v3.26.3
SEGMENT INFORMATION
 9 Months Ended
Aug. 31, 2026
SEGMENT INFORMATION  
SEGMENT INFORMATION

13.SEGMENT INFORMATION

Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer. The Company has determined that it operates in a single operating segment, as the Company is an integrated uranium exploration and SMR development operation. Substantially all of the Company’s long-lived assets are located in the United States.

The CODM receives and reviews financial information on a consolidated basis. The CODM evaluates performance and allocates resources based on consolidated net loss, as presented in the Company’s unaudited condensed consolidated interim statement of operations, and monitors budget-to-actual variances for significant expense categories given their direct relationship to cash burn. The CODM also reviews the consolidated balance sheet to assess liquidity.

Segment assets are the same as consolidated total assets of $40,252,095 as of August 31, 2026, and $2,887,962 as of November 30, 2025.

The table below summarizes the significant expense categories regularly reviewed by the CODM, and reconciles to the Company’s condensed consolidated net loss as presented in the unaudited condensed consolidated statement of operations:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

For the three 

  ​ ​ ​

For the three 

  ​ ​ ​

For the nine

  ​ ​ ​

For the nine

​

​

months ended 

​

months ended 

​

months ended 

​

months ended 

​

​

August 31, 2026

​

August 31, 2025

​

August 31, 2026

​

August 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

General and administrative

​

​

​

​

​

​

​

​

​

​

​

​

Office and administrative

​

$

644,241

​

$

51,325

​

$

1,882,926

​

$

142,905

Professional fees

​

​

1,176,481

​

​

906,228

​

​

3,646,242

​

​

2,119,681

Salaries and wages(1)

​

​

1,147,096

​

​

—

​

​

4,500,942

​

​

—

Other general and administrative items (2)

​

​

396,509

​

​

172,456

​

​

1,379,841

​

​

490,951

Total general and administrative

​

  ​

(3,364,327)

​

  ​

(1,130,009)

​

  ​

(11,409,951)

​

  ​

(2,753,537)

Exploration expense

​

​

(360,486)

​

​

(147,297)

​

​

(1,084,406)

​

​

(211,280)

Change in fair value of warrant liability

 

​

8,075,000

 

​

—

 

​

(9,675,724)

 

​

—

Other segment items(3)

 

​

(4,246)

 

​

(5,025)

 

​

(17,807)

 

​

(9,615)

Net income (loss)

​

$

4,345,941

​

$

(1,282,331)

​

$

(22,187,888)

​

$

(2,974,432)

(1)

Inclusive of stock-based compensation of $944,016 and $4,044,926 for the three and nine months ended August 31, 2026, respectively.

(2)

Other general and administrative items consist of business development, amortization and depreciation, rent expense, investor relations, licensing fee expense, travel and entertainment, none of which is individually significant.

(3)

Other segment items consist of interest income, and loss on foreign currency transactions, none of which is individually significant.