Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables)

3 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Consolidated Financial Statements

The tables below reflect the sections of the Company’s consolidated financial statements that were impacted by the error.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

	Three months ended September 30, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	2,948,846		$	105,152		$	3,053,998
Research and development		2,155,314			1,458,538			3,613,852
Exploration		1,279,782			70,138			1,349,920
Total operating expenses		6,383,942			1,633,828			8,017,770
Net loss before other income (expense)	$	(6,383,942	)	$	(1,633,828	)	$	(8,017,770	)
Other income (expense)
Amortization and accretion of financing costs	$	(706,731	)	$	(26,165	)	$	(732,896	)
Total other income (expense)		(848,042	)		(26,165	)		(874,207	)
Net loss attributable to common stockholders	$	(7,231,985	)	$	(1,659,992	)	$	(8,891,977	)
Net loss per share, basic and diluted	$	(0.16	)	$	(0.03	)	$	(0.19	)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Three months ended September 30, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional paid-in capital:
Stock-based compensation expense		1,921,442			1,447,827			3,369,269
Balance, September 30, 2023	$	226,317,285		$	1,955,760		$	228,273,045
Accumulated deficit
Net loss for period		(7,231,985	)		(1,659,992	)		(8,891,977	)
Balance, September 30, 2023	$	(167,205,560	)	$	(2,512,925	)	$	(169,718,485	)
Total stockholders’ equity
Balance, September 30, 2023	$	59,195,532		$	(557,166	)	$	58,638,366

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

	Three months ended September 30, 2023
	As Reported			Adjustments			As Corrected
Operating Activities
Net loss attributable to stockholders	$	(7,231,985	)	$	(1,659,992	)	$	(8,891,977	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and accretion expense	$	256,459		$	26,165		$	282,624
Stock-based compensation		1,921,442			1,447,827			3,369,269
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$	228,071		$	186,000		$	414,071
Net cash used in operating activities	$	(4,758,984	)	$	-		$	(4,758,984	)