v3.25.4
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS (Tables)
12 Months Ended
Dec. 31, 2025
Composition Of Certain Financial Statement Items  
SCHEDULE OF INVENTORIES

Inventories are composed of quartzite blocks and slabs generated by the cut and polishing process of the blocks. Both products are actively sold in the market, therefore considered finished products:

 

   2025   2024   2023 
   December 31 
   2025   2024   2023 
Quartzite unprocessed blocks   -    116,143    - 
Quartzite processed slabs   36,493    55,583    - 
Total   36,493    171,726    - 
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:

 

   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

   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

 

   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