| SCHEDULE OF INVENTORIES |
Inventories
as of June 30, 2026, and December 31, 2025, are comprised of the following:
SCHEDULE
OF INVENTORIES
| | |
2026 | | |
2025 | |
| | |
June 30, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| Quartzite processed slabs | |
| 36,493 | | |
| 36,493 |
|
| Total | |
| 36,493 | | |
| 36,493 | |
|
| SCHEDULE OF PROPERTY AND EQUIPMENT |
The
following table sets forth the components of our property and equipment as of June 30, 2026 and December 31, 2025:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
June 30, 2026 | | |
December 31, 2025 | |
| | |
| | |
Accumulated | | |
Net Book | | |
| | |
Accumulated | | |
Net Book | |
| | |
Cost | | |
Depreciation | | |
Value | | |
Cost | | |
Depreciation | | |
Value | |
| Capital assets subject to depreciation: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Computers and office equipment | |
| 11,410 | | |
| (2,279 | ) | |
| 9,131 | | |
| 6,453 | | |
| (1,290 | ) | |
| 5,163 | |
| Machinery and equipment | |
| 469,472 | | |
| (22,313 | ) | |
| 447,159 | | |
| 469,472 | | |
| (14,845 | ) | |
| 454,627 | |
| Mineral rights (1) (2) | |
| 1,632,728 | | |
| (2,942 | ) | |
| 1,629,786 | | |
| 1,446,843 | | |
| (749 | ) | |
| 1,446,094 | |
| Land | |
| 20,250 | | |
| - | | |
| 20,250 | | |
| 20,250 | | |
| - | | |
| 20,250 | |
| Facilities | |
| 16,327 | | |
| (2,665 | ) | |
| 13,662 | | |
| 16,327 | | |
| (1,848 | ) | |
| 14,479 | |
| Total fixed assets | |
| 2,150,187 | | |
| (30,199 | ) | |
| 2,119,988 | | |
| 1,959,345 | | |
| (18,732 | ) | |
| 1,940,613 | |
| (1) | The amortization of mineral rights was
triggered by the extraction of iron ore in the Rio Piracicaba Project, following the lease agreement entered into by us and
a third party in 2025. |
| | | |
| (2) | During the first half of 2026, we acquired mineral rights for graphite totaling 1,563
hectares in Malacacheta, Minas Gerais, for a purchase price of $185,884. |
|
| SCHEDULE OF FOREIGN EXCHANGE CONTRACTS |
The
following table summarizes the non-deliverable forward foreign exchange contracts that remain open as of June 30, 2026:
SCHEDULE OF FOREIGN EXCHANGE CONTRACTS
| Subsidiary |
|
Dates
Entered Into |
|
Derivative
Financial Instrument |
|
Total
Notional Amounts
(USD) |
|
|
FX
rate
(BRL/USD) |
|
|
Total
Notional Amounts
(BRL) |
|
|
Settlement
Dates
(Range) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mineração
Apollo Ltda |
|
March,
2026 |
|
Forward
foreign exchange contracts (USD/BRL) |
|
$ |
1,500,000 |
|
|
|
5.50 |
|
|
|
8,243,875 |
|
|
31-Jul-2026
- 30-Dec-2026 |
|
| SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES
| |
June 30, 2026 | | |
December 31, 2025 | |
| Trade payables | |
| 376,142 | | |
| 594,566 | |
| Payroll and social charges | |
| 102,941 | | |
| 116,221 | |
| Taxes payable | |
| 18,770 | | |
| 11,002 | |
| Total | |
| 497,853 | | |
| 721,789 | |
|
| SCHEDULE OF OTHER CURRENT ASSETS |
The
table below summarizes the amounts presented as Other Current Assets:
SCHEDULE
OF OTHER CURRENT ASSETS
| |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
| Option agreement |
|
|
500,000 |
|
|
|
500,000 |
|
| Other |
|
|
2,323 |
|
|
|
81,782 |
|
| Total |
|
|
502,323 |
|
|
|
581,782 |
|
|