For the three months that ended October 31, 2009 AMNP had a net loss of $166,085. This was $160,976 greater than the net loss of $5,109 for the quarter ended October 31, 2008. The significant change in results over the two periods is primarily the result of increases in legal fees, consulting expenses, investor relations, audit and interest expenses.
Net cash flow used in operating activities during the three-months ended October 31, 2009 was $70,389 which was an increase of $65,661 from the $4,728 net cash outflow during the three-months ended October 31, 2008.
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American Sierra Gold Corp. (American Sierra), formerly CE Entertainment, Inc., is a development-stage company. The Company is engaged in precious metal mineral acquisition, exploration and development. As of July 31, 2009, the Company had two projects: Urique Project and Discovery Day Gold Project. The Urique Project in Sierra Madre, Mexico is located on a 71,334 acre property on the Sierra Madre gold belt. As of July 31, 2009, the Company had 90% interest in 11 concessions in the Urique Project. The Discovery Day Gold Project covers over 950 acres and controls the entire Knownothing Mining District in northern California. This mining district includes four principal mines: the Gilta, Discovery Day, Hansen, and Knownothing along with several other smaller mines and prospects.
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