Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 88

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 88
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 consulting agreement with William McCluskey. This agreement requires the Company to pay $200,000 in consulting fees to William McCluskey before March 31, 2025. This amount is currently reported in accounts payable at December 31, 2024.

14. Discontinued Operations  During the year ended December 31, 2022, the Company decided to discontinue all of its operating activities. Based on that decision, the Company’s board of directors committed to a plan to sell the CMCS entity operating the mine in Honduras. In accordance with the provisions of ASC 205-20, the Company has zero reported assets and liabilities of the discontinued operations (held for sale) in the consolidated balance sheets as of December 31, 2024 and 2023. In accordance with the provisions of ASC 205-20, the Company has not included in the results of continuing operations the results of operations of the discontinued operations in the consolidated statements of operations and comprehensive loss. The results of operations from discontinued operations for the years ended December 31, 2024 and 2023 have been reflected as discontinued operations in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2024 and 2023, and consist of the following.   Years Ended   December 31, 2024  December 31, 2023 Precious Metals Income $-  $- Cost of goods sold  -   315,152 Gross profit  -   (315,152)         OPERATING EXPENSES OF DISCONTINUED OPERATIONS:        General and administrative  -   181,519 Depreciation and amortization  -   212    -   181,731 OPERATING INCOME (LOSS) OF DISCONTINUED OPERATIONS  -   (496,883)         OTHER (INCOME) EXPENSE OF DISCONTINUED OPERATIONS        Interest expense  -   698    -   698          INCOME (LOSS) BEFORE INCOME TAXES OF DISCONTINUED OPERATIONS  -   (497,581)Provision for income taxes of discontinued operations  -   - NET INCOME (LOSS) OF DISCONTINUED OPERATIONS $-  $(497,581)

 F-22Table of Contents

The Company recognized a gain on the sale