Greenland Mines Ltd (KLTO) Form 10-Q — May 20, 2026
Greenland Mines Ltd (formerly Klotho Neurosciences) reported a net loss of $13.9 million for Q1 2026, driven by a $2.0 million impairment of biotech assets and high operating costs following its strategic pivot to mining. The company completed the acquisition of Greenland Mines Corp. for approximately $48.4 million, primarily in preferred equity, and changed its name and ticker to GRML. Despite raising $7.75 million in a private placement, the company disclosed substantial doubt about its ability to continue as a going concern, citing recurring losses and a $35 million accumulated deficit.
Key figures
- Total Assets
- 59737093
- Cash Position
- 10002477
- Shares Outstanding
- 121238660
- Deal Value Usd
- 48416474
- Impairment Expense
- 2045253
- Operating Expenses
- 9512289
- Preferred Shares Issued
- 47940
- Preferred Shares Fair Value
- 47940000
- Warrant Liability Fair Value
- 7714794
Price after filing
Close on the filing date to close N calendar days later (from $0.39). Historical, not a forecast.
AI analysis
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