Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 795

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 5
Chunk 795
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 Derivative Expense  (193,582)  (55,065)  (138,517)Bad Debt Expense on Note Receivable  -   (2,219,442)  2,219,442 Loss on Disposal of Property, Plant and Equipment  (2,531)  -   (2,531)Loss on Extinguishment of Debt  (13,043)  6,313,102   (6,326,145)Interest Expense  (415,842)  (277,651)  (138,191)Income (Loss) from Operations Before Taxes  (949,782)  6,022,787   (6,972,569)Net Income (Loss) from Continued Operations  (949,782)  6,022,787   (6,972,569)Net Income (Loss) from Discontinued Operations  -   (497,581)  497,581 Gain on Sale of Mine Property in Discontinued Operations  -   7,230,453   (7,230,453)Net Income (Loss) from Discontinued Operations  -   6,732,872   (6,732,872)Net Income (Loss) $(949,782) $12,755,659  $(13,705,441)

 21Table of Contents

Operating Expenses

Operating expenses for the years ended December 31, 2024 and 2023 were $521,105 and $1,066,618, respectively. The decrease in operating expenses for 2024 compared to 2023 were comprised primarily of an decrease in consulting fees.

Other Income (Expenses)

Other income (expenses) for the years ended December 31, 2024 and 2023 were ($428,677) and $7,089,405, respectively. For the year ended December 31, 2024, other income (expenses) was comprised of $196,321 for change in derivative liability, ($193,582) in initial derivative expenses, ($13,043) for loss on extinguishment of debt and ($415,842) for interest expense. For the year ended December 31, 2023, other income (expenses) was comprised of $3,328,461 for change in derivative liability, ($55,065) in initial derivative