Stockholders’ deficit |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders’ deficit |
Common Stock
The Company’s common stock and Class A common stock are voting and entitle stockholders to receive dividends to the extent declared by the Board of Directors. Upon liquidation or wind-up, stockholders are entitled to participate equally with respect to any distribution of net assets.
Common Stock for Services
On April 22, 2026, the Company entered into a stock compensation and subscription agreement with a consultant that includes the issuance of shares of common stock that vest 1/12th each month during a one-year vesting period. The shares of common stock will be subject to a six-month hold period from the date of issuance. During the three months ended April 30, 2026, the Company issued shares related to this agreement with a fair value of $2,091.
Shares Issued for Conversion of Notes
During the three months ended April 30, 2026, the Company issued a total of shares of common stock for conversions of $232,054 in principal and $38,822 of interest on convertible notes payable at exercise prices ranging from $0.0148 to $0.0303.
Stock Options
These options had a weighted average remaining life of years and have an aggregate intrinsic value of $as of April 30, 2026. The aggregate intrinsic value is calculated based on the stock price of $ per share as of April 30, 2026.
During the three months ended April 30, 2026, the Company granted an aggregate of options to purchase shares of common stock to a consulting geologist. The options have a strike price equal to the closing price per share on the day the options were issued, vest upon issuance and expire in The exercise price of the options ranges from $ to $.
During the three months ended April 30, 2026 and 2025, the Company recognized $ and $ of compensation expense related to incentive and non-qualified stock options previously granted to officers, employees and consultants.
As of April 30, 2026, there was $ of unrecognized share-based compensation for all share-based awards outstanding.
Warrants
As of April 30, 2026, there were 16,581,532 warrants to purchase shares of common stock outstanding and 16,074,000 warrants to purchase shares of common stock exercisable. The warrants have a weighted average remaining life of 0.79 years and a weighted average exercise price of $0.06 per warrant for one common share. The warrants had an aggregate intrinsic value of $ as of April 30, 2026.
Stock warrants outstanding at April 30, 2026 are as follows:
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