$DYNR

DYNARESOURCE, INC.

CIK:0001111741|SEC Filings

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
REVENUE	$ 11,436,532	$ 15,886,286	$ 29,484,231	$ 29,582,687
Operating costs	(9,952,106)	(10,490,801)	(20,633,880)	(20,662,439)
Depreciation and depletion (Note 3)	(520,984)	(223,443)	(980,776)	(386,009)
GROSS PROFIT	963,442	5,172,042	7,869,575	8,534,239
General and administrative expenses	1,448,781	1,794,294	2,822,309	3,044,538
Stock-based compensation (Note 11)	648,655	574,957	831,834	826,664
Accretion expense (Note 09)	47,082	4,986	81,722	9,972
Right of use asset amortization	22,810	27,755	38,484	55,509
Depreciation and amortization (Note 3)	(51,680)	22,528	17,248	22,528
OPERATING (LOSS) INCOME	(1,152,206)	2,747,522	4,077,978	4,575,028
Foreign currency gain	(1,540,773)	(178,021)	(1,416,022)	(162,866)
Interest expense	402,280	398,843	800,793	775,677
Derivative mark-to-market (gain) / loss (Note 6)	(820,800)	339,022	(892,173)	267,649
Other (income) expenses	(194,597)	580,879	650,924	569,739
NET INCOME BEFORE TAXES	1,001,684	1,606,799	4,934,456	3,124,829
Mining tax expense	686,890	507,343	1,235,291	811,763
Income tax expense	(315,556)	595,434	534,670	1,207,668
TOTAL TAX EXPENSE	371,334	1,102,777	1,769,961	2,019,431
NET INCOME	630,350	504,022	3,164,495	1,105,398
DEEMED DIVIDEND FOR SERIES C & D PREFERRED	(58,575)	(58,575)	(117,150)	(117,150)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 571,775	$ 445,447	$ 3,047,345	$ 988,248
INCOME PER SHARE ATTRIBUTABLE TO THE EQUITY HOLDERS OF DYNARESOURCE, INC.
Basic income per common share	$ 0.02	$ 0.02	$ 0.1	$ 0.03
Weighted average shares outstanding - Basic	29,636,239	29,315,726	29,476,868	29,315,726
Diluted income per common share	$ 0	$ 0.03	$ 0.07	$ 0.05
Weighted average shares outstanding - Diluted	37,712,817	36,113,164	37,553,446	36,113,164
OTHER COMPREHENSIVE (LOSS) INCOME
Unrealized foreign currency translation (loss) gain	$ (282,638)	$ 1,005,614	$ 337,501	$ 967,622
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	(282,638)	1,005,614	337,501	967,622
TOTAL COMPREHENSIVE INCOME	$ 347,712	$ 1,509,636	$ 3,501,996	$ 2,073,020

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,164,495	$ 1,105,398
Adjustments to reconcile net income (loss) to cash used in operating activities
Derivatives mark-to-market gain	(892,173)	267,649
Accretion expense	81,722	9,972
Depreciation and depletion	998,024	408,537
Right-of-use asset amortization	38,484	55,509
Interest expense	233,177	0
Other expense	125,664	603,105
Stock-based compensation	831,834	826,664
Deferred tax asset	306,018	1,084,015
Foreign exchange	(563,341)	0
Operating cash flows before change in non-cash working capital items	4,323,904	4,360,849
Change in non-cash working capital items:
Accounts receivable	0	433,692
Inventories	421,187	(20,644)
Foreign tax receivable	(2,069,735)	(3,296,992)
Other assets	(35,081)	(2,025,802)
Accounts payable and accrued expenses	(709,923)	2,935,627
Accrued mining taxes and other liabilities	1,808,123	0
Other liabilities	(57,330)	574,980
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES	3,681,145	2,961,710
CASH FLOWS FROM INVESTING ACTIVITIES
Mine development	(4,104,530)	(4,939,778)
Purchase of equipment	(418,390)	(981,537)
CASH FLOWS USED IN INVESTING ACTIVITIES	(4,522,920)	(5,921,315)
CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES
Proceeds from sale of common stock	1,000,000	0
Proceeds from credit line	0	2,650,000
Payments of credit line	(2,500,000)	(2,440,069)
Operating lease payments	(88,090)	(76,175)
CASH FLOWS USED IN FINANCING ACTIVITIES	(1,588,090)	133,756
Effects of foreign currency in cash	25,118	581,870
NET DECREASE IN CASH	(2,404,747)	(2,243,979)
CASH AT BEGINNING OF PERIOD	4,171,891	4,781,352
CASH AT END OF PERIOD	1,767,144	2,537,373
SUPPLEMENTAL DISCLOSURES
Cash paid for interest	645,917	464,459
Cash paid for income taxes	$ 0	$ 0

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash	$ 1,767,144	$ 4,171,891
Concentrate and ore inventories (Note 2)	1,488,112	1,595,363
Foreign tax receivable	510,156	1,424,244
Supplies inventory	2,059,852	2,313,917
Other current assets (Note 4)	738,227	694,939
Total current assets	6,563,491	10,200,354
Mineral property interests, plant and equipment (net of accumulated depreciation and depletion of $2,083,978 and $1,094,844) (Note 3)	21,829,220	17,308,323
Right-of-use assets, net	485,020	500,392
Deferred tax asset, net	2,043,168	2,349,186
Foreign tax receivable	30,824,758	27,238,331
TOTAL ASSETS	61,745,657	57,596,586
Current liabilities
Accounts payable and accrued liabilities (Note 5)	16,890,648	17,305,927
Accrued mining taxes and other liabilities (Note 5)	12,029,206	9,786,005
Derivative liability (Note 6)	356,857	1,249,030
Credit line (Note 7)	10,000,000	8,333,333
Current portion of operating lease payable	107,802	87,689
Mining concession duties payable (Note 8)	5,538,989	5,174,078
Total current liabilities	44,923,502	41,936,062
Credit line (Note 7)	2,500,000	6,666,667
Operating lease payable, less current portion	426,226	511,317
Deferred tax liability	622,030	622,030
Asset retirement obligation (Note 9)	2,968,319	2,831,430
Other liabilities	209,220	266,550
TOTAL LIABILITIES	51,649,297	52,834,056
TEMPORARY EQUITY (Note 10)
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIENCY) (Note 10)
Common Stock, $0.01 par value, 40,000,000 shares authorized 30,149,059 shares issued and outstanding	301,490	293,157
Series E Convertible Preferred Stock, $0.0001 par value, 1,552,795 shares authorized, issued and outstanding	2,500,000	2,500,000
Preferred rights	40,000	40,000
Additional paid-in-capital	71,991,896	70,168,395
Treasury stock, 37,180 shares each period, at cost	(95,023)	(95,023)
Accumulated other comprehensive income	(8,310,012)	(8,647,513)
Accumulated deficit	(62,189,471)	(65,353,966)
TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY)	4,238,880	(1,094,950)
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY (DEFICIENCY)	61,745,657	57,596,586
Series C Senior Convertible Preferred Stock
TEMPORARY EQUITY (Note 10)
Senior Convertible Preferred Stock	4,337,480	4,337,480
Series D Senior Convertible Preferred Stock
TEMPORARY EQUITY (Note 10)
Senior Convertible Preferred Stock	$ 1,520,000	$ 1,520,000