Natural Resource Holdings Reports Decreased Net Loss and Strategic Shift to Mining

Natural Resource Holdings, Inc. reported its financial results for the six months ending October 31, 2024, revealing a net loss of $19,414, a significant decrease from the $2,019,733 loss recorded during the same period in 2023. The company did not generate any revenue in either period. The reduction in net loss is attributed to a decrease in operating expenses, particularly a notable drop in accounting fees and the absence of stock-based compensation, which had inflated expenses in the previous year due to the issuance of 5,000,000 shares valued at $2,000,000 for management salaries.

The company's total current liabilities decreased slightly to $170,009 as of October 31, 2024, down from $174,570 at the end of the previous fiscal period. This change was primarily due to a reduction in accounts payable and accrued liabilities. However, Natural Resource Holdings continues to face a working capital deficiency of $170,009, reflecting ongoing financial challenges. The company has not reported any current assets, indicating a precarious liquidity position.

In terms of operational developments, Natural Resource Holdings is focusing on its mining business following a strategic shift from its previous online beauty sample subscription model. The company has acquired mining property rights and is in the process of evaluating proposals for exploration activities in the Potter County, PA area. The company plans to commence drilling tests between May and February 2025, contingent on the successful conclusion of its exploration stage. As of October 31, 2024, the company holds mining property rights valued at $37,766, down from $38,747 in April 2024.

The company’s financial statements indicate a total stockholders' deficit of $280,096 as of October 31, 2024, compared to $260,682 at the end of the previous fiscal period. This reflects the cumulative losses incurred over time. The company has 5,709,891 shares of common stock outstanding, unchanged from the previous reporting period. Looking ahead, Natural Resource Holdings intends to raise additional capital through private or public offerings to support its operations and business plan. However, the company acknowledges that its ability to continue as a going concern is dependent on financial support from its major shareholder and the successful implementation of its business strategy.