SEDAR Interim Financial Statements

[
  {
    "companyName": "Inflection Resources Ltd.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 1582242,
      "receivables": 61026,
      "receivableForExplorationProjects": 119523,
      "prepaids": 70272,
      "totalCurrentAssets": 1833063,
      "refundableSecurityDeposits": 233268,
      "explorationAndEvaluationAssets": 10178975,
      "totalNonCurrentAssets": 10412243,
      "totalAssets": 12245306,
      "accountsPayableAndAccruedLiabilities": 318286,
      "advanceForExplorationProjects": 0,
      "totalLiabilities": 318286,
      "shareCapital": 20496657,
      "reserves": 2828044,
      "deficit": -11397681,
      "totalShareholdersEquity": 11927020,
      "totalLiabilitiesAndShareholdersEquity": 12245306,
      "cashPerShare": 0.0139,
      "workingCapitalPerShare": 0.0133
    },
    "incomeStatement": {
      "accountingAndAudit": 32304,
      "amortization": 1802,
      "consulting": 2000,
      "officeAndSundry": 17940,
      "projectGeneration": 4301,
      "regulatory": 10526,
      "salariesAndBenefits": 111933,
      "shareholderRelations": 51427,
      "shareBasedPayments": 878400,
      "totalExpenses": -1110633,
      "writeOffOfExplorationAndEvaluationAssets": 0,
      "interestAndOtherIncome": 5178,
      "foreignExchange": 267,
      "netLossAndComprehensiveLoss": -1105188,
      "basicAndDilutedLossPerShare": -0.01,
      "weightedAverageNumberOfCommonSharesOutstanding": 113908569
    },
    "cashFlowStatement": {
      "netLossForThePeriod": -1105188,
      "amortization": 1802,
      "shareBasedPayments": 878400,
      "changesInReceivables": -19409,
      "changesInPrepaids": 11622,
      "changesInAccountsPayableAndAccruedLiabilities": 123181,
      "cashUsedByOperatingActivities": -109592,
      "expendituresForExplorationAndEvaluationAssets": -539010,
      "recoveriesFromCashCallFromFarmInAgreement": 407199,
      "recoveriesFromManagementFeeReceiptsFromFarmInAgreement": 41025,
      "advanceForExplorationProjectsFromFarmInAgreement": -124330,
      "recoveryOfRefundableSecurityDepositsNet": 4576,
      "cashProvidedFromUsedByInvestingActivities": -210540,
      "changeInCashAndCashEquivalents": -320132,
      "cashAndCashEquivalentsBeginningOfPeriod": 1902374,
      "cashAndCashEquivalentsEndOfPeriod": 1582242
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Mineral Property",
        "description": "NSW Property (including Acquired NSW Licenses and Romardo Licenses)",
        "ownershipPercentage": 100,
        "value": 10178975,
        "notes": "2% NSR on Acquired NSW Licenses, 2% NSR on Romardo Licenses, with option to purchase 1% for AUD 3 million and AUD 2 million respectively."
      },
      {
        "type": "Farm-in Agreement",
        "description": "AngloGold Farm-in Agreement for copper-gold projects in New South Wales",
        "ownershipPercentage": null,
        "value": null,
        "notes": "Phase I completed, AngloGold earned 9.9% interest in the Company. Phase II: AngloGold may earn 51% in up to five Designated Projects by funding AUD 7,000,000 per project. Phase III: may earn additional 14% (total 65%) by funding AUD 20,000,000 per project. Phase IV: may earn further 10% (total 75%) by delivering Pre-Feasibility Study and granting 2% NSR."
      },
      {
        "type": "Mineral Property",
        "description": "Bell River Project",
        "ownershipPercentage": 100,
        "value": 250000,
        "notes": "Acquired from Newmont. Contingent payments: AUD 2,500,000 upon Pre-Feasibility Study and AUD 5,000,000 upon commercial production. Newmont retains 2% NSR, Company may purchase 1% for AUD 5,000,000."
      },
      {
        "type": "Mineral Property",
        "description": "Tennant East Project",
        "ownershipPercentage": 100,
        "value": 62500,
        "notes": "Acquired from Newmont. Newmont retains 1.5% NSR, Company may purchase 0.5% for fair market value after Pre-Feasibility Study."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 113908569,
      "classesOfShares": ["Common Shares"],
      "warrants": [],
      "options": [
        {
          "number": 200000,
          "exercisePrice": 0.34,
          "expiryDate": "2026-03-08"
        },
        {
          "number": 1650000,
          "exercisePrice": 0.12,
          "expiryDate": "2027-03-02"
        },
        {
          "number": 1525000,
          "exercisePrice": 0.12,
          "expiryDate": "2027-12-21"
        },
        {
          "number": 200000,
          "exercisePrice": 0.22,
          "expiryDate": "2028-06-01"
        },
        {
          "number": 2950000,
          "exercisePrice": 0.20,
          "expiryDate": "2029-03-27"
        },
        {
          "number": 4000000,
          "exercisePrice": 0.30,
          "expiryDate": "2030-12-22"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-12-31": {
          "executiveSalariesAndBenefits": 74333,
          "geologicalConsulting": 68640,
          "directorsFees": 42000,
          "shareBasedPayments": 735660,
          "total": 920633
        },
        "2024-12-31": {
          "executiveSalariesAndBenefits": 77100,
          "geologicalConsulting": 62965,
          "directorsFees": 35475,
          "shareBasedPayments": 0,
          "total": 175540
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Headwater Gold Inc., NewQuest Capital Inc. and Red Canyon Resources Ltd.",
          "description": "Net office, sundry, rent and salary allocations reimbursed",
          "amount": 67112,
          "period": "2025-12-31"
        },
        {
          "counterparty": "Headwater Gold Inc., NewQuest Capital Inc. and Red Canyon Resources Ltd.",
          "description": "Net office, sundry, rent and salary allocations reimbursed",
          "amount": 74776,
          "period": "2024-12-31"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": null,
        "description": "Granted 4,000,000 stock options to directors, officers, employees and advisors. Exercise price of $0.30 per share, expiring December 22, 2030.",
        "impactValue": null
      }
    ]
  }
]