Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 49,193 $ 2,182,121
Investment in securities at fair value 879,208 1,120,482
Investments in gold commodity, at cost 516,346
Royalty income receivable 26,000
Prepaid expenses and other current assets 8,062 7,010
Total current assets 1,478,809 3,309,613
Property and equipment    
Property and equipment 54,231 48,239
Accumulated depreciation and amortization (44,276) (47,721)
Property and equipment, net 9,955 518
Other assets    
Long term investments 104,431 104,431
Intangible property    
Royalty interests in the Permian Basin 1,369,899
Accumulated amortization of royalty interests (103,251)
Intangible property, net 1,266,648
Total other assets 1,371,079 104,431
Total assets 2,859,843 3,414,562
Current liabilities    
Accounts payable 361 3,166
Accrued expenses 38,578 42,599
Total current liabilities 38,939 45,765
Long-term liabilities    
Accrued salary, retirement, and incentive fee-related party 502,805 476,578
Total long-term liabilities 502,805 476,578
Total liabilities 541,744 522,343
Commitments and Contingencies (Note 17)
Shareholders’ equity    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized; 11 and 11 series Q preferred shares issued and outstanding at December 31, 2025 and 2024 [1]
Common stock, $0.0001 par value, 75,000,000 shares authorized; 21,683,189 and 21,686,105 shares issued and outstanding at December 31, 2025 and 2024 2,168 2,169
Additional paid in capital 11,917,362 11,917,362
Accumulated deficit (9,601,431) (9,027,312)
Total shareholders’ equity 2,318,099 2,892,219
Total liabilities and shareholders’ equity $ 2,859,843 $ 3,414,562
[1] Par value is less than $0.01