2023 Q4 Form 10-K Financial Statement
#000106299323019828 Filed on October 30, 2023
Income Statement
| Concept | 2023 Q4 | 2023 Q3 | 2023 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $835.3K | $645.5K | $2.611M |
| YoY Change | 103.34% | 23.28% | 9.29% |
| % of Gross Profit | |||
| Research & Development | $361.5K | $96.71K | $772.6K |
| YoY Change | 191.58% | -78.56% | -2.03% |
| % of Gross Profit | |||
| Depreciation & Amortization | $5.560K | $5.850K | $22.97K |
| YoY Change | -1.59% | -2.82% | -5.67% |
| % of Gross Profit | |||
| Operating Expenses | $1.227M | $792.7K | $3.533M |
| YoY Change | 117.64% | -21.01% | 7.31% |
| Operating Profit | |||
| YoY Change | |||
| Interest Expense | $63.54K | $620.8K | $328.1K |
| YoY Change | -35.04% | -331.1% | 20.17% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $7.550K | $10.83K | $11.86K |
| YoY Change | -83.14% | -85.01% | |
| Pretax Income | -$1.378M | -$161.0K | -$3.660M |
| YoY Change | 101.37% | -86.67% | 5.67% |
| Income Tax | $0.00 | ||
| % Of Pretax Income | |||
| Net Earnings | -$1.378M | -$161.0K | -$3.660M |
| YoY Change | 101.37% | -86.67% | 5.67% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.03 | -$0.10 | |
| Diluted Earnings Per Share | -$0.03 | $0.00 | -$0.10 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 40.36M shares | 36.39M shares | |
| Diluted Shares Outstanding | 40.36M shares | 36.39M shares |
Balance Sheet
| Concept | 2023 Q4 | 2023 Q3 | 2023 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $686.3K | $758.3K | $758.3K |
| YoY Change | 311.41% | 60.68% | 60.68% |
| Cash & Equivalents | $686.3K | $758.3K | |
| Short-Term Investments | |||
| Other Short-Term Assets | $114.7K | $140.0K | $140.0K |
| YoY Change | -68.7% | -67.38% | -67.38% |
| Inventory | |||
| Prepaid Expenses | $114.7K | $140.0K | |
| Receivables | $7.180K | $82.53K | $82.53K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $808.2K | $980.8K | $980.8K |
| YoY Change | 33.29% | -0.58% | -0.58% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $522.9K | $528.5K | $4.678M |
| YoY Change | -4.19% | -4.17% | -0.49% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $4.672M | $4.678M | $4.678M |
| YoY Change | -0.49% | -0.49% | -0.49% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $808.2K | $980.8K | $980.8K |
| Total Long-Term Assets | $4.672M | $4.678M | $4.678M |
| Total Assets | $5.480M | $5.658M | $5.658M |
| YoY Change | 3.38% | -0.5% | -0.5% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $918.0K | $457.4K | $457.4K |
| YoY Change | 88.07% | 42.08% | 42.08% |
| 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 | $1.001M | $508.6K | $508.6K |
| YoY Change | 85.51% | 45.32% | 45.32% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.532M | $1.438M | $1.438M |
| YoY Change | 2.7% | 5.38% | 5.38% |
| Other Long-Term Liabilities | $222.5K | $140.0K | $140.0K |
| YoY Change | -37.49% | -62.55% | -62.55% |
| Total Long-Term Liabilities | $1.754M | $1.578M | $1.578M |
| YoY Change | -5.04% | -9.23% | -9.23% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.001M | $508.6K | $508.6K |
| Total Long-Term Liabilities | $1.754M | $1.578M | $1.578M |
| Total Liabilities | $2.755M | $2.087M | $2.087M |
| YoY Change | 15.43% | -0.09% | -0.09% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$28.05M | -$26.67M | |
| YoY Change | 18.38% | 15.91% | |
| Common Stock | $40.36K | $40.36K | |
| YoY Change | 23.1% | 23.1% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $2.725M | $3.572M | $3.572M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $5.480M | $5.658M | $5.658M |
| YoY Change | 3.38% | -0.5% | -0.5% |
Cashflow Statement
| Concept | 2023 Q4 | 2023 Q3 | 2023 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$1.378M | -$161.0K | -$3.660M |
| YoY Change | 101.37% | -86.67% | 5.67% |
| Depreciation, Depletion And Amortization | $5.560K | $5.850K | $22.97K |
| YoY Change | -1.59% | -2.82% | -5.67% |
| Cash From Operating Activities | -$512.9K | -$540.2K | -$2.476M |
| YoY Change | 68.09% | -40.67% | -8.09% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| 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 | $250.0K | ||
| YoY Change | |||
| Cash From Financing Activities | $440.9K | 0.000 | $2.763M |
| YoY Change | 15.45% | ||
| NET CHANGE | |||
| Cash From Operating Activities | -$512.9K | -540.2K | -$2.476M |
| Cash From Investing Activities | $0.00 | ||
| Cash From Financing Activities | $440.9K | 0.000 | $2.763M |
| Net Change In Cash | -$71.99K | -540.2K | $286.4K |
| YoY Change | -76.41% | -40.67% | -195.02% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$512.9K | -$540.2K | -$2.476M |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
2985423 | usd |
| CY2022 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2392998 | usd |
| CY2022 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
406790 | usd |
| CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2985423 | usd |
| CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3464127 | usd |
| CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-978000 | usd |
| CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-887000 | usd |
| CY2023 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
703000 | usd |
| CY2022 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
1068000 | usd |
| CY2023Q3 | ryes |
Deferred Tax Assets Mineral Property Interest
DeferredTaxAssetsMineralPropertyInterest
|
-87000 | usd |
| CY2023Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
3571861 | usd |
| CY2023 | dei |
Auditor Firm
AuditorFirmId
|
731 | |
| CY2023 | dei |
Auditor Name
AuditorName
|
DAVIDSON & COMPANY LLP | |
| CY2023 | ryes |
Write Off On Payable
WriteOffOnPayable
|
0 | usd |
| CY2022 | ryes |
Write Off On Payable
WriteOffOnPayable
|
-30739 | usd |
| CY2022 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
2392998 | usd |
| CY2023 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
250000 | usd |
| CY2022 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | usd |
| CY2023 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
27409 | usd |
| CY2022 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd |
| CY2023 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
27409 | usd |
| CY2023 | ryes |
Warrants Issued For Financing Expense
WarrantsIssuedForFinancingExpense
|
154218 | usd |
| CY2023 | 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> | |
| CY2023 | ryes |
Property Plant And Equipment Depreciation Method
PropertyPlantAndEquipmentDepreciationMethod
|
straight-line basis | |
| CY2023Q3 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P15Y | |
| CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="margin-left: 36pt; text-align: justify; margin-top: 10pt;"><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. However, 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> | |
| CY2021Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.14 | |
| CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
6017500 | shares |
| CY2022 | ryes |
Warrants Issued Weighted Average Exercise Price
WarrantsIssuedWeightedAverageExercisePrice
|
0.76 | |
| CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
|
531873 | shares |
| CY2022 | ryes |
Warrants Expired Weighted Average Exercise Price
WarrantsExpiredWeightedAverageExercisePrice
|
1.21 | |
| CY2021Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
6851379 | shares |
| CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3660382 | usd |
| CY2023 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
125000 | usd |
| CY2022 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
101000 | usd |
| CY2023 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
-1391000 | usd |
| CY2022 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
0 | usd |
| CY2023 | us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
-1541000 | usd |
| CY2022 | us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
282000 | usd |
| CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
| CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
| CY2023Q3 | ryes |
Deferred Tax Assets Exploration And Evaluation Assets
DeferredTaxAssetsExplorationAndEvaluationAssets
|
310000 | usd |
| CY2022Q3 | ryes |
Deferred Tax Assets Exploration And Evaluation Assets
DeferredTaxAssetsExplorationAndEvaluationAssets
|
49000 | usd |
| CY2022Q3 | ryes |
Deferred Tax Assets Mineral Property Interest
DeferredTaxAssetsMineralPropertyInterest
|
-21000 | usd |
| CY2023Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
4125000 | usd |
| CY2022Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1630000 | usd |
| CY2023Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
4348000 | usd |
| CY2022Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1658000 | usd |
| CY2023Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4348000 | usd |
| CY2022Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1658000 | usd |
| CY2023Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
| CY2022Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
| CY2023 | ryes |
Amount Paid To Lender
AmountPaidToLender
|
250000 | usd |
