SEDAR Interim Financial Statements

[
  {
    "companyName": "Southern Empire Resources Corp.",
    "reportingPeriodEnd": "2025-07-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 1345,
      "equityInvestmentsAtFairValue": 4830,
      "accountsReceivable": 25728,
      "prepaidsAndAdvances": 9315,
      "totalCurrentAssets": 41218,
      "reclamationBonds": 87459,
      "equipment": 5460,
      "explorationAndEvaluationAssets": 1286437,
      "totalAssets": 1420574,
      "accountsPayableAndAccruedLiabilities": 2113621,
      "totalCurrentLiabilities": 2113621,
      "totalLiabilities": 2113621,
      "commonShares": 16589138,
      "contributedSurplus": 1314731,
      "deficit": -18596916,
      "totalEquity": -693047,
      "cashPerShare": 0.0000198,
      "workingCapitalPerShare": -0.0306
    },
    "incomeStatement": {
      "amortization": 1585,
      "managementAndConsultingFees": 398530,
      "businessAndInvestorRelations": 14581,
      "generalAndAdministration": 27125,
      "professionalFees": 12004,
      "stockBasedCompensation": 16038,
      "transferAgentAndListingFees": 14586,
      "travelAndAccommodation": 0,
      "shareholderCommunications": 0,
      "totalExpenses": 484449,
      "unrealizedGainLossOnMarketableSecurities": -1265,
      "realizedGainLossOnSaleOfMarketableSecurities": 0,
      "realizedGainOnDisposalOfExplorationAndEvaluationAsset": 60492,
      "netAndComprehensiveLoss": -425222,
      "basicAndDilutedLossPerShare": -0.01,
      "weightedAverageNumberOfCommonSharesOutstandingBasic": 67756704,
      "weightedAverageNumberOfCommonSharesOutstandingDiluted": 67756704
    },
    "cashFlowStatement": {
      "netIncomeLoss": -425221,
      "amortization": 1585,
      "shareBasedCompensation": 16038,
      "unrealizedGainLossOnEquityInvestments": 1265,
      "realizedGainLossOnSaleOfMarketableSecurities": 0,
      "changesInAccountsReceivable": -4076,
      "changesInPrepaids": -9064,
      "changesInAccountsPayableAndAccruedLiabilities": 471896,
      "netCashFromOperatingActivities": 52423,
      "saleOfMarketableSecurities": 0,
      "increaseInExplorationAndEvaluationAsset": -168666,
      "netCashUsedInInvestingActivities": -168666,
      "issuanceOfCommonShares": 100000,
      "netCashFromFinancingActivities": 100000,
      "netChangeInCash": -16243,
      "cashBeginningOfPeriod": 17588,
      "cashEndOfPeriod": 1345
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Marketable Securities",
        "description": "Equity investment in Lincoln Gold Mining Inc. (gold exploration)",
        "ownershipPercentage": null,
        "value": 4830,
        "notes": "Fair value through profit or loss (FVTPL). Cost: $25,300."
      },
      {
        "type": "Reclamation Bond",
        "description": "Bond held with the Bureau of Land Management for properties in California",
        "ownershipPercentage": null,
        "value": 87459,
        "notes": null
      },
      {
        "type": "Mineral Property",
        "description": "Oro Cruz Project, California, U.S.A.",
        "ownershipPercentage": 100,
        "value": 25233,
        "notes": "Acquired via option agreements. Subject to NSR royalties: 2% on Hercules Claims, 1% radius royalty. Can be reduced with payments."
      },
      {
        "type": "Mineral Property",
        "description": "Pedro Gold Project, Durango, Mexico",
        "ownershipPercentage": 100,
        "value": 875421,
        "notes": "Option agreement to acquire 100% interest from Commander Resources Ltd. Subject to 2% NSR."
      },
      {
        "type": "Mineral Property",
        "description": "VLM Project, Mexico",
        "ownershipPercentage": 100,
        "value": 296352,
        "notes": "Option agreement with Riverside Resources Inc. Subject to NSR: 2.5% on precious metals, 1.75% on base metals. Reducible with payment."
      },
      {
        "type": "Mineral Property",
        "description": "Centauro Gold Project, Chihuahua, Mexico",
        "ownershipPercentage": 100,
        "value": 19083,
        "notes": "Option to earn 100% from Mexican vendor via Commander. Subject to 3% NSR, reducible by 2% for US$2,000,000. Option agreement sold on Feb 25, 2025 for future cash payments."
      },
      {
        "type": "Mineral Property",
        "description": "La Loma Gold Project, Chihuahua, Mexico",
        "ownershipPercentage": 100,
        "value": 70346,
        "notes": "Acquired by staking."
      },
      {
        "type": "Mineral Property",
        "description": "Suaqui Verde Project, Mexico",
        "ownershipPercentage": null,
        "value": 1,
        "notes": "Material uncertainty regarding underlying ownership. Impaired to $1."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 69597800,
      "classesOfShares": [
        "common shares",
        "preferred shares"
      ],
      "warrants": [
        {
          "number": 2000000,
          "exercisePrice": 0.1,
          "expiryDate": "2028-07-02"
        }
      ],
      "options": [
        {
          "number": 730000,
          "exercisePrice": 0.3,
          "expiryDate": "2026-04-30"
        },
        {
          "number": 100000,
          "exercisePrice": 0.3,
          "expiryDate": "2026-03-11"
        },
        {
          "number": 400000,
          "exercisePrice": 0.3,
          "expiryDate": "2026-06-10"
        },
        {
          "number": 700000,
          "exercisePrice": 0.11,
          "expiryDate": "2027-01-18"
        },
        {
          "number": 100000,
          "exercisePrice": 0.11,
          "expiryDate": "2027-02-03"
        },
        {
          "number": 1740000,
          "exercisePrice": 0.07,
          "expiryDate": "2028-08-28"
        },
        {
          "number": 400000,
          "exercisePrice": 0.3,
          "expiryDate": "2028-08-28"
        },
        {
          "number": 100000,
          "exercisePrice": 0.11,
          "expiryDate": "2028-08-28"
        },
        {
          "number": 1680000,
          "exercisePrice": 0.05,
          "expiryDate": "2030-04-10"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": [
        {
          "period": "Nine months ended July 31, 2025",
          "managementFeesToOfficers": 297000,
          "stockBasedCompensation": 10023,
          "total": 307023
        },
        {
          "period": "Nine months ended July 31, 2024",
          "managementFeesToOfficers": 297000,
          "stockBasedCompensation": 0,
          "total": 297000
        }
      ],
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Ronald K. Netolitzky (Director)",
          "description": "Option agreement to acquire 25% of Oro Cruz Project. Amended to issue 2,000,000 shares in lieu of $200,000 cash payments.",
          "amount": 120000,
          "period": "Year ended October 31, 2022"
        },
        {
          "counterparty": "Mackenzie Corporation (controlled by President & CEO)",
          "description": "Purchase of American Girl Mine Property (patented claims) for US$330,000.",
          "amount": null,
          "period": "September 14, 2020"
        },
        {
          "counterparty": "Directors, officers, and affiliated companies",
          "description": "Accounts payable for fees and expense reimbursements",
          "amount": 1424353,
          "period": "As at July 31, 2025"
        }
      ]
    },
    "subsequentEvents": []
  }
]