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Accrued Expenses
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses

NOTE 10 – ACCRUED EXPENSES

Accrued expenses consisted of the following:

 

 

As of December 31,

 

 

2024

 

 

2023

 

Compensation and incentives

 

$

2,400

 

 

$

5,239

 

Professional services

 

 

395,476

 

 

 

296,332

 

Deposits

 

 

450,000

 

 

 

450,000

 

Accrued Interest

 

 

1,022,272

 

 

 

912,915

 

Exploration license fees

 

 

6,764,428

 

 

 

6,828,872

 

Total accrued expenses

 

$

8,634,576

 

 

$

8,493,358

 

Deposits consist of an earnest money deposit of $0.5 million from CIC. The earnest money deposit relates to a draft agreement related to potential sale of a stake of our equity in CIC. This transaction has not yet been agreed upon or consummated.