$IMII
INCEPTION MINING INC.

2024 Q2 Form 10-K Financial Statement

#000109690624001010 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $136.4K $102.2K
YoY Change -28.95% -86.28%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.00 $190.00 $725.00
YoY Change 0.0% -73.97% 0.0%
% of Gross Profit
Operating Expenses $136.6K $102.4K $1.067M
YoY Change -28.92% -86.27% 43.01%
Operating Profit -$136.6K -$1.067M
YoY Change -28.92% 43.01%
Interest Expense $294.7K $15.06K $277.7K
YoY Change 1360.26% -100.74% -90.36%
% of Operating Profit
Other Income/Expense, Net -$365.9K -$2.219M $7.089M
YoY Change -184.09% -409.97%
Pretax Income -$502.5K -$2.313M $6.023M
YoY Change -306.85% -23.75% -298.58%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$502.5K -$2.237M $12.74M
YoY Change -306.85% -46.06% -407.25%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 2.639B shares 2.639B shares 2.331B shares
Diluted Shares Outstanding 2.639B shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Cash & Equivalents $2.00 $2.00 $0.00
Short-Term Investments
Other Short-Term Assets $0.00 $10.00K $10.00K
YoY Change -100.0% -96.7% -96.7%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.00 $10.00K $10.00K
YoY Change -100.0% -96.7% -96.7%
LONG-TERM ASSETS
Property, Plant & Equipment $2.896K $3.258K $12.85K
YoY Change -20.07% -18.2% -52.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $531.00 $531.00 $530.00
YoY Change 0.0% 0.0% -99.94%
Total Long-Term Assets $6.020K $13.38K $13.39K
YoY Change -99.52% -98.43% -98.43%
TOTAL ASSETS
Total Short-Term Assets $2.00 $10.00K $10.00K
Total Long-Term Assets $6.020K $13.38K $13.39K
Total Assets $6.022K $23.39K $23.39K
YoY Change -99.76% -97.97% -97.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $408.3K $348.9K $348.9K
YoY Change 52.76% 173.41% 173.41%
Accrued Expenses $936.8K $913.9K $992.7K
YoY Change 264.92% -78.35% -93.75%
Deferred Revenue
YoY Change
Short-Term Debt $919.7K $32.90K $32.90K
YoY Change 5374.64% -98.78% -98.78%
Long-Term Debt Due $363.1K $162.5K $162.5K
YoY Change 358.9% -95.72% -95.72%
Total Short-Term Liabilities $3.187M $1.576M $1.576M
YoY Change 137.15% -94.58% -94.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $868.6K $868.6K
YoY Change -100.0% -84.03% -84.03%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $868.6K $868.6K
YoY Change -100.0% -86.03% -86.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.187M $1.576M $1.576M
Total Long-Term Liabilities $0.00 $868.6K $868.6K
Total Liabilities $3.187M $2.445M $2.445M
YoY Change 40.08% -93.07% -93.07%
SHAREHOLDERS EQUITY
Retained Earnings -$29.67M -$28.91M
YoY Change 13.5% -30.59%
Common Stock $26.39K $26.39K
YoY Change 6.33% 978.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.181M -$2.422M -$2.422M
YoY Change
Total Liabilities & Shareholders Equity $6.022K $23.39K $23.39K
YoY Change -99.76% -97.97% -97.97%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$502.5K -$2.237M $12.74M
YoY Change -306.85% -46.06% -407.25%
Depreciation, Depletion And Amortization $180.00 $190.00 $725.00
YoY Change 0.0% -73.97% 0.0%
Cash From Operating Activities -$26.33K -$16.29K $1.243M
YoY Change 276.68% -96.97% -237.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$650.00
YoY Change -100.0% -98.69%
Cash From Investing Activities $0.00 $0.00 -$652.00
YoY Change -100.0% -98.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.32K -24.33K -1.243M
YoY Change -245.74% -104.52% -238.2%
NET CHANGE
Cash From Operating Activities -26.33K -16.29K $1.243M
Cash From Investing Activities 0.000 0.000 -$652.00
Cash From Financing Activities 26.32K -24.33K -1.243M
Net Change In Cash -10.00 -40.62K $2.00
YoY Change -99.96% -31346.15% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$26.33K -$16.29K $1.243M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001416090
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
51 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
51 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
51 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10300000000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
244634016 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2638874873 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023Q4 form Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
32895 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 integer
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
000-55219
CY2023 dei Entity Registrant Name
EntityRegistrantName
Inception Mining Inc.
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
35-2302128
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
5530 South 900 East
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 280
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
Murray
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
UT
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
84117
CY2023 dei City Area Code
CityAreaCode
801
CY2023 dei Local Phone Number
LocalPhoneNumber
312 - 8113
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
249915 usd
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
2638874873 shares
CY2023 dei Auditor Firm
AuditorFirmId
3627
CY2023 dei Auditor Name
AuditorName
Sadler, Gibb & Associates, LLC
CY2023 dei Auditor Location
AuditorLocation
Draper, UT
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2717 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 usd
CY2022Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
300132 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
10002 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
302849 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3258 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3983 usd
CY2023Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
0 usd
CY2022Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
0 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9595 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23106 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
531 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
531 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
0 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
822934 usd
CY2023Q4 us-gaap Assets
Assets
23386 usd
CY2022Q4 us-gaap Assets
Assets
1153403 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1332038 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5081544 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
0 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
10907642 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9595 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13511 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
125000 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2023 form Gain On Forgiveness Of Loan
GainOnForgivenessOfLoan
0 usd
CY2022Q4 form Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
2695964 usd
CY2023Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
37540 usd
CY2022Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
3801698 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
39281 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
3262612 usd
CY2023Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 usd
CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3305227 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1576349 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
29068198 usd
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
0 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
60000 usd
CY2023Q4 form Long Term Notes Payable Related Parties Net Of Current And Noncurrent
LongTermNotesPayableRelatedPartiesNetOfCurrentAndNoncurrent
868618 usd
CY2022Q4 form Long Term Notes Payable Related Parties Net Of Current And Noncurrent
LongTermNotesPayableRelatedPartiesNetOfCurrentAndNoncurrent
5378980 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9595 usd
CY2023Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
0 usd
CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
767673 usd
CY2023Q4 us-gaap Liabilities
Liabilities
2444967 usd
CY2022Q4 us-gaap Liabilities
Liabilities
35284446 usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
51 shares
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
1 usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
1 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10300000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2638874873 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
244634016 shares
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
26389 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
2446 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
26465611 usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
8152715 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-28913582 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-41655570 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
0 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-618683 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-2421581 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-34119091 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
0 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
-11952 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2421581 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-34131043 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
23386 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1153403 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1065893 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
745131 usd
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
725 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
725 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
1066618 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
745856 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-1066618 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-745856 usd
CY2022 form Gain On Forgiveness Of Loan
GainOnForgivenessOfLoan
31667 usd
CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3273396 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
833278 usd
CY2023 form Bad Debt Expense On Note Receivable
BadDebtExpenseOnNoteReceivable
2219442 usd
CY2022 form Bad Debt Expense On Note Receivable
BadDebtExpenseOnNoteReceivable
0 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
6313102 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-271511 usd
CY2023 us-gaap Interest Expense
InterestExpense
277651 usd
CY2022 us-gaap Interest Expense
InterestExpense
2880542 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
7089405 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2287108 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6022787 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3032964 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
6022787 usd
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3032964 usd
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-497581 usd
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-973303 usd
CY2023 form Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
7230453 usd
CY2022 form Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
0 usd
CY2023 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 usd
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
142582 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
6732872 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1115885 usd
CY2023 us-gaap Profit Loss
ProfitLoss
12755659 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-4148849 usd
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
13671 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1708 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
12741988 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-4147141 usd
CY2023 form Income Loss From Continuing Operations Per Basic Share And Diluted
IncomeLossFromContinuingOperationsPerBasicShareAndDiluted
0.00
CY2022 form Income Loss From Continuing Operations Per Basic Share And Diluted
IncomeLossFromContinuingOperationsPerBasicShareAndDiluted
-0.01
CY2023 form Net Income Loss Per Share Discontinued Operations Basic And Diluted
NetIncomeLossPerShareDiscontinuedOperationsBasicAndDiluted
0.00
CY2022 form Net Income Loss Per Share Discontinued Operations Basic And Diluted
NetIncomeLossPerShareDiscontinuedOperationsBasicAndDiluted
-0.01
CY2023 form Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
0.01
CY2022 form Net Income Loss Per Share Basic
NetIncomeLossPerShareBasic
-0.02
CY2023 form Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
0.00
CY2022 form Net Income Loss Per Share Diluted
NetIncomeLossPerShareDiluted
-0.02
CY2023 form Weighted Average Number Of Shares Outstanding During The Period Basic
WeightedAverageNumberOfSharesOutstandingDuringThePeriodBasic
2330753561 shares
CY2022 form Weighted Average Number Of Shares Outstanding During The Period Basic
WeightedAverageNumberOfSharesOutstandingDuringThePeriodBasic
215083605 shares
CY2023 form Weighted Average Number Of Shares Outstanding During The Period Diluted
WeightedAverageNumberOfSharesOutstandingDuringThePeriodDiluted
432626745587 shares
CY2022 form Weighted Average Number Of Shares Outstanding During The Period Diluted
WeightedAverageNumberOfSharesOutstandingDuringThePeriodDiluted
215083605 shares
CY2023 form Profit Loss From Opration
ProfitLossFromOpration
12755659 usd
CY2022 form Profit Loss From Opration
ProfitLossFromOpration
-4148849 usd
CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
12669187 usd
CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-4127583 usd
CY2023 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 usd
CY2022 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-51 usd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4127532 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-30275558 usd
CY2022 form Shares Issued With Note Payable Amount
SharesIssuedWithNotePayableAmount
272098 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
21266 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-4148849 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-34131043 usd
CY2023 form Shares Issued For Services Amount
SharesIssuedForServicesAmount
279429 usd
CY2023 form Shares Issued With Extinguishment Of Debt Amount
SharesIssuedWithExtinguishmentOfDebtAmount
18057410 usd
CY2023 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
703436 usd
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-86472 usd
CY2023 us-gaap Profit Loss
ProfitLoss
12755659 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2421581 usd
CY2023 us-gaap Profit Loss
ProfitLoss
12755659 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-4148849 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
497581 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1115885 usd
CY2023 form Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
7230453 usd
CY2022 form Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
0 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
725 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
725 usd
CY2023 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
279429 usd
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
0 usd
CY2023 form Allowance For Doubtful Note Receivable
AllowanceForDoubtfulNoteReceivable
2219442 usd
CY2022 form Allowance For Doubtful Note Receivable
AllowanceForDoubtfulNoteReceivable
0 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
6313102 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-271511 usd
CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3273396 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
833278 usd
CY2023 form Gain On Forgiveness Of Loan
GainOnForgivenessOfLoan
0 usd
CY2022 form Gain On Forgiveness Of Loan
GainOnForgivenessOfLoan
31667 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
13511 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
0 usd
CY2023 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
77032 usd
CY2022 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
13688 usd
CY2023 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
3556358 usd
CY2022 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7283 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7633 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
30888 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1595759 usd
CY2023 form Increase Decrease Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseAccountsPayableAndAccruedLiabilitiesRelatedParties
-1363250 usd
CY2022 form Increase Decrease Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseAccountsPayableAndAccruedLiabilitiesRelatedParties
699686 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1243141 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1308907 usd
CY2023 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-466 usd
CY2022 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
406485 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1242675 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-902422 usd
CY2023 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-652 usd
CY2022 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-49666 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-652 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49666 usd
CY2023 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
37891 usd
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
39000 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
473900 usd
CY2023 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1343429 usd
CY2022 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
11620 usd
CY2023 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
39303 usd
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
996210 usd
CY2023 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
100000 usd
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
100000 usd
CY2023 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 usd
CY2022 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
326744 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1243126 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
899543 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1105 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-152 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52697 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55273 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2576 usd
CY2023 form Cash Of Discontinued Operations
CashOfDiscontinuedOperations
0 usd
CY2022 form Cash Of Discontinued Operations
CashOfDiscontinuedOperations
-2576 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
157494 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
218206 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023 form Note Receivable Acquired For Sale Of Mine Property
NoteReceivableAcquiredForSaleOfMineProperty
2700000 usd
CY2022 form Note Receivable Acquired For Sale Of Mine Property
NoteReceivableAcquiredForSaleOfMineProperty
0 usd
CY2023 form Common Stock Issued For Conversion Of Debt
CommonStockIssuedForConversionOfDebt
0 usd
CY2022 form Common Stock Issued For Conversion Of Debt
CommonStockIssuedForConversionOfDebt
272098 usd
CY2023 form Inventory Used To Satisfy Note Payable
InventoryUsedToSatisfyNotePayable
0 usd
CY2022 form Inventory Used To Satisfy Note Payable
InventoryUsedToSatisfyNotePayable
160000 usd
CY2023 form Common Stock Issued For Settlement Of Notes Payable Related Parties
CommonStockIssuedForSettlementOfNotesPayableRelatedParties
18057410 usd
CY2022 form Common Stock Issued For Settlement Of Notes Payable Related Parties
CommonStockIssuedForSettlementOfNotesPayableRelatedParties
0 usd
CY2023 form Recognition Of Debt Discounts On Convertible Notes Payable
RecognitionOfDebtDiscountsOnConvertibleNotesPayable
66615 usd
CY2022 form Recognition Of Debt Discounts On Convertible Notes Payable
RecognitionOfDebtDiscountsOnConvertibleNotesPayable
63440 usd
CY2023 form Note Payable Issued To Finance Lease Payments
NotePayableIssuedToFinanceLeasePayments
0 usd
CY2022 form Note Payable Issued To Finance Lease Payments
NotePayableIssuedToFinanceLeasePayments
29830 usd
CY2023 form Finance Leases To Acquire Equipment
FinanceLeasesToAcquireEquipment
0 usd
CY2022 form Finance Leases To Acquire Equipment
FinanceLeasesToAcquireEquipment
273487 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1.</strong> <strong>Nature of Business</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Inception Mining, Inc. (formerly known as Gold American Mining Corp.) was incorporated under the name of Golf Alliance Corporation and under the laws of the State of Nevada on July 2, 2007. Inception Mining, Inc. is a precious metal mineral acquisition, exploration and development company. Inception Development, Inc., its wholly owned subsidiary, was incorporated under the laws of the State of Idaho on January 28, 2013.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Golf Alliance Corporation pursued its original business plan to provide opportunities for golfers to play on private golf courses normally closed to them due to the membership requirements of the private clubs. During the year ended July 31, 2010, the Company decided to redirect its business focus toward precious metal mineral acquisition and exploration.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On March 5, 2010, the Company amended its articles of incorporation to (1) to change its name to Silver America, Inc. and (2) increased its authorized common stock from 100,000,000 to 500,000,000.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On June 23, 2010, the Company amended its articles of incorporation to change its name to Gold American Mining Corp.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On November 21, 2012, the Company implemented a 200 to 1 reverse stock split. Upon effectiveness of the stock split, each shareholder cancelled 200 shares of common stock for every share of common stock owned as of November 21, 2012. This reverse stock split was effective on February 13, 2013. All share and per share references have been retroactively adjusted to reflect this 200 to 1 reverse stock split in the financial statements and in the notes to financial statements for all periods presented, to reflect the stock split as if it occurred on the first day of the first period presented.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On February 25, 2013, Gold American Mining Corp. and its majority shareholder (the “Majority Shareholder”), and its wholly-owned subsidiary, Inception Development Inc. (the “Subsidiary”), entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Inception Resources, LLC, a Utah corporation (“Inception Resources”), pursuant to which Inception purchased the U.P. and Burlington Gold Mine in consideration of 16,000,000 shares of common stock of Inception, the assumption of promissory notes in the amount of $950,000 and the assignment of a 3% net royalty. Inception Resources was an entity owned by and under the control of the majority shareholder. This transaction is deemed an asset purchase by entities under common control. The Asset Purchase Agreement closed on February 25, 2013 (the “Closing”). Inception was a “shell company” (as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) immediately prior to our acquisition of the gold mine pursuant to the terms of the Asset Purchase Agreement.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 17, 2013, the Company amended its articles of incorporation to change its name to Inception Mining, Inc. (“Inception” or the “Company”).</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On October 2, 2015, the Company consummated a merger with Clavo Rico Ltd. (“Clavo Rico”). Clavo Rico is a privately held Turks and Caicos company with principal operations in Honduras, Central America. Clavo Rico operates the Clavo Rico mining concession through its subsidiaries Compañía Minera Cerros del Sur, S.A de C.V. and Compañía Minera Clavo Rico, S.A. de C.V. and holds other mining concessions. Pursuant to the agreement, the Company issued of 240,225,901 shares of common stock of Inception and assumed promissory notes in the amount of $5,488,980 and accrued interest of $3,434,426. Under this merger agreement, there was a change in control and it has been treated for accounting purposes as a reverse recapitalization with Clavo Rico, Ltd. being the surviving entity. Its workings include several historical underground operations dating back to the early Mayan and Spanish occupation.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">  </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On January 11, 2016, the Company implemented a 5.5 to 1 reverse stock split. This reverse stock split was effective on May 26, 2016. All share and per share references have been retroactively adjusted to reflect this 5.5 to 1 reverse stock split in the financial statements and in the notes to financial statements for all periods presented, to reflect the stock split as if it occurred on the first day of the first period presented. Immediately before the Reverse Split, the Company had 266,669,980 shares of common stock outstanding. Immediately after the Reverse Split, the Company had 48,485,451 shares of common stock outstanding, pending fractional-share rounding-up calculations to adjust for the Reverse Split.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On January 12, 2023, Inception Mining, Inc. (the “<span style="text-decoration:underline">Company</span>”) entered into a non-binding Letter of Intent (the “LOI”) with Mother Lode Mining, Inc. (“MLM”). The LOI became binding on January 24, 2023.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Pursuant to the terms of the LOI, the Company agreed to sell all of the shares of its wholly-owned subsidiary, Compañía Minera Cerros Del Sur, S.A. de C.V. (“CMCS”), to MLM. CMCS is the Honduran-based company that owns the Clavo Rico mine.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Since the Divestiture of the Clavo Rico Mine, the Company has been operating as a consultant and advisor to the mining industry, including to Mother Lode Mining, the new owner of the Clavo Rico mine. It also has an ongoing financial interest in the Clavo Rico Mine under the LOI.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>COVID-19 </strong>– The Company has been impacted significantly by the COVID-19 global pandemic. In response to COVID-19, national and local governments around the world have instituted certain measures, including travel bans, prohibitions on group events and gatherings, shutdowns of certain businesses, curfews, shelter-in-place orders, and recommendations to practice social distancing. Based on management’s assessment as of December 31, 2023, the ultimate impact of COVID-19 on the Company’s business, results of operations, financial condition and cash flows is dependent on future developments, including the duration of the pandemic and the related length of its impact on the global economy, which are uncertain and cannot be predicted at this time.</p>
CY2010Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2010Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2012Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
200 to 1 reverse stock split
CY2012Q4 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
Upon effectiveness of the stock split, each shareholder cancelled 200 shares of common stock for every share of common stock owned as of November 21, 2012
CY2016Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
5.5 to 1 reverse stock split
CY2023 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
5.5 to 1 reverse stock split
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-28913582 usd
CY2023Q4 form Working Capital Deficit
WorkingCapitalDeficit
1566347 usd
CY2023 us-gaap Payments For Operating Activities
PaymentsForOperatingActivities
1242675 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Use of Estimates –</strong> In preparing financial statements in conformity with generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenditures during the reported periods. Actual results could differ materially from those estimates. Estimates may include those pertaining to valuation of inventories and mineralized material on leach pads, the estimated useful lives and valuation of properties, plant and equipment, mineral rights and properties, deferred tax assets, convertible preferred stock, derivative assets and liabilities, reclamation liabilities, stock-based compensation and payments, and contingent liabilities.</p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 form Warrant Liabilities
WarrantLiabilities
0 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
39281 usd
CY2023Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
39281 usd
CY2022Q4 form Warrant Liabilities
WarrantLiabilities
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
3262612 usd
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
3262612 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
430296172574 shares
CY2023 form Net Income Loss Controlling Interest
NetIncomeLossControllingInterest
12741988 usd
CY2022 form Net Income Loss Controlling Interest
NetIncomeLossControllingInterest
-4147141 usd
CY2023 form Gains Losses On Extinguishment Of Debts
GainsLossesOnExtinguishmentOfDebts
6313102 usd
CY2022 form Gains Losses On Extinguishment Of Debts
GainsLossesOnExtinguishmentOfDebts
0 usd
CY2023 us-gaap Interest Expense Other
InterestExpenseOther
72790 usd
CY2022 us-gaap Interest Expense Other
InterestExpenseOther
0 usd
CY2023 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-3220312 usd
CY2022 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
0 usd
CY2023 form Adjusted Net Loss Controlling Interest
AdjustedNetLossControllingInterest
3281364 usd
CY2022 form Adjusted Net Loss Controlling Interest
AdjustedNetLossControllingInterest
-4147141 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2330753561 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215083605 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
430295992026 shares
CY2023 form Diluted Weighted Average Number Of Shares Outstanding During Period
DilutedWeightedAverageNumberOfSharesOutstandingDuringPeriod
432626745587 shares
CY2022 form Diluted Weighted Average Number Of Shares Outstanding During Period
DilutedWeightedAverageNumberOfSharesOutstandingDuringPeriod
215083605 shares
CY2023 form Diluted Net Loss Per Share
DilutedNetLossPerShare
0.00
CY2022 form Diluted Net Loss Per Share
DilutedNetLossPerShare
-0.02
CY2023 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Derivative Liabilities –</strong> Derivatives liabilities are recorded at fair value when issued and the subsequent change in fair value each period is recorded in other income (expense) in the consolidated statements of operations. We do not hold or issue any derivative financial instruments for speculative trading purposes.</p>
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9595 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23106 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9595 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13511 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9595 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9595 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23106 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10505 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10505 usd
CY2023Q4 form Imputed Interest Present Value Discount
ImputedInterestPresentValueDiscount
-910 usd
CY2023Q4 form Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
9595 usd
CY2023 us-gaap Payments For Rent
PaymentsForRent
15772 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
15252 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
15772 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
15252 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
39281 usd
CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3273396 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2219442 usd
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
2219442 usd
CY2022Q4 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
0 usd
CY2023Q4 form Less Payments Received Allowance For Doubtful Accounts Receivable Noncurrent
LessPaymentsReceivedAllowanceForDoubtfulAccountsReceivableNoncurrent
480558 usd
CY2023Q4 form Note Receivable Outstanding Gross Amount
NoteReceivableOutstandingGrossAmount
2219442 usd
CY2022Q4 form Note Receivable Outstanding Gross Amount
NoteReceivableOutstandingGrossAmount
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2219442 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q4 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
0 usd
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
25368 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
25368 usd
CY2023Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
1627 usd
CY2022Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
1627 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26995 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26995 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23737 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
23012 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3258 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3983 usd
CY2023 us-gaap Depreciation
Depreciation
725 usd
CY2022 us-gaap Depreciation
Depreciation
725 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
348902 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
127612 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
913887 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4221586 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
69249 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
732346 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1332038 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5081544 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
125000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
60000 usd
CY2023Q4 form Less Shortterm Notes Payable
LessShorttermNotesPayable
125000 usd
CY2022Q4 form Less Shortterm Notes Payable
LessShorttermNotesPayable
0 usd
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
0 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
60000 usd
CY2023 form Income Tax Paid Net
IncomeTaxPaidNet
109904 usd
CY2023 form Accrued Estimated Income Tax
AccruedEstimatedIncomeTax
13973 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3316471 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1041630 usd
CY2023 form Income Tax Reconciliation Meals And Entertainment
IncomeTaxReconciliationMealsAndEntertainment
-362 usd
CY2022 form Income Tax Reconciliation Meals And Entertainment
IncomeTaxReconciliationMealsAndEntertainment
-280 usd
CY2023 form Income Tax Reconciliation Change In Derivative Liability
IncomeTaxReconciliationChangeInDerivativeLiability
-851083 usd
CY2022 form Income Tax Reconciliation Change In Derivative Liability
IncomeTaxReconciliationChangeInDerivativeLiability
-216652 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
-20028 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
-3559 usd
CY2023 form Income Tax Reconciliation Accured Interest
IncomeTaxReconciliationAccuredInterest
-11212 usd
CY2022 form Income Tax Reconciliation Accured Interest
IncomeTaxReconciliationAccuredInterest
723448 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-2456210 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
681255 usd
CY2023 form Income Tax Provision
IncomeTaxProvision
0 usd
CY2022 form Income Tax Provision
IncomeTaxProvision
142582 usd
CY2023Q4 form Deferred Tax Assets Operatings Loss Carryforwards
DeferredTaxAssetsOperatingsLossCarryforwards
-4320740 usd
CY2022Q4 form Deferred Tax Assets Operatings Loss Carryforwards
DeferredTaxAssetsOperatingsLossCarryforwards
851301 usd
CY2023Q4 form Deferred Tax Assets Depreciation
DeferredTaxAssetsDepreciation
217362 usd
CY2022Q4 form Deferred Tax Assets Depreciation
DeferredTaxAssetsDepreciation
217362 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
11213 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
723448 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4526890 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1792111 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1872892 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
11318460 usd
CY2023 form Income Tax Reconciliation Income Tax Expense Benefit Federal Tax Amount
IncomeTaxReconciliationIncomeTaxExpenseBenefitFederalTaxAmount
1710000 usd
CY2023 form Income Tax Reconciliation Income Tax Expense Benefit Annual Limitation Amount
IncomeTaxReconciliationIncomeTaxExpenseBenefitAnnualLimitationAmount
17000 usd
CY2022Q4 form Operating Loss Carryforwards Unutilized Amount
OperatingLossCarryforwardsUnutilizedAmount
1400000 usd
CY2023 form Operating Loss Carryforwards Expiration Date1
OperatingLossCarryforwardsExpirationDate1
2043
CY2023 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
256674 usd
CY2023Q3 form Consulting Fees
ConsultingFees
200000 usd
CY2023 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
7230453 usd

Files In Submission

Name View Source Status
0001096906-24-001010-index-headers.html Edgar Link pending
0001096906-24-001010-index.html Edgar Link pending
0001096906-24-001010.txt Edgar Link pending
0001096906-24-001010-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form-20231231.xsd Edgar Link pending
form_10k.htm Edgar Link pending
form_ex311.htm Edgar Link pending
form_ex312.htm Edgar Link pending
form_ex321.htm Edgar Link pending
form_ex322.htm 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
form-20231231_cal.xml Edgar Link unprocessable
form-20231231_def.xml Edgar Link unprocessable
form-20231231_lab.xml Edgar Link unprocessable
form-20231231_pre.xml Edgar Link unprocessable
form_10k_htm.xml Edgar Link completed
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
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.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
FilingSummary.xml Edgar Link unprocessable