Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 1019

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 7A
Chunk 1019
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 We review the carrying amount of our long-lived assets for impairment whenever there are negative indicators of impairment. An asset is considered impaired when estimated future cash flows are less than the carrying amount of the asset. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flows. Properties, Plant and Equipment – We record properties, plant and equipment at historical cost. We provide depreciation and amortization in amounts sufficient to match the cost of depreciable assets to operations over their estimated service lives or productive value. We capitalize expenditures for improvements that significantly extend the useful life of an asset. We charge expenditures for maintenance and repairs to operations when incurred. Depreciation is computed using the straight-line method over estimated useful lives as follows: Building7 to 15 yearsVehicles and equipment3 to 7 yearsProcessing and laboratory5 to 15 yearsFurniture and fixtures2 to 3 years Stock Issued for Goods and Services – Common and preferred shares issued for goods and services are valued based upon the fair market value of our common stock or the goods and services received. Stock-Based Compensation – For stock-based transactions, compensation expense is recognized over the requisite service period, which is generally the vesting period, based on the estimated fair value on the grant date of the award. Income (Loss) per Common Share – Basic net income (loss) per common share is computed by dividing net income (loss), less the preferred stock dividends, by the weighted average number of common shares outstanding. Dilutive income (loss) per share includes any additional dilution from common stock equivalents, such as stock options and warrants, and convertible instruments, if the impact is not anti-dilutive. 810,359 common share equivalents have been excluded from the diluted loss per share calculation for the year ended December 31, 2024 because it would be anti-dilutive.

 F-10Table of Contents

The following tables summaries the changes in the net earnings per common share for the years ended December 31, 2024 and 2023:   For the Years Ended Numerator December 31, 2024  December 31, 2023 Net Income (Loss) - Controlling Interest $(949,782) $12,741,988 Gain on Extinguishment of Debt  -   (6,313,102)Interest Expense  -