Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 160

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 160
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ASU
2023-09, Income Taxes: Improvements to Income Tax Disclosures

In
December 2023, FASB issued a final standard on improvements to income tax disclosures. The standard requires disaggregated information
about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The Company adopted the
new standard effective January 1, 2025, and will include certain additional disclosures in the notes to its consolidated financial statements
for the year ending December 31, 2025.

Recently
Issued Accounting Pronouncements and Disclosures Not Yet Adopted

ASU
2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures

In
November 2024, FASB issued an ASU which will require entities to provide disaggregated disclosure of specified categories of expenses
that are included on the face of the income statement, including: purchases of inventory, employee compensation, depreciation, amortization
and depletion. This ASU becomes effective January 1, 2027. The Company is assessing the impact of this ASU, and upon adoption, may be
required to include certain additional disclosures in the notes to its consolidated financial statements.

Item
3. Quantitative and Qualitative Disclosures About Market Risk

Quantitative
and qualitative disclosures about market risk have been omitted as permitted under rules applicable to smaller reporting companies.

Item
4. Controls and Procedures

Disclosure
Controls and Procedures

We
maintain disclosure controls and procedures, as defined in Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) that are designed to ensure that information required to be disclosed
by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods
specified in the SEC’s rules and forms and that such information is accumulated and communicated to our Chief Executive Officer
and Chief Financial Officer as appropriate to allow timely decisions regarding required disclosure.

We
carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer,
of the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2025. Based on the evaluation
of these disclosure controls and procedures, management concluded that the Company’s disclosure controls and procedures were effective
as of September 30, 2025.

Changes
in