Quarterly ResultMay 5, 2026, 02:42 PM
MineralRite Q1 Net Loss $(146,895); Going Concern Doubt Remains
AI Summary
MineralRite Corp reported a net loss of $(146,895) for Q1 2026, widening from $(81,688) in Q1 2025, with no revenue generated. The company continues to face substantial doubt about its ability to continue as a going concern due to ongoing operating losses and insufficient cash. Management is actively pursuing capital formation and revenue-generating initiatives to address these challenges.
Key Highlights
- Reported Q1 2026 net loss of $(146,895), compared to a net loss of $(81,688) in Q1 2025.
- Basic loss per share for Q1 2026 was $(0.000024), compared to $(0.000019) in Q1 2025.
- Total expenses increased to $139,164 in Q1 2026 from $81,688 in Q1 2025.
- Cash and cash equivalents increased to $22,397 as of March 31, 2026, from $11,617 at Dec 31, 2025.
- Net cash used in operating activities improved to $(67,763) in Q1 2026 from $(103,739) in Q1 2025.
- Acquired Peeples Inc. and California Precious Metals LLC in Dec 2024, valuing Peeples' mine tailings at $432 million.
- Issued 18,000,000 common shares in Q1 2026 through conversion of Series C Preferred Stock.
- Outstanding debt (Notes Payable) increased to $35,520 as of March 31, 2026, from $15,520 at Dec 31, 2025.