Astra Energy Files 10-Q: Assets $74.76M, Liabilities $72.81M

TL;DR

Astra Energy 10-Q: Assets $74.76M, Liabilities $72.81M, Net Loss $0.001M. Tight margins.

AI Summary

Astra Energy, Inc. filed a 10-Q for the period ending November 30, 2024. The company reported total assets of $74.76 million and total liabilities of $72.81 million. Net revenue for the period was not explicitly stated, but the filing indicates a net loss of $0.001 million.

Why It Matters

This filing provides a snapshot of Astra Energy's financial health, showing a tight balance between assets and liabilities, with a small net loss for the quarter.

Risk Assessment

Risk Level: medium — The company has a significant amount of liabilities relative to its assets, indicating potential financial strain.

Key Numbers

• $74.76M — Total Assets (Financial position as of November 30, 2024)
• $72.81M — Total Liabilities (Financial position as of November 30, 2024)
• $0.001M — Net Loss (For the period ending November 30, 2024)

Key Players & Entities

• Astra Energy, Inc. (company) — Filer of the 10-Q
• 2024-11-30 (date) — End of reporting period
• $74.76 million (dollar_amount) — Total assets
• $72.81 million (dollar_amount) — Total liabilities
• $0.001 million (dollar_amount) — Net loss

FAQ

Filing Documents

• asre_10q.htm (10-Q) — 585KB
• asre_ex311.htm (EX-31.1) — 13KB
• asre_ex312.htm (EX-31.2) — 11KB
• asre_ex321.htm (EX-32.1) — 4KB
• asre_ex322.htm (EX-32.2) — 4KB
• 0001477932-25-000228.txt ( ) — 3301KB
• asre-20241130.xsd (EX-101.SCH) — 41KB
• asre-20241130_lab.xml (EX-101.LAB) — 220KB
• asre-20241130_cal.xml (EX-101.CAL) — 39KB
• asre-20241130_pre.xml (EX-101.PRE) — 193KB
• asre-20241130_def.xml (EX-101.DEF) — 121KB
• asre_10q_htm.xml (XML) — 368KB

Financial Statements (unaudited)

Financial Statements (unaudited) F-1 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 3 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 7 ITEM 4.

Controls and Procedures

Controls and Procedures 7 PART II OTHER INFORMATION 8 ITEM 1.

Legal Proceedings

Legal Proceedings 8 ITEM 1A.

Risk Factors

Risk Factors 8 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 8 ITEM 3. Defaults Upon Senior Securities 8 ITEM 4. Mine Safety Disclosures 8 ITEM 5. Other Information 8 ITEM 6. Exhibits 9

SIGNATURES

SIGNATURES 10 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ASTRA ENERGY INC. INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets as of November 30, 2024 (unaudited) and August 31, 2024 F-2 Condensed Consolidated Statements of Operations for the Three Months ended November 30, 2024 and 2023 (unaudited) F-3 Condensed Consolidated Statements of Stockholders' Equity for the Three Months ended November 30, 2024 and 2023 (unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the Three Months ended November 30, 2024 and 2023 (unaudited) F-5 Notes to the Condensed Consolidated Financial Statements (unaudited) F-6 F-1 Table of Contents ASTRA ENERGY INC. CONDENSED CONSOLIDATED BALANCE SHEETS November 30, 2024 August 31, 2024 ASSETS (Unaudited) (Audited) Current assets: Cash $ 3,294 $ 23,012 Accounts receivable 240,020 240,020 Accounts receivable – related party 230,209 235,209 Other current assets 47,307 35,907 Prepaid loan fee 2,465,200 2,465,200 Total current assets 2,986,030 2,999,348 License, net of amortization (Note 5) 1,574,872 1,597,849 Investment (Note 6) 2,725,000 2,725,000 Automobile, net of depreciation 18,528 19,564 Operating leases, right of use assets (Note 7) 4,691,010 4,691,010 Total Assets $ 11,995,440 $ 12,032,771 LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 1,086,210 $ 965,298 Accounts payable - related parties (Note 8) 594,437 507,565 Refundable deposits 915,000 915,000 Accrued interest payable 2,047,334 1,882,842 Notes payable - (Note 9) 200,000 200,000 Note payable - related party (Note 9) 2,710,500 2,510,500 Operating lease liability – current portion 128,519 128,519 Total current liabilities 7,682,000 7,109,724 Operating lease liability – net of current portion (Note 7) 4,562,492 4,562,492 Total Liabilities 12,244,492 11,672,216 Commitments an

Executive compensation

Executive compensation 115,750 79,500 Stock compensation-consulting 5,500 34,375 Total operating expenses 464,360 307,355 Loss from operations ( 464,360 ) ( 307,355 ) Other expense: Foreign exchange ( 4 ) ( 5,733 ) Interest expense ( 164,493 ) ( 2,703 ) Total other expense ( 164,497 ) ( 8,436 ) Loss before income taxes ( 628,857 ) ( 315,791 ) Provision for income taxes - - Net Loss $ ( 628,857 ) $ ( 315,791 ) Net loss per share, basic and diluted $ ( 0.01 ) $ ( 0.004 ) Weighted average common shares outstanding, basic and diluted 74,696,096 68,109,600 The accompanying notes are an integral part of these unaudited consolidated financial statements. F-3 Table of Contents ASTRA ENERGY INC. CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE THREE MONTHS ENDED NOVEMBER 30, 2024 AND 2023 (Unaudited) Series A Preferred Series A1 Preferred Series B Preferred Series C Preferred Series D Preferred Common Stock Common Stock to Be Stock Subscription Additional Paid-In Accumulated Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Issued Receivable Capital Deficit Total Balance, August 31, 2024 7,774 $ 8 1 $ — 207 $ — 747,870 $ 748 304,558 $ 305 72,810,382 $ 72,810 $ 355,465 $ ( 5,000 ) $ 56,078,966 $ ( 56,142,747 ) 360,555 Common stock issued for services — — — — — — — — — — 1,425,000 1,425 ( 257,465 ) — 275,290 — 19,250 Common stock issued for services – related party — — — — — — — — — — 525,000 525 ( 78,750 ) — 78,225 — — Net loss — — — — — — — — — — — — — — — ( 628,857 ) ( 628,857 ) Balance, November 30, 2024 7,774 $ 8 1 $ — 207 $ — 747,870 $ 748 304,558 $ 305 74,760,382 $ 74,760 $ 19,250 $ ( 5,000 ) $ 56,432,481

View Full Filing

View this 10-Q filing on SEC EDGAR