NORTHERN MINERALS & EXPLORATION LTD. (NMEX) Form 10-Q — Jun 15, 2026
Northern Minerals & Exploration Ltd. (NMEX) reported a net loss of $232,258 for the nine months ended April 30, 2026, driven by operating expenses of $217,762 against minimal revenue of $22,901 from its oil and gas interests. The company holds only $16,684 in cash against total liabilities of $645,542, including a $377,000 line of credit with a former director and a defaulted $15,000 loan. The filing includes explicit going-concern language, stating that substantial doubt exists regarding the company's ability to continue as a going concern due to its accumulated deficit of $4.15 million and reliance on equity financing to fund operations.
Key figures
- Revenue
- 22901
- Total Debt
- 645542
- Total Assets
- 233436
- Cash Position
- 16684
- Shares Outstanding
- 111488932
- Bitcoin Carrying Value
- 38220
- Bitcoin Unrealized Loss
- 3919
- Defaulted Loan Principal
- 15000
- Related Party LOCBalance
- 377000
AI analysis
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