2024 Q4 Form 10-K Financial Statement
#000106299324018073 Filed on October 29, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | |||
YoY Change | |||
Operating Profit | |||
YoY Change | |||
Interest Expense | $96.20K | $306.2K | |
YoY Change | 51.4% | -6.66% | |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | |||
YoY Change | |||
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$628.4K | -$3.566M | |
YoY Change | -54.41% | -2.59% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.01 | -$0.08 | |
Diluted Earnings Per Share | -$0.01 | -$0.08 | |
COMMON SHARES | |||
Basic Shares Outstanding | 55.79M shares | 47.00M shares | |
Diluted Shares Outstanding | 55.79M shares | 47.00M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $279.7K | $243.7K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $152.1K | $117.5K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $954.5K | $894.6K | |
YoY Change | 18.11% | -8.79% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | ||
YoY Change | -100.0% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $4.240M | $4.261M | |
YoY Change | -9.26% | -8.91% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $954.5K | $894.6K | |
Total Long-Term Assets | $4.240M | $4.261M | |
Total Assets | $5.194M | $5.155M | |
YoY Change | -5.22% | -8.89% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.527M | $2.662M | |
YoY Change | 152.3% | 423.35% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.527M | $2.662M | |
Total Long-Term Liabilities | |||
Total Liabilities | $2.793M | $2.778M | |
YoY Change | 1.38% | 33.13% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$30.86M | -$30.23M | |
YoY Change | 10.04% | 13.37% | |
Common Stock | $55.79K | $55.79K | |
YoY Change | 38.21% | 38.21% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.401M | $2.378M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $5.194M | $5.155M | |
YoY Change | -5.22% | -8.89% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$628.4K | -$3.566M | |
YoY Change | -54.41% | -2.59% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$455.0K | -$2.213M | |
YoY Change | -11.28% | -10.63% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $21.00K | ||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $200.0K | ||
YoY Change | -20.0% | ||
Cash From Financing Activities | $470.0K | $1.699M | |
YoY Change | 6.61% | -38.52% | |
NET CHANGE | |||
Cash From Operating Activities | -$455.0K | -$2.213M | |
Cash From Investing Activities | $21.00K | ||
Cash From Financing Activities | $470.0K | $1.699M | |
Net Change In Cash | $36.02K | -$514.6K | |
YoY Change | -150.03% | -279.71% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$455.0K | -$2.213M | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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243669 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
758272 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
3598666 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2985423 | 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 |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
466527 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3660382 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
3571861 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1898596 | usd |
CY2024 | ryes |
Warrants Issued For Credit Facility
WarrantsIssuedForCreditFacility
|
127337 | usd |
CY2024 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
345507 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3565631 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2377670 | usd |
CY2024 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <div> <div> <div> <div> <div> <div> <div> <div> <p style="margin-left:36pt;text-indent:-36pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>1.<span style="display:inline-block;width:28.5pt"> </span></strong><strong>NATURE AND CONTINUANCE OF OPERATIONS</strong></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">Rise Gold Corp. (the "Company") was originally incorporated as Atlantic Resources Inc. in the State of Nevada on February 9, 2007 and is in the exploration stage. On April 11, 2012, the Company merged its wholly-owned subsidiary, Patriot Minefinders Inc., a Nevada corporation, in and to the Company to effect a name change to Patriot Minefinders Inc. On January 14, 2015, the Company completed a name change to Rise Resources Inc. in the same manner. On March 29, 2017, the Company changed its name to Rise Gold Corp. These mergers were carried out solely for the purpose of effecting these changes of names.</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">On September 18, 2020, the Company increased its authorized capital from 40,000,000 shares to 400,000,000 shares. </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">On January 29, 2016, the Company completed an initial public offering in Canada and began trading on the Canadian Securities Exchange ("CSE") on February 1, 2016.</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 Company is in the early stages of exploration and as is common with any exploration company, it raises financing for its acquisition activities. The accompanying consolidated financial statements have been prepared on the going concern basis, which presumes that the Company will continue operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a loss of $3,565,631 for the year ended July 31, 2024 and has accumulated a deficit of $30,234,617. The ability of the Company to continue as a going concern is dependent on the Company's ability to maintain continued support from its shareholders and creditors and to raise additional capital and implement its business plan. There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be on terms advantageous to the Company. These events and conditions cast substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</span></span></p> <p style="margin-left:36pt;text-align:justify;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At July 31, 2024, the Company had working capital deficit of $1,766,960 (2023 - working capital of $472,272).</span></span></p> </div> </div> </div> </div> </div> </div> </div> </div> </div> | |
CY2024 | 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"><strong>Use of Estimates</strong></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> | |
CY2024 | ryes |
Property Plant And Equipment Depreciation Method
PropertyPlantAndEquipmentDepreciationMethod
|
straight-line basis | |
CY2024Q3 | us-gaap |
Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
|
P15Y | |
CY2024 | 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"><strong>Concentration of credit risk</strong></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> | |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
243669 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
758272 | usd |
CY2024Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
56922 | usd |
CY2023Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
79758 | usd |
CY2024Q3 | ryes |
Prepaid Deposits
PrepaidDeposits
|
48226 | usd |
CY2023Q3 | ryes |
Prepaid Deposits
PrepaidDeposits
|
50539 | usd |
CY2024Q3 | ryes |
Investor Relations
InvestorRelations
|
12320 | usd |
CY2023Q3 | ryes |
Investor Relations
InvestorRelations
|
9745 | usd |
CY2024Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
1000000 | usd |
CY2024Q1 | us-gaap |
Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
|
0.12 | pure |
CY2024Q1 | ryes |
Class Of Warrant Or Right Number Of Warrants Granted During Period
ClassOfWarrantOrRightNumberOfWarrantsGrantedDuringPeriod
|
1000000 | shares |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.16 | |
CY2024Q1 | ryes |
Fair Value Of Warrants Received As Additional Consideration For Loan
FairValueOfWarrantsReceivedAsAdditionalConsiderationForLoan
|
127336 | usd |
CY2024 | ryes |
Description Of Additional Warrants
DescriptionOfAdditionalWarrants
|
In addition, for each $100,000 loaned under the arrangement, the Company has agreed to issue to the lender 200,000 additional non-transferable warrants ("Additional Warrants"). | |
CY2024Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.158 | |
CY2023Q4 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.26 | |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5578511 | shares |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.69 | |
ryes |
Number Of Common Share Purchase Warrants Issued
NumberOfCommonSharePurchaseWarrantsIssued
|
6308310 | shares | |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
16711575 | shares |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.56 | |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3565631 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3660382 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-998000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-978000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
27000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
703000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
76000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
125000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
-350000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
-1391000 | usd |
CY2024 | us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
-1245000 | usd |
CY2023 | us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
-1541000 | usd |
CY2024 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2024Q3 | ryes |
Deferred Tax Assets Mineral Property Interest
DeferredTaxAssetsMineralPropertyInterest
|
477000 | usd |
CY2023Q3 | ryes |
Deferred Tax Assets Mineral Property Interest
DeferredTaxAssetsMineralPropertyInterest
|
310000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
116000 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
87000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5232000 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
4125000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
5593000 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
4348000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
5593000 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4348000 | usd |
CY2024Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2023Q3 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2024 | ryes |
Accrued Of Financing Expense On Warrants Issued For Deferred Financing Asset
AccruedOfFinancingExpenseOnWarrantsIssuedForDeferredFinancingAsset
|
127336 | usd |
CY2024 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |