10-K - Natural Resource Holdings, Inc. (0001680689) (Filer)

Wed, Jul 17, 5:14 PM (52 days ago)

Natural Resource Holdings, Inc. reported no revenue for the fiscal year ended April 30, 2024, and incurred a net loss of $2,047,358, a significant increase from the $40,744 loss in the prior year. The increase in net loss is primarily due to a substantial rise in operating expenses, which totaled $2,040,568, including $2,000,000 in stock-based compensation for management salaries. Current liabilities increased slightly to $167,597, resulting in a working capital deficiency of the same amount. The company issued 5,000,000 shares of common stock for management compensation and 500,000 shares for debt settlement. Future funding is expected through the issuance of securities. The going concern status is uncertain due to recurring losses and working capital deficiencies. The company plans to focus on mining operations, with new mining property rights acquired and exploration expected to commence by October 2024. There were no significant changes in internal controls over financial reporting.