Natural Resource Holdings, Inc.

What they do

The company was incorporated in 2018 to sell beauty sample subscriptions, then pivoted in December 2020 to acquiring gold mining claims in Canada that were never explored and were fully impaired by April 30, 2023. It later signed a January 2023 agreement with a surveying firm for mining and mineral exploration on Potter County, PA Utica Shale oil and gas properties, but reports no revenue from any activity. It is currently in negotiations to acquire other mining rights in Canada. It owns no real estate or other properties.

Revenue drivers

• Beauty sample subscriptions (historical) — The original business line generated no revenue in any quarter shown (all $0.00 from 2018 through 2019) and has been abandoned.
• Canadian gold mining claims (historical) — Acquired in December 2020 and impaired in full by April 30, 2023 after the two-year mining rights term expired without exploration because of Covid and the economic downturn; no revenue was ever recorded.
• Potter County, PA Utica Shale oil and gas surveying agreement — A January 8, 2023 agreement with a surveying consulting firm for mining, mineral exploration and surveying services; the company reports no revenue from this or any other source.
• Prospective Canadian mining rights (in negotiation) — Management states it is currently in negotiations to acquire other mining rights in Canada, but no agreement has been disclosed and no revenue has been generated.

Recent performance

For fiscal year 2025 (ended April 30, 2025), the company reported no revenue, operating expenses of $43,731, and a net loss of $50,533, down 98% from a $2,047,358 net loss in fiscal 2024. The prior-year loss included $2,000,000 of stock-based compensation for 5,000,000 shares issued to the Director as management salaries. For the three months ended January 31, 2026, the net loss was $9,802 (versus $9,578 a year earlier), and for the nine months ended January 31, 2026, the net loss was $30,599 (versus $28,992), with both increases attributed to higher audit fees. The latest balance sheet shows total assets of $35,314, total liabilities of $377,128, shareholder equity of negative $341,814, and cash and equivalents of $0.00 as of January 31, 2026. Operating cash flow was negative $40,684 in fiscal 2025, funded entirely by $40,684 of promissory notes from an unaffiliated party.

Strategy

Management says it expects working capital requirements to be funded through a combination of existing funds and further issuances of securities, and it expects to require additional capital to meet long-term operating requirements. It states it may raise capital through sales of equity or debt securities. The company is currently in negotiations to acquire other mining rights in Canada, but no terms or timeline are disclosed. It has no employees other than its officer and director and no pension, health, stock option, or similar benefit plans. No new revenue-generating operations have been announced.

Risks

• Going concern — The company has incurred recurring losses, has no revenue, and its financial statements are prepared on a going-concern basis without adjustments if it cannot continue operating.
• Negative working capital and no cash — As of January 31, 2026, current liabilities of $377,128 exceed total assets of $35,314, with cash and equivalents of $0.00 and shareholder equity of negative $341,814.
• Dependence on external financing — Fiscal 2025 operations were funded entirely by $40,684 of promissory notes from an unaffiliated party, and the company states it will require additional capital that may not be available.
• No operating business or revenue — The company reported no revenue in fiscal 2025 and no revenue in the three or nine months ended January 31, 2026, and has no employees other than its officer and director.

Outlook

Management states it expects working capital requirements will continue to be funded through a combination of existing funds and further issuances of securities, and that it expects to require additional capital to meet long-term operating requirements. It says it is currently in negotiations to acquire other mining rights in Canada, but no agreement or terms have been announced. The company provides no revenue guidance and reported no revenue in its most recent periods. It notes its financial statements assume it will continue as a going concern.