T-REX Acquisition Corp. Reports Increased Net Loss and Revenue Decline for Six Months Ending December 31, 2024

T-REX Acquisition Corp. reported its financial results for the six months ending December 31, 2024, revealing a net loss of $729,242, compared to a loss of $568,058 for the same period in 2023. The company did not generate any revenue during this period, a significant decline from $15,824 in the previous year, primarily due to the suspension of its cryptocurrency mining operations since March 2024. The total operating expenses increased to $620,749 from $547,999 year-over-year, driven by higher management and consulting fees, which rose to $309,503 from $266,590.

The company's balance sheet as of December 31, 2024, showed total assets of $224,165, up from $152,249 as of June 30, 2024. Current liabilities also increased significantly to $1,575,951 from $1,259,861, largely due to rising accounts payable and accrued expenses, which reached $79,776, and increased obligations to related parties. The accumulated deficit widened to $7,753,040 from $7,023,798, reflecting ongoing operational challenges and losses.

Strategically, T-REX Acquisition Corp. has paused its mining operations but plans to resume at a single location in Orofino, Idaho, following the termination of previous contracts. The company is also exploring opportunities in the cryptocurrency co-location business model through its subsidiary, Megalodon Mining and Electric, LLC. This model aims to host third-party mining equipment in exchange for fees, potentially diversifying revenue streams. The company is currently in discussions to acquire a co-location facility in Idaho, although no definitive agreements have been reached.

Operationally, T-REX Acquisition Corp. maintained a consistent employee headcount of 18,223,953 shares outstanding throughout the reporting period. The company’s cash position improved slightly, ending the period with $144 compared to $36 at the beginning of the period. However, the lack of revenue generation and the increase in liabilities indicate ongoing financial strain. The company’s management has indicated that the changes in market conditions and strategic decisions to pause mining operations have significantly impacted financial performance.

Looking ahead, T-REX Acquisition Corp. aims to stabilize its operations and explore new revenue opportunities through its planned resumption of mining and potential expansion into co-location services. The company acknowledges the high degree of risk associated with its business model and the cryptocurrency market, emphasizing the need for careful consideration of these factors as it navigates its future strategies.