2022 Q3 Form 10-K Financial Statement

#000153949722001510 Filed on September 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $457.0K $445.0K $2.834M
YoY Change 11.74% 2.77% 38.85%
% of Gross Profit
Research & Development $1.288M $1.352M $3.309M
YoY Change 107.41% 291.88% 213.35%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K $3.000K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $2.082M $2.126M $7.796M
YoY Change 65.76% 118.95% 90.52%
Operating Profit
YoY Change
Interest Expense $300.0K -$569.0K $1.906M
YoY Change -142.61% 109.19% -655.69%
% of Operating Profit
Other Income/Expense, Net $2.000K $0.00 $0.00
YoY Change -100.0%
Pretax Income -$2.554M -$2.695M -$9.929M
YoY Change 30.31% 116.81% 126.17%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.554M -$2.695M -$9.929M
YoY Change 30.31% 116.81% 126.17%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$9.189K -$9.990K -$37.65K
COMMON SHARES
Basic Shares Outstanding 278.1M shares 26.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.192M $5.280M $5.280M
YoY Change -45.6% -27.84% -27.84%
Cash & Equivalents $3.192M $5.280M
Short-Term Investments
Other Short-Term Assets $189.0K $402.0K $402.0K
YoY Change -35.71% 1575.0% 1575.0%
Inventory
Prepaid Expenses $402.0K
Receivables
Other Receivables
Total Short-Term Assets $3.381M $5.682M $5.682M
YoY Change -45.13% -22.6% -22.6%
LONG-TERM ASSETS
Property, Plant & Equipment $17.01M $850.0K $17.03M
YoY Change -0.39% -95.02% -0.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.00K $10.00K $10.00K
YoY Change -28.57% -37.5% -37.5%
Other Assets $2.844M $35.00K $35.00K
YoY Change 8025.71% 0.0% 0.0%
Total Long-Term Assets $19.87M $17.07M $17.07M
YoY Change 15.99% -0.32% -0.32%
TOTAL ASSETS
Total Short-Term Assets $3.381M $5.682M $5.682M
Total Long-Term Assets $19.87M $17.07M $17.07M
Total Assets $23.25M $22.76M $22.76M
YoY Change -0.18% -7.0% -7.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $467.0K $115.0K $115.0K
YoY Change 353.4% -29.45% -29.45%
Accrued Expenses $852.0K $252.0K $784.0K
YoY Change 205.38% -19.75% 149.68%
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $2.000M $2.000M
YoY Change 0.0% -13.72% -13.72%
Long-Term Debt Due $755.0K $796.0K $796.0K
YoY Change 90.66% -29.12% -29.12%
Total Short-Term Liabilities $6.511M $3.695M $3.695M
YoY Change 134.38% -5.69% -5.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $0.00 $23.00K $23.00K
YoY Change -100.0% -78.1% -78.1%
Total Long-Term Liabilities $0.00 $23.00K $23.00K
YoY Change -100.0% -99.67% -99.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.511M $3.695M $3.695M
Total Long-Term Liabilities $0.00 $23.00K $23.00K
Total Liabilities $6.511M $3.718M $3.718M
YoY Change -31.2% -65.6% -65.6%
SHAREHOLDERS EQUITY
Retained Earnings -$113.0M -$109.0M
YoY Change 11.79% 10.02%
Common Stock $130.7M $129.1M
YoY Change 13.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.74M $19.04M $19.04M
YoY Change
Total Liabilities & Shareholders Equity $23.25M $22.76M $22.76M
YoY Change -0.18% -7.0% -7.0%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022
OPERATING ACTIVITIES
Net Income -$2.554M -$2.695M -$9.929M
YoY Change 30.31% 116.81% 126.17%
Depreciation, Depletion And Amortization $1.000K $1.000K $3.000K
YoY Change 0.0%
Cash From Operating Activities -$1.738M -$1.736M -$6.150M
YoY Change 8.02% 61.34% 30.13%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$16.00K
YoY Change -100.0% -100.0% -99.75%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$16.00K
YoY Change -100.0% -99.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.737M
YoY Change -55.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$21.00K 3.646M $4.301M
YoY Change -106.07% -40.75% -76.2%
NET CHANGE
Cash From Operating Activities -$1.738M -1.736M -$6.150M
Cash From Investing Activities 0.000 -$16.00K
Cash From Financing Activities -$21.00K 3.646M $4.301M
Net Change In Cash -$2.088M 1.910M -$2.037M
YoY Change 63.25% -255.66% -128.92%
FREE CASH FLOW
Cash From Operating Activities -$1.738M -$1.736M -$6.150M
Capital Expenditures $0.00 $0.00 -$16.00K
Free Cash Flow -$1.738M -$1.736M -$6.134M
YoY Change 9.1% -133.2% -488.47%

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-5178000 usd
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3830000 usd
CY2022 niobf Earnings Loss Per Share Basic And Diluted
EarningsLossPerShareBasicAndDiluted
0.04
CY2021 niobf Earnings Loss Per Share Basic And Diluted
EarningsLossPerShareBasicAndDiluted
0.02
CY2020 niobf Earnings Loss Per Share Basic And Diluted
EarningsLossPerShareBasicAndDiluted
0.02
CY2022 niobf Total Weighted Average Number Of Share Outstanding Basic And Diluted
TotalWeightedAverageNumberOfShareOutstandingBasicAndDiluted
263737227 shares
CY2021 niobf Total Weighted Average Number Of Share Outstanding Basic And Diluted
TotalWeightedAverageNumberOfShareOutstandingBasicAndDiluted
241967116 shares
CY2020 niobf Total Weighted Average Number Of Share Outstanding Basic And Diluted
TotalWeightedAverageNumberOfShareOutstandingBasicAndDiluted
234610126 shares
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-9929000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-4390000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-4001000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
-7000 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
30000 usd
CY2021 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
32000 usd
CY2020 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-38000 usd
CY2022 us-gaap Depreciation
Depreciation
3000 usd
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-6000 usd
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
9000 usd
CY2020 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2000 usd
CY2022 us-gaap Accretion Expense
AccretionExpense
1696000 usd
CY2021 us-gaap Accretion Expense
AccretionExpense
670000 usd
CY2022 niobf Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
-294000 usd
CY2021 niobf Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
665000 usd
CY2020 niobf Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
-144000 usd
CY2021 us-gaap Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
196000 usd
CY2021 niobf Losses On Extinguishment Of Debt
LossesOnExtinguishmentOfDebt
-163000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1745000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
797000 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
153000 usd
CY2022 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-6192000 usd
CY2021 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-3632000 usd
CY2020 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-3668000 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
377000 usd
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-9000 usd
CY2020 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-40000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
419000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1103000 usd
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
579000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6150000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4726000 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3049000 usd
CY2021 us-gaap Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
5468000 usd
CY2022 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
16000 usd
CY2021 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
837000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6305000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4737000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10677000 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
470000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
118000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
174000 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
9477000 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
406000 usd
CY2020 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2338000 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
318000 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1500000 usd
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
196000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4301000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18074000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3004000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-172000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-33000 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2037000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7010000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-50000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7317000 usd
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
307000 usd
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
357000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5280000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7317000 usd
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
307000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
252000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
873000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
64000 usd
CY2022 niobf Conversions Of Debt For Common Shares
ConversionsOfDebtForCommonShares
8807000 usd
CY2021 niobf Conversions Of Debt For Common Shares
ConversionsOfDebtForCommonShares
3106000 usd
CY2020 niobf Conversions Of Debt For Common Shares
ConversionsOfDebtForCommonShares
980000 usd
CY2021 niobf Recognition Of Operating Lease Liabilities
RecognitionOfOperatingLeaseLiabilities
231000 usd
CY2021 niobf Derecognition Of Operating Lease Liabilities
DerecognitionOfOperatingLeaseLiabilities
-22000 usd
CY2021 niobf Accounts Payable To Convertible Debt Conversion
AccountsPayableToConvertibleDebtConversion
1640000 usd
CY2020 niobf Accounts Payable To Convertible Debt Conversion
AccountsPayableToConvertibleDebtConversion
406000 usd
CY2021 niobf Value Of Warrants Issued
ValueOfWarrantsIssued
1795000 usd
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
4852000 usd
CY2020 niobf Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
338000 usd
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
148000 usd
CY2020 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
980000 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
153000 usd
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-171000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-4001000 usd
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
2641000 usd
CY2021 niobf Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
5338000 usd
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
215000 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1795000 usd
CY2021 niobf Private Placement Value May2021
PrivatePlacementValueMay2021
5124000 usd
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
3106000 usd
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-175000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
797000 usd
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
788000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-4390000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
13663000 usd
CY2022 niobf Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
543000 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
483000 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
14000 usd
CY2022 niobf Private Placement May2022
PrivatePlacementMay2022
3711000 usd
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
8807000 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-130000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1745000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-131000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-9929000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
19038000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80F_eus-gaap--NatureOfOperations_zajrS4X2qYeg" style="margin-top: 0; margin-bottom: 0"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_82D_zGmOeYCHLJ7g">DESCRIPTION OF BUSINESS</span></span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"><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 0 0pt 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NioCorp Developments Ltd. (the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in <span id="xdx_90A_eus-gaap--NumberOfReportableSegments_dxL_uN_c20210701__20220630_zKhnBbSQXlu1" title="Number of reportable segments::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0577">one</span></span> reportable operating segment consisting of exploration and development of mineral deposits in North America, specifically, the Elk Creek niobium/scandium/titanium property (the “Elk Creek Project”) located in Southeastern Nebraska.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0 0pt 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared on a going concern basis that contemplates the realization of assets and discharge of liabilities at their carrying values in the normal course of business for the foreseeable future. These financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0 0pt 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently earns no operating revenues and will require additional capital in order to advance the Elk Creek Project. These matters raised substantial doubt about the Company’s ability to continue as a going concern, and the Company is dependent upon the generation of profits from mineral properties, obtaining additional financing and maintaining continued support from its shareholders and creditors.</span></p>
CY2022 us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_802_eus-gaap--BasisOfAccounting_zcLfjuwPUIO6" style="margin-top: 0; margin-bottom: 0"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_82C_zk0tuW6Qmwb3">BASIS OF PREPARATION</span></span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"/> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis of Preparation and Consolidation</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the U.S. (“U.S. GAAP”). Certain transactions include reference to Canadian dollars (“C$”) where applicable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_z66I2HjJ4thg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements include the accounts of the Company and the subsidiaries listed in the following table. All intercompany transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; 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 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zyhQdlAiZxE3" style="display: none; visibility: hidden">Schedule of intercompany transactions and balances</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 40pt; width: 90%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td rowspan="2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-right: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td rowspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of incorporation</b></span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ownership at June 30,</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCECFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 59%; padding-right: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0896800 BC Ltd. (“0896800”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--IncorporationStateCountryName_c20210701__20220630__srt--OwnershipAxis__custom--Entity0896800BCLtdMember_zc4Wk4z90TT1"><span id="xdx_902_ecustom--IncorporationStateCountryName_c20200701__20210630__srt--OwnershipAxis__custom--Entity0896800BCLtdMember_zVBFaiDdpvq1">Canada</span></span></span></td> <td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20220630__srt--OwnershipAxis__custom--Entity0896800BCLtdMember_z2XHPjI27Pa5" style="font: 10pt Times New Roman, Times, Serif; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of ownership"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td id="xdx_98C_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20210630__srt--OwnershipAxis__custom--Entity0896800BCLtdMember_zZPvZQ04ZJNi" style="font: 10pt Times New Roman, Times, Serif; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elk Creek Resources Corp. (“ECRC”)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--IncorporationStateCountryName_c20210701__20220630__srt--OwnershipAxis__custom--ElkCreekResourcesCorpMember_zqX8egAPYcwj"><span id="xdx_907_ecustom--IncorporationStateCountryName_c20200701__20210630__srt--OwnershipAxis__custom--ElkCreekResourcesCorpMember_zWyH2uk4Mvr2" title="Country of incorporation">USA</span></span></span></td> <td id="xdx_98A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20220630__srt--OwnershipAxis__custom--ElkCreekResourcesCorpMember_zg9Kb0ylsEH7" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td id="xdx_987_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20210630__srt--OwnershipAxis__custom--ElkCreekResourcesCorpMember_zLsYnYUg7oB1" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td></tr> </table> <p id="xdx_8A1_zWA1xlnBh2Ri" style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Estimates</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management 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 the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected.</span></p>
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<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_ziBnfPu1wg1h" style="margin-top: 0; margin-bottom: 0"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"/><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">h)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_862_z5l6tSItr3R1">Concentration of Credit Risk</span></span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial instrument which potentially subjects the Company to credit risk is cash and cash equivalents, The Company holds investments or maintains available cash primarily in two commercial banks located in Vancouver, British Columbia and Santa Clara, California. As part of its cash management process, the Company regularly monitors the relative credit standing of these institutions.</span></p>
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CY2022 niobf Other Income Taxes
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DeferredTaxAssetsValuationAllowance
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CY2022Q2 niobf Capital Loss Caryforward
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CY2022Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5280000 usd
CY2022Q2 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
10000 usd
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
5290000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
7317000 usd
CY2021Q2 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
16000 usd
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
7333000 usd
CY2022 niobf Expected Return Percentage
ExpectedReturnPercentage
0.07 pure
CY2022 dei Auditor Firm
AuditorFirmId
243

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