What changed in this filing

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Item 2. Management’s Discussion and Analysis

2024-07-11 compared with 2024-04-26 · 39 added, 28 removed, 62 unchanged (52% of the section changed)

22 unchanged sentences

partners of the United States.

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

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

Mining, Processing & Refining:

a business engaged in sourcing, extraction, processing, refining, transporting and selling primary

minerals and metals;

a business engaged in sourcing, extraction, processing, transporting and selling primary minerals and metals;

Scrap & Recycling:

a business engaged in the collection, processing, transporting and selling of scrap, recycled and reused metals;

Government and Policy:

a business engaged in aligning USMM’s business with U.S.

Government and Defense Industrial Base:

a business engaged in aligning with U.S.

policy to facilitate participation in U.S.

government programs such as the creation and management of a Strategic Minerals Reserve as an enhancement of the U.S.

National Defense Stockpile.

programs such as the creation and management of a Strategic Minerals Reserve as an enhancement of the U.S.

government’s National

Defense Stockpile.

Issued Accounting Pronouncements

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.

the period ended May 31, 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

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

6 unchanged sentences

and Capital Resources

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

May 31, 2024, the Company had a cash balance of $72,508, as compared to a cash balance of $48,197 at November 30, 2023.

incurred negative cash flow from operations of $783,994 for the period ended May 31, 2024, as compared to negative cash flow from

operations of $234,717 in the comparable prior year period.

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.

The increase in negative cash flows from operations was primarily from

an increase in net loss and increase in accounts payable and accrued expenses.

Cash flows from financing activities during the

period ended May 31, 2024, totaled $808,305, as compared to cash flows from financing activities in the comparable prior year

The increase in cash provided by financing activities is primarily the result of $772,935 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.

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

to fund future operations.

of Operations

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

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 Three and Six Months Ended May 31, 2024 and May 31, 2023

the comparable three months ended May 31, 2024 and May 31, 2023, the Company’s revenues totaled $0.

For the six months ended

May 31, 2024 and May 31, 2023, the Company’s revenues totaled $0 and $3,400, respectively.

We anticipate the Company’s

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

the three months ended May 31, 2024, our operating expenses increased to $1,348,812 compared to $539,140 for the comparable period in

The increase of $809,672 was primarily driven by travel and professional fees for consultants to implement the shift in strategic

focus and preparations for increased operations.

For the six months ended May 31, 2024, our operating expenses increased to $2,023,997

compared to $570,531 for the comparable period in 2023.

The increase of $1,453,466 was primarily driven by travel and professional fees

for consultants to implement 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.

Balance Sheet Arrangements

24 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