Enertopia Corp. Reports Decreased Net Loss of $83,130 for Quarter Ended November 30, 2024

Enertopia Corp. has reported its financial results for the three months ended November 30, 2024, revealing a net loss of $83,130, a significant decrease from the $409,748 loss recorded in the same period last year. The company did not generate any revenue during this quarter, consistent with the previous year. The reduction in net loss is attributed to a decrease in other expenses, which fell by $168,271, and a reduction in research and development costs, which decreased by $65,352. Overall, operating costs were lower by $158,347 compared to the prior year, primarily due to cost containment measures and reduced exploration expenses following the completion of a drilling program.

In terms of cash flow, Enertopia reported net cash used in operating activities of $103,072 for the quarter, down from $229,950 in the same period last year. The company generated $75,947 from investing activities, a decrease from $218,555 in the prior year. As of November 30, 2024, Enertopia's cash and cash equivalents stood at $152,768, down from $179,893 at the end of the previous fiscal period. The company has cumulative losses of $15,608,047, raising concerns about its ability to continue as a going concern without additional financing.

Strategically, Enertopia is focused on lithium exploration in Nevada and holds intellectual property related to green technology. The company has made progress in its research and development efforts, particularly in hydrogen technology and an Energy Management System (EMS), for which a patent was issued on November 19, 2024. However, the EMS remains in the research phase and has not yet achieved commercial feasibility. The company has also been involved in related party transactions, incurring consulting fees to its president and CFO, although the president's consulting fees have been suspended since July 2024.

Operationally, Enertopia has not reported any significant changes in customer counts or user statistics, as it remains in the development stage with no revenue-generating operations. The company continues to rely on equity financing to support its operations, and management is actively pursuing various financing alternatives to meet its immediate and long-term financial needs. The outlook remains uncertain, with management acknowledging the challenges of obtaining additional financing and the potential need to scale down operations if sufficient funds are not secured.

In summary, while Enertopia Corp. has made strides in reducing its losses and advancing its technology initiatives, the company faces ongoing financial challenges and must secure additional funding to sustain its operations and achieve its strategic goals.