What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2020-10-29 compared with 2019-10-29 · 12 added, 75 removed, 0 unchanged (100% of the section changed)

for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases

of Equity Securities

common stock is listed for trading in Canada on the CSE under the symbol RISE and is quoted in the United States

on the OTCQB Market under the symbol RYES.

of the date of this Report, there are approximately 141 registered holders of our

common stock.

Sales of Unregistered Securities

than as disclosed in previous quarterly reports on Form 10-Q or current reports on Form 8-K, we have not offered and sold any

equity securities that were not registered under the Securities Act during the fiscal year ended July 31, 2019.

Financial Data.

Discussion and Analysis of Financial Condition and Results of Operations.

following discussion provides information regarding the results of operations for the years ended July 31, 2019 and 2018

and our financial condition, liquidity and capital resources as of July 31, 2019 and July 31, 2018.

following discussion and analysis should be read in conjunction with the information set forth in our audited financial statements

and the notes thereto as of and for the years ended July 31, 2019 and July 31, 2018.

of Operations

the Years Ended July 31, 2019 and 2018

operating results for the years ended July 31, 2019 and 2018 are summarized as follows:

For the year ended

July 31, 2019

For the year ended

July 31, 2018

Directors fees

Filing and regulatory

Foreign exchange

Gain on settlement of payables

General and administrative

Mineral exploration

Interest expense

Professional fees

Promotion and shareholder communication

Share-based payments

operating expenses increased during the year ended July 31, 2019 compared to the prior year primarily as a result of increased

costs as a result of increased activities by our company.

These include salaries, filing and regulatory, general and administrative,

professional fees, driven by the need for expenses related to planning and researching our mineral properties, and activity involved

in raising funds in the recent private placements.

a result of the increased activity, significant expenses during the year ended July 31, 2019 include:

in mineral exploration costs to $3,770,791(2018 - $2,060,183) related to exploration work on the I-M Mine Property during the

in share-based payments to $173,762 (2018 - $673,360) for the grant of options pursuant to our stock option plan to incentivize

management and certain consultants;

in professional fees to $523,358 (2018 - $562,694) related to a decrease in legal and regulatory items pertaining to operating

in Canada and the United States;

in promotion and shareholder communication to $548,339 (2018 - $443,696) as there were more activities compared to the previous

and Capital Resources

of July 31, 2019, we had $281,575 in cash, $547,705 in current assets, $6,807,618 in total assets, $1,213,759 in current and total

liabilities, working capital deficiency of $666,054 and an accumulated deficit of $16,394,326

the year ended July 31, 2019, we used $4,922,714 in net cash on operating activities, compared to $3,895,524 in net cash on operating

activities during the prior year.

The difference in net cash used in operating activities during the year was largely due to the

increase in our net loss for the most recent year, as we incurred expenses relating to mineral exploration within the I-M Mine

the year ended July 31, 2019, we used net cash of $125,660 (2018 - $1,747,033) in investing activities for the acquisition of

the I-M Mine Property, related transaction costs, and the recent option agreement to increase the holdings of the I-M Mine Property.

the year ended July 31, 219, we generated net cash from financing activities of $5,260,333 (2018 - $5,375,074).

There were warrants

exercised during the year for the total proceeds of $Nil (2018 - $19,267).

In the current year, we received gross proceeds of

$4,381,518 (2018 - $5,560,220 offset by $189,619 in share issuance costs) from private placements.

We also received gross proceeds

of $1,000,000 from issuance of convertible debt.

expect to operate at a loss for at least the next 12 months.

We have received additional financing since the end of the July 31,

2019 fiscal year through private placements for a total of $3,207,850 in gross proceeds as well as a US$1,000,000 debt financing,

but we cannot provide any assurance that additional funding will be available to finance our operations on acceptable terms in

order to enable us to carry out our business plan.

There are no assurances that we will be able to complete further sales of our

common stock or any other form of additional financing.

If we are unable to achieve the financing necessary to continue our plan

of operations, then we will not be able to carry out any further exploration work on the I-M Mine Property or the other properties

in which we own an interest and our business may fail.

Sheet Arrangements

have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial

condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital

resources that are material to investors.

and Qualitative Disclosures About Market Risk.

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information

Our common stock is listed for trading in Canada on the Canadian Securities Exchange (“the CSE”) under the symbol “RISE” and is quoted in the United States on the OTCQX Market under the symbol “RYES”.

As of the date of this Report, there are approximately 199 registered holders of our common stock.

Recent Sales of Unregistered Securities

Other than as disclosed in previous quarterly reports on Form 10-Q or current reports on Form 8-K or as described below, we have not offered and sold any equity securities that were not registered under the Securities Act of 1933, as amended (the “Securities Act”) during the fiscal year ended July 31, 2020.

On September 9, 2019 in conjunction with a debt financing, we issued 1,150,000 share purchase warrants to a lender as partial consideration for a secured $1,000,000 loan.

Each warrant entitles the holder to acquire one share of Common Stock at an exercise price of $0.80 (C$1.00) until September 9, 2022.

We issued the warrants in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act for offers and sales in the United States.

Our reliance on Section 4(a)(2) was based on the fact that the lender provided us with written representations regarding its investment intent and status as an accredited investor, the availability to the lender of information regarding our company and our properties and operations, and the private nature of the transaction.

Selected Financial Data.

Not required.

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-K

Item 5. Market for Registrant’s Common Equity