v3.26.3
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

%