2024 Q4 Form 10-K Financial Statement

#000106299324018073 Filed on October 29, 2024

View on sec.gov

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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<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>
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<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>
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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

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