Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 117

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 5
Chunk 117
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,760 (2024 - $Nil) increased by $105,760 due to the spin-out transaction and the resulting equity interest in Rio Grande Resources Ltd. The Company...  

94

For the year ended March 31, 2024:

Net loss for the year

The Company had a net comprehensive loss for the year ended March 31, 2024, of $4,472,170 (2023 - Income of $956,578). The net change in the net loss for the year ended March 31, 2024, compared to the year ended March 31, 2023, was primarily due to the following:

Administrative expenses increased by $961,124:

  Consulting of $120,801 (2023 - $405,138) decreased by $284,337 and was related to consulting services in connection with the NASDAQ listing.                                                          
  Investor relations and promotion of $851,614 (20223 - $157,983) increased by $693,631 and was primarily related to increased services since the Company’s recent registration statement and relat...  
  Listing fee of $54,184 (2023 - $Nil) increased by $54,184 and was directly related to the Company’s NASDAQ listing.                                                                                   
  Management and directors’ fees of $754,542 (2023 - $381,819) increased by $372,723 and was related to performance incentive increases to certain contracted or salaried employees and the additio...  
  Office and miscellaneous of $267,690 (2023 - $87,866) increased by $179,824 and was mainly related to an increase of $149,513 in insurance costs after listing on Nasdaq and expensing a rent dep...  
  Property investigation costs of $Nil (2023 - $4,399) decreased by $4,399 due to the Company in the prior year investigating potential property additions.                                             
  Professional fees of $1,178,691 (2023 - $1,576,974) decreased by $398,283 which was generally related to a decrease in legal fees of due to legal service in the prior period relating to the Com...  
  Share-based payments of $910,700 (2023 - $815,428) increased by $95,272 due to a timing and amount of stock option issuances during the period and valued using the Black-Scholes Method of calcu...  
  Transfer agent and filing fees of $290,042 (202