Freegold Limited

What they do

Freegold Ventures Limited is a British Columbia, Canada incorporated company in the gold and silver ores industry (SIC code 1041). The company's principal executive offices are located at 507 1540 West 2nd Avenue, Vancouver, British Columbia. As of December 31, 2008, the company had 64,226,593 common shares outstanding. The provided excerpt from its Form 20-F/A does not describe specific mining properties, projects, or operations.

Revenue drivers

• Not applicable — The company is an exploration-stage mining issuer and the filing excerpt contains no disclosure of revenue-generating activities, products, or customers.
• Not applicable — No segment or product line information is provided in the excerpt.
• Not applicable — The excerpt does not describe how the company makes money.

Recent performance

No financial results are disclosed in the provided excerpt from the Form 20-F/A for the fiscal year ended December 31, 2008. The excerpt focuses on an amendment filed May 7, 2010, to include a management report on internal control over financial reporting and an audit report for the year ended December 31, 2006. No revenue, expense, or cash flow figures are provided.

Strategy

The filing excerpt does not describe the company's business strategy or investment priorities. The Form 20-F/A was filed as Amendment #2 to respond to SEC correspondence and to add disclosures related to internal control over financial reporting and an audit report for 2006.

Risks

• Exploration-stage risk — As a gold and silver exploration company, Freegold Ventures has no operating revenue and is dependent on financing to fund its activities.
• Internal control deficiency — Management concluded that disclosure controls and procedures were not effective as of December 31, 2008, due to the omission of management's report on internal control over financial reporting in the original Form 20-F.
• No auditor attestation — The company's registered public accounting firm did not attest to management's assessment of internal control over financial reporting, relying on temporary SEC rules.
• Inherent limitations of controls — Management notes that all internal control systems have inherent limitations and can provide only reasonable assurance regarding financial statement reliability.

Outlook

The filing excerpt does not provide management's outlook or forward-looking guidance. The Form 20-F/A was filed solely to amend the annual report for the fiscal year ended December 31, 2008.