v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (46,694,000) $ (2,800,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 1,492,000 21,000
Amortization of debt discount and issuance costs 11,979,000
Gain on settlement and extinguishment of accounts payable 199,000
Non-cash lease expense 41,000
Realized gain on sale of gold (2,938,000)
Realized gain on marketable securities (484,000)
Change in fair value of marketable securities 134,000
Change in fair value of embedded derivative (497,000)
Realized loss on extinguishment of convertible debentures 3,057,000
Realized loss on investment 119,000
Stock-based compensation expense 25,370,000 2,074,000
Deferred income taxes (565,000)
Changes in operating assets and liabilities:    
Accounts receivable 11,000
Lease receivables 17,000
Sales tax receivable (9,000)
Prepaid expenses and other assets (1,934,000) (70,000)
Accounts payable and accrued expenses 780,000 (555,000)
Operating lease liabilities (42,000)
Net cash used in operating activities (10,179,000) (1,115,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (23,900,000)
Proceeds from the sale of marketable securities 10,190,000
Proceeds from the sale of non-marketable equity investments 25,000
Proceeds from sale of gold 26,410,000
Purchase of gold assets (14,225,000)
Net cash used in investing activity (1,500,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock under at-the-market offerings, net of issuance costs 3,882,000
Proceeds from sale of common stock and warrants, net of issuance costs 818,000
Repayment of finance obligation (546,000)
Net proceeds from issuance of common stock in underwritten public offering 37,184,000
Proceeds from issuance of equity in subsidiary to non-controlling interest holders 225,000
Repayment of convertible debentures (38,500,000)
Net cash (used in) provided by financing activities (1,637,000) 4,700,000
Effect of exchange rate change on cash (141,000)
Net (decrease) increase in cash (13,457,000) 3,585,000
Cash, beginning of the period 20,316,000 142,000
Cash, end of the period 6,859,000 3,727,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 403,000
Cash paid during the period for income taxes
Noncash investing and financing activities:    
Common stock issued in settlement of accounts payable 189,000
Dividend payable on preferred stock charged to additional paid-in-capital 2,000 2,000
Conversion of convertible debentures into common stock $ 15,760,000

Source

PDF HTML
10-Q Filing
ZIP
XBRL