Formation Minerals (FOMI)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	-4.88 k	-4.88 k	-4.88 k	-4.88 k	-4.88 k	-4.88 k
Cash burn (monthly)	2.86 k	17.14 k	230.89 k	185.16 k	96.37 k	8.94 k
Cash used (since last report)	17.83 k	106.82 k	1.44 mm	1.15 mm	600.49 k	55.70 k
Cash remaining	-22.71 k	-111.70 k	-1.44 mm	-1.16 mm	-605.37 k	-60.58 k
Runway (months of cash)	-7.9	-6.5	-6.3	-6.3	-6.3	-6.8

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2024

FOMI institutional ownership history Ownership history

16.4% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	3	3	–
Opened positions	0	1	EXIT
Closed positions	0	0
Increased positions	0	0
Reduced positions	0	0

13F shares	Current	Prev Q	Change
Total value	0.00	0.00
Total shares	9.26 mm	9.26 mm	–
Total puts	0.00	0.00
Total calls	0.00	0.00
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Spartan Capital Securities	5.00 mm	$0.00	0.0%
Chan Tsz King	3.76 mm	$0.00	0.0%
Sze Tang (Albert) Li	500.00 k	$0.00	0.0%

Largest transactions	Shares	Change
Sze Tang (Albert) Li	500.00 k	0.0%
Spartan Capital Securities	5.00 mm	0.0%
Chan Tsz King	3.76 mm	0.0%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

FOMI insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
4 Oct 24	Sze Tang (Albert) Li	Common Stock	Grant	Acquire A	No	No	0.04	2,501,250	100.05 k	29,385,250
4 Oct 24	Chan Tsz King	Common Stock	Grant	Acquire A	Yes	No	0.04	366,250	14.65 k	4,124,250
14 Jun 24	Scott Cox	Common Stock	Buy	Acquire P	No	No	0.068	100	6.80	121,843
13 Jun 24	Scott Cox	Common Stock	Buy	Acquire P	No	No	0.068	200	13.60	121,943
13 Jun 24	Scott Cox	Common Stock	Buy	Acquire P	No	No	0.054	200	10.80	121,743

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Press releases

From Benzinga Pro

Formation Minerals, Inc. Announces Entry Into $1,000,000 Common Stock Purchase Agreement and Corporate Update

21 Jan 25

JACKSBORO, Texas, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Formation Minerals, Inc. "Formation" or the "Company") (OTCQB:FOMI), a pure play oil and gas company based in Jacksboro, Texas, engaged in the acquisition and