Income Taxes (Tables)
|
12 Months Ended |
Jun. 30, 2026 |
| Income Tax Disclosure [Abstract] |
|
| Schedule of Net Loss Before Income Taxes |
For the years ended June 30, 2026 and June 30, 2025, the Company's net loss before income taxes was as follows:
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes |
|
2026 |
|
|
2025 |
|
United States |
|
$ |
(15,555,370 |
) |
|
$ |
(9,031,174 |
) |
Foreign |
|
|
— |
|
|
|
— |
|
Total |
|
$ |
(15,555,370 |
) |
|
$ |
(9,031,174 |
) |
|
| Schedule of Income Tax Expense from Continuing Operations |
For the years ended June 30, 2026 and June 30, 2025, the Company's income tax expense from continuing operations were:
|
|
|
|
|
|
|
|
|
Income tax expense |
|
2026 |
|
|
2025 |
|
Federal |
|
$ |
4,853 |
|
|
$ |
19,249 |
|
State |
|
|
— |
|
|
|
— |
|
Foreign |
|
|
— |
|
|
|
— |
|
Total income tax expense |
|
$ |
4,853 |
|
|
$ |
19,249 |
|
|
| Schedule of Company's Deferred Tax Asset (Liability) |
The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2026 and 2025 are as follows:
|
|
|
|
|
|
|
|
|
United States |
|
2026 |
|
|
2025 |
|
Mineral properties |
|
$ |
7,182 |
|
|
$ |
71,353 |
|
Asset retirement obligation |
|
|
497,956 |
|
|
|
481,691 |
|
Fixed assets |
|
|
(385 |
) |
|
|
(257 |
) |
Derivatives |
|
|
1,299,026 |
|
|
|
276,686 |
|
Warrants |
|
|
175,120 |
|
|
|
|
Stock options |
|
|
88,651 |
|
|
|
626,052 |
|
Other |
|
|
2,100 |
|
|
|
2,100 |
|
Net operating losses |
|
|
19,850,046 |
|
|
|
17,565,333 |
|
|
|
$ |
21,919,696 |
|
|
$ |
19,022,958 |
|
Valuation allowance |
|
|
(22,217,248 |
) |
|
|
(19,315,657 |
) |
Mineral properties |
|
$ |
(297,552 |
) |
|
$ |
(292,699 |
) |
Net deferred tax asset |
|
$ |
— |
|
|
$ |
— |
|
|
| Schedule of Reconciliation of Income Tax Benefit Calculated at U.S. Federal Statutory Income Tax Rate to Income Tax Expense |
The following table presents a reconciliation of income tax benefit calculated at the U.S. federal statutory income tax rate to the Company's income tax expense for the years ended June 30, 2026 and June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
|
|
|
2025 |
|
|
|
|
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
U.S. federal statutory income tax benefit |
|
$ |
(3,266,628 |
) |
|
|
21.00 |
% |
|
$ |
(1,896,547 |
) |
|
|
21.00 |
% |
State and local income tax, net of federal effect |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign tax effects |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Changes in tax laws or rates enacted in the current period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Effect of cross-border tax laws |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Tax credits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Change in valuation allowances |
|
|
2,905,021 |
|
|
|
-18.68 |
% |
|
|
1,906,164 |
|
|
|
-21.11 |
% |
Nontaxable or nondeductible items: |
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
549,709 |
|
|
|
-3.53 |
% |
|
|
— |
|
|
|
— |
|
Other nondeductible items |
|
|
(183,249 |
) |
|
|
1.18 |
% |
|
|
482 |
|
|
|
-0.01 |
% |
Change in estimates |
|
|
— |
|
|
|
— |
|
|
|
9,150 |
|
|
|
-0.10 |
% |
Changes in unrecognized tax benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Other adjustments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Income tax expense |
|
$ |
4,853 |
|
|
|
-0.03 |
% |
|
$ |
19,249 |
|
|
|
-0.22 |
% |
|