v3.26.1
Accrued Expenses
3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
Accrued Expenses

NOTE 12 – ACCRUED EXPENSES

Accrued expenses consist of the following:

 

 

March 31, 2026

 

 

December 31, 2025

 

Compensation and incentives

 

$

2,292

 

 

$

1,052,226

 

Professional services

 

 

2,764,239

 

 

 

466,060

 

Deposits

 

 

 

 

 

525,000

 

Accrued interest

 

 

2,419

 

 

 

3,226

 

Exploration license fees

 

 

8,111,702

 

 

 

7,799,508

 

Total accrued expenses

 

$

10,880,652

 

 

$

9,846,020

 

As of December 31, 2025, Deposits consist of an earnest money deposit of $0.5 million from CIC, related to a draft agreement of a potential sale of a stake of our equity in CIC. As of December 31, 2025, this transaction had not yet been agreed upon or consummated. As discussed further in Note 4 – Related Party Transactions, on March 20, 2026, the Company and CIC entered into a redemption agreement, pursuant to which the earnest money deposit advanced by CIC and held by the Company was reduced to zero.