Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 391

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 391
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 December 31, 2024 and 2023.

  Years Ended December,  Increase/   2024  2023  (Decrease) General and Administrative $520,378  $1,065,893  $(545,515)Depreciation and Amortization Expenses  727   725   2 Total Operating Expenses  521,105   1,066,618   (545,513)Income (Loss) from Operations  (521,105)  (1,066,618)  545,513 Change in Derivative Liabilities  196,321   3,328,461   (3,132,140)Initial Derivative Expense  (193,582)  (55,065)  (138,517)Bad Debt Expense on Note Receivable  -   (2,219,442)  2,219,442 Loss on Disposal of Property, Plant and Equipment  (2,531)  -   (2,531)Loss on Extinguishment of Debt  (13,043)  6,313,102   (6,326,145)Interest Expense  (415,842)  (277,651)  (138,191)Income (Loss) from Operations Before Taxes  (949,782)  6,022,787   (6,972,569)Net Income (Loss) from Continued Operations  (949,782)  6,022,787   (6,972,569)Net Income (Loss) from Discontinued Operations  -   (497,581)  497,581 Gain on Sale of Mine Property in Discontinued Operations  -   7,230,453   (7,230,453)Net Income (Loss) from Discontinued Operations  -   6,732,872   (6,732,872)Net Income (Loss) $(949,782) $12,755,659  $(13,705,441)

 21Table of Contents

Operating Expenses

Operating expenses for the years ended December 31, 2024 and 2023 were $521,105 and $1,066,618, respectively. The decrease in operating expenses for 2024 compared to