XML 100 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
1 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2023
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:          
Net income (loss) $ (9,522) $ (7,835,939) $ (4,405,065) $ (1,600)  
Adjustment to reconcile net loss to cash used in operating activities:          
Accretion of asset retirement obligation   871,000 207,400    
Depreciation   17,977    
Non-Cash Interest Expense   458,619    
Change in fair value of liabilities   1,955,000    
Operating and prepaid expenses paid by related party   1,367,649    
Compensation expense   362,093    
Changes in operating assets and liabilities:          
Prepaid expenses and other current assets   (125,529) (38,459)    
Other receivables   (7,481) (1,012)    
Accounts receivable – related party   (90,499)    
Accounts payable   664,371 2,925,359    
Accounts payable – related party   (1,313,336) (2,705,019)    
Accrued expenses and other liabilities   544,712 462,816    
Interest earned in Trust Account   (44,953) (11,732)    
Prepaid expenses (1,600)     1,600  
Accounts payables and accrued expenses 11,122        
Net cash used in operating activities (4,499,012) (2,186,331)  
Cash Flows from Investing Activities:          
Capitalized asset acquisition costs      
Purchase of fixed assets   (2,798)    
Net cash used in investing activities   (2,798)    
Cash Flows from Financing Activities:          
Proceeds from convertible notes   1,823,243 2,217,089    
Proceeds from Business Combination   13,264    
Issuance of Ordinary Shares   2,870,496    
Net cash used in financing activities   4,707,003 2,217,089    
Effect of exchange rate changes on cash and cash equivalents   (68,051) (8,740)    
Net increase in cash 137,142 22,018  
Cash and cash equivalents, beginning of period  
Cash, end of period    
Supplemental cash flow information:          
Interest paid   36,406    
Taxes paid      
Noncash investing and financing activities:          
Acquisition of Mineral rights in exchange for certain obligations   323,600,000    
Acquisition of Property, plant and equipment, net in exchange for certain obligations   44,600,000    
Assumption of royalty payable in exchange for mineral rights and property, plant and equipment, net   338,200,000    
Assumption of contingent consideration liability in exchange for mineral rights and property, plant and equipment, net   17,100,000    
Assumption of asset retirement obligation in connection with obtaining mineral rights and property, plant and equipment   12,900,000    
Accounts payable, accrued liabilities and other current liabilities combined   3,013,837    
Convertible notes payable combined   770,000    
Warrant liabilities combined   230,000    
PERCEPTION CAPITAL CORP IV          
Cash Flows from Operating Activities:          
Net income (loss)       702,959 5,147,347
Changes in operating assets and liabilities:          
Change in fair value of warrant liability       (424,482) (461,680)
Change in fair value of derivative liability       (122,297) (9,159)
Gain attributable to derecognition of deferred underwriting fee allocated to warrants       (409,845)
Forgiveness of debt       (720,077)
Interest expense – debt discount       115,024 16,432
Interest earned in Trust Account       (2,409,077) (8,128,147)
Prepaid expenses       378,735 (138,867)
Accounts payables and accrued expenses       965,696 534,440
Net cash used in operating activities       (793,442) (4,169,556)
Cash Flows from Investing Activities:          
Investment of cash into Trust Account       (414,479) (2,209,139)
Cash withdrawn from Trust Account in connection with redemption       51,847,295 195,400,571
Net cash used in investing activities       51,432,816 193,191,432
Cash Flows from Financing Activities:          
Proceeds from Sponsor convertible note       5,560,000
Proceeds from promissory note       328,839 1,000,000
Preferred Stock Purchase Agreement       700,000
Redemption of shares       (51,847,295) (195,400,571)
Net cash used in financing activities       (50,818,456) (188,840,571)
Net increase in cash       (179,082) 181,305
Supplemental disclosure of noncash activities:          
Change in value of Class A subject to possible redemption       2,823,556 10,337,286
Conversion of Private Warrants to Class A ordinary shares       455,188
Capital Contribution - former Sponsor       5,897,000
Derecognition of deferred underwriting fee, net of amount recognized as a gain       (7,640,155)
Conversion of Founder Shares       (575)
Previously Reported [Member]          
Cash Flows from Operating Activities:          
Net income (loss) (9,922)   (4,405,065) (1,600)  
Cash Flows from Financing Activities:          
Cash and cash equivalents, beginning of period   170,557  
Cash, end of period 307,699 22,018 170,557
Previously Reported [Member] | PERCEPTION CAPITAL CORP IV          
Cash Flows from Financing Activities:          
Cash and cash equivalents, beginning of period   $ 43,499 $ 222,581 222,581 41,276
Cash, end of period $ 222,581     $ 43,499 $ 222,581