Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 60,834 $ 49,193
Investments in securities, fair value 808,675 879,208
Investment in gold commodity, at cost 516,346 516,346
Royalty income receivable 23,600 26,000
Prepaid expenses and other current assets 19,983 8,062
Total current assets 1,429,438 1,478,809
Property and equipment    
Property and equipment 54,231 54,231
Accumulated depreciation and amortization (45,124) (44,276)
Property and equipment, net 9,107 9,955
Other assets    
Long-term investments 104,431 104,431
Intangible property    
Royalty interests in the Permian Basin 1,369,899 1,369,899
Accumulated amortization of royalty interests (137,498) (103,251)
Intangible property, net 1,232,401 1,266,648
Total other assets 1,336,832 1,371,079
Total assets 2,775,377 2,859,843
Current liabilities    
Accounts payable 69,950 361
Accrued expenses 36,844 38,578
Total current liabilities 106,794 38,939
Long-term liabilities    
Accrued salary, retirement, and incentive fee-related party 523,608 502,805
Total long-term liabilities 523,608 502,805
Total liabilities 630,402 541,744
Commitments and Contingencies (Note 15)
Shareholders’ equity    
Preferred stock, $0.0001 and $0.0001 par value, 5,000,000 and 5,000,000 shares authorized; 11 and 11 series Q preferred shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively. [1]
Common stock, $0.0001 and $0.0001 par value, 75,000,000 and 75,000,000 shares authorized; 21,683,189 and 21,683,189 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively. 2,168 2,168
Additional paid in capital 11,917,362 11,917,362
Accumulated deficit (9,774,555) (9,601,431)
Total shareholders’ equity 2,144,975 2,318,099
Total liabilities and shareholders’ equity $ 2,775,377 $ 2,859,843
[1] Par value is less than $0.01.