# EDGAR Filing Document

**Accession Number:** 0001525306
**File Stem:** 0001477932-26-001906
**Filing Date:** 2026-4
**Character Count:** 114096
**Document Hash:** a929713aef4db7cbf15a1d37fb72ace3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-26-001906.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001477932-26-001906

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 56

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First America Resources Corp
- **CENTRAL INDEX KEY:** 0001525306
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 272563052
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56816
- **FILM NUMBER:** 26825118

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 E. ARMSTRONG ST.
- **CITY:** MORRIS
- **STATE:** IL
- **ZIP:** 60450
- **BUSINESS PHONE:** 815-941-9888

**MAIL ADDRESS:**
- **STREET 1:** 1000 E. ARMSTRONG ST.
- **CITY:** MORRIS
- **STATE:** IL
- **ZIP:** 60450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First America Resource Corp
- **DATE OF NAME CHANGE:** 20130930

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First American Resource Corp
- **DATE OF NAME CHANGE:** 20130927

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDEN OASIS NEW ENERGY GROUP, INC.
- **DATE OF NAME CHANGE:** 20110711

?xml version='1.0' encoding='ASCII'? fstj_10k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

(Mark One)

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

**For the fiscal year ended <u>December 31, 2025</u>**

**OR**

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

**For the transition period from _____________ to _____________**

Commission file number: <u>**000-56816**</u>

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| |
|:---|
| **First America Resources Corporation** |
| (Name of small registrant as specified in its charter) |

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| | | |
|:---|:---|:---|
| **Nevada** | **5065** | **27-2563052** |
| (State or other jurisdiction of<br>incorporation or organization) | (Primary Standard Industrial<br>Classification Code Number) | (IRS I.D) |

---

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| | |
|:---|:---|
| **1000 East Armstrong Street, Morris, IL** | **60450** |
| (Address of principal executive offices) | (Zip Code) |

---

Issuer's telephone number: **<u>815-941-9888</u>**

Securities registered pursuant to Section 12(b) of the Act: **None**

Securities registered pursuant to Section 12(g) of the Act: **Common Stock, $0.001 par value**

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer  | ☐ | Accelerated filer  | ☐ |
| Non-accelerated filer | ☒ | 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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐&nbsp;&nbsp;&nbsp;&nbsp; No ☒

The number of outstanding shares of Registrant's Common Stock, $0.001 par value, was 87,964,090 shares as of March 31, 2026

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| **[PART I](#P1)** | **[PART I](#P1)** | **[PART I](#P1)** |
| [Item 1.](#I1) | [Business](#I1) | 4 |
| [Item 1A.](#IT1a) | [Risk Factors](#IT1a) | 7 |
| [Item 1B.](#IT1b) | [Unresolved Staff Comments](#IT1b) | 7 |
| [Item 2.](#IT2) | [Properties](#IT2) | 7 |
| [Item 3.](#IT3) | [Legal Proceedings](#IT3) | 7 |
| [Item 4.](#IT4) | [Mine Safety Disclosures](#IT4) | 7 |
| **[PART II](#P2)** | **[PART II](#P2)** | **[PART II](#P2)** |
| [Item 5.](#IT5) | [Market for Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities](#IT5) | 8 |
| [Item 6.](#IT6) | [\[Reserved\]](#IT6) | 8 |
| [Item 7.](#IT7) | [Management's Discussion and Analysis of Financial Condition and Results of Operation<u>s</u>](#IT7) | 9 |
| [Item 7A.](#IT7a) | [Quantitative and Qualitative Disclosures about Market Risk](#IT7a) | 16 |
| [Item 8.](#IT8) | [Financial Statements](#IT8) | 17 |
| [Item 9.](#IT9) | [Changes In and Disagreements With Accountants on Accounting and Financial Disclosures](#IT9) | 18 |
| [Item 9A.](#IT9a) | [Controls and Procedures](#IT9a) | 18 |
| [Item 9B.](#IT9b) | [Other Information](#IT9b) | 19 |
| **[PART III](#P3)** | **[PART III](#P3)** | **[PART III](#P3)** |
| [Item 10.](#IT10) | [Directors, Executive Officers and Corporate Governance](#IT10) | 20 |
| [Item 11.](#IT11) | [Executive Compensation](#IT11) | 21 |
| [Item 12.](#IT12) | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#IT12) | 22 |
| [Item 13.](#IT13) | [Certain Relationships and Related Transactions, and Director Independence](#IT13) | 23 |
| [Item 14.](#IT14) | [Principal Accountant Fees and Services](#IT14) | 23 |
| [Item 15.](#IT15) | [Exhibits](#IT15) | 24 |

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**USE OF PRONOUNS AND OTHER WORDS**

The pronouns "we", "us", "our" and the equivalent used in this offering circular mean First America Resources Corp. and our consolidated subsidiary METech Recycling, Inc. (METech), a Delaware corporation. In the footnotes to our financial statements, the "Company" means First America Resources Corp. and our consolidated subsidiary. The pronoun "you" means the reader of this annual report on Form 10-K.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION**

This Annual Report on Form 10-K, the other reports, statements, and information that we have previously filed or that we may subsequently file with the Securities and Exchange Commission ("SEC"), and public announcements that we have previously made or may subsequently make include, may include, incorporate by reference or may incorporate by reference certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to enjoy the benefits of that act. Unless the context is otherwise, the forward-looking statements included or incorporated by reference in this Form 10-K and those reports, statements, information and announcements address activities, events or developments that First America Resources Corporation (hereinafter referred to as "we," "us," "our," "Corporation," "the Company," "our Company" or "First America Resources Corporation") expects or anticipates, will or may occur in the future. Any statements in this document about expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "will continue," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would" and "outlook," and similar expressions. Accordingly, these statements involve estimates, assumptions and uncertainties, which could cause actual results to differ materially from those expressed in them. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout this document. All forward-looking statements concerning economic conditions, rates of growth, rates of income or values as may be included in this document are based on information available to us on the dates noted, and we assume no obligation to update any such forward-looking statements. It is important to note that our actual results may differ materially from those in such forward-looking statements due to fluctuations in interest rates, inflation, government regulations, economic conditions and competitive product and pricing pressures in the geographic and business areas in which we conduct operations, including our plans, objectives, expectations and intentions and other factors discussed elsewhere in this Report.

Certain risk factors could materially and adversely affect our business, financial conditions and results of operations and cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by us, and you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and we do not undertake any obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. The risks and uncertainties we currently face are not the only ones we face. New factors emerge from time to time, and it is not possible for us to predict which will arise. There may be additional risks not presently known to us or that we currently believe are immaterial to our business. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. *If any such risks occur, our business, operating results, liquidity, and financial condition could be materially affected in an adverse manner. Under such circumstances, you may lose all or part of your investment.*

The industry and market data contained in this report are based either on our management's own estimates or, where indicated, independent industry publications, reports by governmental agencies or market research firms or other published independent sources and, in each case, are believed by our management to be reasonable estimates. However, industry and market data is subject to change and cannot always be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey of market shares. We have not independently verified market and industry data from third-party sources. In addition, consumption patterns and customer preferences can and do change. As a result, you should be aware that market share, ranking and other similar data set forth herein, and estimates and beliefs based on such data, may not be verifiable or reliable.

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**PART I**

**Item 1. Business**

**Corporate History**

First America Resources Corporation (the "Company," "we," "us," or "our") was incorporated in the State of Nevada in 2010 under the name Golden Oasis New Energy Group, Inc. In 2014, the Company changed its name to First America Resources Corporation.

The Company's principal executive offices are located at 1000 East Armstrong Street, Morris, Illinois 60450, and its telephone number is (815) 941-9888.

METech Recycling, Inc. ("METech Recycling" or "METech"), our wholly owned subsidiary, is headquartered in Gilroy, California and has been engaged in recycling operations since 1968, with business origins dating back to 1875 in precious metal recovery and refining activities.

Following the business combination described in the Company's Report on Form 8-K dated July 18, 2025, METech Recycling operates as a wholly owned subsidiary of the Company and represents the Company's operating business.

**Technology and Data-Driven Processing**

The Company utilizes internally developed and commercially available software systems to support operational decision-making, asset tracking, and materials processing. These systems incorporate automated data analysis tools designed to assist with equipment identification, materials classification, inventory management, and pricing evaluation.

The Company has implemented technology-assisted sorting and evaluation tools that use machine learning techniques to improve the identification and classification of incoming electronic equipment and components. These systems support operational workflows by assisting personnel in determining whether equipment is suitable for refurbishment, resale, or recycling.

In addition, the Company utilizes data analytics and algorithmic pricing models to evaluate secondary market pricing for refurbished equipment and electronic components. These tools assist management in evaluating resale opportunities and optimizing recovery value from IT assets.

The Company continues to evaluate the use of automation and data-driven tools, including artificial intelligence-based systems, to improve operational efficiency, asset classification, and materials recovery processes.

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**Overview of Our Business**

The Company operates in the IT asset disposition ("ITAD") and electronics recycling industry. Our services include refurbishment and resale of IT equipment, secure data destruction, electronics recycling and material recovery, data center decommissioning, and lifecycle management of technology assets.

We refurbish electronic equipment and recover usable components and materials from end-of-life devices. Refurbishable equipment is tested, sanitized, and resold through secondary markets, while non-usable equipment is processed for material recovery.

Products handled by the Company include laptops, desktop computers, servers, networking equipment, SAN and NAS storage systems, telecommunications equipment, monitors, storage devices, processors, memory, and other IT components used in enterprise and industrial applications.

**Our Services**

<u>IT Asset Disposition (ITAD)</u>

We provide enterprise IT asset disposition services including equipment collection, logistics coordination, asset tracking, equipment testing, data destruction, refurbishment, resale preparation, and responsible recycling.

<u>Data Security</u>

Data-bearing devices are sanitized or destroyed in accordance with recognized industry standards including NIST Special Publication 800-88 Guidelines for Media Sanitization and U.S. Department of Defense (DoD) 5220.22-M standards.

<u>Artificial Intelligence Infrastructure Lifecycle Services</u>

The Company provides services related to the retirement and replacement of computing infrastructure associated with artificial intelligence and high-performance computing environments. As enterprises upgrade data center infrastructure to support artificial intelligence workloads, the Company assists customers with the removal, transportation, and processing of legacy servers, storage systems, and networking equipment.

These projects typically involve large-scale server decommissioning and asset disposition activities associated with the replacement of conventional computing infrastructure with AI optimized hardware. The Company provides logistics coordination, asset tracking, equipment testing, data sanitization, and recycling services for these systems.

Equipment removed from AI-related infrastructure upgrades is evaluated for refurbishment, resale in secondary markets, or material recovery through the Company's electronics recycling processes.

<u>Data Center Decommissioning</u>

We assist customers with data center infrastructure upgrades and decommissioning projects, including removal, transportation, and secure processing of servers and networking equipment.

<u>Electronics Recycling</u>

Non-refurbishable equipment is dismantled and processed using mechanical separation technologies designed to recover metals and other materials.

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<u>Renewable Energy and Emerging Technology Recycling</u>

The Company also processes certain emerging technology equipment including solar panels, electric vehicle batteries, and high-performance computing systems.

**Customers**

The Company serves a diverse customer base across several sectors including technology companies, telecommunications providers, defense contractors, educational institutions, and government agencies.

A significant portion of the electronic equipment processed by the Company originates from enterprise IT asset disposition programs and data center decommissioning projects.

The Company has established relationships with large enterprise organizations, including companies that are components of the Fortune 500, which utilize the Company's services for IT asset disposition, electronics recycling, and technology lifecycle management.

**Competition**

The electronics recycling and IT asset disposition industry is competitive and includes regional, national, and international operators engaged in electronics recycling, IT asset management, and materials recovery services.

Some competitors may have greater financial resources or broader geographic coverage than the Company.

The Company seeks to compete based on several operational factors including the use of data-driven processing systems that assist with equipment classification and pricing analysis, established enterprise customer relationships, compliance with environmental and data security standards, and operational locations positioned to support customers across multiple regions of the United States.

Through its operational network and logistics capabilities, the Company is able to provide service coverage to customers across a substantial portion of the United States.

**Properties and Operational Assets**

The Company operates facilities used for electronics processing, refurbishment, logistics, and administrative functions.

The Company's principal processing facility and headquarters are located in Gilroy, California. Additional operational locations support logistics, asset management, and processing activities in several states including Utah, Colorado, Massachusetts, and North Carolina.

In addition to its physical facilities, the Company utilizes operational systems and technology infrastructure that support asset tracking, logistics coordination, and data-driven processing workflows.

The Company has developed internal systems that incorporate automated sorting tools, asset tracking platforms, and pricing analysis models designed to assist management in evaluating resale and recycling opportunities for incoming equipment.

The Company believes that its operational infrastructure, technology systems, and management experience support the efficient processing and recovery of electronic equipment.

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**Government Regulation**

Our operations are subject to federal, state, and local regulations governing environmental protection, hazardous materials management, workplace safety, and transportation of electronic waste.

Applicable regulations include the Resource Conservation and Recovery Act (RCRA), Environmental Protection Agency (EPA) regulations, Occupational Safety and Health Administration (OSHA) standards, and California Department of Toxic Substances Control (DTSC) oversight.

**Environmental Matters**

The Company handles electronic equipment that may contain regulated materials and maintains environmental compliance programs designed to ensure compliance with applicable environmental regulations. These programs include environmental health and safety oversight, hazardous materials tracking and reporting, employee training, internal inspections, and relationships with licensed waste disposal vendors.

**Human Capital Resources**

As of the date of this report, the Company employs approximately 60 full-time employees across executive management, finance, environmental health and safety, sales and marketing, operations and logistics, customer service, and information technology functions.

**Item 1A. Risk Factors**

Not required for Smaller Reporting Companies.

**Item 1B. Unresolved Staff Comments**

None.

**Item 2. Description of Property**

Our corporate office address is at 1000 East Armstrong Street, Morris, IL 60450. Space is being provided at no charge by FAMCe (formerly known as First America Metal Corporation). The property is adequate for our current needs. We do not intend to renovate, improve, or develop properties. We are not subject to competitive conditions for property and currently have no property to insure. We have no policy with respect to investments in real estate or interests in real estate and no policy with respect to investments in real estate mortgages. Further, we have no policy with respect to investments in securities of or interests in persons primarily engaged in real estate activities.

As described above, our operating subsidiary operates a number of leased facilities used for electronics processing, refurbishment, logistics, and administrative functions. The Company's principal processing facility and headquarters are located in Gilroy, California. Additional operational locations support logistics, asset management, and processing activities in several states including Utah, Colorado, Massachusetts, and North Carolina.

**Item 3. Legal Proceedings**

We are not a party to any material legal proceedings nor are we aware of any circumstance that may reasonably lead any third party to initiate material legal proceedings against us.

**Item 4. Mine Safety Disclosures**

Not applicable.

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**PART II**

**Item 5. Market for Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities**

<u>Trading History</u>

Our common stock, $0.001 par value, is quoted on the Over-The-Counter Markets under the symbol "FSTJ." There are 500,000,000 shares authorized, 87,964,090 shares outstanding, 1,576,080 shares in the public float, and 47 shareholders of record.

<u>Bid Information\*</u>

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| | | |
|:---|:---|:---|
| **Financial Quarter Ended** | **High Bid** | **Low Bid** |
| December 31, 2025 | $0.590 | $0.250 |
| September 30, 2025 | $0.250 | $0.005 |
| June 30, 2025 | $0.005 | $0.005 |
| March 31, 2025 | $0.005 | $0.005 |
| December 31, 2024 | $0.175 | $0.005 |
| September 30, 2024 | $0.175 | $0.175 |
| June 30, 2024 | $0.175 | $0.175 |
| March 31, 2024 | $0.245 | $0.175 |

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______________

\* The quotation does not reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions.

<u>Dividends</u>

We have never declared or paid any cash dividends on our common stock. For the foreseeable future, we intend to retain any earnings to finance the development and expansion of our business, and we do not anticipate paying any cash dividends on our common stock. Any future determination to pay dividends will be at the discretion of the Board of Directors and will be dependent upon then existing conditions, including our financial condition and results of operations, capital requirements, contractual restrictions, business prospects and other factors that the Board of Directors considers relevant.

<u>Securities Authorized for Issuance Under Equity Compensation Plans</u>

None.

**Item 6. [Reserved]** 

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**Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation**

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information included in this Form 10-K.

Our Management's Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking. Forward-looking statements are, by their very nature, uncertain and risky. These risks and uncertainties include international, national, and local general economic and market conditions; our ability to sustain, manage, or forecast growth; our ability to successfully make and integrate acquisitions; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; change in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; the risk of foreign currency exchange rate; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission.

Although the forward-looking statements in this Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.

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**Results of Operations**

The following table summarizes our consolidated results of operations for the fiscal years ended December 31, 2025 and 2024.

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|  | **Year Ended**<br>**December 31,**<br>**2025** | **Year Ended**<br>**December 31,**<br>**2024** |
| Revenues | $18790946 | $16206752 |
| Cost of revenues | $8445848 | $7102600 |
| Gross profit | $10345098 | $9104152 |
| Gross margin | 55.1% | 56.2% |
| Total operating expenses | $10531906 | $8807883 |
| Income (loss) from operations | $(186808) | $296269 |
| Interest expense | $(164767) | $(97703) |
| Other income | $354340 | $12546 |
| Net income | $2765 | $211112 |
| Basic and diluted earnings per share | $0.00 | $0.00 |
| Weighted avg. shares outstanding | 87964090 | 87964090 |

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<u>Revenues</u>

Revenues increased by $2,584,194, or approximately 15.9%, from $16,206,752 for the year ended December 31, 2024, to $18,790,946 for the year ended December 31, 2025. This growth reflects increased demand across our core service lines, including electronic equipment recycling, IT asset disposition, data destruction, and data center decommissioning. Management believes the growth in revenue was driven in part by expanding enterprise customer relationships, including projects related to the retirement of computing infrastructure associated with artificial intelligence and high-performance computing environments, as enterprises upgrade legacy data center infrastructure to support AI-optimized hardware workloads.

Revenue concentration risk remains present. For the year ended December 31, 2025, our top three customers accounted for approximately 15%, 13%, and 12% of total revenues, respectively, compared to 20%, 13%, and 11% for the same customers in 2024. The decrease in concentration among our largest customer reflects continued diversification of our customer base. No other individual customer accounted for 10% or more of revenues in 2025.

<u>Cost of Revenues and Gross Profit</u>

Cost of revenues increased by $1,343,248, or approximately 18.9%, from $7,102,600 in 2024 to $8,445,848 in 2025. The increase in cost of revenues was driven by the higher volume of materials processed and services performed, consistent with overall revenue growth. Cost of revenues as a percentage of revenues increased modestly, resulting in a slight compression in gross margin from 56.2% in 2024 to 55.1% in 2025. Management attributes this compression primarily to changes in service and materials mix, increased logistics and transportation costs, and incremental costs associated with new customer onboarding and data center decommissioning projects. Despite this modest compression, gross margin remained at a healthy level reflective of our service-intensive, technology-assisted processing model.

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<u>Operating Expenses</u>

The following table sets forth our operating expenses for the years ended December 31, 2025 and 2024.

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| **Operating Expense** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** |
| General and administrative | $2460062 | $2072830 |
| Payroll expenses | $5490171 | $4780729 |
| Professional fees | $535558 | $206705 |
| Advertising and marketing | $153324 | $103373 |
| Rent and lease | $1807635 | $1539868 |
| Depreciation and amortization | $85156 | $104378 |
| Total operating expenses | $10531906 | $8807883 |

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Total operating expenses increased by $1,724,023, or approximately 19.6%, from $8,807,883 in 2024 to $10,531,906 in 2025. The increase outpaced revenue growth, resulting in a swing from operating income of $296,269 in 2024 to an operating loss of $(186,808) in 2025. The primary drivers of the increase in operating expenses were as follows:

*Payroll Expenses.* Payroll expenses increased by $709,442, or approximately 14.8%, from $4,780,729 in 2024 to $5,490,171 in 2025. The increase reflects continued headcount investment to support revenue growth, expanded service capabilities, and operational infrastructure needs associated with the METech business combination.

*General and Administrative.* General and administrative expenses increased by $387,232, or approximately 18.7%, from $2,072,830 in 2024 to $2,460,062 in 2025. The increase reflects higher operating costs associated with the growth of the business and incremental administrative costs associated with becoming a reporting public company following the April 2025 business combination.

*Professional Fees.* Professional fees increased by $328,853, or approximately 159.1%, from $206,705 in 2024 to $535,558 in 2025. The significant increase is attributable primarily to legal, accounting, audit, and advisory fees incurred in connection with the reverse acquisition transaction completed in April 2025, public company compliance costs, and ongoing SEC reporting requirements.

*Rent and Lease Expense.* Rent and lease expense increased by $267,767, or approximately 17.4%, from $1,539,868 in 2024 to $1,807,635 in 2025, consistent with expansion of our facility footprint and inflationary adjustments in facility lease costs across our operational locations. As of December 31, 2025, the Company had total future minimum lease obligations of $2,727,953 with a present value of $2,330,987, using a weighted average discount rate of 4.4% and a weighted average remaining term of approximately 39 months.

*Depreciation and Amortization.* Depreciation and amortization decreased by $19,222, or approximately 18.4%, from $104,378 in 2024 to $85,156 in 2025, reflecting the continued reduction in net book value of our existing asset base, partially offset by additions of property and equipment.

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<u>Other Income and Expense</u>

Total other income (expense) resulted in net other income of $189,573 for the year ended December 31, 2025, compared to net other expense of $(85,157) in 2024, a positive variance of $274,730. The improvement was attributable to the following:

*Employee Retention Credit.* During the year ended December 31, 2025, the Company received an Employee Retention Credit ("ERC") totaling $346,000, which is reflected in other income. This represents a significant non-recurring item that contributed materially to other income in the current year. No comparable amount was received in 2024.

*Interest Expense.* Interest expense increased by $67,064, or approximately 68.6%, from $97,703 in 2024 to $164,767 in 2025. The increase reflects higher outstanding debt balances during 2025, including new notes payable issued in 2025, some of which carry elevated interest rates (see Note 5 to the consolidated financial statements). Cash paid for interest was $198,038 in 2025 compared to $143,841 in 2024.

<u>Net Income</u>

Net income for the year ended December 31, 2025, was $2,765, compared to net income of $211,112 for the year ended December 31, 2024. The significant decrease in net income is primarily attributable to the increase in operating expenses, particularly payroll, professional fees, and general and administrative costs, which exceeded the growth in gross profit. Net income in 2025 was supported materially by the $346,000 Employee Retention Credit received during the year; absent this non-recurring item, the Company would have recorded a net loss. Basic and diluted earnings per share were $0.00 in both 2025 and 2024, based on weighted average shares outstanding of 87,964,090 in each period.

**Liquidity and Capital Resources**

"Liquidity" refers to our ability to generate adequate amounts of cash to meet our needs for cash. We believe we will have adequate liquidity to maintain current operations during 2026, but we may choose to locate additional sources of cash to facilitate growth and expansion. "Capital resources" refers to assets we use in our business to produce goods or deliver services, such as machinery, buildings, tools, and technology. Capital resources have a long-term, multi-use lifespan. These assets enhance our production efficiency, increase profitability, and are crucial for generating income and sustainable growth.

As of December 31, 2025, the Company had cash of $276,855 compared to $470,273 as of December 31, 2024. The Company's principal sources of liquidity have consisted of cash generated from operations and proceeds from debt financing. The following table summarizes our cash flows for the years ended December 31, 2025 and 2024.

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| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**December 31,**<br>**2025** | **Year Ended**<br>**December 31,**<br>**2024** |
| Net cash provided by operating activities | $79517 | $458921 |
| Net cash used in investing activities | $(2729) | $(106291) |
| Net cash used in financing activities | $(270206) | $(38722) |
| Net decrease in cash | $(193418) | $313908 |
| Cash — beginning of year | $470273 | $156365 |
| Cash — end of year | $276855 | $470273 |

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

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<u>Operating Activities</u>

Cash provided by operating activities was $79,517 for the year ended December 31, 2025, compared to $458,921 in 2024, a decrease of $379,404. Despite net income of only $2,765, cash from operations was positive due to non-cash add-backs of $234,837 in bad debt expense and $85,156 in depreciation. However, significant working capital headwinds offset these items: accounts receivable increased by $707,203 (reflecting business growth and timing of collections), and accounts payable declined by $584,364. These outflows were substantially offset by a $1,107,042 increase in accrued expenses, reflecting the timing of vendor payments. Financed insurance policy payments of $196,375 also reduced operating cash flows during the year.

<u>Investing Activities</u>

Cash used in investing activities was $2,729 in 2025 compared to $106,291 in 2024. Capital expenditures were minimal in 2025, reflecting a deliberate reduction in new equipment purchases. The Company financed $193,252 of property and equipment through non-cash financing arrangements in 2025, compared to $61,880 in 2024. Additionally, the Company recognized $754,886 of new right-of-use assets and corresponding lease liabilities during 2025 in connection with new and renewed operating lease agreements.

<u>Financing Activities</u>

Cash used in financing activities was $270,206 in 2025, compared to $38,722 in 2024. During 2025, the Company received proceeds from notes payable of $200,000. Repayments of notes payable totaled $470,206 during 2025, compared to $38,722 in 2024. The higher repayment activity reflects payoff and reduction of certain legacy notes and financed insurance balances. Additionally, during the year ended December 31, 2025, accounts payable to a related party totaling $500,000 were settled through the issuance of a note payable, representing a significant non-cash financing activity.

<u>Debt</u>

As of December 31, 2025, the Company had total notes payable of $2,051,993, of which approximately $1,093,031 was classified as current and $958,962 as long-term. This compares to total notes payable of $1,591,815 as of December 31, 2024, of which $1,063,218 was current and $528,597 was long-term. Interest rates on outstanding notes range from approximately 2.07% to 29.93%, reflecting a mix of equipment financing, SBA loans, and other borrowings. The Company also has outstanding loans from Jian Li, an officer, totaling $228,933 at both December 31, 2025 and 2024; these loans bear no stated interest rate and are due on demand.

The current classification of notes payable is important to understand in context. As disclosed in Note 5 to the consolidated financial statements, notes payable without a stated maturity date are classified as current in accordance with GAAP. Approximately $1,225,704 of the $1,617,418 reflected in the 2026 column of the future maturities table below consists of notes with no stated maturity date, the substantial majority of which are owed to the Company's two largest related-party shareholders — First American Management Group Corp. (~$519,000) and First America Metal Corp. (per Note 8) — and have been outstanding since 2019 through 2022 with no history of demand for repayment. Accordingly, the current classification of this debt reflects a GAAP presentation requirement rather than an expectation of near-term cash outflow. Notes with actual stated maturity dates falling in 2026 total approximately $78,512.

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| 13 |
| *[**Table of Contents**](#TOC)* |

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Future debt maturities as of December 31, 2025, are as follows (excluding officer loans):

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| | |
|:---|:---|
| **Year Ending December 31,** | **Principal Amount** |
| 2026 (including $1,225,704 of notes with no stated maturity date) | $1617418 |
| 2027 | $98950 |
| 2028 | $87797 |
| 2029 | $42928 |
| 2030 | $16500 |
| Thereafter | $417333 |
| Total | $2280926 |

---

The Company has not defaulted on any of its outstanding notes payable.

**Related Party Transactions**

The Company has entered into significant transactions with related parties, the most significant of which are summarized below. For additional detail, see Note 8 to the consolidated financial statements.

*First American Management Group Corp (FAMGC).* FAMGC is the Company's largest shareholder and is also a noteholder. At December 31, 2025, outstanding notes payable to FAMGC totaled $519,000, compared to $556,000 at December 31, 2024.

*First America Metal Corp (FAMC).* FAMC is the Company's second largest shareholder and also serves as both a significant customer and primary vendor. FAMC represented approximately 15% of revenues in 2025 and 51% of accounts payable as of December 31, 2025. At December 31, 2025, outstanding notes payable to FAMC totaled $707,000 (2024: $157,000), accounts payable to FAMC totaled $1,159,571 (2024: $2,302,980), and accounts receivable from FAMC totaled $318,273 (2024: $466,449). The substantial reduction in accounts payable to FAMC from $2,302,980 to $1,159,571 reflects partial settlement of amounts owed, including the $500,000 non-cash conversion of accounts payable to a note payable during 2025.

*Officer Loans.* Jian Li, an officer of the Company, has advanced funds to the Company from time to time. These loans bear no stated interest rate and are due on demand. The outstanding balance was $228,933 at both December 31, 2025 and 2024.

These related party relationships represent a significant aspect of the Company's operations and capital structure. The concentration of purchasing activity with a single vendor (FAMC representing 51% of accounts payable) and revenue concentration with related customers presents potential risks that management monitors on an ongoing basis.

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| 14 |
| *[**Table of Contents**](#TOC)* |

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**Critical Accounting Policies and Estimates** 

The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results could differ materially from those estimates. The following accounting policies are considered most significant to an understanding of the Company's financial condition and results of operations.

*Revenue Recognition.* The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. Revenue is primarily derived from electronic equipment recycling, asset disposition, and data destruction services. Performance obligations for each service type are typically satisfied at a point in time, and revenue is recognized upon satisfaction of the relevant performance obligation.

*Accounts Receivable and Allowance for Doubtful Accounts.* The Company records an allowance for doubtful accounts based on an analysis of historical collection experience, customer creditworthiness, and current economic trends. During 2025, the Company recorded bad debt expense of $235,000 (2024: $110,000) and maintained an allowance for doubtful accounts of $154,000 at December 31, 2025 (2024: $110,000). Total net accounts receivable were $2,459,493 at December 31, 2025, including $318,273 due from First America Metal Corp., a related party. The increase in bad debt expense reflects higher gross receivable balances and management's assessment of collection risk.

*Leases.* The Company accounts for leases under ASC 842 using the right-of-use model, recognizing a lease liability and corresponding ROU asset on each lease commencement date. Lease liabilities are measured at the present value of remaining lease payments using the Company's incremental borrowing rate, as the rate implicit in the leases is not readily determinable. The weighted average discount rate applied was 4.4% with a weighted average remaining term of approximately 39 months.

*Income Taxes.* The Company recognizes deferred tax assets and liabilities under ASC 740 based on temporary and permanent differences between financial reporting and tax bases of assets and liabilities. A full valuation allowance has been recorded against deferred tax assets because management has determined it is more likely than not that such assets will not be realized, given the Company's history of minimal taxable income. As of December 31, 2025, the Company had approximately $8,156,000 in federal net operating loss carryforwards, with a corresponding deferred tax asset of approximately $609,000, fully offset by a valuation allowance. Future utilization of these carryforwards may be subject to annual limitations pursuant to Section 382 of the Internal Revenue Code as a result of ownership changes that may have occurred or may occur in the future.

*Goodwill.* The Company carries goodwill of $750,000, which is evaluated for impairment at least annually during the fourth quarter. Impairment testing utilizes a discounted cash flow methodology to estimate reporting unit fair value. No impairment was recognized in 2025 or 2024.

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| 15 |
| *[**Table of Contents**](#TOC)* |

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**Inflation and Macroeconomic Conditions** 

The Company's operations are subject to general macroeconomic and inflationary pressures. During 2025, inflationary conditions continued to affect operating costs, particularly with respect to payroll, logistics, and facility lease costs. Management believes revenue growth has partially offset these cost pressures, though gross margin compression of approximately 110 basis points in 2025 relative to 2024 reflects the net impact of these dynamics. The Company will continue to monitor macroeconomic conditions and adjust its pricing and cost management strategies as appropriate.

**Recently Issued Accounting Pronouncements** 

In December 2023, the FASB issued ASU 2023-09, Income Taxes, which enhances transparency of income tax disclosures. The amendments are effective for fiscal years beginning after December 15, 2024. The Company adopted this guidance in 2025; adoption did not have a material impact on the Company's financial statement disclosures.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting, which improves segment expense disclosures. The Company operates as a single operating segment. The standard was effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Adoption did not have a material impact on the Company's financial statement disclosures.

**Off-Balance Sheet Arrangements**

As of December 31, 2025, the Company had no off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on its financial condition, revenues, expenses, results of operations, liquidity, capital expenditures, or capital resources.

**Item 7A. Quantitative and Qualitative Disclosures about Market Risk**

Not required.

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| 16 |
| *[**Table of Contents**](#TOC)* |

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**Item 8. Financial Statements**

**First America Resources Corporation**

**Audited Consolidated Financial Statements**

**As of December 31, 2025 and 2024, and for the Years then Ended**

**Table of Contents**

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| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#REPORT) | F-1 |
| [Balance Sheets](#BS) | F-2 |
| [Statements of Operations](#OP) | F-3 |
| [Statements of Changes in Stockholders' Deficit](#EQ) | F-4 |
| [Statements of Cash Flows](#CF) | F-5 |
| [Notes to Financial Statements](#notes) | F-6 |

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| 17 |
| *[**Table of Contents**](#TOC)* |

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![fstj_10kimg4.jpg](fstj_10kimg4.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Board of Directors and Stockholders

First America Resource Corporation

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of First America Resource Corporation (the "Company") as of December 31, 2025 and 2024, and the related consolidated statement of operations, stockholders' deficit, and cash flows for the years in the period ended December 31, 2025 and 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flow for the two year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Critical Audit Matters**

A critical audit matter is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the Company's governance and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

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| |
|:---|
| ![fstj_10kimg3.jpg](fstj_10kimg3.jpg) |
| We have served as the Company's auditor since 2022. |
| Houston, Texas |
| **March 31, 2026**<br>**PCAOB ID: 6771** |

---

![fstj_10kimg2.jpg](fstj_10kimg2.jpg)

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|:---|
| F-1 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2025 AND 2024**

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| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| **Assets** | **Assets** | **Assets** |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash | $276855 | $470273 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 2141220 | 1520678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, related party, First America Metal Corp. | 318273 | 466449 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 37439 | 230460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 2773787 | 2687860 |
| Long term assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | 372508 | 261683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Right of use assets | 2254214 | 2733047 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 750000 | 750000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 513630 | 451882 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total long term assets | 3890352 | 4196612 |
| Total assets | $6664139 | $6884472 |
| **Liabilities and Stockholders' Deficit** | **Liabilities and Stockholders' Deficit** | **Liabilities and Stockholders' Deficit** |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $1100608 | $1041563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, related party, First America Metal Corp. | 1159571 | 2302980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 1358912 | 252940 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 21062 | 54333 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liability, current portion | 851191 | 1188863 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financed insurance policy |  | 195302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans from officer | 228933 | 228933 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes payable, current portion | 1093031 | 1063218 |
| Total current liabilities | 5813308 | 6328132 |
| Lease liability, net of current portion | 1479796 | 1618435 |
| Notes payable, net of current portion | 958962 | 528597 |
| Total liabilities | 8252066 | 8475164 |
| Commitments and contingencies (Note 3) |  |  |
| Stockholders' deficit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock $0.001 par value; 500,000,000 authorized; 87,964,090 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 87964 | 87964 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 1535266 | 1535266 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (3211157) | (3213922) |
| Total stockholders' deficit | (1587927) | (1590692) |
| Total liabilities and stockholders' deficit | $6664139 | $6884472 |

---

The accompanying footnotes are an integral part of these consolidated financial statements.

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

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| |
|:---|
| **FIRST AMERICA RESOURCES CORPORATION** |
| **CONSOLIDATED STATEMENTS OF OPERATIONS** |
| **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** |

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| | | |
|:---|:---|:---|
|  | **For the years ended** | **For the years ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Revenues | $18790946 | $16206752 |
| Cost of revenues | 8445848 | 7102600 |
| Gross profit | 10345098 | 9104152 |
| Operating expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 2460062 | 2072830 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll expenses | 5490171 | 4780729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional fees | 535558 | 206705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising and marketing | 153324 | 103373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rent and lease | 1807635 | 1539868 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 85156 | 104378 |
| Total operating expenses | 10531906 | 8807883 |
| Income (loss) from operations | (186808) | 296269 |
| Other income (expense) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (164767) | (97703) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income | 354340 | 12546 |
| Total other income (expense) | 189573 | (85157) |
| Net income | $2765 | $211112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income per share - basic and diluted | $0.00 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding - basic and diluted | 87964090 | 87964090 |
| The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. |

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** |
| **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** | **CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** |
| **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** |
|  | **Common Stock** | **Common Stock** | **Common Stock - METech** | **Common Stock - METech** | **Additional**<br>**Paid in**  | **Accumulated** |  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Capital** | **Deficit** | **Total** |
| Balances, December 31, 2023 - Pre reverse merger |  | $- | 100800 | $1008 | $1523992 | $(3425034) | $(1900034) |
| Effect of reverse merger | 87964090 | 87964 | (100800) | (1008) | (308650) |  | (221694) |
| Balances, December 31, 2023 - Post reverse merger | 87964090 | $87964 |  | $- | $1215342 | $(3425034) | $(2121728) |
| Pre-merger issuances of METech Recylcing, Inc. for settlement of notes payable |  |  |  |  | 319924 |  | 319924 |
| Net income |  |  |  |  |  | 211112 | 211112 |
| Balances, December 31, 2024 | 87964090 | $87964 |  | $- | $1535266 | $(3213922) | $(1590692) |
| Net income |  |  |  |  |  | 2765 | 2765 |
| Balances, December 31, 2025 | 87964090 | $87964 | - | $- | $1535266 | $(3211157) | $(1587927) |
| The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. |

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

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| | | |
|:---|:---|:---|
| **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** | **FIRST AMERICA RESOURCES CORPORATION** |
| **CONSOLIDATED STATEMENTS OF CASH FLOWS** | **CONSOLIDATED STATEMENTS OF CASH FLOWS** | **CONSOLIDATED STATEMENTS OF CASH FLOWS** |
| **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** | **FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024** |
|  | **For the years ended** | **For the years ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $2765 | $211112 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 85156 | 104378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense | 234837 | 110000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financed repair costs | 37132 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (707203) | (240596) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | (61748) | (9484) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 193021 | (18157) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (584364) | 193926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 1107042 | 96520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | (33271) | 8569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right of use assets and lease liabilities | 2525 | 5522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financed insurance policy | (196375) | (2869) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 79517 | 458921 |
| Investing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment | (2729) | (106291) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (2729) | (106291) |
| Financing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from notes payable | 200000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments of notes payable | (470206) | (38722) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (270206) | (38722) |
| Net increase (decrease) in cash | $(193418) | $313908 |
| Cash - beginning of year | 470273 | 156365 |
| Cash - end of year | $276855 | $470273 |
| Cash paid for income taxes | $- | $- |
| Cash paid for interest | $198038 | $143841 |
| Supplemental schedule of non-cash investing and financing activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable settled through the issuance of notes payable | $500000 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Financed property and equipment | $193252 | $61880 |
| &nbsp;&nbsp;&nbsp;&nbsp;Recognition of right of use assets and lease liabilities | $754886 | $1492040 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued for settlement of notes payable | $- | $319924 |
| The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. | The accompanying footnotes are an integral part of these consolidated financial statements. |

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

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**1. Nature of the Company and Business**

<u>METech Exchange Agreement</u>

On April 16, 2025, (METech Closing Date) First America Resources Corporation (FSTJ), a Nevada corporation, entered into a Common Stock Exchange Agreement dated as of such date (the Exchange Agreement) with the METech Recycling, Inc. (METech), a Delaware corporation, and all of the shareholders of METech. Pursuant to the Exchange Agreement, FSTJ acquired one hundred percent (100%) of the issued and outstanding shares of common stock of METech from the shareholders pursuant to which METech became a wholly owned subsidiary of FSTJ. In accordance with the terms of the Exchange Agreement, and in connection with the completion of the acquisition, on the METech Closing Date FSTJ issued 80,000,000 shares of its Common Stock to the METech Shareholders. This issuance has been presented retrospectively within these financial statements in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 805-40-45.

For financial statement reporting purposes, the asset acquisition has been treated as a reverse acquisition with METech deemed the accounting acquirer and FSTJ deemed the accounting acquiree under the acquisition method of accounting in accordance with ASC 805-10-55. The reverse acquisition is deemed a capital transaction and the net assets of METech (the accounting acquirer) are carried forward to FSTJ (the legal acquirer and the reporting entity) at their carrying value before the acquisition. The acquisition process utilizes the capital structure of FSTJ and the assets and liabilities of METech which are recorded at their historical cost. The equity of the Company is the historical equity of METech.

<u>Business</u>

METech specializes in electronic waste management and IT asset disposition (ITAD). The Company provides certified recycling services, secure data destruction, and IT asset management. With a focus on sustainability, the Company aims to maximize material recovery while ensuring the protection of proprietary technology and customer data. They operate multiple R2-certified facilities across the U.S., offering customized solutions for safe recycling, inventory management, and equipment disposal. The Company emphasizes eco-responsible practices and transparency.

**2. Summary of Significant Accounting Policies**

<u>Basis of Presentation</u>

The accompanying consolidated financial statements ("financial statements") have been prepared in conformity with generally accepted accounting principles in the United States of America (GAAP).

<u>Principles of Consolidation</u>

The consolidated financial statements include the accounts of FSTJ and its wholly owned subsidiary METech. All intercompany transactions and account balances between the Company and its subsidiary have been eliminated in consolidation.

<u>Use of Estimates</u>

The Company's financial statement preparation requires that management make estimates and assumptions which affect the reporting of assets and liabilities and the related disclosure of contingent assets and liabilities in order to report these financial statements in conformity with GAAP. Actual results could differ from those estimates.

<u>Segments</u>

The Company operates as a single segment.

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

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

<u>Cash</u>

Cash includes all highly liquid investments that are readily convertible to known amounts of cash and have original maturities at the date of purchase of three months or less.

The Company maintains its cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC provides coverage of up to $250,000 per depositor, per financial institution, for the aggregate total of depositors' interest and non-interest-bearing accounts. From time to time the Company's cash balance exceeded FDIC limits. The Company has not experienced any losses on these accounts and management does not believe that the Company is exposed to any significant risks.

<u>Accounts Receivable</u>

Accounts receivable consists of invoiced and unpaid sales. The Company records an allowance for doubtful accounts to allow for any amounts that may not be recoverable, which is based on an analysis of the Company's prior collection experience, customer credit worthiness, and current economic trends. Accounts are considered delinquent when payments have not been received within the agreed upon terms and are written off when management determines that collection is not probable. During the years ended December 31, 2025, and 2024, the Company recorded bad debt expenses totaling $235,000 and $110,000, respectively. As of December 31, 2025, and 2024, the Company had an allowance for doubtful accounts totaling $154,000 and $110,000, respectively.

<u>Deposits</u>

Deposits include security deposits and balances held by regulators for potential costs related to the Company's operations.

<u>Property and Equipment</u>

Property and equipment are stated at historical cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred.

<u>Impairment of Long-lived Assets</u>

The Company evaluates the recoverability of long-lived assets, excluding goodwill, whenever events or changes in circumstances indicate that the carrying value of such asset may not be recoverable. The Company groups and evaluates these long-lived assets for impairment at the lowest level at which individual cash flows can be identified. If indicators of impairment are present, the Company first compares the carrying amount of the asset group to the estimated future cash flows associated with the asset group. If the estimated future cash flows used in the analysis are less than the carrying amount of the asset group, an impairment loss calculation is prepared. The impairment loss calculation compares the carrying amount of the asset group to the asset group's estimated discounted future cash flows. If required, an impairment loss is recorded for the portion of the asset group's carrying value that exceeds the asset group's estimated discounted future cash flows.

The Company evaluates and tests the recoverability of its goodwill for impairment at least annually during its fourth quarter of each fiscal year or more often if and when circumstances indicate that goodwill may not be recoverable. When evaluating goodwill for potential impairment, the Company compares the fair value of its reporting units to their respective carrying amounts. The Company estimates the fair value of its reporting units using a discounted cash flow method. If the carrying amount of a reporting unit exceeds its estimated fair value, an impairment loss is recognized in an amount equal to that excess.

<u>Income Taxes</u>

The Company recognizes deferred tax assets and liabilities based on differences between the financial reporting and tax basis of assets and liabilities using the enacted tax rates and laws that are expected to be in effect when the differences are expected to be recovered. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. Management evaluates the probability of the realization of its deferred income tax assets. Management determined that because the Company has not yet generated taxable income, it is unlikely that a tax benefit will be realized from these operating loss carry forwards. Accordingly, the deferred income tax asset is offset by a full valuation allowance.

In accordance with ASC Topic 740, Income Taxes, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be capable of withstanding examination by the taxing authorities based on the technical merits of the position. These standards prescribe a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

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| F-7 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

<u>Revenue Recognition</u>

The Company recognizes revenue in accordance with ASC 606, *Revenue from Contracts with Customers*, by analyzing contracts with customers through a five-step process: identifying the contract with the customer, determining the performance obligations within the contract, establishing the transaction price, allocating that price to the identified performance obligations, and recognizing revenue when or as the performance obligations are satisfied. The Company's Revenue is primarily derived from services related to electronic equipment recycling, asset disposition, and data destruction.

*Electronic equipment recycling*

The Company's customers engage it to recycle old and unused electronic equipment. The performance obligation associated with this service is the receipt and disposal of the equipment by the Company. This performance obligation is typically met at a point in time and therefore the fees charged by the Company for these services are recognized as revenue at a point in time.

*Asset disposition*

The Company may be engaged to fully remove a client's equipment from its current location. The performance obligation for this service is based on when all equipment has been removed from the customer's location. This performance obligation is typically met at a point in time and therefore the fees charged by the Company for these services are recognized as revenue at a point in time.

*Data destruction*

The Company may be engaged to destroy data on its customers electronic devices as well as provide other destruction services to ensure that its customers' data is not compromised. This performance obligation is typically met at a point in time and therefore the fees charged by the Company for these services are recognized as revenue at a point in time.

<u>Financial Instruments</u>

The Company's financial instruments include cash and cash equivalents, receivables, payables, and debt and are accounted for under the provisions of ASC 825, *Financial Instruments*. The carrying amount of these financial instruments as reflected in the accompanying balance sheets approximates fair value.

<u>Advertising Expenses</u>

The Company accounts for its advertising and marketing expenses in accordance with ASC 720-35-50 and expenses all costs as incurred including direct expenses of advertisement placement as well as the cost of producing or creating the advertisement.

<u>Prepaid Expenses</u>

Prepaid expenses are current assets created when the Company makes payments or incurs an obligation for expenses identified for a future period. These amounts are charged to expense as the services are provided.

<u>Leases</u>

The Company uses the right-of-use (ROU) model to account for leases where the Company is the lessee, which requires an entity to recognize a lease liability and ROU asset on the lease commencement date. A lease liability is measured equal to the present value of the remaining lease payments over the lease term and is discounted using the incremental borrowing rate, as the rate implicit in the Company's leases is not readily determinable. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Lease payments include payments made before the commencement date and any residual value guarantees, if applicable. When determining the lease term, the Company includes option periods that it is reasonably certain to exercise as failure to renew the lease would impose a significant economic detriment.

For operating leases, minimum lease payments or receipts, including minimum scheduled rent increases, are recognized as rent expense where the Company is a lessee on a straight-line basis (Straight-Line Rent) over the applicable lease terms. The excess of the Straight-Line Rent over the minimum rents paid is included in the ROU asset where the Company is a lessee. Short-term lease cost for operating leases includes rental expense for leases with a term of less than 12 months.

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| F-8 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

<u>Earnings or (Loss) Per Share</u>

Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The Company had no potentially dilutive securities outstanding at December 31, 2025, and 2024.

<u>Recently Issued Accounting Pronouncements</u>

In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2023-09 (ASU 2023-09), Income Taxes, which enhances the transparency of income tax disclosures by expanding annual disclosure requirements related to the rate reconciliation and income taxes paid. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis. Retrospective application is permitted. Adoption did not have any impact on the Company's disclosures.

In November 2023, the FASB issued Accounting Standards Update 2023-07 (ASU 2023-07), Segment Reporting, which improves reportable segment disclosure requirements. ASU 2023-07 primarily enhances disclosures about significant segment expenses by requiring that a public entity disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of segment profit or loss. This ASU also (i) requires that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment, and a description of its composition; (ii) requires that all annual disclosures are provided in the interim periods; (iii) clarifies that if the CODM uses more than one measure of profitability in assessing segment performance and deciding how to allocate resources, that one or more of those measures may be reported; (iv) requires disclosure of the title and position of the CODM and a description of how the reported measures are used by the CODM in assessing segment performance and in deciding how to allocate resources; (v) requires that an entity with a single segment provide all new required disclosures. ASU 2023-07 was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and requires retrospective application. Early adoption is permitted. The amendments under ASU 2023-07 relate to financial disclosures and its adoption did not have an impact on the Company's results of operations, financial position or cash flows. Adoption did not have any impact on the Company's disclosures.

<u>Subsequent Events</u>

The Company has evaluated all transactions through the date the financial statements were issued for subsequent event disclosure or adjustment consideration.

**3. Commitments and Contingencies**

From time to time, the Company may be involved in litigation in the ordinary course of business. The Company is not currently involved in any litigation that the Company believes could have a material adverse effect on its financial condition or results of operations.

<u>Leases</u>

The Company has operating lease agreements in place for the use of facilities and equipment. Operating lease agreements are required to be recognized on the balance sheet as right of use assets and corresponding lease liabilities under ASC 842, Leases. The Company records rent expense associated with these leases on a straight-line basis in conjunction with the terms of the underlying leases.

The following table summarizes future lease payment obligations as of December 31, 2025, and their present value using a weighted average discount rate of 4.4% and weighted average remaining term of approximately 39 months.

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| | |
|:---|:---|
|  | **Amount** |
| 2026 | $1020249 |
| 2027 | 574102 |
| 2028 | 596516 |
| 2029 | 406265 |
| 2030 | 126771 |
| Thereafter | 4050 |
|  | 2727953 |
| Less imputed interest | 396966 |
| Present value | $2330987 |

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| F-9 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**4. Property and Equipment**

The following table summarizes the Company's property and equipment at December 31, 2025, and 2024.

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Machinery & equipment | $676640 | $994041 |
| Vehicles | 71981 | 113056 |
| Leasehold improvements | 183621 | 271095 |
| IT asset | 81321 | 81321 |
|  | 1013563 | 1459513 |
| Less accumulated depreciation | 641055 | 1197830 |
|  | $372508 | $261683 |

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**5. Debt**

<u>Financed Insurance Policies</u>

During the year ended December 31, 2024, the Company financed insurance policies totaling $264,462. At December 31, 2024, the balances of these financed insurance policies totaled $195,302.

<u>Notes Payable</u>

The following table details the Company's debt issuances and outstanding balances at December 31, 2025, and 2024.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Principal Balances** | **Principal Balances** | **Principal Balances** |
| <br>**Noteholder** | <br>**Issued** | <br>**Maturity** | <br>**Interest** | **Issuance** | **12/31/2025** | **12/31/2024** |
| Noteholder A | 3/7/2019 |  | 10.00% | $150000 | $150000 | $150000 |
| Noteholder A | 7/24/2019 |  |  | 200000 |  |  |
| Noteholder A | 8/29/2019 |  |  | 200000 |  |  |
| Noteholder A | 11/27/2019 |  |  | 50000 |  |  |
| Noteholder A | 12/18/2019 |  |  | 80000 | 41704 | 78757 |
| Noteholder A | 12/19/2019 |  |  | 52000 | 52000 | 52000 |
| Noteholder A | 12/23/2019 |  |  | 45000 | 45000 | 45000 |
| Noteholder A | 1/8/2020 |  |  | 70000 | 70000 | 70000 |
| Noteholder A | 7/14/2020 |  | 10.00% | 100000 | 100000 | 100000 |
| Noteholder A | 1/26/2022 |  | 10.00% | 60000 | 60000 | 60000 |
| Noteholder B | 4/30/2020 |  |  | 80000 | 80000 | 80000 |
| Noteholder B | 11/10/2020 |  |  | 32000 | 32000 | 32000 |
| Noteholder B | 11/18/2020 |  |  | 45000 | 45000 | 45000 |
| Noteholder B | 6/9/2025 |  | 7.50% | 500000 | 500000 |  |
| Noteholder B | 11/23/2025 |  | 6.75% | 50000 | 50000 |  |
| Noteholder C | 3/1/2019 |  |  | 100000 |  | 100000 |
| Noteholder C | 3/8/2019 |  | 10.00% | 150000 |  | 150000 |
| Noteholder D | 5/30/2020 | 5/30/2050 | 3.75% | 500000 | 500000 | 500000 |
| Noteholder F | 2/8/2022 |  | 10.00% | 68174 |  | 68174 |
| Noteholder G | 2/27/2025 | 8/30/2026 | 17.00% | 150000 | 71402 |  |
| Noteholder H | 7/1/20 22 | 6/30/2025 | 3.16% | 17206 |  | 3339 |
| Noteholder H | 1/18/2024 | 1/18/2029 | 2.15% | 21880 | 14812 | 18678 |
| Noteholder H | 9/24/2024 | 9/24/2029 | 2.07% | 40499 | 31711 | 38867 |
| Noteholder H | 6/17/2025 | 6/17/2029 | 6.00% | 114121 | 101993 |  |
| Noteholder H | 8/1/2025 | 8/1/2028 | 10.01% | 76502 | 69188 |  |
| Noteholder H | 9/22/2025 | 9/22/2026 | 29.93% | 9128 | 7110 |  |
| Noteholder H | 9/29/2025 | 10/15/2030 | 13.29% | 18116 | 17551 |  |
| Noteholder H | 11/22/2025 | 11/22/2028 | 17.45% | 12549 | 12522 | - |
|  |  |  |  |  | $2051993 | $1591815 |

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Notes payable without a stated maturity date detailed in the table above have no stated maturity date and are included in the current portion of notes payable. The Company has not defaulted on any notes payable.

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| F-10 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

<u>Loans from Officer</u>

From time to time, Jian Li, Officer, has advanced the Company funds. These loans have no stated maturity date or interest rate and are due on demand. As of December 31, 2025 and 2024, the balance due to Jian Li totaled $228,933, respectively.

<u>Future Maturities</u>

The following table details the future maturities of the Company's debt as of December 31, 2025.

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| | |
|:---|:---|
| **December 31,** | **Amount** |
| 2026 | $1617418 |
| 2027 | 98950 |
| 2028 | 87797 |
| 2029 | 42928 |
| 2030 | 16500 |
| Thereafter | 417333 |
|  | $2280926 |

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**6. Equity**

The total number of shares of common stock authorized and issuable by the Company is 500,000,000 with a par value of $0.001 per share.

**7. Concentrations**

The following table details the Company's revenue concentrations for the years ended December 31, 2025, and 2024, and the accounts receivable concentrations at December 31, 2025, and 2024.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Revenues** | **Revenues** | **Accounts Receivable** | **Accounts Receivable** |
|  | **2025** | **2024** | **2025** | **2024** |
| Customer A | 15% | 20% | 12% | 22% |
| Customer B | 13% | 13% | \* | \* |
| Customer C | 12% | 11% | 19% | 22% |
| Customer D | \* | \* | 12% | 14% |
| Customer E | \* | \* | 14% | \* |

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The following table details the Company's accounts payable concentrations at December 31, 2025, and 2024.

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| | | |
|:---|:---|:---|
|  | **Accounts Payable** | **Accounts Payable** |
|  | **2025** | **2024** |
| Vendor A | 51% | 69% |

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**8. Related Party Transactions**

Noteholder A (Note 5) is the Company's largest shareholder, First American Management Group Corp (FAMGC). At December 31, 2025, and 2024, outstanding notes payable due to FAMGC totaled $519,000 and $556,000, respectively.

Noteholder B (Note 5), Customer A (Note 7), and Vendor A (Note 7) is the Company's second largest shareholder, First America Metal Corp (FAMC). At December 31, 2025, and 2024, outstanding notes payable due to FAMC totaled $707,000 and $157,000, respectively. At December 31, 2025, and 2024, accounts payable due to FAMC totaled $1,160,000 and $2,303,000, respectively, and accounts receivable due from FAMC totaled $318,000 and $466,000, respectively.

At December 31, 2025 and 2024, outstanding notes payable due to the former owner of METech, totaled $-0- and $250,000, respectively.

At December 31, 2025 and 2024, outstanding loans due to Jian Li, totaled $228,933, respectively, as further described in Note 5.

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| F-11 |
| *[**Table of Contents**](#TOC)* |

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**FIRST AMERICA RESOURCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**9. Employee Retention Credit**

During the year ended December 31, 2025, the Company received an Employee Retention Credit totaling $346,000 that is reflected in other income on the accompanying consolidated statements of operations.

**10. Income Taxes**

The Company accounts for income taxes under ASC 740-10, which provides for an asset and liability approach of accounting for income taxes. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences, using currently enacted tax laws, attributed to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts that are calculated for income tax purposes. The provision (benefit) for income taxes for the years ended December 31, 2025, and 2024, assumes a statutory 21% effective tax rate for federal income taxes.

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Federal tax statutory rate | 21% | 21% |
| Temporary differences | 0% | 0% |
| Permanent differences | 0% | 0% |
| Valuation Allowance | -21% | -21% |
|  | 0% | 0% |

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The Company had deferred income tax assets as of December 31, 2025, and 2024, as follows:

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Deferred Tax Assets |  |  |
| &nbsp;&nbsp;&nbsp;Net operating loss carryforwards | $609000 | $610000 |
| &nbsp;&nbsp;&nbsp;Temporary differences |  |  |
| &nbsp;&nbsp;&nbsp;Permanent differences |  |  |
| &nbsp;&nbsp;&nbsp;Valuation allowance | (609000) | (610000) |
| Net deferred tax assets | $- | $- |

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The Company provides for a valuation allowance when it is more likely than not that it will not realize a portion of the deferred tax assets. The Company has established a valuation allowance against the net deferred tax asset due to the uncertainty that enough taxable income will be generated in those taxing jurisdictions to utilize the assets. Therefore, the Company has not reflected any benefit of such deferred tax assets in the accompanying financial statements. The Company's net deferred tax asset and valuation allowance decreased by $1,000 and $44,000 in the fiscal years ending December 31, 2025, and 2024, respectively.

At December 31, 2025, the Company had approximately $8,156,000 in federal net operating loss carryforwards. Pursuant to Internal Revenue Code Section 382, the future utilization of the Company's net operating loss carryforwards to offset future taxable income may be subject to an annual limitation as a result of ownership changes that may have occurred previously or that could occur in the future.

As of December 31, 2025, the Company had no uncertain tax positions, or interest and penalties, that qualify for either recognition or disclosure in the financial statements. The Company is subject to U.S. federal, state, and local income tax examinations by tax authorities. The tax return for the fiscal year ended December 31, 2025, has not yet been filed.

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| F-12 |
| *[**Table of Contents**](#TOC)* |

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**Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosures**

None

**Item 9A. Controls and Procedures**

<u>Evaluation of Disclosure Controls and Procedures</u>

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us, in the reports that we file or submit to the SEC under the Exchange Act, is recorded, processed, summarized, and reported within the periods specified by the SEC's rules and forms, and that information is accumulated and communicated to our management, including our principal executive and principal financial officer (whom we refer to in this periodic report as our Certifying Officer), as appropriate to allow timely decisions regarding required disclosure. Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our management evaluated, with the participation of our Certifying Officer, the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of December 31, 2025, pursuant to Rule 13a-15(b) under the Exchange Act. Based upon that evaluation, our Certifying Officer concluded that, as of December 31, 2025, our disclosure controls and procedures were not effective to provide reasonable assurance because certain deficiencies involving internal controls constituted material weaknesses, as discussed below. The material weaknesses identified did not result in the restatement of any previously reported financial statements or any other related financial disclosure, and management does not believe that the material weaknesses had any effect on the accuracy of our financial statements for the current reporting period.

<u>Limitations on Effectiveness of Controls</u>

A system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the system will meet its objectives. The design of a control system is based, in part, upon the benefits of the control system relative to its costs. Control systems can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control. In addition, over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Also, the design of any control system is based in part upon assumptions about the likelihood of future events.

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

There were no changes in our internal control over financial reporting that occurred during the fiscal year ended December 31, 2025, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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| 18 |
| *[**Table of Contents**](#TOC)* |

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<u>Management's Annual Report on Internal Control Over Financial Reporting</u>

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Exchange Act. We have assessed the effectiveness of those internal controls as of December 31, 2025, using the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") Internal Control—Integrated Framework (2013) as a basis for our assessment.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance respecting financial statement preparation and presentation. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.

A material weakness in internal controls is a deficiency in internal control, or combination of control deficiencies, that adversely affects our ability to initiate, authorize, record, process, or report external financial data reliably in accordance with accounting principles generally accepted in the United States of America such that there is more than a remote likelihood that a material misstatement of our annual or interim financial statements that is more than inconsequential will not be prevented or detected.

Based on our evaluation of internal control over financial reporting, our management concluded that our internal control over financial reporting was not effective as of December 31, 2025 as a result of the following material weaknesses identified by management:

*Control Environment* - We did not maintain an effective control environment for internal control over financial reporting.

*Segregation of Duties* - As a result of limited resources and staff, we did not maintain proper segregation of incompatible duties. The effect of the lack of segregation of duties potentially affects multiple processes and procedures.

These weaknesses are continuing. Management and the board of directors are aware of these weaknesses that result because of limited resources and staff. Management has begun the process of formally documenting our key processes as a starting point for improved internal control over financial reporting. Efforts to fully implement the processes we have designed have been renewed.

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by our registered public accounting firm pursuant to rules of the SEC that permit us to provide only management's report in this annual report.

**Item 9B. Other Information**

None.

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| 19 |
| *[**Table of Contents**](#TOC)* |

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**PART III**

**Item 10. Directors, Executive Officers and Corporate Governance**

**Directors and Officers**

The board of directors elects our executive officers annually. A majority vote of the directors who are in office is required to fill vacancies. Each director shall be elected for the term of one year, and until his successor is elected and qualified, or until his earlier resignation or removal. Our director and executive officer at December 31, 2025 is as follows:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Jian Li | 64 | Chairman, CEO and CFO |

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<u>Director Independence</u>

Our board of directors has determined that we do not have a board member that qualifies as "independent" as the term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(15) of the NASDAQ Marketplace Rules.

Information concerning Mr. Jian Li is as follows: Mr. Li has been Chairman, CEO and CFO of our Company since February 6, 2013. From February 2002 to date he has been President/Owner of FAMCe (formerly known as First America Metal Corporation), a company in the Recycling Industry. He has a B.S. – Engineering in 1982 from Zhejiang Industrial University, China. As a member of the board, Mr. Li contributes significant industry-specific experience and expertise on our products and services as well as significant management experience. He has had experience in the recycling business for more than 20 years.

Significant Employees

Roy ("Rex") Cheng, age 50, has served as President of METech Recycling since 2006. He joined the company as Operations Manager in January 2006 and has held key roles including General Manager of the Gilroy facility, Vice President of Operations, and Chief Operating Officer. He played a key role during METech Recycling listing on the Singapore Stock Exchange (2016 to 2019). Mr. Cheng earned a Bachelor of Business degree (2002) from the University of Tasmania, Australia.

Robert Laughlin, age 54, has served as Vice President of Business Development at METech Recycling since February 2016. He has been engaged in technology sales, business development, and telecommunications for over thirty years, including more than fourteen years in the electronics recycling and IT asset disposition (ITAD) industry. He entered the e-waste industry during his tenure at Broadband Integrated Resources, later acquired by Avnet, where he served as Vice President of Sales and Senior Business Development Manager (years).

**Table of Contents**

Nicole Palacio, age 45, has served as Assistant Director of Operations at METech Recycling since 2023. She has over twenty-six years of experience in the e-waste industry, with a background in operations management and customer service. Ms. Palacio was employed for sixteen years in the IT Asset Management Services division of ECS Refining, Inc. (no longer operating), where she managed contracts and customer accounts. Her experience in operations and client relations contributes valuable expertise to our leadership team.

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<u>Code of Ethics</u>

We do not currently have a Code of Ethics applicable to our principal executive, financial or accounting officer.

<u>Section 16(a) Beneficial Ownership Reporting Compliance</u>

We are not subject to the requirements of Section 16(a) of the Securities Exchange Act of 1934, as amended.

**Item 11. Executive Compensation**

**Summary Compensation Table**

The table below summarizes all compensation awarded to, earned by, or paid to our Principal Executive Officer, our two most highly compensated executive officers other than our CEO who occupied such position at the end of our latest fiscal year and up to two additional executive officers who would have been included in the table below except for the fact that they were not executive officers at the end of our latest fiscal year, by us, or by any third party where the purpose of a transaction was to furnish compensation, for all services rendered in all capacities to us for the latest two fiscal years ended December 31, 2025 and 2024.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and**<br>**principal position** | **Year** | **Salary** | **Bonus** | **Stock**<br>**Awards** | **Option**<br>**awards** | **Nonequity**<br>**incentive**<br>**plan**<br>**compensation** | **Nonqualified**<br>**deferred**<br>**compensation**<br>**earnings** | **All other**<br>**compensation** | **Total** |
|  |  | **$** | **$** | **$** | **$** | **$** | **$** | **$** | **$** |
| Jian Li | 2025 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CEO/CFO | 2024 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

---

We have not paid any compensation to our executive officer and we have no agreements or understandings, written or oral, to pay him compensation. We do not pay compensation to our sole director apart from his compensation as an executive officer.

We do not have any outstanding equity awards at December 31, 2025.

<u>Long-Term Incentive Plans</u>

We do not have any arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. We do not have any material bonus or profit sharing plans.

We do not have any compensatory plans or arrangements.

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**Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters**

The following tables set forth the ownership, as of the date of this prospectus, of our common stock by each person known by us to be the beneficial owner of more than 5% of our outstanding common stock, our directors, and our executive officers and directors as a group. To the best of our knowledge, the person named has sole voting and investment power with respect to such shares, except as otherwise noted. There are not any pending or anticipated arrangements that may cause a change in control.

The business address of the shareholder is 1000 East Armstrong Street, Morris, IL 60450.

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| | | |
|:---|:---|:---|
| **Name** | **Number of**<br>**Shares of**<br>**Common stock** | **Percentage** |
| Jian Li\* | 86388010 | 98.208% |
| All executive officers and directors as a group | 86388010 | 98.208% |

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\*includes 6,388,010 shares directly owned by Mr. Li, 29,056,000 shares owned by First America Metal Corp. and 50,944,000 shares owned by First America Management Group Corp. Both corporations are entirely owned by Mr. Li.

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**Item 13. Certain Relationships and Related Transactions, and Director Independence**

**<u>Loans from Officer/Shareholder</u>**

From time to time, Jian Li, Officer, has advanced the Company funds. These loans have no stated maturity date or interest rate and are due on demand. As of December 31, 2025 and 2024, the balance due to Jian Li totaled $228,933, respectively.

At December 31, 2025, and 2024, outstanding notes payable due to First America Management Group Corp., the Company's largest shareholder, totaled $519,000 and $556,000, respectively.

At December 31, 2025, and 2024, outstanding notes payable due to First America Metal Corp, the Company's second largest shareholder, totaled $707,000 and $157,000, respectively.

**Item 14. Principal Accountant Fees and Services**

Victor Mokuolu, CPA PLLC was our independent auditor for the fiscal years ended December 31, 2025 and 2024. The following table shows the fees paid or accrued by us for the audit and other services provided for fiscal 2025 and 2024.

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| | | |
|:---|:---|:---|
|  | **2025** | **2024** |
| Audit Fees | $81500 | $14500 |
| Audit-Related Fees |  |  |
| Tax Fees |  |  |
| All Other Fees | - | - |
| Total | $81500 | $14500 |

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As defined by the SEC, (i) "audit fees" are fees for professional services rendered by our principal accountant for the audit of our annual financial statements and review of financial statements included in our Form 10-Q and 10-K, or for services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years; (ii) "audit-related fees" are fees for assurance and related services by our principal accountant that are reasonably related to the performance of the audit or review of our financial statements and are not reported under "audit fees;" (iii) "tax fees" are fees for professional services rendered by our principal accountant for tax compliance, tax advice, and tax planning; and (iv) "all other fees" are fees for products and services provided by our principal accountant, other than the services reported under "audit fees," "audit-related fees," and "tax fees."

Under applicable SEC rules, the Audit Committee is required to pre-approve the audit and non-audit services performed by the independent auditors in order to ensure that they do not impair the auditors' independence. The SEC's rules specify the types of non-audit services that an independent auditor may not provide to its audit client and establish the Audit Committee's responsibility for administration of the engagement of the independent auditors. Until such time as we have an Audit Committee in place, the Board of Directors will pre-approve the audit and non-audit services performed by the independent auditors.

Consistent with the SEC's rules, the Audit Committee Charter requires that the Audit Committee review and pre-approve all audit services and permitted non-audit services provided by the independent auditors to us or any of our subsidiaries. The Audit Committee may delegate pre-approval authority to a member of the Audit Committee and if it does, the decisions of that member must be presented to the full Audit Committee at its next scheduled meeting.

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**Item 15. Exhibits**

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| | |
|:---|:---|
| **Exhibit No.** | **Document Description** |
| [31.1](fstj_ex311.htm) | [CERTIFICATION of CEO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.](fstj_ex311.htm) |
| [32.1 \*](fstj_ex321.htm) | [CERTIFICATION of CEO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.](fstj_ex321.htm) |

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| | |
|:---|:---|
| 101.INS | Inline XBRL Instance Document\*\* |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document\*\* |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document\*\* |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document\*\* |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document\*\* |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document\*\* |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |

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___________________

\* This exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.

\*\* XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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| 24 |
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**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**First America Resources Corporation,**

a Nevada corporation

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| | | | |
|:---|:---|:---|:---|
| **Title** | **Name** | **Date** | **Signature** |
| Principal Executive Officer | Jian Li | March 31, 2026 | */s/ Jian Li* |

---

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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| | | | |
|:---|:---|:---|:---|
| **SIGNATURE** | **NAME** | **TITLE** | **DATE** |
| */s/ Jian Li* | Jian Li | Principal Executive Officer, | March 31, 2026 |
|  |  | Principal Financial Officer and<br>Principal Accounting Officer and<br>Director |  |

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| 25 |
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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Document Description** |
| [31.1](fstj_ex311.htm) | [CERTIFICATION of CEO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.](fstj_ex311.htm) |
| [32.1 \*](fstj_ex321.htm) | [CERTIFICATION of CEO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.](fstj_ex321.htm) |

---

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| | |
|:---|:---|
| Exhibit 101  | Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Balance Sheets, (ii) the Statements of Operations, (iii) the Statements of Cash Flows, and (iv) the Notes to the Financial Statements.\*\* |
| 101.INS | Inline XBRL Instance Document\*\* |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document\*\* |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document\*\* |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document\*\* |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document\*\* |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document\*\* |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |

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___________________

\* This exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.

\*\* XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

26<br>

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Jian Li, certify that:

1. I have reviewed this report on Form 10-K of First America Resources Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a 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 controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us 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 our 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 our 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; and

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 our 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 function):

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.

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| | | |
|:---|:---|:---|
|  | **First America Resources Corporation** | **First America Resources Corporation** |
| Dated: March 31, 2026 | By: | */s/ Jian Li* |
|  |  | Jian Li |
|  |  | Chief Executive Officer and 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**

Pursuant to 18 U.S.C. § 1350, as adopted pursuant to Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned hereby certifies that the Annual Report on Form 10-K for the period ended December 31, 2025, for First America Resources Corporation (the "Company") fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 and that the information contained in such Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

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| | | |
|:---|:---|:---|
|  | **First America Resources Corporation** | **First America Resources Corporation** |
| Dated: March 31, 2026 | By: | */s/ Jian Li* |
|  |  | Jian Li |
|  |  | Chief Executive Officer and Chief Financial Officer |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to First America Resources Corporation and will be retained by First America Resources Corporation and furnished to the Securities and Exchange Commission or its staff upon request.