2022 Q4 Form 10-K Financial Statement
#000106299322021269 Filed on October 31, 2022
Income Statement
| Concept | 2022 Q4 | 2022 Q3 | 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 | $410.8K | $523.6K | $2.389M |
| YoY Change | -3.92% | -2.97% | 0.0% |
| % of Gross Profit | |||
| Research & Development | $124.0K | $451.0K | $788.7K |
| YoY Change | 127.42% | 142.29% | 0.82% |
| % of Gross Profit | |||
| Depreciation & Amortization | $5.650K | $6.020K | $24.35K |
| YoY Change | -9.31% | -8.37% | -4.81% |
| % of Gross Profit | |||
| Operating Expenses | $563.8K | $1.004M | $3.292M |
| YoY Change | 10.31% | 32.98% | 0.2% |
| Operating Profit | |||
| YoY Change | |||
| Interest Expense | $97.82K | -$268.6K | $273.0K |
| YoY Change | -67.18% | -250.4% | 128.44% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | $64.25K | $79.14K |
| YoY Change | -100.0% | 10432.79% | 1518.4% |
| Pretax Income | -$684.5K | -$1.208M | -$3.464M |
| YoY Change | 222.44% | 109.9% | 115.98% |
| Income Tax | $0.00 | ||
| % Of Pretax Income | |||
| Net Earnings | -$684.5K | -$1.208M | -$3.464M |
| YoY Change | 222.44% | 109.9% | 115.98% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.02 | -$0.12 | |
| Diluted Earnings Per Share | -$0.02 | -$36.80K | -$0.12 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 32.79M shares | 29.80M shares | |
| Diluted Shares Outstanding | 32.79M shares | 29.80M shares |
Balance Sheet
| Concept | 2022 Q4 | 2022 Q3 | 2022 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $166.8K | $471.9K | $471.9K |
| YoY Change | -57.99% | -38.97% | -38.97% |
| Cash & Equivalents | $166.8K | $471.9K | |
| Short-Term Investments | |||
| Other Short-Term Assets | $366.6K | $429.3K | $429.3K |
| YoY Change | 14.9% | 26.63% | 26.63% |
| Inventory | |||
| Prepaid Expenses | $366.6K | $429.3K | |
| Receivables | $72.93K | $85.36K | $85.36K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $606.3K | $986.6K | $986.6K |
| YoY Change | -20.58% | -14.69% | -14.69% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $545.8K | $551.4K | $4.700M |
| YoY Change | -4.17% | -4.23% | -0.52% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $4.695M | $4.700M | $4.700M |
| YoY Change | -0.5% | -0.52% | -0.52% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $606.3K | $986.6K | $986.6K |
| Total Long-Term Assets | $4.695M | $4.700M | $4.700M |
| Total Assets | $5.301M | $5.687M | $5.687M |
| YoY Change | -3.3% | -3.3% | -3.3% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $488.1K | $321.9K | $321.9K |
| YoY Change | 81.48% | 94.07% | 94.07% |
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $539.8K | $350.0K | $350.0K |
| YoY Change | 86.81% | 75.07% | 75.07% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.491M | $1.365M | $1.365M |
| YoY Change | 43.72% | 39.72% | 39.72% |
| Other Long-Term Liabilities | $355.9K | $373.9K | $373.9K |
| YoY Change | 240.05% | -15.36% | -15.36% |
| Total Long-Term Liabilities | $1.847M | $1.738M | $1.738M |
| YoY Change | 61.71% | 22.57% | 22.57% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $539.8K | $350.0K | $350.0K |
| Total Long-Term Liabilities | $1.847M | $1.738M | $1.738M |
| Total Liabilities | $2.387M | $2.088M | $2.088M |
| YoY Change | 66.77% | 29.05% | 29.05% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$23.69M | -$23.01M | |
| YoY Change | 17.72% | ||
| Common Stock | $32.79K | $32.79K | |
| YoY Change | 22.48% | 22.48% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $2.914M | $3.599M | $3.599M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $5.301M | $5.687M | $5.687M |
| YoY Change | -3.3% | -3.3% | -3.3% |
Cashflow Statement
| Concept | 2022 Q4 | 2022 Q3 | 2022 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$684.5K | -$1.208M | -$3.464M |
| YoY Change | 222.44% | 109.9% | 115.98% |
| Depreciation, Depletion And Amortization | $5.650K | $6.020K | $24.35K |
| YoY Change | -9.31% | -8.37% | -4.81% |
| Cash From Operating Activities | -$305.1K | -$910.5K | -$2.694M |
| YoY Change | -18.89% | 19.54% | -5.59% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | |||
| YoY Change | |||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | $0.00 | ||
| YoY Change | |||
| Cash From Financing Activities | $0.00 | 0.000 | $2.393M |
| YoY Change | 864.15% | ||
| NET CHANGE | |||
| Cash From Operating Activities | -$305.1K | -910.5K | -$2.694M |
| Cash From Investing Activities | |||
| Cash From Financing Activities | $0.00 | 0.000 | $2.393M |
| Net Change In Cash | -$305.1K | -910.5K | -$301.4K |
| YoY Change | -18.89% | 19.54% | -88.43% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$305.1K | -$910.5K | -$2.694M |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
773279 | usd |
| CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
usd | |
| CY2022 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2022-07-31 | |
| CY2022 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--07-31 | |
| CY2022 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | |
| CY2022 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
| CY2022Q1 | dei |
Entity Public Float
EntityPublicFloat
|
15297475 | usd |
| CY2022 | dei |
Auditor Firm
AuditorFirmId
|
731 | |
| CY2022 | dei |
Auditor Name
AuditorName
|
DAVIDSON & COMPANY LLP | |
| CY2022 | dei |
Auditor Location
AuditorLocation
|
Vancouver, Canada | |
| CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
471918 | usd |
| CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
90268 | usd |
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
773279 | usd |
| CY2020Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3378826 | usd |
| CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
471918 | usd |
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
773279 | usd |
| CY2022 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
79137 | usd |
| CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-left: 36pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><b>Use of Estimates</b></span></span></p> <p style="margin-left: 35.45pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">The preparation of these financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties and the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences. Actual results could differ from those estimates and would impact future results of operations and cash flows.</span></span></p> </div> | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.09 | |
| CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
805000 | shares |
| CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.82 | |
| CY2022 | us-gaap |
Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
|
straight-line basis | |
| CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="margin-left: 36pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><b>Concentration of credit risk</b></span></span></p> <p style="margin-left: 36pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. As of July 31, 2022, and 2021, the Company has not exceeded the federally insured limit. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts.</span></span></p> </div> | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3038500 | shares |
| ryes |
Number Of Common Share Purchase Warrants Issued
NumberOfCommonSharePurchaseWarrantsIssued
|
6308310 | shares | |
| ryes |
Number Of Common Share Purchase Warrants Issued
NumberOfCommonSharePurchaseWarrantsIssued
|
6308310 | shares | |
| CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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|
3038500 | shares |
| CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.02 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1005000 | shares |
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1 | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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|
1338500 | shares |
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|
1.2 | |
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1.5 | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2233500 | shares |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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|
1.02 | |
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1313 | usd |
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Income Tax Reconciliation Deductions Other
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282000 | usd |
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Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
12337006 | shares |
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Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.95 | |
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|
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Warrants Issued Weighted Average Exercise Price
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|
1.36 | |
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|
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|
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|
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Warrants Expired Weighted Average Exercise Price
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|
1.21 | |
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Class Of Warrant Or Right Outstanding
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0.95 | |
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Income Tax Reconciliation Deductions Other
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|
815000 | usd |
