Company: BSAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000818
Chunk: 5

Company: BLUSKY AI INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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. An asset is considered impaired when estimated future cash flows are less than the carrying amount of the asset. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flows.

 F-7Table of Contents

Properties, Plant and Equipment - We record properties, plant and equipment at historical cost. We provide depreciation and amortization in amounts sufficient to match the cost of depreciable assets to operations over their estimated service lives or productive value. We capitalize expenditures for improvements that significantly extend the useful life of an asset. We charge expenditures for maintenance and repairs to operations when incurred. Depreciation is computed using the straight-line method over estimated useful lives as follows: Building 7 to 15 yearsVehicles and equipment 3 to 7 yearsFurniture and fixtures 2 to 3 yearsProcessing and laboratory 5 to 15 years Stock Issued for Goods and Services - Common and preferred shares issued for goods and services are valued based upon the fair market value of our common stock or the goods and services received. Stock-Based Compensation - For stock-based transactions, compensation expense is recognized over the requisite service period, which is generally the vesting period, based on the estimated fair value on the grant date of the award. Income (Loss) per Common Share - Basic net income (loss) per common share is computed by dividing net income (loss), less the preferred stock dividends, by the weighted average number of common shares outstanding. Dilutive income (loss) per share includes any additional dilution from common stock equivalents, such as stock options and warrants, and convertible instruments, if the impact is not antidilutive. 0 and 151,563,371 common share equivalents have been excluded from the diluted loss per share calculation for the three-month periods ended March 31, 2025 and 2024, respectively, because it would be anti-dilutive. The following tables summaries the changes in the net earnings per common share for the three-month periods ended March 31, 2025 and 2024:   For the Three Months Ended Numerator March 31, 2025  March 31, 2024 Net Income (Loss) $175,389  $(256,980)Adjusted Net Income (Loss) $175,389  $(256,