Note 14 - Sales and Service Revenue and Cost of Sales and Services

9 Months Ended

Apr. 30, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 14:          SALES AND SERVICE REVENUE AND COST OF SALES AND SERVICES

During the three and nine months ended April 30, 2022, we recorded sales of $9,800,000 and $22,946,000, respectively, from the sales of 200,000 and 500,000 pounds, respectively, of our uranium concentrate inventory. During the three and nine months ended April 30, 2022, we recorded revenue from toll processing services totaling $92,310 and $137,235, respectively, which was generated from processing uranium resins according to a toll processing agreement that we inherited from the U1A Acquisition.

The table below provides a breakdown of sales and service revenue and cost of sales and service revenue:

	Three Months Ended April 30,					Nine Months Ended April 30,
	2022			2021		2022			2021
Sales of purchased uranium inventory	$	9,800,000		$	-	$	22,946,000		$	-
Revenue from toll processing services		92,310			-		137,235			-
Total sales and service revenue	$	9,892,310		$	-	$	23,083,235		$	-
Cost of purchased uranium inventory	$	(6,477,830	)	$	-	$	(15,688,600	)	$	-
Cost of toll processing services		(76,924	)		-		(114,362	)		-
Total cost of sales and services	$	(6,554,754	)	$	-	$	(15,802,962	)	$	-