$IMII
INCEPTION MINING INC.

2024 Q4 Form 10-Q Financial Statement

#000109690624001993 Filed on October 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $136.4K
YoY Change -28.95%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.00
YoY Change 0.0%
% of Gross Profit
Operating Expenses $136.6K
YoY Change -28.92%
Operating Profit -$136.6K
YoY Change -28.92%
Interest Expense $294.7K
YoY Change 1360.26%
% of Operating Profit
Other Income/Expense, Net -$365.9K
YoY Change -184.09%
Pretax Income -$502.5K
YoY Change -306.85%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$502.5K
YoY Change -306.85%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 2.660B shares 2.639B shares
Diluted Shares Outstanding 2.639B shares

Balance Sheet

Concept 2024 Q4 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $2.00
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.00
YoY Change -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment $2.896K
YoY Change -20.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $531.00
YoY Change 0.0%
Total Long-Term Assets $6.020K
YoY Change -99.52%
TOTAL ASSETS
Total Short-Term Assets $2.00
Total Long-Term Assets $6.020K
Total Assets $6.022K
YoY Change -99.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $408.3K
YoY Change 52.76%
Accrued Expenses $936.8K
YoY Change 264.92%
Deferred Revenue
YoY Change
Short-Term Debt $919.7K
YoY Change 5374.64%
Long-Term Debt Due $363.1K
YoY Change 358.9%
Total Short-Term Liabilities $3.187M
YoY Change 137.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.187M
Total Long-Term Liabilities $0.00
Total Liabilities $3.187M
YoY Change 40.08%
SHAREHOLDERS EQUITY
Retained Earnings -$29.67M
YoY Change 13.5%
Common Stock $26.39K
YoY Change 6.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.181M
YoY Change
Total Liabilities & Shareholders Equity $6.022K
YoY Change -99.76%

Cashflow Statement

Concept 2024 Q4 2024 Q2
OPERATING ACTIVITIES
Net Income -$502.5K
YoY Change -306.85%
Depreciation, Depletion And Amortization $180.00
YoY Change 0.0%
Cash From Operating Activities -$26.33K
YoY Change 276.68%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
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 26.32K
YoY Change -245.74%
NET CHANGE
Cash From Operating Activities -26.33K
Cash From Investing Activities 0.000
Cash From Financing Activities 26.32K
Net Change In Cash -10.00
YoY Change -99.96%
FREE CASH FLOW
Cash From Operating Activities -$26.33K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity File Number
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dei Entity Registrant Name
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Inception Mining Inc.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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CY2023Q2 imii Other Comprehensive Income Loss Tax Portion Attributable To Controlling Interest
OtherComprehensiveIncomeLossTaxPortionAttributableToControllingInterest
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imii Other Comprehensive Income Loss Tax Portion Attributable To Controlling Interest
OtherComprehensiveIncomeLossTaxPortionAttributableToControllingInterest
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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ProfitLoss
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StockholdersEquity
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StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2023Q1 imii Shares Issued With Extinguishment Of Debt Amount
SharesIssuedWithExtinguishmentOfDebtAmount
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CY2023Q1 imii Effects Of Sale Of Mine Property
EffectsOfSaleOfMineProperty
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CY2023Q1 imii Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
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CY2023Q1 us-gaap Profit Loss
ProfitLoss
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-50650 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
242945 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
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us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
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imii Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
0 usd
imii Gain On Sale Of Mine Property In Discontinued Operations
GainOnSaleOfMinePropertyInDiscontinuedOperations
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
362 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
360 usd
imii Common Stock Issued For Services
CommonStockIssuedForServices
0 usd
imii Common Stock Issued For Services
CommonStockIssuedForServices
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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GainsLossesOnExtinguishmentOfDebt
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imii Change In Derivative Liability
ChangeInDerivativeLiability
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imii Change In Derivative Liability
ChangeInDerivativeLiability
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imii Default Penalty Additions
DefaultPenaltyAdditions
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imii Default Penalty Additions
DefaultPenaltyAdditions
0 usd
imii Expenses Paid In Behalf Of The Company By Related Party
ExpensesPaidInBehalfOfTheCompanyByRelatedParty
10300 usd
imii Expenses Paid In Behalf Of The Company By Related Party
ExpensesPaidInBehalfOfTheCompanyByRelatedParty
0 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
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7002 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
219961 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
31459 usd
imii Adjustment For Initial Derivative Expense
AdjustmentForInitialDerivativeExpense
193582 usd
imii Adjustment For Initial Derivative Expense
AdjustmentForInitialDerivativeExpense
0 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-3105000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-10000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
214091 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2899 usd
imii Increase Decrease Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseAccountsPayableAndAccruedLiabilitiesRelatedParties
5216 usd
imii Increase Decrease Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseAccountsPayableAndAccruedLiabilitiesRelatedParties
-1278250 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-59141 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1298246 usd
us-gaap Net Cash Provided By Used In Discontinued Operations
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0 usd
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NetCashProvidedByUsedInDiscontinuedOperations
-466 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
98475 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
39000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
98784 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1281340 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
106400 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
23208 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
150000 usd
us-gaap Proceeds From Notes Payable
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0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
59141 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
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
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1101 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
0 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1101 usd
us-gaap Interest Paid Net
InterestPaidNet
11074 usd
us-gaap Interest Paid Net
InterestPaidNet
146248 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
imii Note Receivable Acquired For Sale Of Mine Property
NoteReceivableAcquiredForSaleOfMineProperty
0 usd
imii Note Receivable Acquired For Sale Of Mine Property
NoteReceivableAcquiredForSaleOfMineProperty
5700000 usd
imii Common Stock Issued For Settlement Of Notes Payable Related Parties
CommonStockIssuedForSettlementOfNotesPayableRelatedParties
0 usd
imii Common Stock Issued For Settlement Of Notes Payable Related Parties
CommonStockIssuedForSettlementOfNotesPayableRelatedParties
18057410 usd
imii Recognition Of Debt Discounts On Convertible Note Payable
RecognitionOfDebtDiscountsOnConvertibleNotePayable
179800 usd
imii Recognition Of Debt Discounts On Convertible Note Payable
RecognitionOfDebtDiscountsOnConvertibleNotePayable
0 usd
imii Accumulated Loss
AccumulatedLoss
-29673091 usd
CY2023Q2 imii Basic Weighted Average Number Of Shares Outstanding During Period Dilutive Shares
BasicWeightedAverageNumberOfSharesOutstandingDuringPeriodDilutiveShares
124847689 shares
us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Derivative Liabilities -</strong> Derivative 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>
imii Gain From Change In Fair Value Of Debt Derivatives
GainFromChangeInFairValueOfDebtDerivatives
49036 usd
imii Adjustment For Initial Derivative Expense
AdjustmentForInitialDerivativeExpense
193582 usd
CY2024Q2 imii Less Payments Received Allowance For Doubtful Accounts Receivable Noncurrent
LessPaymentsReceivedAllowanceForDoubtfulAccountsReceivableNoncurrent
0 usd
CY2023Q4 imii Less Payments Received Allowance For Doubtful Accounts Receivable Noncurrent
LessPaymentsReceivedAllowanceForDoubtfulAccountsReceivableNoncurrent
480558 usd
CY2024Q2 imii Note Receivable Outstanding Gross Amount
NoteReceivableOutstandingGrossAmount
2219442 usd
CY2023Q4 imii Note Receivable Outstanding Gross Amount
NoteReceivableOutstandingGrossAmount
2219442 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2219442 usd

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