Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 35

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 5
Chunk 35
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 filing fees were $19,929 for the year ended December 31, 2024 versus $25,183 for the same period in the previous year. The difference was due to the initial conversion in 2023 of our 2022 and 2023 filings to XBRL pursuant to new filing requirements. For the year ended December 31, 2024, foreign exchange loss was $1,500 versus a loss of $191 for the same period in the previous year. The average foreign exchange for 2024 was 1.3698 versus 1.3497 in 2023. Interest expense for the year ended December 31, 2024 was $62,196 versus $32,593 for the same period in the previous year. The difference was due to the increased interest on the loans from PXP in 2024 as a result of an increase in the overall loan amount and the increase in interest rates. Comprehensive income for the year ended December 31, 2024 was $5,861,726 versus a loss of $191,795 for the year ended December 31, 2023. The difference was a result of the change in fair value of our investment in FEL.

Fiscal year ended December 31, 2023 versus December 31, 2022

Our accounts show a loss for the year ended December 31, 2023 of $191,795, or $0.00 per share, versus a loss of $193,182 for the same period in 2022. General and administration expense were $159,202 for the year ended December 31, 2023 versus $182,578 for the same period in 2022. Overall expenses were slightly lower than those experienced in the previous year. Lower professional fees and lower consulting fees, offset by higher listing and filing fees and interest expense on the PXP Loan mainly accounted for the difference. Professional fees were $23,841 for the year ended December 31, 2023 versus $31,080 for the same period in the previous year as we engaged professional advice with respect to our strategic options going forward in 2022. Office and miscellaneous costs were $22,572 for the year ended December 31, 2023 versus $23,861 for the same period in the previous year. The difference was not material. Consulting fees for the year ended December 31, 2023 were $86,749 versus $103,671 for the previous year due to the reduction