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

3 Months Ended

Oct. 31, 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 months ended October 31, 2022, we recorded sales of $57,209 from the sales of 500,000 pounds of our uranium concentrate inventory, and revenue of $83 from toll processing services which was generated from processing uranium resins according to a toll processing agreement that we inherited from our acquisition of Uranium One Americas, Inc. (“U1A”) in December of 2021 (the “U1A Acquisition”). No sales of purchased inventory or revenue from toll processing services were recorded for the three months ended October 31, 2021.

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

	Three Months Ended October 31,
	2022			2021
Sales of purchased uranium inventory	$	57,209		$	-
Revenue from toll processing services		83			-
Total sales and service revenue	$	57,292		$	-
Cost of purchased uranium inventory	$	(43,365	)	$	-
Cost of toll processing services		(69	)		-
Total cost of sales and services	$	(43,434	)	$	-
Gross Profit	$	13,858		$	-