Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Apr. 30, 2023 | Jun. 06, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Apr. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 333-146934 | |
Entity Registrant Name | NORTHERN MINERALS & EXPLORATION LTD. | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 98-0557171 | |
Entity Address, Address Line One | 881 West State Road | |
Entity Address, City or Town | Pleasant Grove | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84062 | |
City Area Code | 801 | |
Local Phone Number | 885-9260 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 87,509,357 | |
Entity Central Index Key | 0001415744 | |
Current Fiscal Year End Date | --07-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Apr. 30, 2023 | Jul. 31, 2022 |
Current Assets: | ||
Cash | $ 6,288 | $ 25,813 |
Total Current Assets | 6,288 | 25,813 |
TOTAL ASSETS | 6,288 | 25,813 |
Current Liabilities: | ||
Accrued liabilities | 310,168 | 305,413 |
Advance payable – related party | 79,000 | 79,000 |
Total Current Liabilities | 474,032 | 461,177 |
TOTAL LIABILITIES | 474,032 | 461,177 |
Commitments and Contingencies | ||
Stockholders’ Deficit: | ||
Preferred stock, $0.001 par value, 50,000,000 shares authorized; no shares issued | 0 | 0 |
Common stock, $0.001 par value, 250,000,000 shares authorized; 82,509,357 shares issued, 82,509,357 shares outstanding as of April 30, 2023 and July 31, 2022 | 82,509 | 82,509 |
Common stock to be issued | 90,000 | 0 |
Additional paid-in-capital | 2,873,468 | 2,873,468 |
Accumulated deficit | (3,513,721) | (3,391,341) |
Total Stockholders’ Deficit | (467,744) | (435,364) |
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT | 6,288 | 25,813 |
Nonrelated Party [Member] | ||
Current Liabilities: | ||
Accounts payable | 58,364 | 48,364 |
Related Party [Member] | ||
Current Liabilities: | ||
Accounts payable | $ 26,500 | $ 28,400 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Apr. 30, 2023 | Jul. 31, 2022 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized (in shares) | 250,000,000 | 250,000,000 |
Common Stock, Shares, Issued (in shares) | 82,509,357 | 82,509,357 |
Common Stock, Shares, Outstanding (in shares) | 82,509,357 | 82,509,357 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ / shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | |
Operating expenses: | ||||
Officer compensation | $ 6,600 | $ 6,600 | $ 19,800 | $ 19,800 |
Consulting – related party | 18,000 | 15,000 | 54,000 | 50,000 |
Professional fees | 10,000 | 5,220 | 26,500 | 30,615 |
General and administrative expenses | 7,568 | 4,452 | 19,271 | 19,924 |
Total operating expenses | 42,168 | 31,272 | 119,571 | 120,339 |
Loss from operations | (42,168) | (31,272) | (119,571) | (120,339) |
Other income (expense): | ||||
Interest expense | (1,585) | (1,585) | (4,755) | (13,961) |
Other income | 0 | 0 | 1,946 | 2,287 |
Gain on forgiveness of debt | 0 | 0 | 0 | 17,167 |
Total other income (expense) | (1,585) | (1,585) | (2,809) | 5,493 |
Loss before provision for income taxes | (43,753) | (32,857) | (122,380) | (114,846) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net Loss | $ (43,753) | $ (32,857) | $ (122,380) | $ (114,846) |
Net loss per share, basic and diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding, basic and diluted (in shares) | 82,509,357 | 80,135,673 | 82,509,357 | 77,063,822 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] Nonrelated Party [Member] | Common Stock [Member] Related Party [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] Nonrelated Party [Member] | Additional Paid-in Capital [Member] Related Party [Member] | Additional Paid-in Capital [Member] | Common Stock to be Issued [Member] Nonrelated Party [Member] | Common Stock to be Issued [Member] Related Party [Member] | Common Stock to be Issued [Member] | Retained Earnings [Member] Nonrelated Party [Member] | Retained Earnings [Member] Related Party [Member] | Retained Earnings [Member] | Retained Earnings, Appropriated [Member] | Nonrelated Party [Member] | Related Party [Member] | Total |
Balance (in shares) at Jul. 31, 2021 | 72,818,338 | |||||||||||||||
Balance at Jul. 31, 2021 | $ 72,819 | $ 2,555,016 | $ 18,000 | $ (3,242,058) | $ (596,223) | |||||||||||
Common stock issued for cash (in shares) | 50,000 | 2,700,000 | ||||||||||||||
Common stock issued for cash | $ 50 | $ 2,700 | $ 4,950 | $ 78,300 | $ 0 | $ (18,000) | $ 0 | $ 0 | $ 5,000 | $ 63,000 | ||||||
Common stock issued for conversion of debt and accrued interest (in shares) | 484,000 | |||||||||||||||
Common stock issued for conversion of debt and accrued interest | $ 484 | 47,916 | 0 | 0 | 48,400 | |||||||||||
Net loss | $ 0 | 0 | 0 | (53,481) | (53,481) | |||||||||||
Balance (in shares) at Oct. 31, 2021 | 76,052,338 | |||||||||||||||
Balance at Oct. 31, 2021 | $ 76,053 | 2,686,182 | 0 | (3,295,539) | (533,304) | |||||||||||
Balance (in shares) at Jul. 31, 2021 | 72,818,338 | |||||||||||||||
Balance at Jul. 31, 2021 | $ 72,819 | 2,555,016 | 18,000 | (3,242,058) | (596,223) | |||||||||||
Net loss | (114,846) | |||||||||||||||
Balance (in shares) at Apr. 30, 2022 | 80,135,673 | |||||||||||||||
Balance at Apr. 30, 2022 | $ 80,136 | 2,806,666 | 5,000 | (3,356,904) | (465,102) | |||||||||||
Balance (in shares) at Oct. 31, 2021 | 76,052,338 | |||||||||||||||
Balance at Oct. 31, 2021 | $ 76,053 | 2,686,182 | 0 | (3,295,539) | (533,304) | |||||||||||
Common stock issued for cash (in shares) | 250,000 | 2,000,000 | ||||||||||||||
Common stock issued for cash | $ 250 | $ 2,000 | 7,250 | 58,000 | 25,050 | 0 | 0 | 0 | 32,550 | 60,000 | ||||||
Common stock issued for conversion of debt and accrued interest (in shares) | 0 | |||||||||||||||
Common stock issued for conversion of debt and accrued interest | $ 0 | 0 | 31,917 | 0 | 31,917 | |||||||||||
Net loss | 0 | 0 | 0 | (28,508) | (28,508) | |||||||||||
Contributed capital | $ 0 | 100 | 0 | 0 | 100 | |||||||||||
Balance (in shares) at Jan. 31, 2022 | 78,302,338 | |||||||||||||||
Balance at Jan. 31, 2022 | $ 78,303 | 2,751,532 | 56,967 | (3,324,047) | (437,245) | |||||||||||
Common stock issued for cash (in shares) | 833,335 | |||||||||||||||
Common stock issued for cash | $ 833 | 24,217 | (20,050) | 0 | 5,000 | |||||||||||
Common stock issued for conversion of debt and accrued interest (in shares) | 1,000,000 | |||||||||||||||
Common stock issued for conversion of debt and accrued interest | $ 1,000 | 30,917 | (31,917) | 0 | 0 | |||||||||||
Net loss | $ 0 | 0 | 0 | $ (32,857) | (32,857) | |||||||||||
Balance (in shares) at Apr. 30, 2022 | 80,135,673 | |||||||||||||||
Balance at Apr. 30, 2022 | $ 80,136 | 2,806,666 | 5,000 | (3,356,904) | (465,102) | |||||||||||
Balance (in shares) at Jul. 31, 2022 | 82,509,357 | |||||||||||||||
Balance at Jul. 31, 2022 | $ 82,509 | 2,873,468 | 0 | (3,391,341) | (435,364) | |||||||||||
Net loss | $ 0 | 0 | 0 | (51,756) | (51,756) | |||||||||||
Balance (in shares) at Oct. 31, 2022 | 82,509,357 | |||||||||||||||
Balance at Oct. 31, 2022 | $ 82,509 | 2,873,468 | 0 | (3,443,097) | (487,120) | |||||||||||
Balance (in shares) at Jul. 31, 2022 | 82,509,357 | |||||||||||||||
Balance at Jul. 31, 2022 | $ 82,509 | 2,873,468 | $ 0 | (3,391,341) | (435,364) | |||||||||||
Common stock issued for cash (in shares) | 4,000,000 | |||||||||||||||
Common stock issued for cash | $ 80,000 | |||||||||||||||
Net loss | (122,380) | |||||||||||||||
Balance (in shares) at Apr. 30, 2023 | 82,509,357 | |||||||||||||||
Balance at Apr. 30, 2023 | $ 82,509 | 2,873,468 | 90,000 | (3,513,721) | (467,744) | |||||||||||
Balance (in shares) at Oct. 31, 2022 | 82,509,357 | |||||||||||||||
Balance at Oct. 31, 2022 | $ 82,509 | 2,873,468 | 0 | (3,443,097) | (487,120) | |||||||||||
Common stock issued for cash (in shares) | 0 | 0 | ||||||||||||||
Common stock issued for cash | $ 0 | $ 0 | $ 0 | $ 0 | $ 40,000 | $ 10,000 | $ 0 | $ 0 | $ 40,000 | $ 10,000 | ||||||
Net loss | $ 0 | 0 | 0 | (26,871) | (26,871) | |||||||||||
Balance (in shares) at Jan. 31, 2023 | 82,509,357 | |||||||||||||||
Balance at Jan. 31, 2023 | $ 82,509 | 2,873,468 | 50,000 | (3,469,968) | (463,991) | |||||||||||
Common stock issued for cash (in shares) | 0 | |||||||||||||||
Common stock issued for cash | $ 0 | 0 | 40,000 | 0 | 40,000 | |||||||||||
Net loss | $ 0 | 0 | 0 | (43,753) | (43,753) | |||||||||||
Balance (in shares) at Apr. 30, 2023 | 82,509,357 | |||||||||||||||
Balance at Apr. 30, 2023 | $ 82,509 | $ 2,873,468 | $ 90,000 | $ (3,513,721) | $ (467,744) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (122,380) | $ (114,846) |
Adjustments to reconcile net loss to net cash used in Operating activities: | ||
Gain on forgiveness of debt | 0 | (17,167) |
Changes in Operating Assets and Liabilities: | ||
Accrued liabilities | 4,755 | 13,961 |
Net cash used in operating activities | (109,525) | (132,541) |
Cash Flows used in Investing Activities: | 0 | 0 |
Cash Flows from Financing Activities: | ||
Proceeds from loan payable | 0 | 5,000 |
Proceeds from loan payable – related party | 5,000 | 0 |
Repayment of loan payable | (5,000) | 0 |
Repayment of loan payable | 0 | 15,000 |
Net cash provided by financing activities | 90,000 | 155,550 |
Net change in cash | (19,525) | 23,009 |
Cash at beginning of the period | 25,813 | 967 |
Cash at end of the period | 6,288 | 23,976 |
Cash paid during the period for: | ||
Interest | 0 | 0 |
Taxes | 0 | 0 |
Conversion of Debt and Accrued Interest [Member] | ||
Supplemental disclosure of non-cash activity: | ||
Conversion of debt and accrued interest | 0 | 80,317 |
Nonrelated Party [Member] | ||
Changes in Operating Assets and Liabilities: | ||
Accounts payables and accrued liabilities | 10,000 | (9,189) |
Cash Flows from Financing Activities: | ||
Proceeds from the sale of common stock | 80,000 | 165,550 |
Related Party [Member] | ||
Changes in Operating Assets and Liabilities: | ||
Accounts payables and accrued liabilities | (1,900) | (5,300) |
Cash Flows from Financing Activities: | ||
Proceeds from the sale of common stock | $ 10,000 | $ 0 |
Note 1 - Organization and Busin
Note 1 - Organization and Business Operations | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 ORGANIZATION AND BUSINESS OPERATIONS Northern Minerals & Exploration Ltd. (the “Company”) is an emerging natural resource company operating in oil and gas production in central Texas and exploration for gold and silver in northern Nevada. The Company was incorporated in Nevada on December 11, 2006 under the name Punchline Entertainment, Inc. On August 22, 2012, the Company’s board of directors approved an agreement and plan of merger to effect a name change of the Company from Punchline Entertainment, Inc. to Punchline Resources Ltd. On July 12, 2013, the stockholders approved an amendment to change the name of the Company from Punchline Resources Ltd. to Northern Mineral & Exploration Ltd. FINRA approved the name change on August 13, 2013. On November 22, 2017, the Company created a wholly owned subsidiary, Kathis Energy LLC (“Kathis”) for the purpose of conducting oil and gas drilling programs in Texas. On December 14, 2017, Kathis Energy, LLC and other Limited Partners, created Kathis Energy Fund 1, LP, a limited partnership created for raising investor funds. On May 7, 2018, the Company created ENMEX LLC, a wholly owned subsidiary in Mexico, for the purposes of managing and operating its investments in Mexico including but not limited to the Joint Venture opportunity being negotiated with Pemer Bacalar on the 61 acres on the Bacalar Lagoon on the Yucatan Peninsula. There was no activity from inception to date. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending July 31, 2023. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Cash and Cash Equivalents The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less as cash and cash equivalents. The carrying amount of financial instruments included in cash and cash equivalents approximates fair value because of the short maturities for the instruments held. The Company had no cash equivalents as of April 30, 2023 and July 31, 2022. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Kathis Energy LLC, Kathis Energy Fund 1, LLP and Enmex Operations LLC. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. Mineral Property Acquisition and Exploration Costs Mineral property acquisition and exploration costs are expensed as incurred until such time as economic reserves are quantified. Cost of lease, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. We have chosen to expense all mineral exploration costs as incurred given that it is still in the exploration stage. Once our company has identified proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it would enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs will be amortized over the estimated life of the probable-proven reserves. When our company has capitalized mineral properties, these properties will be periodically assessed for impairment of value and any diminution in value. Oil and Gas Properties The Company follows the successful efforts method of accounting for its oil and gas properties. Under this method of accounting, all property acquisition costs and costs of exploratory and development wells are capitalized when incurred, pending determination of whether the well found proved reserves. If an exploratory well does not find proved reserves, the costs of drilling the well are charged to expense. The costs of development wells are capitalized whether those wells are successful or unsuccessful. Other exploration costs, including certain geological and geophysical expenses and delay rentals for oil and gas leases, are charged to expense as incurred. Maintenance and repairs are charged to expense, and renewals and betterments are capitalized to the appropriate property and equipment accounts. Depletion and amortization of oil and gas properties are computed on a well-by-well basis using the units-of-production method. Although the Company has recognized minimal levels of production and revenue in the past, none of its property have proved reserves. Therefore, the Company’s properties are designated as unproved properties. Unproved property costs are not subject to amortization and consist primarily of leasehold costs related to unproved areas. Unproved property costs are transferred to proved properties if the properties are subsequently determined to be productive and are assigned proved reserves. Proceeds from sales of partial interest in unproved leases are accounted for as a recovery of cost without recognizing any gain until all cost is recovered. Unproved properties are assessed periodically for impairment based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage. Asset Retirement Obligation Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations (“ASC 410”) requires an entity to recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred. The net estimated costs are discounted to present values using credit-adjusted, risk-free rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the equivalent unit-of-production method based upon estimates of proved oil and natural gas reserves. The liability is periodically adjusted to reflect (1) new liabilities incurred, (2) liabilities settled during the period, (3) accretion expense and (4) revisions to estimated future cash flow requirements. To date, the Company has very few operating wells. Currently, the Company has one working well. Because there is only one active well on the Ritchie Lease with a 24% working interest, the Company estimates the asset retirement obligation to be trivial and has not recorded an ARO liability. Basic and Diluted Earnings Per Share Net income (loss) per common share is computed pursuant to ASC 260-10-45, Earnings per Share Overall Other Presentation Matters For the nine months ended April 30, 2023, the Company had no Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Note 3 - Going Concern
Note 3 - Going Concern | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN The accompanying unaudited financial statements are prepared and presented on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, they do not include any adjustments relating to the realization of the carrying value of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Since inception to April 30, 2023, the Company has an accumulated deficit of $3,513,721. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Note 4 - Winnemucca Mountain Pr
Note 4 - Winnemucca Mountain Property | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Business Combinations Policy [Policy Text Block] | NOTE 4 WINNEMUCCA MOUNTAIN PROPERTY On September 14, 2012, we entered into an option agreement with AHL Holdings Ltd., and Golden Sands Exploration Inc. (“Optionors”), wherein we acquired an option to purchase an 80% interest in and to certain mining claims, which claims form the Winnemucca Mountain Property in Humboldt County, Nevada (“Property”). This property currently is comprised of 138 unpatented mining claims covering approximately 2,700 acres. On July 23, 2018, the Company entered into a New Option Agreement with the Optionors. This agreement provided for the payment of $25,000 and the issuance of 3,000,000 shares of the Company’s common stock and work commitments. The Company issued the shares and made the initial payment of $25,000 per the terms of the July 31, 2018 agreement. The second payment of $25,000 per the terms of the agreement was not paid when it became due on August 31, 2018, causing the Company to default on the terms of the July 23, 2018 agreement. On March 25, 2019 the Company entered into a New Option Agreement with the Optionors. As stated in the New Option Agreement the Company has agreed to certain terms and conditions to have the right to earn an 80% interest in the Property, these terms include cash payments, issuance of common shares of the Company and work commitments. The Company’s firm commitments per the March 25, 2019, option agreement total $381,770 of which cash payments total $181,770 and a firm work commitment of $200,000. These commitments include payments for rentals payable to BLM and also for the staking of new claims adjoining the existing claims. The work commitment was to be conducted prior to December 31, 2020. During the year ended July 31, 2021, the Company received notice from the Optionors of the current amount due resulting in the reduction of the liability to $285,453. As of April 30, 2023 and July 31, 2022, the Company has accounted for $285,453 and $285,453, respectively, in its accrued liabilities. The Company has received notice from the Optionors, effective October 27, 2020, that its Option Agreement to earn an interest in the Winnemucca Mountain Gold Property has been terminated for being in default of certain terms and conditions of the Agreement. Management is in discussions with the principals of the Winnemucca property to resolve any outstanding obligations. A settlement agreement was executed on June 1, 2023. Refer to Note 9. |
Note 5 - Loans Payable
Note 5 - Loans Payable | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5 LOANS PAYABLE On April 16, 2017, the Company executed a promissory note for $15,000 with a third party. The note matures in two years and interest is set at $3,000 for the full two years. As of April 30, 2023, there is $15,000 and $7,500 of principal and accrued interest, respectively, due on this loan. As of July 31, 2022, there was $15,000 and $6,375 of principal and accrued interest, respectively, due on this loan. This loan is currently in default. On June 11, 2020, a third party loaned the Company $14,000. On March 3, 2021, the party loaned another $5,000 to the Company. During the year ended July 31, 2022, the Company repaid $15,000 of the loan. The loan is unsecured, non-interest bearing and due on demand. As of April 30, 2023, there is a balance due of $4,000. During the year ended July 31, 2020, a third party loaned the Company $60,000. The loan is unsecured, bears interest at 8% per annum and matures on September 1, 2021. As of April 30, 2023, there is $17,215 of interest accrued on this note. This note is in default. |
Note 6 - Common Stock Transacti
Note 6 - Common Stock Transaction | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | NOTE 6 COMMON STOCK TRANSACTION During the nine months ended April 30, 2023, the Company sold 4,000,000 shares of common stock for total cash proceeds of $80,000. As of April 30, 2023, the shares have not yet been issued by the transfer agent and are disclosed as common stock to be issued. Refer to Note 8 for shares sold to a related party. |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 7 COMMITMENTS AND CONTINGENCIES On April 13, 2021, the Company entered into an agreement with Foster S. Zeiders, one of the owners of the Calihoma Partners LLC (“Fosters’). Per the terms of the agreement Foster is willing to transfer to NMEX Natural Gas LLC, (a subsidiary of the Company still to be created), all of his interest, including but not limited to a 35% back-in after payout interest in Calihoma Partners LLC which has 60% ownership in West Lenapah Project including the assets and project definition as described in the agreement. Foster hereby agrees to transfer one hundred (100%) percent of his membership interests in Calihoma Partners LLC, in exchange for 5,000,000 shares of common stock to be issued to him and an additional 5,000,000 shares to be issued pursuant to a specified timeframe. During the initial period of this Agreement if either party hereto for reasonable cause determines that membership interests in Calihoma Partners LLC should no longer be held by NMEX Natural Gas LLC. Foster shall exchange his shares in Northern for the membership interests in NMEX Natural Gas LLC, and Northern will convey such membership interests to Foster in exchange for his stock in Northern, and NMEX Natural Gas LLC shall become wholly owned by Foster. Foster shall serve as Manager of NMEX Natural Gas LLC until Northern determines to convey the interest in Calihoma Partners or one year whichever is shorter. As of April 30, 2023, the initial 5,000,000 shares of common stock have been issued but are being held by the transfer agent pending final confirmation that the agreement is finalized. |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 8 RELATED PARTY TRANSACTIONS For the nine months ended April 30, 2023 and 2022, total payments of $54,000 and $50,000, respectively, were made to Noel Schaefer, a Director of the Company, for consulting services. As of April 30, 2023, and July 31, 2022, there is $26,500 and $26,500 credited to accounts payable. As of April 30, 2023 and July 31, 2022, there is $0 and $1,900, respectively, credited to accounts payable for amounts due to Rachel Boulds, CFO, for consulting services. On January 9, 2023, Ivan Webb, CEO, advanced the Company $5,000. The advance was intended as a short term, non-interest bearing and due on demand. The advance was repaid on March 13, 2023. During the nine months ended April 30, 2023, Mr. Webb purchased 500,000 shares of common stock for $10,000. As of April 30, 2023, the shares have not yet been issued by the transfer agent and are disclosed as common stock to be issued. |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 9 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 9 SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that there are the following material subsequent events to disclose. On June 1, 2023, the Company, and Golden Sands Exploration Inc, entered into a Settlement and Promissory Note Agreement for the outstanding amount due under the Winnemucca Option Agreement (Note 4). Per the terms of the agreement the amount owing is reduced to $85,000. The Company issued a Promissory Note (“Note”) to Golden Sands Exploration Inc, for $85,000, dated June 1, 2023. The note bears interest at 6% and matures on June 1, 2026. Interest is to be paid quarterly with the first payment due on or before September 1, 2023. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Apr. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending July 31, 2023. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2022. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less as cash and cash equivalents. The carrying amount of financial instruments included in cash and cash equivalents approximates fair value because of the short maturities for the instruments held. The Company had no cash equivalents as of April 30, 2023 and July 31, 2022. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Kathis Energy LLC, Kathis Energy Fund 1, LLP and Enmex Operations LLC. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. |
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block] | Mineral Property Acquisition and Exploration Costs Mineral property acquisition and exploration costs are expensed as incurred until such time as economic reserves are quantified. Cost of lease, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. We have chosen to expense all mineral exploration costs as incurred given that it is still in the exploration stage. Once our company has identified proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it would enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs will be amortized over the estimated life of the probable-proven reserves. When our company has capitalized mineral properties, these properties will be periodically assessed for impairment of value and any diminution in value. |
Oil and Gas Properties Policy [Policy Text Block] | Oil and Gas Properties The Company follows the successful efforts method of accounting for its oil and gas properties. Under this method of accounting, all property acquisition costs and costs of exploratory and development wells are capitalized when incurred, pending determination of whether the well found proved reserves. If an exploratory well does not find proved reserves, the costs of drilling the well are charged to expense. The costs of development wells are capitalized whether those wells are successful or unsuccessful. Other exploration costs, including certain geological and geophysical expenses and delay rentals for oil and gas leases, are charged to expense as incurred. Maintenance and repairs are charged to expense, and renewals and betterments are capitalized to the appropriate property and equipment accounts. Depletion and amortization of oil and gas properties are computed on a well-by-well basis using the units-of-production method. Although the Company has recognized minimal levels of production and revenue in the past, none of its property have proved reserves. Therefore, the Company’s properties are designated as unproved properties. Unproved property costs are not subject to amortization and consist primarily of leasehold costs related to unproved areas. Unproved property costs are transferred to proved properties if the properties are subsequently determined to be productive and are assigned proved reserves. Proceeds from sales of partial interest in unproved leases are accounted for as a recovery of cost without recognizing any gain until all cost is recovered. Unproved properties are assessed periodically for impairment based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage. |
Asset Retirement Obligation [Policy Text Block] | Asset Retirement Obligation Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations (“ASC 410”) requires an entity to recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred. The net estimated costs are discounted to present values using credit-adjusted, risk-free rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the equivalent unit-of-production method based upon estimates of proved oil and natural gas reserves. The liability is periodically adjusted to reflect (1) new liabilities incurred, (2) liabilities settled during the period, (3) accretion expense and (4) revisions to estimated future cash flow requirements. To date, the Company has very few operating wells. Currently, the Company has one working well. Because there is only one active well on the Ritchie Lease with a 24% working interest, the Company estimates the asset retirement obligation to be trivial and has not recorded an ARO liability. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Earnings Per Share Net income (loss) per common share is computed pursuant to ASC 260-10-45, Earnings per Share Overall Other Presentation Matters For the nine months ended April 30, 2023, the Company had no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - shares | 9 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Asset Retirement Obligation, Working Interest | 24% | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 1,911,330 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details Textual) - USD ($) | Apr. 30, 2023 | Jul. 31, 2022 |
Retained Earnings (Accumulated Deficit) | $ 3,513,721 | $ 3,391,341 |
Note 4 - Winnemucca Mountain _2
Note 4 - Winnemucca Mountain Property (Details Textual) - Winnemucca Mountain Property [Member] | Aug. 31, 2018 USD ($) | Jul. 31, 2018 USD ($) | Jul. 23, 2018 USD ($) | Sep. 14, 2012 a | Apr. 30, 2023 USD ($) | Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | Mar. 25, 2019 USD ($) |
Business Acquisition, Percentage of Voting Interests Acquired | 80% | 80% | ||||||
Unpatented Mining Claims | 138 | |||||||
Area of Land | a | 2,700 | |||||||
Payments to Acquire Businesses, Gross | $ 25,000 | $ 25,000 | $ 25,000 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 3,000,000 | |||||||
New Option Agreement [Member] | ||||||||
Other Commitment | $ 285,453 | $ 381,770 | ||||||
New Option Agreement [Member] | Accounts Payable and Accrued Liabilities [Member] | ||||||||
Other Commitment | $ 285,453 | $ 285,453 | ||||||
New Option Agreement [Member] | Cash Payments [member] | ||||||||
Other Commitment | 181,770 | |||||||
New Option Agreement [Member] | Firm Commitments [Member] | ||||||||
Other Commitment | $ 200,000 |
Note 5 - Loans Payable (Details
Note 5 - Loans Payable (Details Textual) - USD ($) | 12 Months Ended | |||||||
Jul. 31, 2022 | Apr. 30, 2023 | Mar. 31, 2023 | Jan. 31, 2023 | Mar. 03, 2021 | Jul. 31, 2020 | Jun. 11, 2020 | Apr. 16, 2017 | |
Unsecured Debt | $ 4,000 | $ 5,000 | $ 14,000 | |||||
Repayments of Unsecured Debt | $ 15,000 | |||||||
Promissory Note [Member] | ||||||||
Notes Payable | 15,000 | $ 15,000 | $ 15,000 | |||||
Interest Payable | $ 6,375 | $ 7,500 | $ 3,000 | |||||
July 31, 2020 Unsecured Note [Member] | ||||||||
Interest Payable | $ 17,215 | |||||||
Unsecured Debt | $ 60,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8% |
Note 6 - Common Stock Transac_2
Note 6 - Common Stock Transaction (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2023 | |
Stock Issued During Period, Value, New Issues | $ 40,000 | $ 5,000 | |
Common Stock to be Issued [Member] | |||
Stock Issued During Period, Shares, New Issues | 4,000,000 | ||
Stock Issued During Period, Value, New Issues | $ 40,000 | $ (20,050) | $ 80,000 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) - shares | 9 Months Ended | |
Apr. 13, 2021 | Apr. 30, 2023 | |
West Lenapah Project [Member] | Calihoma Partners LLC [Member] | ||
Equity Method Investment, Ownership Percentage | 60% | |
Calihoma Partners LLC [Member] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Calihoma Partners LLC [Member] | Scenario, Plan [Member] | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 5,000,000 | |
Calihoma Partners LLC [Member] | Common Stock to be Issued [Member] | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 5,000,000 | 5,000,000 |
Calihoma Partners LLC [Member] | NMEX Natural Gas LLC [Member] | ||
Equity Method Investment, Ownership Percentage | 35% |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | Jan. 09, 2023 | Jul. 31, 2022 | |
Stock Issued During Period, Value, New Issues | $ 40,000 | $ 5,000 | ||||
Common Stock to be Issued [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 4,000,000 | |||||
Stock Issued During Period, Value, New Issues | 40,000 | $ (20,050) | $ 80,000 | |||
Chief Executive Officer [Member] | ||||||
Accounts Payable, Current | $ 5,000 | |||||
Chief Executive Officer [Member] | Common Stock to be Issued [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 500,000 | |||||
Stock Issued During Period, Value, New Issues | $ 10,000 | |||||
Consulting Services [Member] | Director [Member] | ||||||
Costs and Expenses | 54,000 | $ 50,000 | ||||
Accounts Payable | 26,500 | 26,500 | $ 26,500 | |||
Consulting Services [Member] | Chief Financial Officer [Member] | ||||||
Accounts Payable | $ 0 | $ 0 | $ 1,900 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - USD ($) | Jun. 01, 2023 | Jul. 31, 2021 | Mar. 25, 2019 |
Winnemucca Mountain Property [Member] | New Option Agreement [Member] | |||
Other Commitment | $ 285,453 | $ 381,770 | |
Subsequent Event [Member] | Promissory Note [Member] | Settlement and Promissory Note Agreement [Member] | Golden Sands Exploration, Inc [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Subsequent Event [Member] | Winnemucca Mountain Property [Member] | New Option Agreement [Member] | |||
Other Commitment | $ 85,000 |