| SCHEDULE OF PROPERTY AND EQUIPMENT |
The following table sets forth the components of the
Company’s property and equipment as at December 31, 2025, 2024 and 2023:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
December 31, 2025 | |
| | |
Cost | | |
Accumulated Depreciation | | |
Net Book Value | |
| | |
| | |
| | |
| |
| Computers and office equipment | |
$ | 6,453 | | |
| (1,290 | ) | |
| 5,163 | |
| Machinery and equipment | |
| 469,472 | | |
| (14,845 | ) | |
| 454,627 | |
| Mining Rights (1) | |
| 1,446,843 | | |
| (749 | ) | |
| 1,446,094 | |
| Land | |
| 20,250 | | |
| - | | |
| 20,250 | |
| Facilities | |
| 16,327 | | |
| (1,848 | ) | |
| 14,479 | |
| Total fixed assets | |
$ | 1,959,345 | | |
| (18,732 | ) | |
| 1,940,613 | |
| | |
December 31, 2024 | |
| | |
Cost | | |
Accumulated Depreciation | | |
Net Book Value | |
| | |
| | |
| | |
| |
| Computers and office equipment | |
$ | 5,733 | | |
| - | | |
$ | 5,733 | |
| Machinery and equipment (2) | |
$ | 452,205 | | |
| (41 | ) | |
$ | 452,165 | |
| Mining rights (3) | |
$ | 1,245,274 | | |
| - | | |
$ | 1,245,274 | |
| Facilities | |
$ | 14,508 | | |
| (191 | ) | |
$ | 14,316 | |
| Vehicles | |
$ | - | | |
| - | | |
$ | - | |
| Total fixed assets | |
$ | 1,717,720 | | |
| (232 | ) | |
$ | 1,717,488 | |
| | |
December 31, 2023 | |
| | |
Cost | | |
Accumulated Depreciation | | |
Net Book Value | |
| Computers and office equipment | |
$ | - | | |
| - | | |
$ | - | |
| Machinery and equipment | |
| 320,700 | | |
| - | | |
| 320,700 | |
| Vehicles | |
| - | | |
| - | | |
| - | |
| Total fixed assets | |
$ | 320,700 | | |
| - | | |
| 320,700 | |
For the years ended December 31, 2025, 2024 and
2023, the Company recorded depreciation expense of $18,282,
$209 and $nil,
respectively.
| |
(1) |
The amortization of mineral rights was triggered by the extraction of iron ore in Rio Piracicaba Project, following the lease agreement entered into by the Company and a third party in 2025. |
| |
(2) |
In 2024, the Company acquired an excavator to be used in our quartzite operations for a total consideration of R$810,000 ($133,424 at the date of the transaction). In 2023, the Company acquired a gold processing plant from Atlas Lithium at a total price of $320,700. Total paid for the plant acquisition was composed of 320,700 shares issued by the Company at $1.00 each. |
| |
(3) |
The mining rights addition in 2024 correspond to the impacts of the merger of the Company and Apollo. Mining rights are held by the new subsidiary MAL. |
|
| SCHEDULE OF OTHER EXPENSES |
SCHEDULE
OF OTHER EXPENSES
| | |
December 31, | | |
Foreign currency | | |
Impairment | | |
December 31, | |
| | |
2022 | | |
translation | | |
losses | | |
2023 | |
| Property and equipment, net | |
| 41,929 | | |
| 2,358 | | |
| (44,287 | ) | |
| - | |
| Intangibles, net | |
| 11,499 | | |
| 750 | | |
| (12,249 | ) | |
| - | |
| | |
| 53,428 | | |
| 3,108 | | |
| (56,536 | ) | |
| - | |
|
| SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Trade payables | |
$ | 594,566 | | |
| 305,638 | | |
| 29,989 | |
| Payroll and social charges | |
$ | 116,221 | | |
| 26,220 | | |
| 18,797 | |
| Taxes payable | |
$ | 11,002 | | |
| 14,488 | | |
| 10,223 | |
| Total | |
$ | 721,789 | | |
$ | 346,346 | | |
$ | 59,009 | |
|
| SCHEDULE OF OTHER CURRENT ASSETS |
The table below summarizes the amounts presented
as Other Current Assets:
SCHEDULE OF OTHER CURRENT ASSETS
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Option agreement | |
| 500,000 | | |
| - | | |
| - | |
| Other | |
| 96,833 | | |
| 47,772 | | |
| 3,621 | |
| Total | |
| 596,833 | | |
| 47,772 | | |
| 3,621 | |
|