Company: NMEX
Filing Date: 2025-11-26
Form Type: 10-K/A
Source: 0001437749-25-036462
Chunk: 11

Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-11-26
Form: 10-K/A
Chunk 11
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,936 for the years ended July 31, 2025 and 2024, respectively, an increase of $28,822 or 131.4%. In the current year we had an increase of $9,000 for web design fees and we issued common stock for services valued at $19,000.

Other income / expenses

During the years ended July 31, 2025 and 2024, we incurred $12,254 and $11,454 of interest expense, increase of $800 or 7%. During the year ended July 31, 2025, we recognized a $4,700 gain on extinguishment of debt and a loss for impairment of $140,744.

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Net Loss

For the year ended July 31, 2025 we had a net loss of $383,612 compared to $170,340 for year ended July 31, 2024. The increase to our net loss is mainly attributed to our increase in professional fee and the recognition of the impairment loss.

Liquidity and Financial Condition

Operating Activities

Cash used by operating activities was $176,580 for the year ended July 31, 2025, compared to cash used for operating activities of $167,386 for the year ended July 31, 2024.

Investing Activities

During the year ended July 31, 2025, the Company used $25,000 for the purchase of oil and gas rights.

Financing Activities

Net cash provided by financing activities was $152,500 for the year ended July 31, 2025 compared to $213,625 for the year ended July 31, 2024. During the year ended July 31, 2025, we received $35,000 from the sale of common stock from a related party, $135,000 of loans from a related party, $125,000 from a third party and we repaid $30,000 of a note payable. During the year ended July 31, 2024, we received $213,625 from the sale of common stock, $125,000 of which was from a related party.

We had the following loans outstanding as of July 31, 2025:

On April 16, 2017, the Company executed a promissory note for $15,000 with a third party. The note matures in two years and interest is set at $3,000 for the full two years. As