Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 826

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 5
Chunk 826
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(652)         Cash Flows From Financing Activities:        Repayment of notes payable-related parties  (98,475)  (39,000)Repayment of convertible notes payable  (98,784)  (1,343,429)Proceeds from notes payable-related parties  174,396   39,303 Proceeds from convertible notes payable  150,000   100,000 Net Cash Provided by (Used in) Continuing Financing Activities  127,137   (1,243,126)Effects of exchange rate changes on cash  -   1,105 Net Change in Cash  (2)  2 Cash at Beginning of Period  2   - Cash at End of Period  -   2 Less Cash of Discontinued Operations at End of Period  -   - Cash of Continued Operations at End of Period $-  $2          Supplemental disclosure of cash flow information:        Cash paid for interest $11,074  $157,494 Cash paid for taxes $-  $-          Supplemental disclosure of non-cash investing and financing activities:        Note receivable acquired for sale of mine property $-  $2,700,000 Common stock issued for conversion of debt $25,043  $- Common stock issued for settlement of notes payable - related parties $-  $18,057,410 Recognition of debt discounts on convertible note payable $179,800  $66,615 

See accompanying notes to the consolidated financial statements.

 F-6Table of Contents

Blusky AI, Inc.

(fka Inception Mining, Inc.)

Notes to Consolidated Financial Statements

As of December 31, 2024 and 2023

1. Nature of Business BluSky AI Inc, (formerly know as Inception Mining, Inc.) (formerly known as Gold American Mining Corp.) 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. is 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