14 unchanged sentences
We are a reporting issuer in British Columbia, Alberta, and Ontario in Canada.
−Removed: Our common stock is also currently traded in the United States on the OTCQX Market under the symbol "RYES".
+Added: Our common stock is also currently traded in the United States on the OTC Market under the symbol "RYES".
We are an SEC reporting company by virtue of our class of common stock being registered under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
6 unchanged sentences
The buyer will pay monthly interest at an annual rate of 5% per year on the balance of the purchase price until it is paid in full.
+Added: On January 14, 2025, the Company and the Purchaser negotiated a discounted, accelerated payment with the purchaser whereby the Company received $702,000 in lieu of the second $900,000 payment due in November 2026.
The second sale agreement covers 50 acres of land for total sale price of $2.5 million and is expected to close on May 26, 2025, at which point half of the sale price will be due, with the other half due on May 26, 2027.
68 unchanged sentences
Plan of Operations
−Removed: As at October 31, 2024, the Company had a cash balance of $279,685, compared to a cash balance of $243,669 as at July 31, 2024.
+Added: As at January 31, 2025, the Company had a cash balance of $743,546, compared to a cash balance of $243,669 as at July 31, 2024.
Our plan of operations for the next 12 months is to continue to review litigation options in pursuit of protecting the Company's property rights under both California state and US federal laws, including asserting its 5th Amendment rights under the US Constitution and other due process rights under the 14th Amendment of the US Constitution.
25 unchanged sentences
Results of Operations
−Removed: Accretion expense $ 29,859 $ 30,113
+Added: For the Periods Ended January 31, 2025 and 2024
+Added: ended January
+Added: 31, 2025 Three months
+Added: ended January
+Added: 31, 2024 Six months
+Added: ended January
+Added: 31, 2025 Six months
+Added: ended January
+Added: Accretion expense (Note 9 and 11) $ 128,836 $ 19,409 $ 158,695 $ 49,522
Consulting 66,784 113,600 121,890 166,183
1 unchanged sentence
Filing and regulatory 11,923 8,679 35,920 21,586
−Removed: Foreign exchange loss 2,127 12,987
+Added: Foreign exchange (gain) loss 3,286 (5,088 ) 5,413 7,899
General and administrative 50,606 116,992 124,972 262,151
−Removed: Geological, mineral, and prospect costs 45,162 361,525
−Removed: Interest expense 96,201 63,543
+Added: Geological, mineral, and prospect costs (Note 5) 20,691 34,241 65,853 395,766
+Added: Interest expense (Note 9 and 11) 68,916 66,118 165,116 129,661
Professional fees 124,693 257,737 225,574 595,278
1 unchanged sentence
Salaries - 5,268 - 89,569
−Removed: Share-based compensation 162,508 90,361
+Added: Share-based compensation (Note 12) 36,211 140,624 198,719 230,985
Loss $ (538,142 ) $ (811,048 ) $ (1,166,535 ) $ (2,050,101 )
−Removed: Loss on fair value adjustment on derivative liability - (82,481 )
−Removed: Write-off of receivable - (64,438 )
+Added: Gain on fair value adjustment on derivative liability (Note 10) - 211,196 - 128,715
+Added: Loss on note receivable (Note 5) (155,727 ) (126 ) (155,727 ) (64,564 )
Other income 7,536 2,492 7,536 10,039
2 unchanged sentences
Weighted average number of common shares outstanding (basic and diluted) 55,785,106 44,636,253 55,785,106 42,499,527
−Removed: The Company's operating results for the periods ended October 31, 2024 and 2023 are summarized as follows:
+Added: The Company's operating results for the periods ended January 31, 2025 and 2024 are summarized as follows:
Liquidity and Capital Resources
Working Capital
+Added: At January 31,
2025 At July 31,
3 unchanged sentences
Working Capital (433,482 ) $ (1,766,960 ) 472,272
−Removed: For the three-month
−Removed: October 31, 2024 For the three-month
−Removed: October 31, 2023
+Added: For the six-month
+Added: January 31, 2025 For the six-month
+Added: January 31, 2024
Net Cash used in Operating Activities $ (729,599 ) $ (1,140,620 )
−Removed: Net Cash from Investing Activities $ 21,000 $ -
−Removed: Net Cash provided by Financing Activities $ 470,000 $ 440,868
+Added: Net Cash from in Investing Activities $ 1,589,349 $ -
+Added: Net Cash provided by/(used in) Financing Activities
+Added: $ (359,873 ) $ 950,855
Net increase/(decrease) in Cash During the Period $ 499,877 $ (189,767 )
−Removed: As of October 31, 2024, the Company had $279,685 in cash, $954,513 in current assets, $5,215,044 in total assets, $2,526,605 in current liabilities and $266,879 in non-current liabilities, a working capital deficit of $1,572,092 and an accumulated deficit of $30,863,010.
−Removed: During the three-month period ended October 31, 2024, the Company used $454,984 (2023 - $512,857) in net cash on operating activities.
−Removed: The difference in net cash used in operating activities during the two periods was largely due to the difference between the share-based compensation for options granted during the period.
−Removed: The Company had $21,000 received from investing activities during the three-month period ending October 31, 2024 (October 31, 2023 - $Nil).
−Removed: The Company received net cash of $470,000 (2023 - $440,868) from financing activities related to the loan received and credit facility payment during the three-month periods ending October 31, 2024.
+Added: As of January 31, 2025, the Company had $743,546 in cash, $1,428,672 in current assets, $3,924,052 in total assets, $1,862,154 in current liabilities and $311,460 in non-current liabilities, a working capital deficit of $433,482 and an accumulated deficit of $31,549,343.
+Added: During the six-month period ended January 31, 2025, the Company used $729,599 (2024 - $1,140,620) in net cash on operating activities.
+Added: The difference in net cash used in operating activities during the two periods was largely due to the professional fees related to the Use Permit and Vested Rights petition..
+Added: The Company had $1,589,349 cash received from investing activities during the six-month period ended January 31, 2025 (January 31, 2024 - $Nil from the contracts to sell the 66 acres of land.
+Added: For the six-month period ended January 31, 2025, the Company had a negative net cash of $359,873 (2024 - positive $950,855) from financing activities related to the loan received and payments made towards the outstanding loan and credit facility.
The Company expects to operate at a loss for at least the next 12 months.
−Removed: It has no agreements for additional financing and cannot provide any assurance that additional funding will be available to finance its operations on acceptable terms in order to enable it to carry out its business plan.
+Added: Other than the second tranche of the sale of its 66 acres of land, the Company has no agreements for additional financing and cannot provide any assurance that additional funding will be available to finance its operations on acceptable terms in order to enable it to carry out its business plan.
There are no assurances that the Company will be able to complete further sales of its common stock or any other form of additional financing.
6 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.