v3.25.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 3,906,773 $ 954,271
Accounts receivable 3,644,369 2,419,671
Derivative assets 406,942 1,529,850
Assets held for sale - land and mineral rights and properties 7,058,933 7,058,933
Prepaid expenses and other current assets 680,262 595,320
Total current assets 15,697,279 12,558,045
Non-current Assets:    
Investments 39,594,103 38,885,998
Mineral rights and properties 11,250,121 11,250,121
Properties, plant and equipment, net 20,734,578 8,605,094
Deposits 435,000 411,268
Reclamation bond deposit 3,438,304 3,259,514
Notes receivable 2,860,291 2,430,291
Intangible assets, net 5,821,174 5,859,152
Finance lease - right of use asset, net 3,075,377 3,088,188
Operating lease - right of use asset, net 8,103,651 4,650,862
Other assets 317,618 311,348
Total non-current assets 95,630,217 78,751,836
TOTAL ASSETS 111,327,496 91,309,881
Liabilities, Current [Abstract]    
Accounts payable 3,201,029 2,853,263
Accrued expenses and other liabilities 3,401,551 4,518,497
Deferred revenue (Note 13) 789,120 151,939
Derivative liabilities 1,229,000 0
Finance lease - right of use lease liability 0 490,075
Debt, net 0 97,593
Total current liabilities 8,620,700 8,111,367
Long-term Liabilities:    
Reclamation liability 6,143,333 6,033,418
Operating lease - right of use lease liability 8,321,853 4,826,785
Deferred revenue (Note 6) 958,333 0
Debt, net 13,904,372 8,390,000
Other liabilities 1,830,971 4,179,226
Total long-term liabilities 43,158,862 23,429,429
TOTAL LIABILITIES 51,779,562 31,540,796
COMMITMENTS AND CONTINGENCIES (Notes 9 and 14)
Stockholders' Equity:    
Preferred stock $0.000666 par value, 50,000,000 shares authorized, no shares outstanding 0 0
Common stock, $0.000666 par value, 245,000,000 shares authorized, 26,903,872 and 23,507,577 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 160,410 156,590
Additional paid-in capital 404,132,520 395,263,560
Accumulated deficit (344,744,996) (335,651,065)
Total stockholders' equity 59,547,934 59,769,085
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY 111,327,496 91,309,881
Marathon SAFE Note Liability [Member]    
Long-term Liabilities:    
Marathon Simple Agreement for Future Equity (“SAFE”) Note $ 12,000,000 $ 0