| Income Statement | 2024-10-31 | 2024-07-31 | ||
|---|---|---|---|---|
| Mineral property and royalty revenues | 87,281 | 36,139 | ||
| Stock compensation | 306,000 | NaN | ||
| Professional fees | 375,483 | 365,775 | ||
| General and administrative | 341,869 | 288,740 | ||
| Depletion expense | 35,065 | 18,251 | ||
| Consulting fees | 24,375 | 56,035 | ||
| Total operating expenses | 1,082,792 | 728,801 | ||
| Net operating loss | -995,511 | -692,662 | ||
| Interest expense | 7,958 | 35,050 | ||
| Finance charges | NaN | 26,817 | ||
| Gain (loss) on extinguishment of debt | NaN | 1,043,542 | ||
| Amortization of debt discount | 13,100 | NaN | ||
| Total other income (expenses) | -21,058 | 981,675 | ||
| Net loss | -1,016,569 | 289,013 | ||
| Series c preferred stock dividends | 317,064 | 24,243 | ||
| Net loss to common shareholders | -1,333,633 | 264,770 | ||
| Basic EPS | -0.01 | 0.003 | ||
| Diluted EPS | -0.01 | 0.003 | ||
| Basic Average Shares | 99,855,954 | 84,036,256 | ||
| Diluted Average Shares | 99,855,954 | 84,036,256 | ||
FORMATION MINERALS, INC. (FOMI)
FORMATION MINERALS, INC. (FOMI)