Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 1

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 3
Chunk 1
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 -            -  
  Shareholders’ Equity                     $                            7,645      $                            1,783        1,975        2,168        2,337  
  Share Capital                            $                           17,621      $                           17,621       17,621       17,621       17,621  
  Capital Stock Shares                                                861,082                                 861,082      861,082      861,082      861,082  
  Total Assets                             $                            8,582      $                            2,479        2,280        2,182        2,379  

B. Capitalization and Indebtedness

This Form 20-F is being filed as an annual report under the U. S. Exchange Act and, as such, there is no requirement to provide any information under this item.

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C. Reason for the Offer and Use of Proceeds

This Form 20-F is being filed as an annual report under the U. S. Exchange Act and, as such, there is no requirement to provide any information under this item.

D. Risk Factors

GENERAL BUSINESS RISKS

We Have Had a History of Operating Losses Which May Affect Our Ability to Continue Operations.

We had a net loss of ($244,437) during the year ended December 31, 2024 (2023 - ($191,795); 2022 - ($193,182). We have incurred operating losses in the previous fiscal years with our accumulated deficit totaling $19,139,756 as at December 31, 2024. We also anticipate sustaining a loss from operations for the fiscal year ended December 31, 2025. We have no sources of revenue in the year ended December 31, 2024, and our only source of revenue has been from the sale of the Forum Energy Limited (“ Forum Energy” or “ FEL”) shares and, historically, have only shown net income as a result of accounting for our equity share of profits in other companies in which we hold equity investments. The last sale of FEL shares was in 2015.

On March 10, 2022, we announced that we agreed to fund an additional cash call for pre-drilling costs received from FEL in the amount of $198,620, bringing the total to $423,020, which included $224,400 advanced in 2020. The advance to F