OTC Bulletin Board

S & P Company Insight for XTRA-GOLD RES CORP

Business Summary: Xtra-Gold Resources Corp., an exploration-stage company, engages in the exploration of gold properties in the Republic of Ghana, West Africa. The company's mining portfolio includes several projects.
  360 Bay Street, Suite 301
  Toronto , Ontario M5H 2V6
  Phone: 416-366-4227
  Website: http://www.xtragold.com
Transfer Agent
  Allied Stock Transfer, Inc.
ShareHolders:  563
Founded:  1998
Domicile:  Nevada

Xtra-Gold Resources Corp., in the exploration stage as of Mar. 31, 2010, is a gold exploration company engaged in the exploration of gold properties in the Republic of Ghana, West Africa. The company's mining portfolio consists of 246.84 square kilometers comprised of 51.67 square kilometers for its Banso Project, 55.65 square kilometers for its Muoso Project, 33.65 square kilometers for its Apapam Project, 44.76 square kilometers for its Kwabeng Project, 40.51 square kilometers for its Pameng Project and 20.60 square kilometers for its Edum Banso Project, or 60,969 acres, pursuant to the leased and licensed areas set forth in the company's respective mining leases, prospecting licenses and/or option agreement. The company holds three mining leases in Ghana for its Kwabeng, Pameng and Apapam Projects. It holds a prospecting license on its Banso and Muoso Project in Ghana. The company also holds an option on the Edum Banso Project in Ghana. Xtra-Gold's strategic plan with respect to its gold projects includes the following elements: to focus efforts and dedicate financial resources toward the potential to drill out a resource and, perhaps ultimately, a reserve of the Kibi Gold Trend located on the company's Apapam Project; to define a resource and, perhaps ultimately, a reserve on the company's other exploration projects; to enter into negotiations with independent Ghanaian contract miners and operators to resume Xtra-Gold's recovery of gold operations at its Kwabeng Project with a view to these contractors conducting recovery of gold operations for fixed payments to the company; and to acquire further interests in gold mineralized projects that fall within the criteria of providing a geological basis for development of drilling initiatives that can enhance shareholder value by demonstrating the potential to define reserves. In October 2008, Xtra-Gold suspended operations at its Kwabeng Project while the company's management considered a more economic and efficient manner in which to extract and process the gold recovered from the mineralized material at this project. In mid-May 2010, Xtra-Gold reported that during the next 12 months it planned to enter into negotiations to contract out the recovery of gold operations at this project; advance the development of its Kibi Gold Trend located on the company's Apapam Project by carrying out the Phase III drill program; and acquire further interests in mineral projects by way of acquisition or joint venture participation.
History:  INCORPORATED in Nevada Sept. 1, 1998, as Silverwing Systems Corp.; name changed to Advertain On-Line Inc. Aug. 19, 1999, to RetinaPharma International, Inc. June 18, 2001, and to Xtra-Gold Resources Corp. Dec. 19, 2003. October 31, 2003, acquired 100% of the issued and outstanding Common stock of Xtra-Gold Resources, Inc. (incorporated in Florida Oct. 24, 2003) for 10,070,000 Common shares.
Xtra Energy Corp.
Xtra Oil & Gas (Ghana) Limited
Xtra Oil & Gas Ltd.
Xtra-Gold Exploration Limited
Xtra-Gold Mining Limited


 Richard W. GraystonChairman
 James  LongshorePresident, Chief Financial Officer & Chief Executive Officer
 Peter  MinukSecretary & Treasurer

 Richard W. Grayston
 James  Longshore
 Peter  Minuk
 Robert H. Montgomery
 Paul  Zyla
 Annual Report

Annual Report
Income Statement
General and administrative9571,035
Foreign exchange gain (loss)303(425)
Realized gains (losses) on sales of trading securities(173)3
Net unrealized gain (loss) on trading securities790(858)
Gain on recovery of gold114,141
Other income139197
Interest exp.349
Net income(1,038)(3,231)
Share earns. basic($0.03)($0.11)
Share earns. diluted($0.03)($0.11)
Balance Sheet
Cash & equiv.623272
Receivables and other4693
Deposit for equipment 152-
Tot. curr assets2,6021,835
Net property245312
Deferred financing costs 14
Oil and gas investment 4040
Mineral properties1,6631,663
Total assets4,5513,854
Convertible debentures250-
Accts. pay. & accruals233535
Tot. curr. liabs.483535
Convertible debentures-250
Asset retirement obligation7265
Com. stk. p.$0.0013331
Paid-in cap.14,77112,742
Retained earns.(10,732)(9,769)
Non-controlling interest(76)-
Total liabs.4,5513,854
 Interim Report

Interim Report    01/01/2010  -  03/31/2010
Income Statement
General and administrative234
Foreign exchange gain 45
Realized gains on sales of trading securities83
Net unrealized gains on trading securities153
Other income18
Net loss attributable to non-controlling interest(17)
Interest exp.1
Net income(112)
Share earns. basicNil
Share earns. dilutedNil
Balance Sheet
Cash & equiv.1,002
Other curr. assets65
Tot. curr assets2,248
Net property509
Oil and gas investment40
Mineral properties1,663
Total assets4,460
Accts. pay. & accruals253
Tot. curr. liabs.253
Asset retirement obligation74
Com. stk. p.$0.00133
Paid-in cap.14,938
Subscriptions received in advance100
Retained earns.(10,844)
Non-controlling interest(94)
Total liabs.4,460
 Pro Forma Report

Pro Forma Report   
Data Not Available
 Quarterly Report

Quarterly Report Information   
Quarterly Revenue, US$
  2007   2340,000
Quarterly Net Income, US$
  2010   1(110,000)
  2009   Full Year (960,000)
  2008   Full Year (3,230,000)
  2007   Full Year (1,870,000)
  2006   Full Year (2,560,000)
  2005   Full Year (270,000)
Quarterly EPS, US$
  2010   1Nil
  2009   1(.01)
  2009   2Nil
  2009   3(.01)
  2009   4(.01)
  2009   Full Year (.03)
  2008   1Nil
  2008   2(.01)
  2008   3(.05)
  2008   4(.05)
  2008   Full Year (.11)
  2007   1(.02)
  2007   2(.01)
  2007   3Nil
  2007   4(.03)
  2007   Full Year (.07)
  2006   1(.01)
  2006   2(.02)
  2006   3(.02)
  2006   4(.04)
  2006   Full Year (.10)
  2005   3.01
  2005   4(.02)
  2005   Full Year (.01)
 Stock Data

Capitalization as of 03/31/2010:
 Authorized SharesOutstanding Shares
Common $0.001 par250,000,00033,400,586
Common $0.001 par
Stockholders:  03/29/2010, 563.
PRINCIPAL STOCKHOLDERS: March 29, 2010, James Longshore owned or controlled 8.0% of the Common, and Mark T. McGinnis 7.5%.
Transfer Agent:  Allied Stock Transfer, Inc.   Atlantic Highlands , NJ
OTC Bulletin Board( Primary): XTGR
OTC Bulletin Board20091.14000.3650
OTC Bulletin Board20082.00000.2500
DIVIDENDS: Common $0.001 par: No cash.