| RELATED PARTY TRANSACTIONS |
NOTE
3 – RELATED PARTY TRANSACTIONS
Amounts
due to related parties at June 30, 2025 and December 31, 2024:
SCHEDULE
OF AMOUNTS DUE TO RELATED PARTIES
| | |
June 30, 2025 | | |
December 31, 2024 | |
| Amounts due to a director and Chief Financial Officer (“CFO”) (a) | |
$ | 100,000 | | |
$ | 100,000 | |
| Amounts due to a company controlled by a director and CFO (a) | |
| 360,000 | | |
| 360,000 | |
| Amounts due to companies controlled by the Chief Executive Officer (“CEO”), and chairman of the board of directors of the Company (a,b) | |
| 40,000 | | |
| - | |
| Total related party payables | |
$ | 500,000 | | |
$ | 460,000 | |
| (a) |
These
amounts are non-interest bearing, unsecured and due on demand. |
| (b) |
This
amount includes annual property payment totaling $20,000 for Agai-Pah Property due to MSM Resource, L.L.C. (“MSM”), and
$20,000 for Belshazzar Property due to Belshazzar Holdings, L.L.C. (“Belshazzar”), the entities controlled by Alan Day,
the Company’s CEO and director, who is also the managing member of MSM and Belshazzar. The total balance was paid in early
August 2025. |
During
the three and six months ended June 30, 2025 and 2024, the Company had the following transactions with its related parties:
SCHEDULE
OF TRANSACTIONS WITH ITS RELATED PARTIES
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
Three months ended
June 30, | | |
Six months ended
June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Director stock-based compensation incurred to the Chairman of the Board and CFO | |
$ | - | | |
$ | 82,059 | | |
$ | - | | |
$ | 164,118 | |
| Director stock-based compensation incurred to a director | |
| - | | |
| 40,927 | | |
| - | | |
| 81,854 | |
| Director stock-based compensation incurred to CEO and director | |
| - | | |
| 122,781 | | |
| - | | |
| 245,562 | |
| Officer stock-based compensation incurred to VP of Operations | |
| - | | |
| 175,000 | | |
| 116,667 | | |
| 350,000 | |
| Related party transactions | |
$ | - | | |
$ | 420,767 | | |
$ | 116,667 | | |
$ | 841,534 | |
See
Note 4 – Mineral Property and Royalty Interests for further information on related party transactions and Note 6 –
Stockholders’ Equity for further information regarding stock issued to related parties.
|