v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash $ 307,699 $ 170,557
Prepaid expenses and other current assets 385,500 259,854
Other receivables 10,385 2,262
Total current assets 794,083 432,673
Property, plant and equipment, net 2,898,476 2,913,509
Mineral rights 30,100,000 30,100,000
Total assets 33,792,559 33,446,182
Current liabilities    
Accounts payable 5,360,816 1,847,858
Accrued expenses and other current liabilities 1,940,556 936,289
Advances payable 648,000 648,000
Convertible notes payable 3,183,579 2,472,848
Total current liabilities 11,530,667 8,006,108
Warrants liabilities 2,185,000
Royalty obligation 2,700,000 2,700,000
Contingent consideration liability 17,100,000 17,100,000
Asset retirement obligation 14,808,000 13,937,000
Total liabilities 48,323,667 41,743,108
Commitments and contingencies (Note 15)
Stockholders’ equity deficit    
Class A ordinary Shares, $0.0001 par value; 200,000,000 authorized and 32,818,077 and 9,776,421 issued and outstanding at June 30, 2025, and December 31, 2024, respectively 3,282 978
Additional paid in capital 7,038,156 3,716,962
Subscription receivables (1,980,727)
Accumulated deficit (19,808,254) (11,972,315)
Accumulated other comprehensive loss 216,435 (42,551)
Total stockholders’ deficit (14,531,108) (8,296,926)
Total liabilities and stockholders’ deficit 33,792,559 33,446,182
Related Party    
Current assets    
Accounts Receivable - related party, net 90,499
Current liabilities    
Accounts payable- related party, net $ 397,716 $ 2,101,113