Lithium Corporation Reports Increased Net Loss of $252,785 for Q1 2026

Lithium Corporation reported a net loss of $252,785 for the three months ending March 31, 2026, an increase of $28,862 compared to a net loss of $223,923 during the same period in 2025. The company has not generated any revenue since its inception, and the increase in losses is attributed to higher consulting fees, exploration expenses, and changes in the fair value of marketable securities. Operating expenses totaled $177,984 for the quarter, up from $157,819 in the previous year, with notable increases in consulting fees to related parties, which rose to $117,000 from $93,000.

As of March 31, 2026, Lithium Corporation's total assets were reported at $2,576,711, a decrease from $2,824,132 at the end of 2025. Current assets amounted to $2,572,222, primarily consisting of cash of $2,321,341 and marketable securities valued at $234,128. The company’s current liabilities also increased slightly to $2,414,666, resulting in a working capital of $157,556, down from $408,508 at the end of the previous fiscal year. The company continues to rely on equity financing to sustain its operations, with no revenues anticipated in the upcoming quarter.

Strategically, Lithium Corporation has been engaged in exploration activities, particularly in Nevada, focusing on lithium and other critical metals. The company has entered into agreements with Morella Corporation, a related party, for the Fish Lake Valley and North Big Smoky properties, allowing Morella to earn interests in these properties through cash payments and exploration expenditures. As of March 31, 2026, the company has not transferred ownership of these properties to Morella, pending the completion of certain obligations.

Operationally, the company has not reported any significant changes in customer counts or user statistics, as it remains in the exploration stage. The company’s employee headcount has not been disclosed, but it continues to manage its operations with a focus on exploration and potential joint ventures. The company has also indicated that it is actively seeking additional funding to support its business plan, which is critical for its ongoing operations and exploration activities.

Looking ahead, Lithium Corporation anticipates continuing to incur losses and may face challenges in maintaining operations without securing additional capital. The company has outlined estimated expenditures of approximately $701,000 for the next twelve months, which includes general and administrative expenses, exploration costs, and travel. Management remains optimistic about its strategic plans and the potential for future funding, but acknowledges the uncertainty surrounding its ability to continue as a going concern.