Company: BSAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000818
Chunk: 31

Company: BLUSKY AI INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 3,424 Amortization of debt discount  -   37,190 Initial derivative expense  -   57,116 Changes in operating assets and liabilities:        Prepaid expenses and other current assets  (3,000)  4,389 Accounts payable and accrued liabilities  114,401   87,595 Accounts payable and accrued liabilities - related parties  14,612   7,719 Net Cash Used In Operating Activities  (37,271)  (32,808)         Cash Flows From Investing Activities:        Net Cash Provided By (Used In) Investing Activities  -   -          Cash Flows From Financing Activities:        Repayment of convertible notes payable  -   (45,877)Proceeds from notes payable-related parties  37,271   28,695 Proceeds from convertible notes payable  -   50,000 Net Cash Provided by Continuing Financing Activities  37,271   32,818 Net Change in Cash  -   10 Cash at Beginning of Period  -   2 Cash at End of Period $-  $12          Supplemental disclosure of cash flow information:        Cash paid for interest $-  $5,117 Cash paid for taxes $-  $-          Supplemental disclosure of non-cash investing and financing activities:        Recognition of debt discounts on convertible note payable $-  $63,250 Note payable issued to related party for settlement of convertible note payable $125,000  $- 

See accompanying notes to the unaudited condensed financial statements.

 F-4Table of Contents

BluSky AI, Inc.

(FKA Inception Mining, Inc.)

Notes to Condensed Financial Statements (Unaudited)

March 31, 2025

1. Nature of Business BluSky AI, Inc. (formerly known as Inception Mining, Inc.) was incorporated under the name of Golf Alliance Corporation and under the laws of the State of Nevada on July 2, 2007. Inception Mining, Inc. was a precious metal mineral acquisition, exploration and development company. Inception Development, Inc., its wholly owned subsidiary, was incorporated under the laws of the State of Idaho on January 28, 2013. Golf Alliance Corporation