v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 2 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities:      
Net loss $ (334,678) $ (21,909,914) $ (11,637,637)
Adjustment to reconcile net loss to cash used in operating activities:      
Accretion of asset retirement obligation 1,910,000 1,037,000
Depreciation 54,799 41,768
Non-cash interest expense
Day one loss on accounting of convertible notes 1,604,305
Change in fair value of liabilities 4,470,596
Operating and prepaid expenses paid by related party 418,669 1,682,444
Stock based compensation expense 1,162,531
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (83,991) (905,110) (174,210)
Other receivables (5,229) (2,303)
Accounts payable 6,267,754 1,870,285
Accounts payable – related party (1,905,807)
Accrued expenses and other current liabilities (1,308,886) 948,335
Net cash used in operating activities (10,564,959) (6,234,318)
Cash Flows from Investing Activities:      
Purchase of property, plant and equipment (2,846) (355,277)
Investment in intangible assets (93,889)
Net cash used in investing activities (96,735) (355,277)
Cash Flows from Financing Activities:      
Proceeds from convertible notes 7,592,396 2,850,000
Repayment of convertible note (1,627,020) (377,152)
Proceeds from loan 648,000
Proceeds from Business Combination 13,264
Proceeds from Issuance of Class A ordinary shares 5,227,641 3,628,191
Net cash provided by financing activities 11,206,281 6,749,039
Effect of exchange rate changes on cash (35,702) 11,113
Net increase in cash 508,885 170,557
Cash , beginning of year 170,557
Cash, end of year 679,442 170,557
Supplemental cash flow information:      
Interest paid 36,406
Noncash investing and financing activities:      
Acquisition of mineral rights in exchange for certain obligations 30,100,000
Acquisition of property, plant and equipment, net in exchange for certain obligations 2,600,000
Assumption of royalty payable in exchange for mineral rights and property, plant and equipment, net 2,700,000
Assumption of contingent consideration liability in exchange for mineral rights and property, plant and equipment, net 17,100,000
Assumption of asset retirement obligation in connection with obtaining mineral rights and property, plant and equipment 12,900,000
Conversion of June and July Notes to Class A ordinary shares 4,137,288
Conversion of Senior Convertible Notes including accrued interest 917,016
Non cash issuance of shares 1,037,500  
Accounts payable, accrued liabilities and other current liabilities assumed in Business Combination 3,013,837
Convertible notes payable assumed in Business Combination 770,000
Warrant liabilities combined assumed in Business Combination $ 230,000