(8) Inventory

Inventory is stated at the lower of cost or net realizable value in accordance with ASC 330. As of the reporting date, the Company has not recognized any inventory on its balance sheet.

The Company holds certain parts, tools, and other equipment-related components acquired in connection with intellectual property and future equipment development activities; however, as of the reporting date, no amounts have been classified as inventory in the accompanying balance sheets.

The Company’s previously processed mine tailings and related materials were acquired as part of a transaction accounted for as a business combination and are classified as long-lived mineral assets, initially measured at fair value in accordance with ASC 805 and ASC 820, rather than as inventory.

If and when the Company commences production or equipment sales activities and materials are held for sale, such amounts will be classified as inventory and measured at the lower of cost or net realizable value.