MINERALRITE Corp

MineralRite Corporation announced that its sponsoring broker-dealer received notice from FINRA that Form 211, filed under SEC Rule 15c2-11, has been processed. This allows the sponsor to initiate priced quotations for RITE common stock in the over-the-counter market, and OTC Markets has removed the 'Unsolicited Quotes Only' warning. The company also highlighted several corporate and business milestones achieved since October 2023, including acquisitions, financial statement audits, SEC filings, and regulatory actions.

MINERALRITE Corp filed its quarterly report (10-Q) for the period ending September 30, 2026. The company reported a significant net loss attributable to common shareholders for both the three-month and nine-month periods. Total assets saw a slight decrease, while liabilities saw a slight increase, leading to a reduction in shareholders' equity. The company continues to face going concern considerations due to ongoing operating losses and insufficient cash for projected needs. No revenue was recognized during the period, though other non-operating income provided some offset.

MineralRite Corp reported a widening net loss for Q2 2026 to $(206,878) and for H1 2026 to $(353,773), with no revenue generated in either period. The company's cash and cash equivalents decreased to $9,580, and management expressed substantial doubt about its ability to continue as a going concern due to ongoing operating losses and insufficient cash. Additionally, MineralRite revised the accounting for its Peeples acquisition, reducing the carrying value of acquired assets to $246 million, and is actively seeking to raise capital through equity placements.

MineralRite Corp has restated its financial statements for March 31, 2026, and December 31, 2025, to correct errors in the accounting treatment and valuation of its December 2024 acquisition of Peeples, Inc. This reevaluation, influenced by SEC staff comments, reclassified the acquisition as an asset acquisition instead of a business combination, resulting in a $186 million reduction in the carrying value of mineral assets and total assets. For the first quarter of 2026, the company reported a net loss of $(146,895), widening from $(81,688) in the prior year, and continues to face substantial doubt about its ability to continue as a going concern.

MineralRite Corporation announced non-reliance on its previously issued financial statements for fiscal year 2025 and Q1 2026. This follows a revision in accounting treatment for the acquisition of Peeples Inc. and California Precious Metals LLC, changing from a business combination to an asset acquisition framework under ASC 805-50, after discussions with the SEC. As a result, the recorded carrying value of acquired assets was reduced by approximately $186 million, from $432 million to $246 million. The company has filed amended reports, and the SEC review process is ongoing.

MineralRite Corp, a mineral and mine management company, detailed its strategic acquisition of California Precious Metals LLC and Peeples, Inc. on December 31, 2024, for approximately $246 million in stock and warrants, plus $5 million in assumed liabilities. This acquisition repositioned the company towards mineral-asset development, particularly the Skull Valley tailings project. The company is in a development stage, focusing on technical evaluation and regulatory compliance, and became a fully reporting company in 2025, achieving "penny stock exempt" status.

MineralRite Corporation announced a private transaction where Abstract Concepts 1618 LLC acquired 6.9 million shares of Series NMC $25 Convertible Preferred Stock and associated warrants from NMC, Inc. This transaction, to which MineralRite was not a party, is expected to result in Abstract beneficially owning approximately 37% of the company's common stock on an as-converted basis. In connection with this, MineralRite and Abstract entered into a Shareholder Control Limitation and Standstill Agreement, capping Abstract's voting power at 45% and prohibiting it from seeking control, thereby preserving the company's governance structure. Management expressed pleasure, viewing the acquisition as a reflection of confidence in the company's operations and strategy.

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.

MineralRite Corporation provided an update on its first-quarter 2026 developments, including the renewal of the mineral lease for its Skull Valley project in Arizona. The company reported ongoing field verification and sampling activities at the project site by its Qualified Person. Additionally, MineralRite is evaluating environmental credit opportunities, expanding its consultant network, and pursuing capital structure initiatives. The company clarified that current activities are solely for evaluation and verification, and no mineral resources or reserves have been established for Skull Valley under Regulation S-K.