Enertopia Corp. Files 2024 10-K

Ticker: ENRT · Form: 10-K · Filed: Nov 25, 2024 · CIK: 1346022

Sentiment: neutral

Topics: 10-K, metal-mining, financials

TL;DR

Enertopia filed its 2024 10-K, check financials for metal mining ops.

AI Summary

Enertopia Corp. filed its 10-K for the fiscal year ending August 31, 2024, reporting on its operations in metal mining. The company, formerly known as Golden Aria Corp. until December 5, 2005, is incorporated in Nevada and headquartered in Kelowna, BC. The filing details financial information for the periods ending August 31, 2024, 2023, and 2022.

Why It Matters

This filing provides investors with a comprehensive overview of Enertopia Corp.'s financial health and operational status for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a metal mining company, Enertopia is subject to significant market volatility, regulatory changes, and operational risks inherent in the industry.

Key Numbers

Key Players & Entities

FAQ

What is Enertopia Corp.'s primary business activity?

Enertopia Corp. is engaged in metal mining, as indicated by its Standard Industrial Classification code [1000].

When did Enertopia Corp. change its name from Golden Aria Corp.?

The company changed its name from Golden Aria Corp. on December 5, 2005.

What is the reporting period for this 10-K filing?

The 10-K filing is for the fiscal year ending August 31, 2024.

In which state is Enertopia Corp. incorporated?

Enertopia Corp. is incorporated in Nevada (NV).

What is Enertopia Corp.'s business address?

Enertopia Corp.'s business address is #18, 1873 Spall Road, Kelowna, BC, V1Y 4R2.

Filing Stats: 4,710 words · 19 min read · ~16 pages · Grade level 13.3 · Accepted 2024-11-22 18:18:57

Key Financial Figures

Filing Documents

Risk Factors 8

Item 1A. Risk Factors 8

Unresolved Staff Comments 13

Item 1B. Unresolved Staff Comments 13

Cybersecurity 13

Item 1C. Cybersecurity 13

Properties 14

Item 2. Properties 14

Legal Proceedings 22

Item 3. Legal Proceedings 22

(Removed and Reserved). 22

Item 4. (Removed and Reserved). 22

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23

Selected Financial Data 25

Item 6. Selected Financial Data 25

Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk 29

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 29

Consolidated Financial Statements and Supplementary Data 30

Item 8. Consolidated Financial Statements and Supplementary Data 30

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 45

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 45

Controls and Procedures 45

Item 9A. Controls and Procedures 45

Other Information 46

Item 9B. Other Information 46

Directors, Executive Officers and Corporate Governance 47

Item 10. Directors, Executive Officers and Corporate Governance 47

Executive Compensation 50

Item 11. Executive Compensation 50

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54

Certain Relationships and Related Transactions, and Director Independence 54

Item 13. Certain Relationships and Related Transactions, and Director Independence 54

Principal Accounting Fees and Services 55

Item 14. Principal Accounting Fees and Services 55

Exhibits, Financial Statement Schedules 57

Item 15. Exhibits, Financial Statement Schedules 57 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

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