Company: NMEX
Filing Date: 2025-11-26
Form Type: 10-K/A
Source: 0001437749-25-036462
Chunk: 10

Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-11-26
Form: 10-K/A
Chunk 10
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 Director, purchased 400,000 shares of common stock for total proceeds of $20,000.

Other than as disclosed above, we did not sell any equity securities which were not registered under the Securities Act during the year ended July 31, 2025, that were not otherwise disclosed on our quarterly reports on Form 10-Q or our current reports on Form 8-K filed during the year ended July 31, 2025.

ISSUER REPURCHASES OF EQUITY SECURITIES

None

ITEM 6. [RESERVED]

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations for the Years Ended July 31, 2025 and 2024

Revenue and Cost of Revenue

For the year ended July 31, 2025, we recognized $8,634 of revenue and $8,370 of expense for a gross margin of $264. During the fourth quarter the Company recognized its first revenues from the sale of oil and natural gas from its investment in Lost Creek Acquisitions LLC (Note 4). We did not recognize any revenue for the year ended July 31, 2024.

Officer compensation

Officer compensation was $27,600 and $26,400 for the years ended July 31, 2025 and 2024, respectively, an increase of $1,200 or 4.5%. Officer’s compensation is paid to our CFO and has increased $200 a month in the current period.

Consulting–related party

Consulting – related party services were $75,450 and $76,700 for the years ended July 31, 2025 and 2024, respectively, a decrease of $1,250 or 1.6%. Fees are paid to Noel Schaefer, Director, but are billed as consulting fees. For the years ended July 31, 2025 and 2024, we paid an additional $3,450 and $4,700, respectively, to our CEO for consulting fees.

Professional fees

Professional fees were $81,770 and $33,850 for the years ended July 31, 2025 and 2024, respectively, an increase of $47,920, or 141.6%. Professional fees generally consist of legal and audit expenses. In the current year our legal fees increased approximately $48,000.

General and administrative

General and administrative expenses were $50,758 and $21