PureBase Corporation reported a net loss of $2.28 million for the fiscal year ending November 30, 2025, a significant increase from the previous year's loss of $1.48 million. The company's revenue decreased by 8% to $285,435, down from $310,511 in 2024, primarily due to reduced purchases from a key customer. Despite a decrease in the cost of goods sold, which fell by 10% to $72,933, the overall financial performance was negatively impacted by increased operating expenses, including a 287% rise in stock-based compensation, which totaled $80,427.
In terms of operational changes, PureBase has shifted its focus entirely to the agricultural sector, discontinuing its development of supplementary cementitious materials (SCMs) for the construction market. This strategic pivot is aimed at achieving higher margins within agriculture, where the company has developed products such as the kaolin clay-based PureBase Shade Advantage WP and Humic Advantage. The company has also entered into a Master Agreement with US Mine Corporation, allowing it to purchase up to 100 million tons of metakaolin materials, although it has canceled previous stock options related to this agreement.
The company’s working capital deficiency increased slightly to $1.10 million as of November 30, 2025, compared to $1.09 million the previous year. Cash on hand decreased to $5,304 from $28,100, reflecting ongoing operational cash burn. PureBase has secured a $1 million convertible line of credit from CoreTer LLC, a related party, but it faces substantial doubt about its ability to continue as a going concern without additional financing. The company has indicated that it will need to raise further capital to fund its operations and development plans.
As of the end of the reporting period, PureBase employed two full-time and one part-time employee, relying on independent contractors for additional services. The company has also reported material weaknesses in its internal controls over financial reporting, which management is actively working to address. The company’s stock is traded on the OTCID Basic Market, with a closing price of $0.018 per share as of March 17, 2026.
Looking ahead, PureBase anticipates continued operating losses and negative cash flows as it executes its development plans for 2026. The management remains focused on enhancing its product offerings and expanding its customer base in the agricultural sector, while also seeking additional financing options to support its operations.
About PureBase Corp
PureBase Corporation is an industrial mineral and natural resource company serving the agriculture and construction markets in the U.S. It develops mineral-based products such as soil amendments, fertilizers, and cement substitutes, primarily through subsidiaries and third-party mining services. The company focuses on sustainable agricultural solutions and eco-friendly construction materials, leveraging mineral resources, distribution networks, and regulatory compliance to provide innovative, environmentally conscious products.
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