v3.26.1
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Tables)
6 Months Ended
Jun. 30, 2026
Composition Of Certain Financial Statement Items  
SCHEDULE OF INVENTORIES

Inventories as of June 30, 2026, and December 31, 2025, are comprised of the following:

 

 

   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:

 

   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:

 

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

 

 

 

  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:

 

    June 30, 2026     December 31, 2025  
Option agreement     500,000       500,000  
Other     2,323       81,782  
Total     502,323       581,782