What changed in this filing

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Item 1. Financial Statements

2026-04-14 compared with 2026-01-12 · 71 added, 54 removed, 252 unchanged (33% of the section changed)

Financial Statements.

Our unaudited condensed financial statements for the three-month period ended November 30, 2025 form part of this quarterly report.

Our unaudited condensed financial statements for the six-month period ended February 28, 2026 form part of this quarterly report.

They are stated in United States Dollars (US$) and are prepared in accordance with United States generally accepted accounting principles.

10 unchanged sentences

Total Liabilities

STOCKHOLDERS' EQUITY ( DEFICIT )

STOCKHOLDERS' EQUITY

Share Capital (Note 7)

1 unchanged sentence

Issued and outstanding:

10,339,394 common shares at November 30, 2025 and August 31, 2025

10,339,394 common shares at February 28, 2026 and August 31, 2025

Additional paid-in capital (Note 8)

Equity ( Deficit ) attributable to shareholders of the Company

Equity attributable to shareholders of the Company

Non-controlling interest

Total Stockholders' Equity ( Deficit )

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY ( DEFICIT )

Total Stockholders' Equity

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

14 unchanged sentences

Common stock issued for cash

Non controlling interest

Comprehensive loss

7 unchanged sentences

Balance, November 30, 2025

Stock based compensation

Comprehensive Income

Balance, February 28, 2026

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

3 unchanged sentences

THREE MONTHS ENDED

SIX MONTHS ENDED

Accounting and audit

10 unchanged sentences

Foreign exchange gain (loss)

Realized loss on marketable securities

Realized foreign exchange loss on marketable securities

Unrealized gain on marketable securities

Net loss for the period

Net loss attributable to:

Realized gain (loss) on marketable securities

Realized foreign exchange gain (loss) on marketable securities

Unrealized gain (loss) on marketable securities

Gain from mineral property sale

Net income (loss) for the period

Net income (loss) attributable to:

Common shareholders

Non controlling interest

Basic and diluted loss per share

Basic and diluted

Basic and diluted income (loss) per share

Weighted average number of common shares outstanding

Basic and diluted

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

2 unchanged sentences

(Expressed in U.S.

Three Months Ended

SIX MONTHS ENDED

Cash flows used in operating activities

Net Income (Loss)

Changes to reconcile net loss to net cash used in operating activities

Unrealized gain on marketable securities

Stock based compensation

Income from mineral property sale

Unrealized (gain) loss on marketable securities

Loss on disposal of marketable securities

Foreign exchange loss on disposal of marketable securities

Recovery of exploration costs

Change in non-cash working capital items:

4 unchanged sentences

Net cash used in operating activities

Cash flows provided from investing activities

Cash flows used in investing activities

Proceeds from sale of marketable securities

Net cash provided from investing activities

Decrease in cash and cash equivalents

Proceeds from sale of mineral property

Net cash used in investing activities

Increase (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of period

6 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)

November 30, 2025

February 28, 2026

(Expressed in U.S.

The unaudited condensed consolidated interim financial statements for the period ended November 30, 2025 included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.

The unaudited condensed consolidated interim financial statements for the period ended February 28, 2026 included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.

Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.

5 unchanged sentences

The accompanying unaudited condensed consolidated interim financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

The Company incurred net cash outflows from operating activities of $ 56,456 for the three-months ended November 30, 2025 ($ 103,072 for the three-months ended November 30, 2024) and as at November 30, 2025 has incurred cumulative losses of $ 16,106,523 that raises substantial doubt about its ability to continue as a going concern.

The Company incurred net cash outflows from operating activities of $ 205,916 for the six-months ended February 28, 2026 ($ 218,599 for the six-months ended February 28, 2025) and as at February 28, 2026 has incurred cumulative losses of $ 15,717,491 that raises substantial doubt about its ability to continue as a going concern.

Management has been able, thus far, to finance the operations through equity financing and cash on hand.

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Cash and cash equivalents include cash in bank accounts and money market funds with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.

As of November 30, 2025 and August 31, 2025, the Company had cash only.

As of February 28, 2026 and August 31, 2025, the Company had cash only.

Accounting Estimates

28 unchanged sentences

Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method.

Dilutive potential common shares include outstanding stock options.

Dilutive potential common shares include warrants and outstanding stock options.

Dilutive potential commons shares included:

THREE MONTHS ENDED

SIX MONTHS ENDED

Weighted average common shares outstanding

Effect of dilutive shares

Financial Instruments

25 unchanged sentences

On February 25, 2022, the Company staked unpatented mineral claims in Esmeralda County, Nevada for cash consideration of $ 10,500 .

During the three-months ended November 30, 2025, the Company expensed $ 8,479 relating to storage expenses.

During the three-month period ended November 30, 2024, the Company expensed $ 8,490 in expenses relating to travel and storage expenses.

On January 21, 2026, the Company reported that the closing conditions have been met on the sale of the West Tonopah lithium project.

The Company received $ 505,596 for the sale of mineral claims.

The sale price included $ 5,596 as a recovery of BLM bond premiums included in exploration expenses, $ 11,000 for the remaining BLM claims paid included in prepaids and $ 478,500 gain on sale of the property.

During the six-months ended February 28, 2026, the Company expensed $ 13,336 relating to storage and advisor expenses.

During the six-month period ended February 28, 2025, the Company expensed $ 13,963 in expenses relating to advisor, travel and storage expenses.

Travel, Storage & Misc

14 unchanged sentences

As at the period ended date of November 30, 2025, there have been no operations in the JV and only office costs have been incurred.

The EMS is still in the research and development phase and it has not obtained commercial or operational feasibility as at the period end date of November 30, 2025.

The EMS is still in the research and development phase and it has not obtained commercial or operational feasibility as at the period end date of February 28, 2026.

On November 19, 2024 the USPTO notified the Company that patent number 12149091 was issued for EMS (Energy Management System).

During the three months ended November 30, 2025 and 2024 the Company incurred the following research and development expenses:

During the six-months ended February 28, 2026 and 2025 the Company incurred the following research and development expenses:

Clean Technologies

1 unchanged sentence

RELATED PARTY TRANSACTIONS

For the three-month periods ended November 30, 2025, and November 30, 2024, the Company was party to the following related party transactions:

As at November 30, 2025, the Company had a balance owing of $ 31,204 owing to the President (August 31 2025, $ 27,861 )

The Company incurred $ 7,500 (November 30, 2024:

For the six-month periods ended February 28, 2025 and 2025, the Company was party to the following related party transactions:

As at February 28, 2026, the Company had a balance owing of $ 0 owing to the President (August 31 2025, $ 27,861 )

The Company incurred $ 15,000 (February 28, 2025:

$ 15,000 ) to the CFO of the Company in consulting fees.

The Company incurred $ 0 (November 30, 2024:

The Company incurred $ 0 (February 28, 2025:

$ 184 ) to a director of the Company in geological consulting services

The Company incurred $ 0 (November 30, 2024 $ 2,173 ) in total to two directors of the Company for director fees.

The Company incurred $ 0 (February 28, 2025:

$ 4,346 ) in total to two directors of the Company for director fees.

SHARE CAPITAL

The Company is authorized to issue up to 500 million shares.

During the three-month period ended November 30, 2025 and 2024 the Company did not issue any shares.

As at November 30, 2025 the Company had 10,339,394 (August 31, 2025:

10,339,394 ) shares issued and outstanding.

As at November 30, 2025 the Company had 175,000 (August 31 2025 - 175,000 ) shares held in escrow, that are included in the total shares issued and outstanding.

During the six -month periods ended February 28, 2026 and 2025 the Company did not issue any shares.

As at February 28, 2026 the Company had 10,339,394 (August 31, 2025 - 10,339,394 ) shares issued and outstanding.

As at February 28, 2026 the Company had 175,000 (August 31 2025 - 175,000 ) shares held in escrow, that are included in the total shares issued and outstanding.

125,000 of the shares held in Escrow are being reviewed by all parties with respect to the necessary probate and other paperwork to be released or cancelled with respect to the issuance of the Energy Management System Patent, United States Patent Trademark Office (USPTO) #12149091, as per the terms and conditions of the contract.

13 unchanged sentences

Management plans to issue all new option grants under the 2023 Plan and to cancel the 2014 Plan once all currently issued options are either exercised or expire.

During the three-months ended November 30, 2025 the Company did not issue any options.

During the three-months ended November 30, 2025 and 2024, the Company recorded $ 0 as stock-based compensation expenses.

A summary of the changes in stock options for the three-months ended November 30, 2025 is presented below:

During the six-months ended February 28, 2026 the Company issued 100,000 options exercisable at $ 0.135 for a period of three years vesting immediately, valued at $ 7,191 based on inputs to the Black Scholes option pricing model of expected life of three years , volatility of 288 %, dividend rate of 0 % and risk free rate of 3.49 %, to an advisor to the Company and included in exploration expense.

During the six-months ended February 28, 2026 and 2025, the Company recorded $ 7,191 and $ 0 as stock-based compensation expenses.

A summary of the changes in stock options for the six-months ended February 28, 2026 is presented below:

Exercise Price

3 unchanged sentences

Balance, August 31, 2025 (Outstanding & Exercisable)

Balance, November 30, 2025 (Outstanding & Exercisable)

The Company has the following options outstanding and exercisable as at November 30, 2025:

Balance, February 28, 2026 (Outstanding & Exercisable)

The Company has the following options outstanding and exercisable as at February 28, 2026:

Exercise Price

1 unchanged sentence

Balance outstanding and exercisable

During the periods ended November 30, 2025 and November 30, 2024 no warrants were issued.

As of November 30, 2025, the intrinsic value of the warrants was $ 15,350 .

During the periods ended February 28, 2026 and 2025 no warrants were issued.

As of February 28, 2026, the intrinsic value of the warrants was $ 0 .

Exercise Price

1 unchanged sentence

*Each warrant entitles a holder to purchase one common share.

There were 614,000 warrants outstanding as of November 30, 2025.

There were 614,000 warrants outstanding as of February 28, 2026.

The Company has a consulting agreement with the President of the Company for corporate administration and consulting services for $ 9,500 per month plus goods and services tax ("GST") on a continuing basis.

2 unchanged sentences

The Company has a director fee agreement with two directors for CAD$ 1,500 each plus GST per quarter.

The financial terms of the agreement have been suspended since Feb 28, 2025 pending improvement in financing conditions.

The financial terms of the agreement have been suspended since February 28, 2025 pending improvement in financing conditions.

The Company has a rental agreement for a corporate office for CAD$ 725 per month plus GST on a month-to-month basis.

Rent expense for the three-months ended November 30, 2025 and 2024 were $ 1,564 and $ 1,879 , respectively.

Rent expense for the six-months ended February 28, 2026 and 2025 were $ 3,139 and $ 3,666 , respectively.

SEGMENTED INFORMATION

2 unchanged sentences

The Company has three reportable segments:

Natural Resources, Technology and Corporate, none of which are revenue generating as at the period ended date and for the period ended November 30, 2025.

Natural Resources, Technology and Corporate, none of which are revenue generating as at the period ended date and for the period ended February 28, 2026.

Long term Assets

United States of America

Balance November 30, 2025

Balance February 28, 2026

Natural Resources

Consolidated Total

November 30, 2025

Total Assets (Note 4)

February 28, 2026

Other income (Note 4)

Segment Income (Loss)

Long term Assets

4 unchanged sentences

August 31, 2025

Other income (Note 4)

Total Assets (Note 4, 5)

4 unchanged sentences

Fees and Dues

Legal & Professional

Office Expenses

2 unchanged sentences

Management has evaluated subsequent events to the date these consolidated financial statements were issued.

Based on our evaluation the following material events have occurred that require disclosure.

As of December 15th, 2025, 105,000 options with an exercise price of $ 1.00 expired unexercised.

Based on our evaluation no material events have occurred that require disclosure.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements