# EDGAR Filing Document

**Accession Number:** 0001680689
**File Stem:** 0001640334-26-000464
**Filing Date:** 2026-3
**Character Count:** 65054
**Document Hash:** 9e6978ae7953bb49ff0ce505bb0400a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001640334-26-000464.hdr.sgml**: 20260318

**ACCESSION NUMBER**: 0001640334-26-000464

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260318

**DATE AS OF CHANGE**: 20260318

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Natural Resource Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001680689
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-NONSTORE RETAILERS [5960]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 320500871
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-213553
- **FILM NUMBER:** 26764742

**BUSINESS ADDRESS:**
- **STREET 1:** 7500 RIALTO BOULEVARD OAK HILL
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78735
- **BUSINESS PHONE:** 4159685642

**MAIL ADDRESS:**
- **STREET 1:** 7500 RIALTO BOULEVARD OAK HILL
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78735

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Boxxy Inc.
- **DATE OF NAME CHANGE:** 20160725

?xml version='1.0' encoding='ASCII'? boxxy_10q.htm

**U.S. SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 10-Q**

Mark One

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended **<u>January 31, 2026</u>**

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______

Commission File No. **333-213553**

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| |
|:---|
| **Natural Resource Holdings, Inc.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | | |
|:---|:---|:---|
| **Nevada** | **5960**  | **32-0500871** |
| (State or Other Jurisdiction of <br>Incorporation or Organization) | (Primary Standard Industrial <br>Classification Number) | (IRS Employer <br>Identification Number) |

---

**9980 S 300 W Suite 200, Sandy, UT 84070**

**415-968-5642**

**<u>boxxyinc@vivaldi.net</u>**

(Address and telephone number of principal executive offices)

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒&nbsp;&nbsp;&nbsp;&nbsp; No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one)

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated Filer | ☐ | Smaller reporting company | ☒ |
| (Do not check if a smaller reporting company) | (Do not check if a smaller reporting company) | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years. N/A

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes ☐&nbsp;&nbsp;&nbsp;&nbsp; No ☒

Indicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.

5,589,891 Shares of Common Stock as of March 10, 2026

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **[PART I - FINANCIAL INFORMATION](#P1)** | **[PART I - FINANCIAL INFORMATION](#P1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 1.](#I1A1)** | **[Unaudited Condensed Financial Statements](#I1A1)** | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 2.](#I2A)** | **[Management's Discussion and Analysis of Financial Condition and Results of Operations](#I2A)** | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 3.](#I3A)** | **[Quantitative and Qualitative Disclosures About Market Risk](#I3A)** | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 4.](#I4A)** | **[Controls and Procedures](#I4A)** | 19 |
| **[PART II - OTHER INFORMATION](#P2)** | **[PART II - OTHER INFORMATION](#P2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 1.](#I1)** | **[Legal Proceedings](#I1)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 1A.](#I1A)** | **[Risk Factors](#I1A)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 2.](#I2)** | **[Unregistered Sales of Equity Securities and Use of Proceeds](#I2)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 3.](#I3)** | **[Defaults Upon Senior Securities](#I3)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 4.](#I4)** | **[Mine Safety Disclosures](#I4)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 5.](#I5)** | **[Other Information](#I5)** | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;**[Item 6.](#I6)** | **[Exhibits](#I6)** | 20 |
| **[SIGNATURES](#SIG)** | **[SIGNATURES](#SIG)** | 21 |

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| 2 |
| *[**Table of Contents**](#TOC)* |

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**PART I - FINANCIAL INFORMATION**

**Item 1. Financial Statements** 

**NATURAL RESOURCE HOLDINGS, INC.**

**CONDENSED BALANCE SHEETS**

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| | | |
|:---|:---|:---|
|  | **January 31, 2026** | **April 30, 2025** |
|  | **(Unaudited)** | **(Audited)** |
| **ASSETS**  |  |  |
| **Current Assets**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Assets | $- | $- |
| **Non-current Assets**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mining property rights, net | 35314 | 36785 |
| **TOTAL ASSETS**  | $35314 | $36785 |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT**  |  |  |
| **Current Liabilities**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | $22084 | $31514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 18710 | 15555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible note payable, net of note discount of $0 and $2,293, respectively | 171251 | 168958 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan payable |  | 6973 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax interest and penalty payable | 125000 | 125000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities | 337045 | 348000 |
| **Non-current Liabilities**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loan payable | 6973 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible note payable, non-current | 33110 | - |
| **TOTAL LIABILITIES**  | 377128 | 348000 |
| **Stockholders' Deficit**  |  |  |
| Common stock, par value $0.001; 75,000,000 shares authorized, 5,589,891 shares issued and outstanding | 5590 | 5590 |
| Additional paid-in capital | 2196210 | 2196210 |
| Accumulated deficit | (2543614) | (2513015) |
| Total Stockholders' Deficit | (341814) | (311215) |
| **TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT**  | $35314 | $36785 |

---

The accompanying notes are an integral part of these unaudited condensed financial statements.

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| |
|:---|
| 3 |
| *[**Table of Contents**](#TOC)* |

---

**NATURAL RESOURCE HOLDINGS, INC.**

**CONDENSED STATEMENTS OF OPERATIONS**

**(Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended**  | **Nine Months Ended**  |
|  | **January 31,** | **January 31,** | **January 31,** | **January 31,** |
|  | **2026** | **2025** | **2026** | **2025** |
| **OPERATING EXPENSES** |  |  |  |  |
| General and administrative expenses | $7644 | $7344 | $23681 | $22426 |
| Amortization on mining property rights | 490 | 491 | 1471 | 1472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Operating Expenses | 8134 | 7835 | 25152 | 23898 |
| Loss from operations | (8134) | (7835) | (25152) | (23898) |
| **OTHER EXPENSES** |  |  |  |  |
| Interest expense | (1668) | (1743) | (5447) | (5094) |
| Other expenses, net | (1668) | (1743) | (5447) | (5094) |
| Loss before income taxes | (9802) | (9578) | (30599) | (28992) |
| Provision for income taxes | - | - | - | - |
| **NET LOSS** | $(9802) | $(9578) | $(30599) | $(28992) |
| **NET LOSS PER SHARE: BASIC AND DILUTED** | $(0.00) | $(0.00) | $(0.01) | $(0.01) |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED** | 5589891 | 5675605 | 5589891 | 5698546 |

---

The accompanying notes are an integral part of these unaudited condensed financial statements.

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|:---|
| 4 |
| *[**Table of Contents**](#TOC)* |

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**NATURAL RESOURCE HOLDINGS, INC.**

**CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT**

**FOR THE NINE MONTHS ENDED JANUARY 31, 2026 AND 2025**

**(Unaudited)**

**Nine Months Ended January 31, 2026**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Number of Shares** | **Amount** | **Additional** <br>**Paid-in** <br>**Capital** | <br>**Accumulated**<br>**Deficit** | **Total** <br>**Stockholders'** <br>**Deficit** |
| **Balance - April 30, 2025** | 5589891 | 5590 | 2196210 | (2513015) | (311215) |
| Net loss | - | - | - | (10976) | (10976) |
| **Balance - July 31, 2025** | 5589891 | $5590 | $2196210 | $(2523991) | $(322191) |
| Net loss |  |  |  | (9821) | (9821) |
| **Balance - October 31, 2025** | **5589891** | $**5590** | $**2196210** | $**(2533812)** | $**(332012)** |
| Net loss |  |  |  | (9802) | (9802) |
| **Balance - January 31, 2026** | **5589891** | $**5590** | $**2196210** | $**(2543614)** | $**(341814)** |

---

**Nine Months Ended January 31, 2025**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Number of Shares** | **Amount** | **Additional** <br>**Paid-in** <br>**Capital** | <br>**Accumulated**<br>**Deficit** | **Total** <br>**Stockholders'** <br>**Deficit** |
| **Balance - April 30, 2024** | **5709891** | $**5710** | $**2196090** | $**(2462482)** | $**(260682)** |
| Net loss | - | - | - | (9162) | (9162) |
| **Balance - July 31, 2024** | **5709891** | $**5710** | $**2196090** | $**(2471644)** | $**(269844)** |
| Net loss | **-** | **-** | **-** | (10252) | **(10252)** |
| **Balance - October 31, 2024** | **5709891** | $**5710** | $**2196090** | $**(2481896)** | $**(280096)** |
| Cancellation of common stock | (120000) | (120) | 120 |  |  |
| Net loss | - | - | - | (9578) | (9578) |
| **Balance - January 31, 2025** | **5589891** | $**5590** | $**2196210** | $**(2491474)** | $**(289674)** |

---

The accompanying notes are an integral part of these unaudited condensed financial statements

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| 5 |
| *[**Table of Contents**](#TOC)* |

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**NATURAL RESOURCE HOLDINGS, INC.**

**CONDENSED STATEMENTS OF CASH FLOWS** 

**(Unaudited)**

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| | | |
|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |
|  | **January 31,**  | **January 31,**  |
|  | **2026** | **2025** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |
| Net loss | $(30599) | $(28992) |
| Adjustments to reconcile net loss to net cash from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization on mining property rights | 1471 | 1472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization on note discount | 2293 | 2583 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | (9430) | (2617) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 3155 | 2511 |
| Net cash used in operating activities | (33110) | (25043) |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of convertible notes from unaffiliated party | 33110 | 25043 |
| Net cash provided by financing activities | 33110 | 25043 |
| Net change in cash and cash equivalents |  |  |
| Cash and cash equivalents - beginning of period | - | - |
| Cash and cash equivalents - end of period | $- | $- |
| Supplemental Cash Flow Disclosures |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes | $- | $- |
| Supplemental Disclosures of Non-Cash Investing and Financing Activities |  |  |
| Cancellation of shares | $- | $120 |

---

The accompanying notes are an integral part of these unaudited condensed financial statements.

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|:---|
| 6 |
| *[**Table of Contents**](#TOC)* |

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**NATURAL RESOURCE HOLDINGS, INC.**

**NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS**

**JANUARY 31, 2026**

**NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS**

Natural Resource Holdings, Inc. (the "Company") was incorporated in Nevada on April 19, 2016. We were a development stage company that intended to develop an online beauty sample subscription service.

On November 26, 2020, the Company completed an acquisition of working interests in certain mining properties. The mining property right was fully impaired during the year ended April 30, 2022.

On October 18, 2022, majority of the Company's shareholders approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to twenty (20) old shares for one (1) new share of common stock. The reverse stock split was approved by FINRA for approval on February 21, 2023. The financial statements retroactively reflect the reverse stock split.

On January 8, 2023, the Company entered into an agreement with a surveying consulting firm for mining and mineral exploration and surveying services on Potter County, PA Utica Shale area oil and gas properties.

On February 14, 2023, the Company's name changed to Natural Resources Holdings, Inc. and the Company trading symbol changed to "NRHI" effective March 21, 2023.

We are currently focusing on mining business.

**NOTE 2 - GOING CONCERN**

The Company's financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the financial statements, the Company had an accumulated deficit of 2,543,614. For the nine months ended January 31, 2026, the Company suffered from a net loss of $30,599 and working capital deficit of $337,045.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company's cash position may not be sufficient to support the Company's daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the financial support from its major shareholder, Chief Executive Officer and the Company's ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering.

The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

<u>Basis of Presentation</u>

The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended January 31, 2026 are not necessarily indicative of the results that may be expected for the year ending April 30, 2026. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2025 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended April 30, 2025 included in the Company's Form 10-K as filed with the Securities and Exchange Commission on July 11, 2025.

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<u>Use of Estimates</u>

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

<u>Fair Value of Financial Instruments</u>

ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of accounts payable and accrued liabilities, accrued interest, current portion of long-term debt, other party loan and loan from director approximates its fair value due to their short-term maturity.

<u>Convertible Financial Instruments</u>

The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments if certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not remeasured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur, and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule is when the host instrument is deemed to be conventional, as that term is described under applicable U.S. GAAP.

<u>Mining Property</u>

Costs of lease, exploration, carrying and retaining unproven mineral properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred as it is still in the exploration stage. If the Company identifies proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it would enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs are amortized on a units-of-production basis over the proven and probable reserves following the commencement of production.

Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.

To date, the Company has not established the commercial feasibility of any exploration prospects; therefore, all exploration costs are being expensed.

ASC 930-805, "Extractive Activities-Mining: Business Combinations" states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights which are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims.

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ASC 930-805 provides that in measuring the fair value of mineral assets, an acquirer should take into account both:

(a) The value beyond proven and probable reserves ("VBPP") to the extent that a market participant would include VBPP in determining the fair value of the assets.

(b) The effects of anticipated fluctuations in the future market price of minerals in a manner that is consistent with the expectations of market participants.

The Company assesses the carrying costs of the capitalized mineral properties for impairment under ASC 360-10, "Impairment of long-lived assets", and evaluates its carrying value under ASC 930-360, "Extractive Activities - Mining", annually. An impairment is recognized when the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral properties. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral properties over its estimated fair value.

Based on the Company's evaluation, no impairment has been recorded on the mineral properties for the period ended January 31, 2026.

On January 8, 2023, the Company incurred mining exploration expense of $8,500 for surveying services on Potter County, PA Utica Shale area oil and gas properties performed during January and February 2023.

During January 31, 2024, the Company purchased a mining claim (the Montreal Star Property) of $34,487 and a mining claim (Union Park 002) of $4,750. (Note 4)

The mining property rights are amortized over estimated useful life of 20 years.

<u>Intangible Assets</u>

The Company accounts for intangible assets (including mining right) in accordance with ASC 350 "Intangibles-Goodwill and Other."

ASC 350 requires that goodwill and other intangibles with indefinite lives be tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of an asset has decreased below its carrying value. In addition, ASC 350 requires that goodwill be tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis and between annual tests when circumstances indicate that the recoverability of the carrying amount of goodwill may be in doubt. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value. Significant judgments required to estimate the fair value of reporting units include estimating future cash flows, determining appropriate discount rates and other assumptions. Changes in these estimates and assumptions or the occurrence of one or more confirming events in future periods could cause the actual results or outcomes to materially differ from such estimates and could also affect the determination of fair value and/or goodwill impairment at future reporting dates.

The cost of intangible assets with determinable useful lives is amortized to reflect the pattern of economic benefits consumed, either on a straight-line or accelerated basis over the estimated periods benefited. Patents, technology and other intangibles with contractual terms are generally amortized over their respective legal or contractual lives. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted.

<u>Revenue Recognition</u>

The Company recognized revenue from the sales of mineral products produced from mining operations in accordance with ASC 606,"Revenue Recognition" following the five steps procedure:

Step 1: The contract has been signed by both parties or when the invoice has been generated and provided to the customer

Step 2: The performance obligations are stated or implied in the contract or invoice

Step 3: The transaction price has been identified in the contract or invoice

Step 4: The Company has allocated the transaction price to the performance obligations pursuant to the contract or invoice

Step 5: The Company satisfied the performance obligations when the mineral products delivered to the purchaser

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The Company recognized revenue from the royalty revenue in accordance with ASC 606,"Revenue Recognition" following the five steps procedure:

Step 1: The contract has been signed by both parties for royalty fees

Step 2: The performance obligations are stated or implied in the contract

Step 3: The transaction price has been identified in the contract

Step 4: The Company has allocated the transaction price to the performance obligations pursuant to the contract

Step 5: The Company has satisfied the performance obligations at the same period as the sales that generate the royalty payment.

Inherent in the fair value calculation of an ARO are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the fair value of the existing ARO liability, a corresponding adjustment is made to the mining property balance. Settlements greater than or less than amounts accrued as ARO are recorded as a gain or loss upon settlement.

<u>Income Tax</u>

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance on deferred tax assets is established when management considers it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Tax benefits from an uncertain tax position are only recognized if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. Interest and penalties related to unrecognized tax benefits are recorded as incurred as a component of income tax expense. The Company has not recognized any tax benefits from uncertain tax positions for any of the reporting periods presented.

The Company has not filed income tax returns from year ended April 30, 2016 through April 30, 2020. $25,000 annual late tax filing interest and penalty was accrued for an aggregate amount of $125,000.

<u>Related Party Balances and Transactions</u>

The Company follows FASB ASC 850, "Related Party Disclosures," for the identification of related parties and disclosure of related party transaction. (Note 5).

<u>Basic and Diluted Income (Loss) Per Share</u>

The Company computes income (loss) per share in accordance with FASB ASC 260, "Earnings per Share" which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

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As of January 31, 2026 and January 31, 2025, convertible notes were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **January 31,** | **January 31,** | **January 31,** | **January 31,** |
|  | **2026** | **2026** | **2025** | **2025** |
|  | **(Shares)** | **(Shares)** | **(Shares)** | **(Shares)** |
| Convertible note payable |  | 583,889 |  | 444,603 |

---

As of January 31, 2026 and January 31, 2025, the total convertible shares from convertible notes totaling $204,361 and $155,611 issued to an unaffiliated party from February 4, 2022 through January 31, 2026 with conversion rate of $0.35 per shares was 583,889 shares and 444,603 shares. (Note 6).

<u>Recent accounting pronouncements</u>

In November 2024, the FASB issued ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20) - Induced Conversions of Convertible Debt Instruments which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion or extinguishment of convertible debt. The new guidance is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual periods. We are currently evaluating the impact this update will have on our financial statements and disclosures.

In December 2025, the FASB issued ASU No.2025-11- Interim Reporting (Topic270): Narrow-Scope Improvements which is designed to improve the navigability of interim reporting guidance and clarify its applicability without fundamentally changing the nature of interim reporting. In introduces a principle requiring entities to disclose events or changes since the last annual reporting period that have a material impact on the entity. The new guidance is effective for annual reporting periods beginning December 15, 2027. Early adoption is permitted. We are currently evaluating the impact this update will have on our financial statements and disclosures.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

Management has considered all recent accounting pronouncements issued. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements.

<u>Recently adopted accounting standards</u>

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which require public companies disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The guidance is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is applied retrospectively to all periods presented in the financial statements, unless it is impracticable. The adoption of ASU 2023-07 has not had a material effect on the Company's statements and disclosures.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures ("ASU 2023-09"), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company prospectively to all annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of ASU 2023-09 has not had a material effect on the Company's statements and disclosures.

The Company does not expect that any other recently issued accounting pronouncements will have a significant effect on its financial statements.

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**NOTE 4 – MINING PROPERTY RIGHTS**

During January 31, 2024, the Company purchased a mining claim (the Montreal Star Property) of $34,487 and a mining claim (Union Park 002) of $4,750.

---

| | |
|:---|:---|
| Carry Amount as of April 30, 2024 | $38747 |
| Less: Amortization | (1962) |
| Less: Impairment | - |
| Carrying Amount as of April 30, 2025 | $36785 |
| Less: Amortization | (1471) |
| Less: Impairment | - |
| Carrying Amount as of January 31, 2026 | $35314 |

---

The Company has acquired the mining property rights on the two mining properties which consist of the legal right to explore, extract and also expect to retain at least a portion of the benefits from mineral deposits. The plan is to start drilling tests and the mining operations will commence once it is viable to do so. Currently, the Company is in the process of engaging an exploration company to handle the project. The surveying and exploration proposals consist of drilling vertical holes into the ground to identify the best locations to mine. There are proposals to drill from 6 to 50 holes, and the Company is still evaluating the proposals to find the best plan. The development stage will start upon successful conclusion of exploration stage. During the period, the Company is deciding between several options for the exploration stage and as of the date of this financial statement, the conclusion is yet to be made.

The mining property rights are amortized over estimated useful life of 20 years. During the nine months ended January 31, 2026 and 2025, the amortization was $1,471 and $1,472, respectively. As of January 31, 2026 and April 30, 2025, Mining Property Rights were $35,314 and $36,785, net of accumulated amortization of $3,923 and $2,452, respectively.

**NOTE 5 - RELATED PARTY TRANSACTIONS**

On July 1, 2021, the Company issued a promissory note of $153,913 to the Company's director for previous operating expenses of $28,913 and acquisition of mining interest of $125,000 which were paid by the director on the Company's behalf as of April 30, 2021. The note is unsecured with annual interest rate of 2% and has a mature date of December 31, 2022.

In December 2020, the Company acquired several gold mining claims in Canada. The Company planned for exploration on the properties. Due to Covid and economic downturn, the Company was unable to proceed with the mining property exploration. Upon the expiration of the two years term of the property mining rights, the Company decided not to extend beyond the original term of the mining rights and was fully impaired during year ended April 30, 2022.

On July 31, 2021, the Company issued a promissory note of $2,822 for the amount the related party paid to the vendors on behalf of the Company during the three months ended July 31, 2021. The note is unsecured with annual interest rate of 2% and has a mature date of December 31, 2022.

On October 31, 2021, the Company issued a promissory note of $11,450 for the amount the related party paid to the vendors on behalf of the Company during the three months ended October 31, 2021. The note is unsecured with annual interest rate of 2% and has a mature date of December 31, 2022.

On January 31, 2022, the Company issued a promissory note of $7,021 for the amount the related party paid to the vendors on behalf of the Company during the three months ended January 31, 2022. The note is unsecured with annual interest rate of 2% and has a mature date of December 31, 2022.

On February 4, 2022, the Company's director sold the promissory notes with aggregate principal of $175,206 and accrued interest of $1,956 to an unaffiliated party. (Note 6)

On June 7, 2023, the Company issued 5,000,000 shares of common stock to the Director of the Company valued at $2,000,000 as management salaries for the period from September 29, 2020 to September 28, 2022.

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**NOTE 6 – CONVERTIBLE NOTE PAYABLE**

As of January 31, 2026 and April 30, 2025, the convertible note payable was shown as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Expiry Date** | **January 31,**<br>**2026** | **April 30,**<br>**2025** |
| Convertible Note - February 2022 | 12/31/2025 | $206 | $206 |
| Convertible Note - April 2022 | 12/31/2025 | 2500 | 2500 |
| Convertible Note - July 2022 | 12/31/2025 | 7600 | 7600 |
| Convertible Note - October 2022 | 12/31/2025 | 11725 | 11725 |
| Convertible Note - January 2023 | 12/31/2025 | 12500 | 12500 |
| Convertible Note - April 2023 | 12/31/2025 | 15755 | 15755 |
| Convertible Note - July 2023 | 12/31/2025 | 14394 | 14394 |
| Convertible Note - October 2023 | 12/31/2025 | 13550 | 13550 |
| Convertible Note - January 2024 | 12/31/2025 | 48437 | 48437 |
| Convertible Note - April 2024 | 12/31/2025 | 3900 | 3900 |
| Convertible Note - July 2024 | 12/31/2025 | 16394 | 16394 |
| Convertible Note - October 2024 | 12/31/2025 | 4878 | 4878 |
| Convertible Note - January 2025 | 12/31/2025 | 3772 | 3772 |
| Convertible Note - April 2025 | 12/31/2025 | 15640 | 15640 |
| Convertible Note - July 2025 | 12/31/2030 | 18610 |  |
| Convertible Note - October 2025 | 12/31/2030 | 4250 |  |
| Convertible Note - January 2026 | 1/31/2031 | 10250 | - |
|  |  | 204361 | 171251 |
| Less debt discount |  | - | (2293) |
|  |  | 204361 | 168958 |
| Less non-current portion |  | (33110) | - |
| Current portion |  | $171251 | $168958 |

---

On February 11, 2022, the Company entered into an agreement with the unaffiliated note holder of the promissory note of $175,206 sold to him on February 4, 2022 for the amendment of the promissory note to convertible note which bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock. With the adoption of ASU2020-06, the Company did not record beneficial conversion feature ("BCF") on the convertible note. The Company assessed the note amendment for a debt extinguishment or modification in accordance with ASC 470-50. Although the change in fair value of the note from the note amendment was calculated at 3% which fell below 10% of the carrying value of the original convertible note, the additional of a note conversion feature indicates the note amendment is regarded as a note extinguishment. On February 11, 2022, gain on note extinguishment of $13,344 and note discount of $13,344 was recognized. On September 13, 2023, the Company issued 500,000 shares of common stock for the conversion of principal amount of $175,000. As of January 31, 2026, the convertible note payable was $206.

From April 30, 2022 to April 30, 2025, the Company issued convertible notes totaling $171,045 to an unaffiliated party who paid to the vendors on behalf of the Company.

The terms of the convertible notes are summarized as follows:

---

| |
|:---|
| Maturity date of December 31, 2025 |
| Annual Interest Rate of 2% |
| Convertible at $0.35 per share |

---

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During the nine months ended January 31, 2026, the Company issued convertible notes totaling of $33,110 to an unaffiliated party who paid to the vendors on behalf of the Company.

The terms of the convertible notes are summarized as follows:

---

| |
|:---|
| Maturity date ranged from December 31, 2030 to January 31, 2031 |
| Annual Interest Rate of 2% |
| Convertible at $0.35 per share |

---

During the nine months ended January 31, 2026 and 2025, interest expense of $2,838 and $2,195 was incurred, respectively. As of January 31, 2026 and April 30, 2025, accrued interest was $15,427 and $12,589, respectively.

During the nine months ended January 31, 2026 and 2025, amortization on note discount of $2,293 and $2,583 was incurred, respectively.

As of January 31, 2026 and April 30, 2025, the current portion of convertible notes payable, net of note discount of $0 and $2,293, was $171,251 and $168,958, respectively.

As of January 31, 2026 and April 30, 2025, the non-current portion of convertible notes payable was $33,110 and $0, respectively.

**NOTE 7 - LOAN PAYABLE**

The Company has outstanding loan payable of $6,973 and $6,973 as of January 31, 2026 and April 30, 2025, respectively. The loan payable is unsecured with annual interest rate of 6% and had an original maturity date of April 20, 2020. The maturity date is extended through April 20, 2025. The maturity date of the loan was further extended through April 20, 2030.

Interest expense was $316 and $316 for the nine months ended January 31, 2026 and 2025, respectively.

As of January 31, 2026 and April 30, 2025, accrued interest was $3,283 and $2,966 respectively.

**NOTE 8 - STOCKHOLDER'S EQUITY**

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On October 18, 2022, the sole director of the Company approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to twenty (20) old shares for one (1) new share of common stock. The reverse stock split was approved by FINRA for approval on February 21, 2023. The financial statements retroactively reflect the reverse stock split.

As of January 31, 2026 and April 30, 2025 the Company had 5,589,891 shares issued and outstanding.

**NOTE 9 – SEGMENT REPORTING**

Operating segments comprised of the components of an entity in which separate information is available for evaluation by the Company's chief operating decision maker, or group of decision makers, in determining how to allocate resources in evaluating performance. The Company consists of a single reporting segment: Mining business. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer.

The accounting policies of the mining segment are as described in the summary of significant accounting policies. Upon commencement of its mining project, the CODM will evaluate the performance of the mining segment based on the Company's net income as reported in the Statements of Operations. The Company's segment assets are reported on the Balance Sheets.

The CODM reviews performance based on gross profit, operating profit and net earnings. Operating profit is reviewed to monitor the operating and administrative expenses of the Company. Profitability is important to the Company's ability to grow and expand operations and strategic initiatives. The Company does not have any operations or sources of outside of Untied States of America.

**NOTE 10 – SUBSEQUENT EVENTS**

In accordance with ASC 855, "Subsequent Events," the Company has analyzed its operations subsequent to January 31, 2026 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations** 

FORWARD-LOOKING STATEMENTS

This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

GENERAL

We were incorporated in the State of Nevada on April 16, 2018. We were engaged in the business of selling beauty sample subscriptions.

In December 2020, we acquired several gold mining claims in Canada as we have switched our focus to the mining industry. We planned to begin exploration on the properties. Due to Covid and economic downturn, we were unable to proceed with the mining property exploration. Upon the expiration of the two years term of the property mining rights, we decided not to extend beyond the original term of the mining rights and was fully impaired through year ended April 30, 2023.

On October 18, 2022, majority of the Company's shareholders approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to twenty (20) old shares for one (1) new share of common stock. The reverse stock split was approved by FINRA for approval on February 21, 2023. The financial statements retroactively reflect the reverse stock split.

On January 8, 2023, the Company entered into an agreement with a surveying consulting firm for mining and mineral exploration and surveying services on Potter County, PA Utica Shale area oil and gas properties.

On February 14, 2023, the Company's name changed to Natural Resources Holdings, Inc. and the Company trading symbol changed to "NRHI" effective March 21, 2023.

We are currently in negotiations to acquire other mining rights in Canada.

EMPLOYEES AND EMPLOYMENT AGREEMENTS

At present, we have no employees other than our officer and director. We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any officers, directors or employees.

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**Results of Operations**

We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

The following summary of our operations should be read in conjunction with our unaudited condensed financial statements for the three months and nine months ended January 31, 2026 and 2025, which are included herein.

**Three Months Ended January 31, 2026 and 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |  |
|  | **January 31,** | **January 31,** | **Changes** | **Changes** |
|  | **2026** | **2025** | **Amount** | **%** |
| Operating Expenses | $(8134) | $(7835) | $(299) | 4% |
| Other Expenses | (1668) | (1743) | 75 | (4%) |
| Net Loss  | $(9802) | $(9578) | $(224) | 2% |

---

During the three months ended January 31, 2026 and 2025, the Company did not earn any revenue.

Net loss for the three months ended January 31, 2026 was $9,820 compared to $9,578 for the three months ended January 31, 2025. The increase in net loss during the three months ended January 31, 2026 was due to a increase in audit fees.

**Nine Months Ended January 31, 2026 and 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |  |  |
|  | **January 31,** | **January 31,** | **Changes** | **Changes** |
|  | **2026** | **2025** | **Amount** | **%** |
| Operating Expenses | $(25152) | $(23898) | $(1254) | 5% |
| Other Expenses | (5447) | (5094) | (353) | 7% |
| Net Loss | $(30599) | $(28992) | $(1607) | 6% |

---

During the nine months ended January 31, 2026 and 2025, the Company did not earn any revenue.

Net loss for the nine months ended January 31, 2026 was $30,599 compared to $28,992 for the nine months ended January 31, 2025. The increase in net loss during the nine months ended January 31, 2026 was due to an increase in audit fees.

**Liquidity and Capital Resources**

Working Capital

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of** <br>**January 31,** | **As of** <br>**April 30,** | **Changes** | **Changes** |
|  | **2026** | **2025** | **Amount** | **%** |
| Current Assets | $- | $- | $- |  |
| Current Liabilities | $337045 | $348000 | $(10955) | (3.1%) |
| Working Capital Deficiency | $(337045) | $(348000) | $10955 | (3.1%) |

---

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We had no current assets as of January 31, 2026 and April 30, 2025. Our total current liabilities as of January 31, 2026 were $337,045 as compared to total current liabilities of $348,000 as of April 30, 2025. Our working capital deficiency as of January 31, 2026 was $337,045 as compared $348,000 as of April 30, 2025 due to the decrease in accounts payable and accrued liabilities and reclass of loan payable to non-current labilities.

Cash Flows

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |  |  |
|  | **January 31,** | **January 31,** | **Changes** | **Changes** |
|  | **2026** | **2025** | **Amount** | **%** |
| Cash flows used in operating activities | $(33110) | $(25043) | $(8067) | 32% |
| Cash flows used in investing activities |  |  |  |  |
| Cash flows provided by financing activities | 33110 | 25043 | 8067 | 32% |
| Net changes in cash  | $- | $- | $- | - |

---

<u>Cash Flows from Operating Activities</u>

Net cash used in operating activities was $33,110 for the nine months ended January 31, 2026 compared with $25,043 for the nine months ended January 31, 2025.

During the nine months ended January 31, 2026, the net cash used in operating activities was attributed to net loss of $30,599, decreased by amortization on mining property rights of $1,471 and amortization of note discount of $2,293, and increased by net changes in operating assets and liabilities of $6,275.

During the nine months ended January 31, 2025, the net cash used in operating activities was attributed to net loss of $28,992, decreased by amortization on mining property rights of $1,472 and amortization of note discount of $2,583, and increased by net changes in operating assets and liabilities of $106.

<u>Cash Flows from Investing Activity</u>

There were no investing activities during the nine months ended January 31, 2026 and 2025.

<u>Cash Flows from Financing Activity</u>

During the nine months ended January 31, 2026 and 2025, net cash from financing activity was $33,110 and $25,043 derived from proceed from issuance of convertible notes to unaffiliated party, respectively.

**Going Concern**

The Company's financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the financial statements, the Company had an accumulated deficit of $2,543,614, and working capital deficit of $337,045 at January 31, 2026.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company's cash position may not be sufficient to support the Company's daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the financial support from its major shareholder, Chief Executive Officer and the Company's ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering.

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The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**Plan of Operation and Funding**

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of software; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavours or opportunities, which could significantly and materially restrict our business operations.

**Contractual Obligations**

As a "smaller reporting company", we are not required to provide tabular disclosure obligations.

**Off-Balance Sheet Arrangements**

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

**Critical Accounting Policies**

The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements' estimates or assumptions could have a material impact on our financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. Our financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

**Recent Accounting Pronouncements**

Management has considered all recent accounting pronouncements issued. Our company's management believes that these recent pronouncements will not have a material effect on our financial statements.

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**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 4. Controls and Procedures**

<u>Disclosure Controls and Procedures</u>

Our management, with the participation of our Chief Executive Officer (our principal executive officer, principal financial officer and principal accounting officer), has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our Chief Executive Officer has concluded that as of such date, our disclosure controls and procedures were not effective such that the information relating to us required to be disclosed in our Securities and Exchange Commission ("SEC") reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

<u>Changes in Internal Control Over Financial Reporting</u>

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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**PART II - OTHER INFORMATION**

**Item 1. Legal Proceedings**

None

**Item 1A. Risk Factors**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

None.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not applicable.

**Item 5. Other Information**

None

**Item 6. Exhibits**

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| | |
|:---|:---|
| **[31.1](boxxy_ex311.htm)** | **[Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act](boxxy_ex311.htm)** |
| **[32.1](boxxy_ex321.htm)** | **[Certification of Chief Executive Officer and Chief Financial Officer Under Section 1350 as Adopted Pursuant Section 906 of the Sarbanes-Oxley Act](boxxy_ex321.htm)** |

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**SIGNATURES**

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Natural Resource Holdings, Inc.** | **Natural Resource Holdings, Inc.** |
| Dated: March 18, 2026 | By:  | */s/ Lian Yao Bin*  |
|  |  | **Lian Yao Bin,** <br>President and Chief Executive Officer<br>and Chief Financial Officer |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Lian Yao Bin, Chief Executive Officer and Chief Financial Officer of Natural Resource Holdings, Inc., certify that:

1. I have reviewed this Form 10-Q of Natural Resource Holdings, Inc. (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure control and procedures to be designed under my supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

d) disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Dated: March 18, 2026

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| |
|:---|
| */s/ Lian Yao Bin* |
| **Lian Yao Bin** |
| President, Chief Executive Officer,<br> Chief Financial Officer |

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## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Natural Resource Holdings, Inc.(the "Company") on Form 10-Q for the period ended January 31, 2026 as filed with the Securities and Exchange Commission on or about the date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: March 18, 2026

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| |
|:---|
| */s/ Lian Yao Bin* |
| **Lian Yao Bin** |
| President, Chief Executive Officer,<br> Chief Financial Officer |

---