Thu, Sep 26, 9:19 PM (8 days ago)
Natural Resource Holdings, Inc. (NRHI) filed an amendment to its 10-K for the fiscal year ending April 30, 2024, primarily correcting inaccuracies in the ownership disclosures. The company reported no revenue for both fiscal years 2024 and 2023, with a significant increase in net loss from $40,744 in 2023 to $2,047,358 in 2024, attributed to soaring operating expenses totaling $2,040,568, primarily due to management salaries. Current liabilities slightly increased to $167,597 from $165,198, reflecting accrued interest growth. The company holds mining property rights valued at $38,747, with plans to commence exploration activities by late 2024. Cash flows showed a net cash outflow from operations of $41,044, while financing activities provided $80,281, mainly through convertible notes. The company remains in a working capital deficiency and has received an audit opinion expressing substantial doubt about its ability to continue as a going concern. Future financing will likely involve further equity or debt issuances, which may dilute existing shareholder value. The company’s market position remains precarious due to limited trading activity and an ongoing lack of operational revenue.