Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 36

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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  10,000 Accounts payable and accrued liabilities  279,818   214,091 Accounts payable and accrued liabilities - related parties  27,651   5,216 Net Cash Used In Operating Activities  (101,017)  (59,141)         Cash Flows From Investing Activities:        Net Cash Provided By (Used In) Investing Activities  -   -          Cash Flows From Financing Activities:        Repayment of notes payable-related parties  (8,500)  (98,475)Repayment of convertible notes payable  -   (98,784)Proceeds from notes payable-related parties  110,406   106,400 Proceeds from convertible notes payable  -   150,000 Net Cash Provided by Continuing Financing Activities  101,906   59,141 Effects of exchange rate changes on cash  -   - Net Change in Cash  889   - Cash at Beginning of Period  -   2 Cash at End of Period $889  $2          Supplemental disclosure of cash flow information:        Cash paid for interest $-  $11,074 Cash paid for taxes $-  $-          Supplemental disclosure of non-cash investing and financing activities:        Recognition of debt discounts on convertible note payable $-  $179,800 Note payable issued to related party for settlement of convertible note payable $125,000  $- 

See accompanying notes to the unaudited condensed financial statements.

 F-4Table of Contents

BluSky AI, Inc.

(FKA Inception Mining, Inc.)

Notes to Condensed Financial Statements (Unaudited)

June 30, 2025

1. Nature of Business BluSky AI, Inc. (formerly known as Inception Mining, Inc.) was incorporated under the name of Golf Alliance Corporation and under the laws of the State of Nevada on July 2, 2007. Inception Mining, Inc. was a precious metal mineral acquisition, exploration and development company. Inception Development, Inc., its wholly owned subsidiary, was incorporated under the laws of the State of Idaho on January 28, 2013. Golf Alliance Corporation pursued its original business plan to provide opportunities for golfers to play on private golf courses normally closed to