Enertopia Corp. Files Amended 10-K for Fiscal Year Ended August 31, 2023

TL;DR

<b>Enertopia Corp. has filed an amended 10-K for its 2023 fiscal year, providing updated financial and operational details.</b>

AI Summary

Enertopia Corp. (ENRT) filed a Amended Annual Report (10-K/A) with the SEC on February 1, 2024. Enertopia Corp. filed an amended 10-K for the fiscal year ending August 31, 2023. The filing covers the period from September 1, 2022, to August 31, 2023. The company's previous name was Golden Aria Corp., changed on December 5, 2005. Enertopia operates in the Metal Mining industry (SIC 1000). The company is incorporated in Nevada (NV).

Why It Matters

For investors and stakeholders tracking Enertopia Corp., this filing contains several important signals. This amended filing provides crucial updated information for investors and analysts to assess Enertopia's financial health and strategic direction for the fiscal year 2023. The filing details the company's operations within the Natural Resources and Technology segments, offering insights into its business activities and potential growth areas.

Risk Assessment

Risk Level: low — Enertopia Corp. shows low risk based on this filing. The filing is an amendment to a previous 10-K, indicating potential corrections or additions to previously reported information, but does not inherently signal new risks.

Analyst Insight

Review the specific amendments in the 10-K/A filing to understand any changes in Enertopia's financial position, operational disclosures, or risk factors.

Key Numbers

• 2023-08-31 — Fiscal Year End (Conformed period of report)
• 2024-02-01 — Filing Date (As of date)
• 2005-12-05 — Name Change Date (Former company name date)

Key Players & Entities

• Enertopia Corp. (company) — Filer name
• Golden Aria Corp. (company) — Former company name
• NV (location) — State of incorporation
• newsfilecorp.com (company) — Filing source

Forward-Looking Statements

• Enertopia Corp. will continue to provide more detailed segment reporting in future filings. (Enertopia Corp.) — medium confidence, target: 2025-08-31

FAQ

Industry Context

Enertopia Corp. operates within the Metal Mining industry, specifically focusing on natural resources and technology segments.

Regulatory Implications

The filing is a 10-K/A (Amended Annual Report) under the Securities Exchange Act of 1934, requiring comprehensive disclosure of financial and operational information.

What Investors Should Do

1. Analyze the specific changes and additions made in the amended 10-K filing.
2. Evaluate Enertopia's performance and disclosures for the fiscal year ending August 31, 2023.
3. Research the company's business segments (Natural Resources and Technology) for potential investment insights.

Year-Over-Year Comparison

This is an amended filing (10-K/A), indicating updates or corrections to previously submitted information for the fiscal year ending August 31, 2023.

Key Financial Figures

• $0.051 — 47, 611,088] was $ 7,528,155 based on a $0.051 closing price for the Common Stock on F
• $0.08 — a consultant of the Company for 5yrs at $0.08 per common share. On December 6, 2021
• $0.07 — f the Company with an exercise price of $0.07 vested immediately, expiring December 6
• $1,100,000 — o Cypress Development (Nevada) Inc. for $1,100,000 cash with a deposit of $50,000 being pa
• $50,000 b — . for $1,100,000 cash with a deposit of $50,000 being paid on signing and the issuance of
• $0.04 — the Company issued 1,000,000 shares at $0.04 to one consultant of the Company and $2
• $2,500 — 04 to one consultant of the Company and $2,500 cash. 4 On February 25, 2022, the C
• $1,050,000 — ley property and received the remaining $1,050,000 in cash and the issuance of 3,000,000 s
• $0.06 — f the Company with an exercise price of $0.06 vested immediately, expiring August 18,
• $11,489 — ommon shares to Eagle Plains, valued at $11,489. On December 13 th 2019 the Company d
• $200,000 — n Valley, Nevada claims in exchange for $200,000. The Company has a right of first refus
• $1,000 — dvisory Board. Monthly contract rate of $1,000 per month and the issuance of 2,000,000
• $0.02 — alid for two years at a strike price of $0.02 per share. On April 2, 2020 the Compa
• $250,000 — n Valley, Nevada claims in exchange for $250,000. The Company has a right of first refus
• $14,520 — spective yearly holding fees to the BLM $14,520 and $1,068 to Esmeralda County NV. En

Filing Documents

• form10ka.htm (10-K/A) — 1249KB
• exhibit31-1.htm (EX-31.1) — 5KB
• exhibit31-2.htm (EX-31.2) — 5KB
• exhibit32-1.htm (EX-32.1) — 3KB
• exhibit32-2.htm (EX-32.2) — 3KB
• form10kaxu003.jpg (GRAPHIC) — 132KB
• form10kaxu004.jpg (GRAPHIC) — 95KB
• form10kaxz003.jpg (GRAPHIC) — 10KB
• form10kaxz004.jpg (GRAPHIC) — 10KB
• 0001062993-24-001715.txt (&nbsp;) — 6801KB
• enrt-20230831.xsd (EX-101.SCH) — 103KB
• enrt-20230831_cal.xml (EX-101.CAL) — 35KB
• enrt-20230831_def.xml (EX-101.DEF) — 118KB
• enrt-20230831_lab.xml (EX-101.LAB) — 996KB
• enrt-20230831_pre.xml (EX-101.PRE) — 267KB
• form10ka_htm.xml (XML) — 783KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 12 Item 2.

Properties

Properties 12 Item 3.

Legal Proceedings

Legal Proceedings 19 Item 4. (Removed and Reserved). 19 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6.

Selected Financial Data

Selected Financial Data 21 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 8. Consolidated Financial Statements and Supplementary Data 26 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 41 Item 9A.

Controls and Procedures

Controls and Procedures 41 Item 9B. Other Information 42 Item 10. Directors, Executive Officers and Corporate Governance 42 Item 11.

Executive Compensation

Executive Compensation 45 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48 Item 13. Certain Relationships and Related Transactions, and Director Independence 49 Item 14. Principal Accounting Fees and Services 49 Item 15. Exhibits, Financial Statement Schedules 51 PART I

Business

Item 1. Business This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors" that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. Our consolidated financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. In this annual report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares in our capital stock. As used in this annual report and unless otherwise indicated, the terms "we", "us", "our", "our Company, "the Company", and "Enertopia" mean Enertopia Corp. General Overview Enertopia Corp. was formed on November 24, 2004 under the laws of the State of Nevada and commenced operations on November 24, 2004. Enertopia is focused on building shareholder value through a combination of our Ne

Risk Factors

Item 1A. Risk Factors Our business operations are subject to a number of risks and uncertainties, including, but not limited to those set forth below: Risks Associated with Our Business Our company has no operating history and an evolving business model. Which raises doubt about our ability to achieve profitability or obtain financing. Our Company has no operating history. Moreover, our business model is still evolving, subject to change, and will rely on the cooperation and participation of our joint venture partners. Our Company's ability to continue as a going concern is dependent upon our ability to obtain adequate financing and to reach profitable levels of operations has and we no proven history of performance, earnings or success. There can be no assurance that we will achieve profitability or obtain future financing. Uncertain demand for mineral resources sector may cause our business plan to be unprofitable. Demand for mineral resources is based on the world economy and new technologies. Current lithium demand exceeds available supply due to the rapid increase in lithium batteries in portable electronics and the growing electric vehicle markets. There can be no assurance that current supply and demand factors will remain the same or that projected supply and demand factors will actually come to pass from 3 rd party projections that are currently believed to be true and accurate. There can be no assurance that new disruptive technologies will replace lithium as a significant component in battery storage over time. Conflicts of interest between our company and our directors and officers may result in a loss of business opportunity. Our directors and officers are not obligated to commit their full time and attention to our business and, accordingly, they may encounter a conflict of interest in allocating their time between our future operations and those of other businesses. In the course of their other business activities, they may become awar

View Full Filing

View this 10-K/A filing on SEC EDGAR