NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) valid transactions are recorded; and (3) transactions are recorded in the proper period in a timely manner to produce consolidated financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.

Mineral and Mining Rights

Costs of acquiring mineral rights, including cash consideration, the fair value of equity consideration and other directly attributable acquisition costs, are capitalized as "Mineral and mining rights" within Other Assets in the accompanying balance sheets. Capitalized mineral rights are stated at cost less accumulated impairment, if any. The Company does not amortize capitalized mineral rights during the exploration stage; once a property enters the development or production stage, the Company will adopt a unit-of-production amortization policy based on the related proven and probable reserves. Net smelter return royalties retained by the seller and contingent on future production are not recognized as separate liabilities and are accounted for as a reduction of revenue in the periods in which the related production occurs.

Exploration and Evaluation Expenditures

The Company has not established proven or probable reserves within the meaning of ASC 930-10 or Item 1300 of Regulation S-K on any of its mineral properties. In accordance with ASC 930-360-25-1, all costs incurred for the exploration and evaluation of mineral properties before the establishment of proven and probable reserves — including the cost of geological, geochemical and geophysical surveys; sampling and assaying; qualified-person reports and technical studies; preliminary economic assessments, pre-feasibility and feasibility studies; environmental and permitting work performed prior to commencement of development; and minimum work-program expenditures required under property agreements — are charged to operating expense as incurred. The Company will reassess this policy at such time, if any, as proven and probable reserves are established, at which time post-reserve development costs would be capitalized.

Impairment of Long-Lived Assets — Mineral and Mining Rights

The Company evaluates the carrying value of its capitalized mineral and mining rights for impairment in accordance with ASC 930-360-35 whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Indicators of impairment include: (i) significant adverse changes in the legal, regulatory, environmental or political environment affecting the Properties; (ii) significant adverse changes in the price environment for rare earth elements; (iii) significant adverse changes in the Company’s forecast of, or plans for, the exploration, development or operation of the Properties; (iv) the Company’s inability to obtain financing necessary to advance exploration or development; (v) cancellation, expiration or material modification of the Properties Agreement, including loss of the unpatented mining claims comprising the Kingman Project, default under the minimum work-program commitments or failure to make scheduled installment payments; and (vi) a determination by management to abandon, sell or otherwise dispose of the Properties. Because the Company is in the exploration stage and has not declared any mineral resources or reserves, the Company supplements the recoverability assessment under ASC 360-10-35 with a qualitative assessment of (a) management’s intent and ability to continue to explore the Properties and (b) the extent to which exploration work performed to date supports the carrying value. If an impairment is identified, the carrying value of the affected mineral rights is reduced to its estimated fair value, with the resulting charge recorded in operating expense. Impairment losses are not reversed in subsequent periods. During the year ended April 30, 2026, the Company discontinued operations related to consulting and poultry farming. Management determined that it was necessary to fully impair the assets related to those operations and recognized $103,745 in impairment expense.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company accounts for cash and cash equivalents under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 305, “Cash and Cash Equivalents,” and considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Revenue

The Company records transactions in accordance with ASU 2014-09, “Revenue from Contracts with Customers” and all subsequent amendments to the ASU (collectively, “ASC 606”). In accordance with ASC 606, revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract with the customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4. Allocate the transaction price. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Historically, the Company generated revenue primarily from two sources: (1) providing Poultry Farming Consultancy services, and (2) sales of subscription plans for its API service.

(1) The revenue for our Poultry Farming Consultancy is acknowledged at a specific moment when the consulting services are completed and delivered in accordance with contractual terms. The Company assumes no responsibility for any inability to fulfill obligations arising from circumstances beyond reasonable control. We may request deposits from clients before delivering services upon order placement. If deposits are obtained before providing services, the Company acknowledges deferred revenue until the service delivery is completed. Payment is typically received prior to the service delivery. During the year ended April 30, 2025, we generated revenue from the providing of our Poultry Farming Consultancy services in the amount of $23,726. The deferred income related to the providing Poultry Farming Consultancy services was $0 as of April 30, 2025. The services were provided by the Company’s CEO. This has now been memorialized as discontinued operations.

(2) The Subscription Plan for API service is provided on the basis of the amount of requests per month. The service covers a variety of 12 common chicken breeds. It provides users with an access to a comprehensive database that includes detailed information on symptoms, potential causes, and effective management strategies for each breed-specific condition. To access Poultry Wellness Guide API, a subscription purchase is required. Subscriptions must comply with our Terms of Service. Subscription revenue for the API service is recognized ratably over the subscription period. Subscription payments are received in advance of the service period. Such advance payments are recorded as deferred income upon receipt and are recognized as revenue on a straight-line basis over the subscription period the service is provided, reflecting the transfer of control and continuous delivery of the service to the customer. During the year ended April 30, 2025, we generated revenue from the sale of API requests in the amount of $26,179. The deferred income related to the sales of subscription plans for the API service was $5,272 as of April 30, 2025. This has now been memorialized as discontinued operations.

During the year ended April 30, 2026, we have generated revenue (prior business activity) from the sale of Poultry Farming Consultancy in the amount of $0 and revenue from the sale of API requests in the amount of $0. The deferred income was $0 as of April 30, 2026. In addition, we have generated no revenue to date from our new business activity in the mineral mining sector for the year ended April 30, 2026.

Advertising and Promotion Costs

Advertising and promotion costs are expensed as incurred. During the years ended April 30, 2026 and 2025, this cost was $5,952 and $10,150, respectively.

Receivables

Receivables are carried at net realizable value, representing the outstanding balance less an allowance for doubtful accounts based on a review of all outstanding amounts. Management determines the allowance for doubtful accounts by regularly evaluating individual receivables, and receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. We had an allowance for doubtful accounts of $0 as of April 30, 2026 and 2025.

Foreign Currency

The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies, and management has adopted ASC 830, “Foreign Currency Translation Matters”. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency-denominated transactions or balances are included in the statement.

Intangible Asset

The Company accounts for its intangible assets in accordance with ASC Subtopic 350-40, “Internal-Use Software-Computer Software Developed or Obtained for Internal Use”, and ASC Subtopic 360-10, “Accounting for the Impairment or Disposal of Long-Lived Assets”. ASC Subtopic 350-40 requires assets to be recorded at the cost to develop the asset and requires an intangible asset to be amortized over its useful life and for the useful life to be evaluated every reporting period to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life.

Income Taxes and Valuation Allowance

The Company accounts for income taxes under ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. All of the Company’s deferred tax assets were offset by a full valuation allowance at April 30, 2026 and 2025.

Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of April 30, 2026. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.

Related Parties

The Company follows ASC 850-10, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions.

Pursuant to ASC 850-10-20, related parties include: a) affiliates of the Company; b) principal owners of the Company; c) management of the Company; d) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and e) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.

Material related party transactions are required to be disclosed in the consolidated financial statements, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which statements of operation are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which statements of operations are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

Earnings (loss) per share

The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires the presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal.

Segment Reporting

The Company has determined, in accordance with ASC 280, Segment Reporting, that it operates as a single operating and reportable segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer, Jamal Khurshid, who reviews financial information about the Company on a consolidated basis for purposes of assessing performance, making operating decisions and allocating resources. The CODM does not receive, and does not regularly review, separate financial information for any disaggregated business activity, product line or geographic area. Accordingly, the Company has a single operating and reportable segment.

The Company’s single reportable segment consists of (i) for the periods through the December 2025 change in control of the Company and the January 2026 change in the Company’s plan of business, the provision of consulting services and the sale of API requests to businesses engaged in poultry farming (which line of business has since been discontinued), and (ii) following the January 2026 change in business plan, the acquisition, exploration and (if warranted) future development of mineral rights for the mining and sale of rare earth minerals.

Following the January 2026 change in business plan, the Company is an exploration-stage entity with no current revenue. The segment measure of profit or loss used by the CODM is consolidated net loss as reported in the Company’s statements of operations, which is the same measure used in measuring the Company’s consolidated net loss under GAAP. The CODM uses consolidated net loss, together with cash on hand, working capital and the status of the Company’s outstanding payables and related-party loans, to monitor financial performance and to make decisions regarding allocation of the Company’s limited capital among (i) costs of property maintenance (including installment payments owed under the Properties Agreement and minimum work-program commitments), (ii) future exploration expenditures, (iii) general and administrative expenses, including legal, audit, accounting, professional and SEC-reporting expenses, and (iv) costs of pursuing additional financing, including in connection with the Equity Purchase Agreement and the registration statement that relates thereto.

Significant Segment Expenses. In accordance with ASC 280-10-50-28A, the significant segment expenses regularly provided to the CODM and included in the segment measure of net loss are the categories of general and administrative expenses shown on the face of the Company’s statements of operations (which currently consist principally of professional fees, including legal, audit and accounting fees, and consulting fees) and, for periods prior to the January 2026 change in business plan, the cost of consulting services and API requests revenues attributable to the discontinued poultry-farming line of business. The CODM does not regularly review additional disaggregations of these expense categories.

Other Segment Items and Reconciliation. In accordance with ASC 280-10-50-29(f), there are no "other segment items" required to be disclosed separately, because the Company’s segment measure of net loss includes all items of revenue, expense, gain and loss reported on the face of the Company’s statements of operations and there are no items that are not regularly provided to the CODM but that are included in consolidated net loss. The Company’s segment revenue, segment net loss and segment assets are equal in all respects to the Company’s consolidated revenue, consolidated net loss and consolidated assets reported in the accompanying financial statements; accordingly, no reconciliation is presented.

Geographic Information. All of the Company’s revenue for the periods presented (which is attributable to the now-discontinued poultry-farming consultancy and API-request line of business) was generated from customers located in the Republic of the Philippines and the United States. All of the Company’s long-lived assets, including the Mining Assets associated with the Hicks Dome Project and the Kingman Project, are located in the United States.

Information about Major Customers. For the periods prior to the January 2026 change in business plan, the Company derived a substantial portion of its revenue from a small number of customers in the discontinued poultry-farming line of business. The Company is not currently dependent on any customer because it has no current revenue.

Stock-Based Compensation

FASB ASC 718 “Compensation – Stock Compensation,” prescribes accounting and reporting standards for all stock-based payments award to employees, including employee stock options, restricted stock, employee stock purchase plans and stock appreciation rights, may be classified as either equity or liabilities. The Company determines if a present obligation to settle the share-based payment transaction in cash or other assets exists. A present obligation to settle in cash or other assets exists if: (a) the option to settle by issuing equity instruments lacks commercial substance or (b) the present obligation is implied because of an entity’s past practices or stated policies. If a present obligation exists, the transaction should be recognized as a liability; otherwise, the transaction should be recognized as equity.

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 “Equity – Based Payments to Non-Employees.” Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. For the years ended April 30, 2026 and 2025, the Company had share-based compensation of $13,316,280 and $0, respectively.

Recent Accounting Pronouncements

We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. For the year ended April 30, 2026, we adopted the ASU 2023-09, “Income Taxes (Topic 740) Improvement to Income Tax Disclosure”, to appropriately reconcile to specific tax rate provisions.