What changed in this filing

/stocks — the workspaceLOADING

Item 2. Management’s Discussion and Analysis

2025-12-29 compared with 2025-12-29 · 33 added, 37 removed, 38 unchanged (65% of the section changed)

11 unchanged sentences

and further implement our business plan.

and Nine Months Ended September 30, 2025 and 2024

and Six Months Ended June 30, 2025 and 2024

and administrative expenses

and administrative expenses increased to $39,646 for the three months ended September 30, 2025, from $2,580 for the three months

ended September 30, 2024.

General and administrative expenses increased to $140,668 for the nine months ended September 30, 2025,

from $27,078 for the nine months ended September 30, 2024.The increase was primarily because of the expenses necessary to process

our SEC filings.

fees decreased to $1,968 for the three months ended September 30, 2025, from $19,125 for the three months ended September 30,

Professional fees decreased to $139,142 for the nine months ended September 30, 2025, from $209,828 for the nine months

ended September 30, 2024.

The decrease was primarily because of the expenses incurred in the nine months ended September 30, 2024

for the transfer of Sovryn to the Investors that resulted in a $9,159,907 reduction in principal on the senior secured notes on

February 1, 2023.

and administrative expenses increased to $40,046 for the three months ended June 30, 2025, from $9,026 for the three months ended

June 30, 2024.

General and administrative expenses increased to $101,022 for the six months ended June 30, 2025, from $24,498

for the six months ended June 30, 2024.The increase was primarily because of the expenses necessary to process our SEC filings.

fees decreased to $80,270 for the three months ended June 30, 2025, from $66,000 for the three months ended June 30, 2024.

fees decreased to $137,174 for the six months ended June 30, 2025, from $190,703 for the six months ended June 30, 2024.

was primarily because of the expenses incurred in the quarter ended June 30, 2024 for the transfer of Sovryn to the Investors

that resulted in a $9,159,907 reduction in principal on the senior secured notes on February 1, 2023.

expense and interest expense

amortization expense was $Nil for the three months ended September 30, 2025 and September 30, 2024.

Total amortization expense

decreased to $Nil for the nine months ended September 30, 2025, from $130,226 for the nine months ended September 30, 2024.

expense is derived from discounts recognized when we issued debt and then amortized the discount over the terms of the debt.

of our debt matured in 2023 and the discounts were fully amortized in 2023.

amortization expense was $Nil for the three months ended June 30, 2025 and June 30, 2024.

Total amortization expense decreased

to $Nil for the six months ended June 30, 2025, from $130,226 for the six months ended June 30, 2024.

Amortization expense is

derived from discounts recognized when we issued debt and then amortized the discount over the terms of the debt.

debt matured in 2023 and the discounts were fully amortized in 2023.

In 2024, we amortized all the remaining debt discounts.

loss increased to $646,355 for the three months ended September 30, 2025, from $626,446 for the three months ended September 30,

Net loss decreased to $2,074,314 for the nine months ended September 30, 2025, from $2,130,550 for the nine months ended

September 30, 2024.

The decrease for the nine-month periods was primarily the result of decreases in amortized interest expense

and professional fees that was partially offset by an increase in general and administrative expenses, particularly in the three

months ended September 30, 2025.

The net loss per basic and diluted share was $0.0004 for the three-month periods ended September

30, 2025 and 2024, respectively and $0.0013 for the nine-month periods ended September 30, 2025 and 2024, respectively, with basic

and diluted weighted averages shares outstanding of 1,603,095,243 for all of the respective periods.

loss increased to $718,482 for the three months ended June 30, 2025, from $673,192 for the three months ended June 30, 2024.

loss decreased to $1,427,959 for the six months ended June 30, 2025, from $1,504,104 for the six months ended June 30, 2024.

decrease for the six-month periods was primarily the result of decreases in amortized interest expense and professional fees that

was partially offset by an increase in general and administrative expenses, particularly in the three months ended June 30, 2025.

The net loss per basic and diluted share was $0.0004 for the three-month periods ended June 30, 2025 and 2024, respectively and

$0.0009 for the six-month periods ended June 30, 2025 and 2024, respectively, with basic and diluted weighted averages shares

outstanding of 1,603,095,243 for all of the respective periods.

and Capital Resources

and Working Capital

at September 30, 2025, we had $Nil in cash and a $22,460,609 working capital deficit, compared to cash of $Nil and working capital

at June 30, 2025, we had $Nil in cash and a $21,814,254 working capital deficit, compared to cash of $Nil and working capital

deficit of $20,386,294 as at December 31, 2023.

2 unchanged sentences

will require additional capital to meet our long- and short-term operating requirements.

For the nine months ended September 30,

For the six months ended June 30, 2025,

our principal source of liquidity was our cash that we obtained from funds provided by the Investors.

Our principal use

of cash was to fund operations.

We expect that the principal uses of cash in the future will be for continuing operations associated

with rolling out our business plan and repayment of notes payable that are not converted into our Common Stock or renegotiated.

Our principal use of cash

was to fund operations.

We expect that the principal uses of cash in the future will be for continuing operations associated with

rolling out our business plan and repayment of notes payable that are not converted into our Common Stock or renegotiated.

Cash Used in Continuing Operating Activities

used $156,471 in cash from continuing operating activities for the nine months ended September 30, 2025, compared to cash used

of $219,647 from continuing operating activities during the nine months ended September 30, 2024.

used $128,690 in cash from continuing operating activities for the six months ended June 30, 2025, compared to cash used of $215,522

from continuing operating activities during the six months ended June 30, 2024.

Cash Provided by Financing Activities

cash provided by financing activities was $156,471 during the nine months ended September 30, 2025, compared to $219,647 of cash

provided by financing activities during the nine months ended September 30, 2024.

cash was used in investing activities during the nine months ended September 30, 2025 and 2024.

cash provided by financing activities was $128,690 during the six months ended June 30, 2025, compared to $215,522 of cash provided

by financing activities during the six months ended June 30, 2024.

cash was used in investing activities during the six months ended June 30, 2025 and 2024.

accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

13 unchanged sentences

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 2. Management’s Discussion and Analysis