What changed in this filing

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Item 2. Management’s Discussion and Analysis

2024-04-26 compared with 2023-10-10 · 40 added, 36 removed, 50 unchanged (60% of the section changed)

23 unchanged sentences

To implement this vision, the Company intends to operate four key business units as set forth below:

an integrated business platform facilitating the buying and selling of minerals and metals as commodities;

Minerals and Metals:

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Issued Accounting Pronouncements

the period ended August 31, 2023, and through the filing of this report, there were several new accounting pronouncements issued by the

Financial Accounting Standards Board (“FASB”).

Each of these pronouncements, as applicable, has been or will be adopted by

the period ended February 29, 2024, and through the filing of this report, there were several new accounting pronouncements issued by

the Financial Accounting Standards Board (“FASB”).

Each of these pronouncements, as applicable, has been or will be adopted

by the Company.

Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact

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have been no changes to the Summary of Significant Accounting Policies described in our Annual Report on Form 10-K filed with the Securities

and Exchange Commission on March 15, 2023.

and Exchange Commission on April 16, 2024.

and Capital Resources

August 31, 2023, the Company had a cash balance of $44,914, as compared to a cash balance of $114 at November 30, 2022.

incurred negative cash flow from operations of $954,702 for the period ended August 31, 2023, as compared to negative cash flow from

February 29, 2024, the Company had a cash balance of $23,226, as compared to a cash balance of $48,197 at November 30, 2023.

incurred negative cash flow from operations of $590,921 for the period ended February 29, 2024, as compared to positive cash flow from

operations of $509 in the comparable prior year period.

The increase in negative cash flows from operations was primarily from

increased travel and professional fees during the current period as the Company shifted its focus and prepared to ramp up

Cash flows from investing activities during the periods ending August 31, 2023 and 2022 were zero and $6,310,

respectively.

Cash flows from financing activities during the periods ended August 31, 2023 and 2022 totaled $999,501 and $16,880, respectively.

The increase was the

result of $1,234,501in proceeds from the issuance of stock, $435,000 in payments for the purchase of treasury shares and increase in related party loan of $183,120.

forward, the Company expects capital expenditures to increase significantly as operations are expanded pursuant to its current

growth plans.

The Company anticipates the requirement to raise significant debt or equity capital in order to fund future

The increase in negative cash flows from operations was primarily from increase

in loss and increase in accounts payable and accrued expenses.

Cash flows from financing activities during the period ended February

29, 2024, totaled $565,950, primarily the result of $551,450 in proceeds from the sale of shares of common stock.

Going forward, the

Company expects capital expenditures to increase significantly as operations are expanded pursuant to its current growth plans.

anticipates the requirement to raise significant debt or equity capital in order to fund future operations.

of Operations

of the Three Months Ended August 31, 2023 and 2022

the three months ended August 31, 2023 and 2022, the Company’s revenues totaled $0, respectively.

We anticipate the Company’s

revenues in upcoming quarters may increase significantly as management attempts to implement the Company’s new business model.

the three months ended August 31, 2023, our operating expenses increased to $1,446,398 compared to $23,364 for the comparable period

The increase of $1,423,034 was primarily driven by travel and professional fees associated with the shift in strategic focus

and preparations for increased operations.

We anticipate future operating expenses to increase with the expansion of operations, resulting

in increased expenses related to compensation and professional fees.

of the Nine Months Ended August 31, 2023 and 2022

the nine months ended August 31, 2023 and 2022, the Company’s revenues totaled $3,400 and $0, respectively.

We anticipate the Company’s

revenues in upcoming quarters may increase significantly as management attempts to implement the Company’s new business model.

the nine months ended August 31, 2023, our operating expenses increased to $1,921,863 compared to $47,635 for the comparable period in

of the Three Months Ended February 29, 2024 and February 28, 2023

the three months ended February 29, 2024 and February 28, 2023, the Company’s revenues totaled $0 and $3,400, respectively.

anticipate the Company’s revenues in upcoming quarters may increase significantly as management attempts to implement the

Company’s new business model.

the three months ended February 29, 2024, our operating expenses increased to $675,185 compared to $31,391 for the comparable period

The increase of $643,794 was primarily driven by travel and professional fees associated with the shift in strategic focus and

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in increased expenses related to compensation and professional fees.

the nine months ended August 31, 2023, other expenses totaled $95,066, compared to $0 in the comparable period in 2022.

This increase

in other expenses was primarily driven by impairment expenses in the current period.

We anticipate our other expenses may increase as

the Company could incur financing costs related to the expansion of its operations.

Balance Sheet Arrangements

do not have any off-balance sheet arrangements.

Cybersecurity

Management and Strategy

recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information

systems and protect the confidentiality, integrity, and availability of our data.

Material Risks & Integrated Overall Risk Management

have strategically integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture

of cybersecurity risk management.

This integration ensures that cybersecurity considerations are an integral part of our decision-making

processes at every level.

Our management team continuously evaluates and addresses cybersecurity risks in alignment with our business

objectives and operational needs.

Third-party Risk

we are aware of the risks associated with third-party service providers, we have implemented stringent processes to oversee and manage

We conduct thorough security assessments of all third-party providers before engagement and maintain ongoing monitoring

to ensure compliance with our cybersecurity standards.

The monitoring includes annual assessments of the SOC reports of our providers

and implementing complementary controls.

This approach is designed to mitigate risks related to data breaches or other security incidents

originating from third-parties.

from Cybersecurity Threats

have not encountered cybersecurity challenges that have materially impaired our operations or financial standing.

Qualitative and Quantitative Disclosures about Market Risk.

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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