v3.25.4
NOTES PAYABLE
 9 Months Ended 12 Months Ended
Oct. 31, 2025
Jan. 31, 2025
Debt Disclosure [Abstract]    
NOTES PAYABLE

NOTE 3 – NOTES PAYABLE

 

On October 28, 2024, the Company issued a secured promissory note for $25,000 to Feehan Partners, LP (“Feehan”), a company controlled by Robert Scannell (“Scannell”), the Company’s chief financial officer and director. The note is non-interest bearing is due on October 28, 2025. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On November 4, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note is non-interest bearing and is due on November 4, 2025. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On November 20, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note is non-interest bearing and is due on November 20, 2025. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On December 3, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note is non-interest bearing and is due on December 3, 2025. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On April 15, 2025, the Company issued a secured promissory note for $25,000 to Feehan. The note is non-interest bearing and is due on April 15, 2026. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On June 30, 2025, the Company issued a secured promissory note for $40,000 to Feehan. The note is non-interest bearing and is due on October 28, 2025. On July 31, 2025, Feehan extended the due date for the note to April 30, 2026. After the due date, if unpaid, the note accrues interest at 10%.

 

On August 5, 2025, the Company issued a promissory note for $15,000 to Feehan. The note is non-interest bearing and is due on April 30, 2026.

 

On August 12, 2025, the Company issued a promissory note for $25,000 to Gil Atzmon. The note bears interest of 7.5% and matures on February 28, 2026.

 

On August 12, 2025, the Company issued a promissory note for $25,000 to Jon Powell. The note bears interest of 7.5% and matures on February 28, 2026.

 

On September 25, 2025, the Company issued a promissory note for $5,000 to Feehan. The note is non-interest bearing and is due on April 30, 2026.

 

On October 14, 2025, the Company issued a promissory note for $15,000 to Feehan. The note is non-interest bearing and is due on April 30, 2026.

 

On October 31, 2025, the Company issued a promissory note for $2,000 to Feehan. The note is non-interest bearing and is due on February 28, 2026.

 

 

As of October 31, 2025, the Company’s outstanding notes payable are as follows:

 

         Extended (1)               
   Issue  Maturity  Maturity      Interest      Accrued 
Lender  Date  Date  Date  Amount   Rate   Secured  Interest 
Feehan Partners  10/28/24  10/28/25  4/30/26  $25,000    N/A   Yes  $- 
Feehan Partners  11/4/24  11/4/25  4/30/26  $25,000    N/A   Yes  $- 
Feehan Partners  11/20/24  11/20/25  4/30/26  $25,000    N/A   Yes  $- 
Feehan Partners  12/3/24  12/3/25  4/30/26  $25,000    N/A   Yes  $- 
Feehan Partners  4/15/25  4/15/26  4/30/26  $25,000    N/A   Yes  $- 
Feehan Partners  6/30/25  10/1/25  4/30/26  $40,000    N/A   Yes  $- 
Feehan Partners  8/5/25  4/30/26     $15,000    N/A   No  $- 
Gil Atzmon  8/12/25  2/28/26     $25,000    7.5%  No  $416 
Jon Powell  8/12/25  2/28/26     $25,000    7.5%  No  $416 
Feehan Partners  9/25/25  4/30/26     $5,000    N/A   No  $- 
Feehan Partners  10/14/25  4/30/26     $15,000    N/A   No  $- 
Feehan Partners  10/31/25  2/28/26     $2,000    N/A   No  $- 
Total           $252,000           $832 

 

Note: Feehan Partners is a related party. See Note 5.

(1)On July 31, 2025, notes extended to April 30, 2026.

 

The future payments are as follows:

 

Fiscal Year    
2026  $- 
2027  $252,000 
2028  $- 
2029  $- 
2030  $- 
Thereafter  $- 
Total  $252,000 

 

NOTE 4 – CONVERTIBLE NOTES AND NOTES PAYABLE

 

Convertible Notes Payable

 

The Company has $0 and $1,100,200 in convertible secured notes payable at January 31, 2025 and 2024, respectively. The balances as of January 31, 2024, were as follows:

 

          Issue  Maturity  Conversion   Conversion   Warrants   Exercise   Warrant
   Balance   Collateral  Date  Date  Price   Shares   Shares   Price   Expiration
Steven Rudofsky  $125,000   (a)  1/23/23  7/23/25  $2.00    83,333    62,500   $3.00   1/23/28
Feehan Partners, LP  $87,334   (a)  1/23/23  7/23/25  $2.00    58,667    43,667   $3.00   1/23/28
The Jeffrey V. and Karin R. Hembrock Revocable Trust  $100,000   (a)  1/23/23  7/23/25  $2.00    66,667    50,000   $3.00   1/23/28
The Gaitonde Living Trust, Girish Gaitonde Trustee  $100,000   (a)  1/23/23  7/23/25  $2.00    66,667    50,000   $3.00   1/23/28
Corey Redfield  $50,000   (a)  1/23/23  7/23/25  $2.00    33,333    25,000   $3.00   1/23/28
PV Partners, LP  $75,000   (a)  1/23/23  7/23/25  $2.00    50,000    37,500   $3.00   1/23/28
Shaun Dykes  $30,000   (a)  1/23/23  7/23/25  $2.00    20,000    15,000   $3.00   1/23/28
Patricia Czerniej  $30,000   (a)  1/23/23  7/23/25  $2.00    20,000    15,000   $3.00   1/23/28
James Dykes  $30,000   (a)  1/23/23  7/23/25  $2.00    20,000    15,000   $3.00   1/23/28
Jason Czerniej  $30,000   (a)  1/23/23  7/23/25  $2.00    20,000    15,000   $3.00   1/23/28
Louise Dykes  $30,000   (a)  1/23/23  7/23/25  $2.00    20,000    15,000   $3.00   1/23/28
Andrew Brodkey  $98,000   (a)  1/23/23  7/23/25  $2.00    65,333    49,000   $3.00   1/23/28
Feehan Partners, LP  $112,666   (a)  1/23/23  7/23/25  $2.00    74,667    56,333   $3.00   1/23/28
Gil Atzmon  $102,200   (a)  5/8/23  11/8/25  $4.60    22,000    27,500   $4.60   5/8/26
Jon Powell  $100,000   (a)  5/8/23  11/8/25  $4.60    21,739    27,174   $4.60   5/8/26
Total  $1,100,200                  642,406    503,674         

 

  (a) The replacement notes and new warrants are secured by mining claims and rights of the CuMo Project.

 

As of January 31, 2024, there were debt discounts and beneficial conversion features on the above notes payable of $476,201. The Company derecognized the unamortized beneficial conversion feature upon its adoption of ASU 2020-06 as described in Note 1.

 

On April 5, 2024, holders of $1,100,200 par value of Convertible Secured Notes issued between December 2022 and May 2023 elected to convert those notes to common stock under contract terms. As a result, we issued 642,406 shares of common stock to the respective holders.

 

Notes Payable

 

On October 28, 2024, the Company issued a secured promissory note for $25,000 to Feehan Partners, LP (“Feehan”), a company controlled by Robert Scannell, the Company’s chief financial officer and director. The note accrues interest at 10% and is due on October 28, 2025.

 

On November 4, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note accrues interest at 10% and is due on November 4, 2025.

 

On November 20, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note accrues interest at 10% and is due on November 20, 2025.

 

On December 3, 2024, the Company issued a secured promissory note for $25,000 to Feehan. The note accrues interest at 10% and is due on December 3, 2025.

 

 

As of January 31, 2025, the Company’s outstanding notes payable are as follows:

 

   Issue  Maturity    
Lender  Date  Date  Amount 
Feehan Partners  10/28/24  10/28/25  $25,000 
Feehan Partners  11/4/24  11/4/25  $25,000 
Feehan Partners  11/20/24  11/20/25  $25,000 
Feehan Partners  12/3/24  12/3/25  $25,000 
Total        $100,000 

 

Note: Feehan Partners is a related party.  See Note 6.

 

The future payments are as follows:

 

Fiscal Year    
2026  $100,000 
2027  $- 
2028  $- 
2029  $- 
2030  $- 
Thereafter  $- 
Total  $100,000