Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 161

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 11
Chunk 161
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   -   20,870   1   25,043   -   -   -   25,044 Net loss for the Period  -   -   -   -   -   (949,782)  -   -   (949,782)Balance, December 31, 2024  51  $1   2,659,773  $27  $26,517,017  $(29,863,364) $-  $-  $(3,346,319)

See accompanying notes to the consolidated financial statements.

 F-5Table of Contents

Blusky AI, Inc.

(fka Inception Mining, Inc.)

Consolidated Statements of Cash Flows

  For the Years Ended   December 31, 2024  December 31, 2023 Cash Flows From Operating Activities:      Net Income (Loss) $(949,782) $12,755,659 Net Income (Loss) from discontinued operations  -   497,581 Gain on sale of mine property in discontinued operations  -   (7,230,453)Adjustments to reconcile net income (loss) to net cash used in operations        Depreciation and amortization expense  727   725 Common stock issued for services  -   279,429 Allowance for doubtful note receivable  -   2,219,442 Loss on disposition of property, plant and equipment  2,531   - (Gain) loss on extinguishment of debt  13,043   (6,313,102)Change in derivative liability  (196,321)  (3,273,396)Default penalty additions  119,734   - Expenses paid in behalf of the company by related party  15,327   - Amortization of right-of-use asset  9,595   13,511 Amortization of debt discount  219,961   77,032 Initial derivative expense  193,582   - Changes in operating assets and liabilities:        Other receivables  -   3,556,358 Prepaid expenses and other current assets  10,000   (7,283)Accounts