2024 Q2 Form 10-Q Financial Statement

#000149315224022274 Filed on June 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $975.0K $1.768M $401.2K
YoY Change 143.04% -57.43% 1223.96%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $975.0K $1.768M $401.2K
YoY Change 143.04% -57.43% 1224.17%
Operating Profit -$975.0K -$401.2K
YoY Change 143.04% 1224.17%
Interest Expense $49.81K -$121.3K $107.2K
YoY Change -53.52% -64.42% 4.64%
% of Operating Profit
Other Income/Expense, Net -$69.30K -$79.88K -$173.8K
YoY Change -60.13% 1209.51%
Pretax Income -$1.044M -$1.969M -$575.0K
YoY Change 81.61% -54.2% 1798.0%
Income Tax
% Of Pretax Income
Net Earnings -$1.044M -$1.969M -$575.0K
YoY Change 81.61% -54.2% 1798.01%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 248.2M shares 208.8M shares
Diluted Shares Outstanding 224.3M shares 17.96M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.005M $30.15K $116.7K
YoY Change 761.04% -93.01%
Cash & Equivalents $1.005M $30.15K $116.7K
Short-Term Investments
Other Short-Term Assets $103.8K $21.62K $23.68K
YoY Change 338.26% -97.91%
Inventory
Prepaid Expenses $103.8K $21.62K $23.68K
Receivables
Other Receivables
Total Short-Term Assets $1.109M $51.77K $140.4K
YoY Change 689.76% -88.0%
LONG-TERM ASSETS
Property, Plant & Equipment $40.45K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $140.4K $100.0K $100.0K
YoY Change 40.45% 0.0%
TOTAL ASSETS
Total Short-Term Assets $1.109M $51.77K $140.4K
Total Long-Term Assets $140.4K $100.0K $100.0K
Total Assets $1.249M $151.8K $240.4K
YoY Change 419.66% -71.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $406.0K $434.5K $283.4K
YoY Change 43.28% 22.48%
Accrued Expenses $883.1K $1.486M $165.6K
YoY Change 433.25% 1512.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $260.0K
YoY Change
Total Short-Term Liabilities $1.549M $1.920M $449.0K
YoY Change 245.04% 329.7% 212.47%
LONG-TERM LIABILITIES
Long-Term Debt $2.875M $3.759M $3.422M
YoY Change -15.98% 12.09%
Other Long-Term Liabilities $1.344M $533.0K $1.424M
YoY Change -5.64% -60.57%
Total Long-Term Liabilities $4.219M $4.292M $4.846M
YoY Change -12.94% -8.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.549M $1.920M $449.0K
Total Long-Term Liabilities $4.219M $4.292M $4.846M
Total Liabilities $5.768M $6.212M $5.295M
YoY Change 8.93% 20.58% 3585.44%
SHAREHOLDERS EQUITY
Retained Earnings -$33.05M -$31.60M -$28.46M
YoY Change 16.11% 13.31% 284.82%
Common Stock $247.0K $214.6K $209.3K
YoY Change 18.0% 2.97% 943.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.519M -$6.061M -$5.055M
YoY Change
Total Liabilities & Shareholders Equity $1.249M $151.8K $240.4K
YoY Change 419.66% -71.44%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.044M -$1.969M -$575.0K
YoY Change 81.61% -54.2% 1798.01%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$778.4K -$253.6K -$314.7K
YoY Change 147.4% 71.83%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.753M 266.0K
YoY Change -26.32%
NET CHANGE
Cash From Operating Activities -$778.4K -253.6K -$314.7K
Cash From Investing Activities
Cash From Financing Activities $1.753M 266.0K
Net Change In Cash $974.9K 12.43K -$314.7K
YoY Change -409.82% -94.18%
FREE CASH FLOW
Cash From Operating Activities -$778.4K -$253.6K -$314.7K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q2 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q2 dei Entity Address Address Line1
EntityAddressAddressLine1
800 W. Main Street
CY2024Q2 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1460
CY2024Q2 dei Entity Address City Or Town
EntityAddressCityOrTown
Boise
CY2024Q2 dei Entity Address State Or Province
EntityAddressStateOrProvince
ID
CY2024Q2 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
83702
CY2024Q2 dei City Area Code
CityAreaCode
(208)
CY2024Q2 dei Local Phone Number
LocalPhoneNumber
274-9220
CY2024Q2 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q2 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q2 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
11000 usd
CY2023Q2 us-gaap Professional Fees
ProfessionalFees
129145 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10500 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
140741 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
401156 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-401156 usd
CY2023Q2 COPR Amortization Of Debt Instrument Convertible Beneficial Conversion Feature
AmortizationOfDebtInstrumentConvertibleBeneficialConversionFeature
66679 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208754327 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208754327 shares
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
189248 usd
CY2024Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--01-31
CY2024Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2025
CY2024Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001263364
CY2024Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q2 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
usd
CY2024Q1 us-gaap Longterm Transition Bond Current
LongtermTransitionBondCurrent
usd
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2024Q2 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
usd
CY2024Q2 us-gaap Revenues
Revenues
usd
CY2024Q2 COPR Amortization Of Debt Instrument Convertible Beneficial Conversion Feature
AmortizationOfDebtInstrumentConvertibleBeneficialConversionFeature
usd
CY2023Q2 COPR Amortization Of Debt Discount
AmortizationOfDebtDiscount
usd
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
usd
CY2024Q2 COPR Stock Issued During Period Value Stock Options One Exercised
StockIssuedDuringPeriodValueStockOptionsOneExercised
usd
CY2024Q2 COPR Amortization Of Debt Instrument Convertible Beneficial Conversion Feature
AmortizationOfDebtInstrumentConvertibleBeneficialConversionFeature
usd
CY2023Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2023Q2 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
usd
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2024Q2 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q2 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2024Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2023Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2023Q2 COPR Conversion Of Convertible Notes Payable
ConversionOfConvertibleNotesPayable
usd
CY2023Q2 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
shares
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q2 COPR Deferred Tax Assets Timing Differences
DeferredTaxAssetsTimingDifferences
usd
CY2024Q1 COPR Deferred Tax Assets Timing Differences
DeferredTaxAssetsTimingDifferences
usd
CY2024Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2024Q2 dei Document Type
DocumentType
10-Q
CY2024Q2 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q2 dei Document Period End Date
DocumentPeriodEndDate
2024-04-30
CY2024Q2 dei Entity Registrant Name
EntityRegistrantName
IDAHO COPPER CORPORATION
CY2024Q2 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2024Q2 dei Entity File Number
EntityFileNumber
333-108715
CY2024Q2 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-0221494
CY2024Q2 dei Security12b Title
Security12bTitle
Common
CY2024Q2 dei Trading Symbol
TradingSymbol
COPR
CY2024Q2 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
249854437 shares
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1005010 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30146 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
103775 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
1108785 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
40446 usd
CY2024Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
100000 usd
CY2024Q2 us-gaap Assets
Assets
1249231 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
406013 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
342492 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
40446 usd
CY2024Q2 us-gaap Longterm Transition Bond Current
LongtermTransitionBondCurrent
260000 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1549086 usd
CY2024Q2 us-gaap Long Term Transition Bond
LongTermTransitionBond
2875000 usd
CY2024Q1 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
623999 usd
CY2024Q2 COPR Interest Payable Non Current
InterestPayableNonCurrent
1343984 usd
CY2024Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
4218984 usd
CY2024Q2 us-gaap Liabilities
Liabilities
5768070 usd
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
162 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
162 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
247017097 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
247017097 shares
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
247017 usd
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
28284020 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-33049876 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-4518839 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1249231 usd
CY2024Q2 us-gaap Professional Fees
ProfessionalFees
258915 usd
CY2024Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
257500 usd
CY2023Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
107000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
113700 usd
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
189248 usd
CY2024Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
155599 usd
CY2023Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
13770 usd
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
974962 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-974962 usd
CY2024Q2 COPR Amortization Of Debt Discount
AmortizationOfDebtDiscount
19490 usd
CY2024Q2 us-gaap Interest Expense
InterestExpense
49814 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
107166 usd
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-69304 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-173845 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1044266 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-575001 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
224344801 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
224344801 shares
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-4620577 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
140739 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-575001 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-5054839 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-6060609 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-6060609 usd
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1753300 usd
CY2024Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1048793 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1044266 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-4518839 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-4518839 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1044266 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-575001 usd
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
189248 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
140741 usd
CY2023Q2 COPR Amortization Of Debt Instrument Convertible Beneficial Conversion Feature
AmortizationOfDebtInstrumentConvertibleBeneficialConversionFeature
66679 usd
CY2024Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
19490 usd
CY2024Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
82151 usd
CY2023Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
23675 usd
CY2024Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-32347 usd
CY2023Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-69517 usd
CY2024Q2 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
133840 usd
CY2023Q2 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
47000 usd
CY2024Q2 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-37750 usd
CY2023Q2 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-99120 usd
CY2024Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-778436 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-314653 usd
CY2024Q2 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
1753300 usd
CY2024Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1753300 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
974864 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-314653 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30146 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
431374 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1005010 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
116721 usd
CY2024Q2 COPR Conversion Of Convertible Notes Payable
ConversionOfConvertibleNotesPayable
1048793 usd
CY2024Q2 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
19521 shares
CY2024Q2 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_802_eus-gaap--NatureOfOperations_zQy4LPCeyJ3g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82A_zdxbr2YOKXNi">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the financial statements of Idaho Copper Corporation (formerly known as Joway Health Industries Group Inc.) (referred to herein as “Idaho Copper”). Idaho Copper is hereinafter referred to as the “Company,” “we” and “us.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2022, the Company consummated the transactions contemplated by the Stock Purchase Agreement dated as of January 31, 2022 (the “Purchase Agreement”), by and among the Company, Crystal Globe Limited, a company incorporated under the laws of British Virgin Islands (the “Seller”), and JHP Holdings, Inc., a Nevada corporation (the “Buyer”), pursuant to which the Buyer purchased <span id="xdx_903_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_c20220203__20220203__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zGbV0OanQZsg" title="Buyer purchased common stock shares">16,644,820</span> shares of common stock of the Company from the Seller.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 23, 2023, the Company entered into and consummated the transactions contemplated by a share exchange agreement (the “Share Exchange Agreement”) by and among the Company, International CuMo Mining Corporation, an Idaho corporation (“ICUMO”), and all of the shareholders of ICUMO (collectively, the “ICUMO Shareholders”). Pursuant to the terms of the Share Exchange Agreement (the “RTO”), the ICUMO Shareholders transferred all the issued and outstanding shares of common stock of ICUMO to the Company in exchange for <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20230123__20230123__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zZu3SsZEo5z9" title="Number of shares issued">182,240,000</span> shares of the Company’s common stock, par value $<span id="xdx_909_eus-gaap--EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased_c20230123__20230123__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_z3NrnTOm22cl" title="Common stock, par value">0.001</span> per share. As a result of this share exchange (the “Exchange”), ICUMO became a wholly owned subsidiary of the Company. See Note 7. For financial reporting purposes, the acquisition of ICUMO and the change of control in connection with the acquisition represented a “reverse merger” and ICUMO is deemed to be the accounting acquirer in the transaction. ICUMO is the acquirer for financial reporting purposes, and the Company is the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the acquisition are those of ICUMO.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company continues to be a “smaller reporting company,” as defined under the Exchange Act of 1934, as amended (the “Exchange Act”) following the Exchange, however, as a result of the Exchange, the Company has ceased to be a “shell company” (as such term is defined in Rule 12b-2 under the Exchange Act).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ICUMO Background</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ICUMO is an exploration and development company with mineral right interests in the United States of America. ICUMO was originally incorporated under the laws of Nevada in 2005, as Mosquito Mining Corp. In 2013, the Company was moved to Idaho and the name changed to Idaho CuMo Mining Corporation. In early February 2023 the name was changed to Idaho Copper Corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is in the process of exploring its mineral rights interests in the United States and at the date of these consolidated financial statements, has not yet determined whether any of its mineral properties contain economically recoverable mineral reserves. Accordingly, the carrying amount of mineral right interests represents cumulative expenditures incurred to date and does not necessarily reflect present or future values. The recovery of these costs is dependent upon the discovery of economically recoverable mineral reserves and the ability of the Company to obtain the necessary financing to complete their exploration and development and to resolve any environmental, regulatory, or other constraints. Uncertainty also exists with respect to the recoverability of the carrying value of certain mineral rights interests. The ability of the Company to realize its investment in resource properties is contingent upon the resolution of the uncertainties and confirmation of the Company’s title to the mineral properties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1005010 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1044266 usd
CY2024Q2 COPR Working Capital Deficit
WorkingCapitalDeficit
440301 usd
CY2024Q2 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_z4jvLXLSaSFe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zhLR7nqBTF0k">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q2 us-gaap Cash
Cash
0 usd
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
162 shares
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
23 shares
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
23 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
405305 usd
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
247017097 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
247017097 shares
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
22646000 shares
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
6566000 shares
CY2024Q2 us-gaap Longterm Transition Bond Current And Noncurrent
LongtermTransitionBondCurrentAndNoncurrent
3135000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodIntrinsicValue
0.125
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3385000 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
162 shares
CY2023Q1 us-gaap Share Price
SharePrice
0.125
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2027-12-31
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
189248 usd
CY2024Q2 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
568000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
The remaining vesting milestones required to be met are (1) obtaining an updated PEA, (2) an uplist of the Company’s common stock to a national exchange and (3) the successful raising of $5 million or more in new capital. Each of these milestones vest an additional 20% of the options upon being met and were estimated to have a 50% probability of being met as of January 31, 2024. Management reviews the estimate of meeting each probability as well as the related timing at each reporting period.
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2614783 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.15
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1093479 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.23
CY2024Q1 us-gaap Payments To Acquire Leases Held For Investment
PaymentsToAcquireLeasesHeldForInvestment
100000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y29D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2024Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P13M
CY2024Q2 us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P3Y
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
43200 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
43200 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2754 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
40446 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
65535 usd
CY2021 us-gaap Payments For Rent
PaymentsForRent
68409 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
65535 usd
CY2021 us-gaap Payments For Rent
PaymentsForRent
68409 usd
CY2024Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
615083 usd
CY2024Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
751916 usd
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05 pure
CY2024Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-175461 usd
CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-285980 usd
CY2024Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-41776 usd
CY2024 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-68090 usd
CY2024Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
217237 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
354070 usd
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
615083 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
397846 usd
CY2024Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
615083 usd
CY2024Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
397846 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
615083 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
397846 usd
CY2024Q2 us-gaap Valuation Allowance Deferred Tax Asset Explanation Of Change
ValuationAllowanceDeferredTaxAssetExplanationOfChange
Company, the net deferred tax assets for 2023 were fully offset by a 100% valuation allowance.
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
615083 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
397846 usd

Files In Submission

Name View Source Status
0001493152-24-022274-index-headers.html Edgar Link pending
0001493152-24-022274-index.html Edgar Link pending
0001493152-24-022274.txt Edgar Link pending
0001493152-24-022274-xbrl.zip Edgar Link pending
copr-20240430.xsd Edgar Link pending
ex10-15.htm Edgar Link pending
ex10-15_001.jpg Edgar Link pending
ex10-15_002.jpg Edgar Link pending
ex10-15_003.jpg Edgar Link pending
ex10-15_004.jpg Edgar Link pending
ex10-15_005.jpg Edgar Link pending
ex10-15_006.jpg Edgar Link pending
ex10-15_007.jpg Edgar Link pending
ex10-15_008.jpg Edgar Link pending
ex10-15_009.jpg Edgar Link pending
ex10-15_010.jpg Edgar Link pending
ex10-15_011.jpg Edgar Link pending
ex10-15_012.jpg Edgar Link pending
ex10-15_013.jpg Edgar Link pending
ex10-15_014.jpg Edgar Link pending
ex10-15_015.jpg Edgar Link pending
ex10-15_016.jpg Edgar Link pending
ex10-15_017.jpg Edgar Link pending
ex10-15_018.jpg Edgar Link pending
ex10-15_019.jpg Edgar Link pending
ex10-15_020.jpg Edgar Link pending
ex10-15_021.jpg Edgar Link pending
ex10-15_022.jpg Edgar Link pending
ex10-15_023.jpg Edgar Link pending
ex10-15_024.jpg Edgar Link pending
ex10-15_025.jpg Edgar Link pending
ex10-15_026.jpg Edgar Link pending
copr-20240430_cal.xml Edgar Link unprocessable
copr-20240430_def.xml Edgar Link unprocessable
copr-20240430_pre.xml Edgar Link unprocessable
copr-20240430_lab.xml Edgar Link unprocessable
ex10-15_027.jpg Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
form10-q_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
form10-q_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable