$BSAI

INCEPTION MINING INC.

CIK:0001416090|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Expenses
General and administrative	$ 482,102	$ 1,541,189	$ 896,843	$ 1,687,294
Total Operating Expenses	482,102	1,541,189	896,843	1,687,294
Loss from Operations	(482,102)	(1,541,189)	(896,843)	(1,687,294)
Other Income/(Expenses)
Other income (expense)			9,512	96
Interest income	2,173		8,344
Change in derivative liability	7,600		14,516	186,542
Gain (loss) on extinguishment of debt			(22,920)	152,131
Change in fair value of liabilities	200		200
Interest expense	(5,980)	(15,731)	(20,457)	(33,006)
Total Other Income/(Expenses)	3,993	(15,731)	(10,805)	305,763
Net Loss before Income Taxes	(478,109)	(1,556,920)	(907,648)	(1,381,531)
Provision for Income Taxes
Net Loss	$ (478,109)	$ (1,556,920)	$ (907,648)	$ (1,381,531)
Net loss per share - Basic	$ (0.02)	$ (0.50)	$ (0.04)	$ (0.48)
Net loss per share - Diluted	$ (0.02)	$ (0.50)	$ (0.04)	$ (0.48)
Weighted average number of shares outstanding during the period - Basic	25,034,045	3,137,732	25,012,633	2,900,493
Weighted average number of shares outstanding during the period - Diluted	25,034,045	3,137,732	25,012,633	2,900,493

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net Loss	$ (907,648)	$ (1,381,531)
Adjustments to reconcile net loss to net cash used in operations
Common stock issued for services		1,343,100
(Gain) loss on extinguishment of debt	22,920	(338,673)
Change in derivative liability	(14,516)
Change in fair value of liabilities	(200)
Amortization of right-of-use asset	36,528
Amortization of debt discount	9,297
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,213	(31,382)
Other assets	30,000
Accounts payable and accrued liabilities	167,951	279,818
Operating lease liabilities	8,472
Accounts payable and accrued liabilities - related parties	(9,512)	27,651
Net Cash Used In Operating Activities	(655,495)	(101,017)
Cash Flows From Investing Activities:
Purchase of land	(165,000)
Net Cash Used In Investing Activities	(165,000)
Cash Flows From Financing Activities:
Repayment of notes payable-related parties	(112,000)	(8,500)
Proceeds from convertible notes payable	75,000
Proceeds from notes payable-related parties	150,000	110,406
Proceeds from issuance of common stock	254,606
Net Cash Provided by Financing Activities	367,606	101,906
Effects of exchange rate changes on cash
Net Change in Cash	(452,889)	889
Cash at Beginning of Period	960,436
Cash at End of Period	507,547	889
Supplemental disclosure of cash flow information:
Cash paid for interest	462
Cash paid for taxes
Supplemental disclosure of non-cash investing and financing activities:
Common stock issued for conversion of debt	72,920
Common stock issued for subscription receivable	17,107
Prepaid Reg A expenses	109,750
Deposit applied to land purchase	15,000
Payment for land paid by related party	68,116
Note payable issued to related party for settlement of convertible note payable		$ 125,000

Condensed Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 507,547	$ 960,436
Prepaid expenses and other current assets	6,263	117,225
Other current assets		45,000
Total Current Assets	513,810	1,122,661
Land	248,116
Solar power asset	1,289,309	1,289,309
Right of use operating lease asset	219,171	255,699
Other assets	531	531
Total Assets	2,270,937	2,668,200
Current Liabilities
Accounts payable and accrued liabilities	1,941,760	1,773,808
Accrued interest - related parties		9,512
Operating lease liability	163,057	118,057
Convertible notes payable - net of discount	124,800	90,703
Derivative liabilities		14,516
Total Current Liabilities	3,745,189	3,416,051
Operating lease liability, net of current portion	146,113	182,642
Total Liabilities	3,891,302	3,598,693
Commitments and Contingencies
Stockholders’ Deficit
Preferred stock, $0.00001 par value; 10,000,000 shares authorized, 51 shares issued and outstanding	1	1
Common stock, $0.00001 par value; 10,300,000,000 shares authorized, 25,079,147 and 24,978,811 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	251	250
Additional paid-in capital	33,632,148	33,448,136
Subscriptions payable	50,870
Subscriptions receivable	(17,107)
Accumulated deficit	(35,286,528)	(34,378,880)
Total Stockholders’ Deficit	(1,620,365)	(930,493)
Total Liabilities and Stockholders’ Deficit	2,270,937	2,668,200
Nonrelated Party [Member]
Current Liabilities
Notes payable	60,000	60,000
Related Party [Member]
Current Liabilities
Notes payable	$ 1,455,572	$ 1,349,455