What changed 10-Q

Item 2. Unregistered Sales of Equity Securities

2026-08-13 compared with 2026-05-13 · 15 added, 0 removed, 13 unchanged (54% of the section changed)

10 unchanged sentences

Defaults upon Senior Securities

On June 30, 2019, the Company renegotiated accrued salaries and

interest and outstanding convertible notes for a former employee.

Under the terms of the agreements, all outstanding notes totaling $224,064,

accrued interest of $119,278, accrued salaries of $7,260 and accrued vacation of $1,473 were converted to a promissory note convertible

into common stock with a warrant feature.

The convertible promissory note is unsecured, due five years from issuance, and bears an interest

At the noteholder’s option until the repayment date, the note may be converted to shares of the Company’s common

stock at a fixed price of $0.20 per share along with warrants to purchase one share for every two shares issued at the exercise price

of $0.30 per share for three years after the conversion date.

As of June 30, 2026, the note in the amount of $352,075 and accrued interest

of $242,390 has not been paid and is in default.

On February 7, 2025, the Company issued a

$10,000 promissory note payable.

The promissory note is unsecured, due one year from issuance, and bears an interest rate of 10%.

June 30, 2026, the note in the amount $10,000 to has not been paid and is in default.

Mine Safety Disclosures

1 unchanged sentence

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.