$ACRG

Standard Metals Processing, Inc.

CIK:0000773717|SEC Filings

Unaudited Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
General and administrative expenses	$ 301,162	$ 244,269	$ 606,246	$ 539,201
Total operating expenses	301,162	244,269	606,246	539,201
Loss from operations	(301,162)	(244,269)	(606,246)	(539,201)
Other income (expense):
Other income	2,444	2,413	4,889	4,827
Interest expense	(124,346)	(114,069)	(244,055)	(219,192)
Total other expense, net	(121,902)	(111,656)	(239,166)	(214,365)
Loss before income tax provision	(423,064)	(355,925)	(845,412)	(753,566)
Income tax provision
Net loss	$ (423,064)	$ (355,925)	$ (845,412)	$ (753,566)
Basic net loss per common share (in Dollars per share)	$ (0.03)	$ (0.03)	$ (0.06)	$ (0.05)
Diluted net loss per common share (in Dollars per share)	$ (0.03)	$ (0.03)	$ (0.06)	$ (0.05)
Basic weighted average common shares outstanding (in Shares)	14,101,318	13,912,237	14,100,779	13,912,237
Diluted weighted average common shares outstanding (in Shares)	14,101,318	13,912,237	14,100,779	13,912,237

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (845,412)	$ (753,566)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	16,266
Amortization of operating right of use assets	3,841	1,920
Changes in operating assets and liabilities:
Prepaid expenses	36,661	10,000
Accounts payable	64,375	15,307
Accounts payable - related parties	33,414	5,000
Accrued expenses	(72)
Accrued expenses - related parties	602
Accrued interest	232,399	192,125
Accrued interest - related party	11,656	27,068
Operating lease liabilities	(3,576)	(1,620)
Net cash used in operating activities	(449,846)	(503,766)
Cash flows from financing activities:
Proceeds from convertible notes - related party	447,464	511,492
Net cash provided by financing activities	447,464	511,492
Net (decrease) increase in cash	(2,382)	7,726
Cash, beginning of period	5,296	719
Cash, end of period	2,914	8,445
Noncash investing and financing activity:
Cash paid during the period for interest
Cash paid during the period for income taxes
Acquisition of assets through operating leases		23,044
Note payable issued in settlement of accounts payable pursuant to debt modification	$ 60,000

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash	$ 2,914	$ 5,296
Prepaid expenses	5,728	42,389
Total current assets	8,642	47,685
Mineral rights	3,883,524	3,883,524
Total assets	3,905,608	3,948,492
Liabilities and stockholders’ deficit
Accounts payable	1,747,032	1,742,657
Accrued expenses	40,958	41,030
Accrued interest	2,741,358	2,508,959
Promissory note	165,000	105,000
Total current liabilities	5,248,050	4,457,703
Total liabilities	5,254,650	4,468,388
Commitments and contingencies (Note 9)
Stockholders’ deficit:
Common stock, $0.001 par value, 1,000,000,000 shares authorized: 14,101,318 and 14,099,393 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.	14,101	14,099
Additional paid-in capital	104,956,568	104,940,304
Accumulated deficit	(116,319,711)	(115,474,299)
Total stockholders’ deficit	(11,349,042)	(10,519,896)
Total liabilities and stockholders’ deficit	3,905,608	3,948,492
Related Party
Assets
Right-of-use asset - related party	13,442	17,283
Liabilities and stockholders’ deficit
Accounts payable - related parties	78,569	45,155
Accrued expenses - related parties	8,102	7,500
Accrued interest - related party	11,656
Operating lease liability - related party	7,911	7,402
Convertible promissory notes - related party	447,464
Operating lease liability - related party, non-current	6,600	10,685
Series A Preferred Stock
Mezzanine equity:
Series A preferred stock, $0.001 par value; 10,000,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025; liquidation preference of $10,000,000	$ 10,000,000	$ 10,000,000