Idaho Copper Corp Files Annual Report
Ticker: COPR · Form: 10-K · Filed: May 15, 2024 · CIK: 1263364
Sentiment: neutral
Topics: annual-report, sec-filing, corporate-information
TL;DR
Idaho Copper Corp filed its 10-K for FY24. No major exchange listings.
AI Summary
Idaho Copper Corporation filed its annual report for the fiscal year ended January 31, 2024. The company is incorporated in Nevada and its principal executive offices are located at 800 W. Main St, Ste 1460, Boise, ID. The filing indicates that the company has no securities registered under Section 12(b) of the Securities Exchange Act of 1934 and is not a well-known seasoned issuer.
Why It Matters
This 10-K filing provides a yearly overview of Idaho Copper Corp's financial status and operations, which is crucial for investors to assess the company's performance and future prospects.
Risk Assessment
Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant new risks.
Key Players & Entities
- Idaho Copper Corporation (company) — Registrant
- January 31, 2024 (date) — Fiscal year end
- Nevada (jurisdiction) — State of incorporation
- 800 W. Main St, Ste 1460, Boise, ID 83702 (address) — Principal executive offices
- 333-108715 (file_number) — Commission File Number
- 98-0221494 (identification_number) — I.R.S. Employer Identification No.
FAQ
What is the primary business of Idaho Copper Corporation?
The provided excerpt does not detail the primary business of Idaho Copper Corporation, only its filing status and corporate information.
Does Idaho Copper Corporation have any securities listed on major stock exchanges?
No, the filing explicitly states 'N/A' for 'Title of each class', 'Trading Symbol(s)', and 'Name of each exchange on which registered' under Section 12(b) of the Act.
Has Idaho Copper Corporation filed all required reports for the preceding 12 months?
The filing indicates 'Yes' by check mark for having filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.
Is Idaho Copper Corporation considered a well-known seasoned issuer?
No, the filing indicates 'No' by check mark for being a well-known seasoned issuer.
What is the fiscal year-end date for Idaho Copper Corporation?
The fiscal year ended on January 31, 2024.
Filing Stats: 4,554 words · 18 min read · ~15 pages · Grade level 15 · Accepted 2024-05-15 15:35:12
Key Financial Figures
- $100,000 — se price for the shares paid by JHP was $100,000. Pursuant to the Purchase Agreement, ea
- $0.001 — f the Company's common stock, par value $0.001 per share (the "Common Stock"). As a re
- $0.125 — of Common Stock at an exercise price of $0.125 until December 31, 2027; and (ii) all I
- $0 — f Common Stock, at an exercise price of $0.15, until May 11, 2027. The Incentive S
- $898,000 — promissory notes in the total amount of $898,000 with a conversion price of $0.10 (the "
- $0.10 — of $898,000 with a conversion price of $0.10 (the "Notes") and 8,980,000 warrants to
- $0.15 — common stock, with an exercise price of $0.15 (the "2023 Warrants"). As a condition t
- $0.075 — tock at an adjusted conversion price of $0.075 per share of Common Stock and 11,973,33
- $1.5 billion — 000 tons per day, and thereby save over $1.5 billion in projected capital expenditures. The
- $750,000 — xpected budget for this work is roughly $750,000 and expected completion in the fourth q
- $8 million — y. The Company has tentatively budgeted $8 million for this drilling work. The Company al
- $1,000,000 — t these studies will cost approximately $1,000,000 and will take on the order of four (4)
- $25 — in, the Company has budgeted a range of $25 to $30 million to reach the PFS stage a
- $30 million — Company has budgeted a range of $25 to $30 million to reach the PFS stage and estimates th
- $12,000 — , the "Units"), for a purchase price of $12,000 per Unit, for gross proceeds of $ 1,952
Filing Documents
- form10-k.htm (10-K) — 1154KB
- ex4-1.htm (EX-4.1) — 10KB
- ex10-10.htm (EX-10.10) — 7KB
- ex10-11.htm (EX-10.11) — 8KB
- ex10-12.htm (EX-10.12) — 7KB
- ex10-13.htm (EX-10.13) — 5KB
- ex21-1.htm (EX-21.1) — 2KB
- ex31-1.htm (EX-31.1) — 16KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- form10-k_001.jpg (GRAPHIC) — 2KB
- form10-k_002.jpg (GRAPHIC) — 76KB
- form10-k_003.jpg (GRAPHIC) — 79KB
- form10-k_004.jpg (GRAPHIC) — 63KB
- form10-k_005.jpg (GRAPHIC) — 18KB
- form10-k_006.jpg (GRAPHIC) — 47KB
- audit_001.jpg (GRAPHIC) — 6KB
- aud_001.jpg (GRAPHIC) — 9KB
- ex10-10_001.jpg (GRAPHIC) — 389KB
- ex10-10_002.jpg (GRAPHIC) — 449KB
- ex10-10_003.jpg (GRAPHIC) — 389KB
- ex10-10_004.jpg (GRAPHIC) — 435KB
- ex10-10_005.jpg (GRAPHIC) — 332KB
- ex10-10_006.jpg (GRAPHIC) — 285KB
- ex10-11_001.jpg (GRAPHIC) — 396KB
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- ex10-11_003.jpg (GRAPHIC) — 406KB
- ex10-11_004.jpg (GRAPHIC) — 422KB
- ex10-11_005.jpg (GRAPHIC) — 343KB
- ex10-11_006.jpg (GRAPHIC) — 321KB
- ex10-12_001.jpg (GRAPHIC) — 395KB
- ex10-12_002.jpg (GRAPHIC) — 423KB
- ex10-12_003.jpg (GRAPHIC) — 383KB
- ex10-12_004.jpg (GRAPHIC) — 422KB
- ex10-12_005.jpg (GRAPHIC) — 432KB
- ex10-12_006.jpg (GRAPHIC) — 313KB
- ex10-12_007.jpg (GRAPHIC) — 296KB
- ex10-13_001.jpg (GRAPHIC) — 394KB
- ex10-13_002.jpg (GRAPHIC) — 467KB
- ex10-13_003.jpg (GRAPHIC) — 440KB
- ex10-13_004.jpg (GRAPHIC) — 328KB
- ex10-13_005.jpg (GRAPHIC) — 263KB
- audit_01.jpg (GRAPHIC) — 3KB
- audit_002.jpg (GRAPHIC) — 3KB
- 0001493152-24-019773.txt ( ) — 18604KB
- copr-20240131.xsd (EX-101.SCH) — 38KB
- copr-20240131_cal.xml (EX-101.CAL) — 42KB
- copr-20240131_def.xml (EX-101.DEF) — 171KB
- copr-20240131_lab.xml (EX-101.LAB) — 299KB
- copr-20240131_pre.xml (EX-101.PRE) — 242KB
- form10-k_htm.xml (XML) — 731KB
BUSINESS
ITEM 1. BUSINESS 1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 6
RISK FACTORS
ITEM 1A. RISK FACTORS 7
UNRESOLVED STAFF COMMENTS
ITEM 1B. UNRESOLVED STAFF COMMENTS 7
CYBERSECURITY
ITEM 1C. CYBERSECURITY 7
PROPERTIES
ITEM 2. PROPERTIES 7
LEGAL PROCEEDINGS
ITEM 3. LEGAL PROCEEDINGS 12
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES 12 PART II
MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 13
[RESERVED]
ITEM 6. [RESERVED] 13
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 14
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 19
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 19
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 19
CONTROLS AND PROCEDURES
ITEM 9A. CONTROLS AND PROCEDURES 19
OTHER INFORMATION
ITEM 9B. OTHER INFORMATION 21
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 21 PART III
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 21
EXECUTIVE COMPENSATION
ITEM 11. EXECUTIVE COMPENSATION 23
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 25
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 27
PRINCIPAL ACCOUNTING FEES AND SERVICES
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 28 PART IV
EXHIBITS, FINANCIAL STATEMENT SCHEDULES
ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 29
SIGNATURES
SIGNATURES 30 i PART I Item 1. BUSINESS. Overview Background Idaho Copper Corporation (formerly known as Joway Health Industries Group Inc.) (the "Company" or "Idaho Copper"), incorporated in Nevada, was initially engaged in the manufacture, distribution, and sales of tourmaline-related healthcare products through operating entities in China. As a result of the consummation of the transactions contemplated by the Merger Agreement (the "Merger Agreement"), dated as of December 31, 2020, with Dynamic Elite International Limited, a British Virgin Islands company, Crystal Globe Limited, a British Virgin Islands company, and Joway Merger Subsidiary Limited, a British Virgin Islands company, the Company no longer had any assets or business operations. Accordingly, the Company became a shell company, as that term is defined in Rule 12b-2 of the Exchange Act of 1934, as amended (the "Exchange Act"). On February 3, 2022, the Company consummated the transactions contemplated by the Stock Purchase Agreement dated as of January 31, 2022 (the "Purchase Agreement"), by and among the Company, Crystal Globe Limited and JHP Holdings, Inc., a Nevada corporation ("JHP"), pursuant to which JHJP purchased 16,644,820 shares of common stock of the Company from Crystal Globe. The shares represented 83% of the issued and outstanding shares of the Company on a fully diluted basis. The purchase price for the shares paid by JHP was $100,000. Pursuant to the Purchase Agreement, each of Crystal Globe, JHP and the Company made customary representations and warranties to each other. In connection with the acquisition of the 83% by JHP, Jinghe Zhang, the sole officer and director of the Company, resigned and Ramon Lata was appointed as the sole officer and director of the Company. On January 23, 2023, the Company entered into and consummated the transactions contemplated by a share exchange agreement (the "Share Exchange Agreement") by and among the Company, International CuMo Mini