accounts receivable on a monthly basis to determine if any receivables will be potentially uncollectible. Historical bad debts and current economic trends are used in evaluating the allowance for doubtful accounts. The Company includes any accounts receivable balances that are determined to be uncollectible in its overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of period ended is adequate.
3.5Exploration and evaluation cost
The Company accounts for costs incurred in accordance with applicable accounting standards. These standards require that all exploration and evaluation expenditures are accounted for using the ‘successful efforts’ method of accounting. Costs are accumulated on a field-by-field basis. Geological and geophysical costs are expensed as incurred. Costs directly associated with an exploration well, and exploration and property leasehold acquisition costs, are capitalised until the determination of reserves is evaluated. If it is determined that commercial discovery has not been achieved, these costs are charged to expense.

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In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.

Capitalisation is made within property, plant and equipment or intangible assets according to the nature of the expenditure.

Once commercial reserves are found, exploration and evaluation assets are tested for impairment and transferred to development tangible and intangible assets. No depreciation and/or amortisation is charged during the exploration and evaluation phase.
3.6Contingent liabilities
A contingent liability is disclosed when the Company has a possible obligation as a result of past events, the existence of which will be confirmed only by the occurrence or non-occurrence, of one or more uncertain future events, not wholly within the control of the Company; or when the Company has a present legal or constructive obligation, that arises from past events, but it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation, or the amount of the obligation cannot be measured with sufficient reliability.
3.7Financial liabilities
Financial liabilities are recognized when the Company becomes party to the contractual provision of the instruments and the Company loses control of the contractual right that comprise the financial liability when the obligation specified in the contract is discharged, cancelled or expired. The Company classifies its financial liabilities in two categories: at fair value through profit or loss and financial liabilities measured at amortized cost. The classification depends on the purpose for which the financial liabilities were incurred. Management determines the classification of its financial liabilities at initial recognition.

(a)Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss are financial liabilities held for trading. A financial liability is classified in this category if incurred principally for the purpose of trading or payment in the short-term. Derivatives (if any) are also categorized as held for trading unless they are designated as hedges.
(b)Financial liabilities measured at amortized cost
These are non-derivative financial liabilities with fixed or determinable payments that are not quoted in an active market. These are recognized initially at fair value, net of transaction costs incurred and are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the profit and loss account.

3.8Property, plant and equipment
All equipments are stated at cost less accumulated depreciation and impairment loss. The cost of fixed assets includes its purchase price, import duties and non-refundable purchase taxes and any directly attributable costs of bringing the asset to its working condition and location for its intended use.
Depreciation on additions to property, plant and equipment is charged, using straight line method, on pro rata basis from the month in which the relevant asset is acquired or capitalized, upto the month in which the asset is disposed off. Impairment loss, if any, or its reversal, is also charged to income for the year. Where an impairment loss is recognized, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less its residual value, over its estimated useful life.
Maintenance and normal repair costs are expensed out as and when incurred. Major renewals and improvements are capitalized and assets so replaced, if any are retired.
Gains and losses on disposal of fixed assets, if any, are recognized in statement of profit and loss.

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3.9Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks. For the purpose of the statement of cash flows, cash and cash equivalents bank balances and short term highly liquid investments subject to an insignificant risk of changes in value and with maturities of less than three months.
3.10Revenue recognition
Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably. Revenue is measured at the fair value of the consideration received or receivable for goods sold or services rendered, net of discounts and sales tax and is recognised when significant risks and rewards are transferred.
3.11Functional and presentation currency
Items included in the financial statements are measured using the currency of the primary economic environment in which the Company operates. The financial statements are presented in US (Dollars) which is the Company's presentation currency. All financial information presented in US Dollars has been rounded to the nearest dollar unless otherwise stated.
3.12Foreign currency transactions
Foreign currency transactions are translated into the functional currency using the exchange rate prevailing on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the exchange rate prevailing at the statement of financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates are recognized in the profit and loss account.
3.13Contingencies
The assessment of the contingencies inherently involves the exercise of significant judgment as the outcome of the future events cannot be predicted with certainty. The Company, based on the availability of the latest information, estimates the value of contingent assets and liabilities, which may differ on the occurrence / non-occurrence of the uncertain future event(s).
4.Cash
This represent cash in hand and cash deposited in bank accounts (current) by the Company.
5.Fixed assets

Amount in $
Fixed assets727,384

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6.Accounts payable and accrued expenses

Opening balance309,610
Net movement in liabilities during the period11,456
321,066

7.Short term debt

Opening balance820,235
Net movement in liabilities during the period51,757
871,992

8.Share Capital
This represents ordinary share capital issued by the Company at the par value.The shares issued by the company, if any, during the period are represented in statement of changes in equity.

9.Operating expenses

Amount in $
Entertainment24,796
Travel and conveyance10,698
Office and general9,120
Repairs and maintenance5,861
Bank charges and interest4,854
Professional fees23,296
78,625

10.Contingencies and Commitments
The company has no contingency and commitment as at the end of reporting period.

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* Furnished herewith. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

11.Other Information
i) Evaluation of Disclosure Controls and Procedures
Management of the Company has evaluated, with the participation of the Chief Executive Officer and Chief Financial Officer of the Company, the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer of the Company had concluded that the Company's disclosure controls and procedures as of the period covered by this Quarterly Report on Form 10-Q were effective.
ii) Changes in internal control over financial reporting .
Management of the Company has also evaluated, with the participation of the Chief Executive Officer of the Company, any change in the Company’s internal control over financial reporting that occurred during the period covered by this Quarterly Report on Form 10-Q and determined that there was no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 YATERRA VENTURES CORP.MINING GLOBAL, INC.
  
  By:/s/ Tom Ilic
  Tom Ilic
Chief Executive Officer
Date:  August 13, 2012By:/s/ Cedric Atkinson

Date:  September 27, 2021

 CEDRIC ATKINSON
13 President, Secretary and Treasurer
(Principal Executive Officer and Principal Accounting Officer)


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