U.S. GOLD CORP.

Listed Company

USAUCIK 0000027093NasdaqNon-AcceleratedSmaller ReportingMetal MiningNevadaFY ends Apr 30

Period

FY 2025

Revenue

—

Net Income

$-20.60M

Total Assets

$24.87M

Equity

$11.59M

Shares Out

16.50M

Op. Cash Flow

$-9.90M

Business

U.S. GOLD CORP. is a gold, copper and precious metals development and exploration company pursuing mineral exploration and project development. It offers exploration, resource and reserve definition, permitting, prefeasibility/feasibility studies, metallurgical testing and the development of an open-pit operation producing a copper-gold-silver concentrate for sale to smelters. The company’s principal business segments are the development-stage CK Gold Project in Wyoming and exploratory projects including the Keystone Project in Nevada, the Challis Project in Idaho, and retained royalty interests. Its activities and properties are concentrated in Wyoming, Nevada and Idaho, using state and federal mining claim and lease frameworks.

Summary from filing dated 2025-07-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Net revenues	—	—	—	—	—
Compensation and related taxes - general and administrative	2	1	2	2	3
Exploration costs	2	1	2	7	4
Professional and consulting fees	5	3	4	4	4
General and administrative expenses	4	1	2	1	947,513
Total operating expenses	13	7	9	15	12
Loss from operations	−13	−7	−9	−15	−12
Gain from settlement of asset retirement obligation	—	6,075	—	—	—
Interest income	160,591	39,829	4,906	—	—
Change in fair value of warrant liability	−8	313,950	2	—	—
Total other income (loss)	−8	359,854	2	1	—
Loss before provision for income taxes	−21	−7	−8	−14	−12
Provision for income taxes	—	—	—	—	—
Net loss	−21	−7	−8	−14	−12
Net loss per common share, basic	−1.8	−0.74	−0.9	−1.92	−3.8
Net loss per common share, diluted	−1.8	−0.74	−0.9	−1.92	—
outstanding - basic	11	9	8	7	5
outstanding - diluted	11	9	8	7	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Cash	8	6	8	9	14
Prepaid expenses and other current assets	726,631	948,833	610,140	787,902	430,360
Total current assets	9	7	8	10	14
Property, net	431,875	458,107	490,925	349,917	172,222
Reclamation bond deposit	1	1	857,509	832,509	718,509
Operating lease right-of-use asset, net	34,410	70,331	32,080	64,064	—
Mineral rights	14	14	14	16	16
Total non - current assets	16	16	16	18	17
Total assets	25	23	24	28	31
Accounts payable and accrued liabilities	636,734	352,804	346,718	1	619,038
Stock payable	208,809	42,500	—	—	—
Operating lease liabilities, current portion	34,410	57,486	32,080	55,630	—
Total current liabilities	879,953	452,790	378,798	1	619,038
Warrant liability	12	4	4	—	—
Asset retirement obligation	338,421	307,657	285,764	260,196	204,615
Operating lease liabilities, less current portion	—	12,845	—	8,734	—
Deferred tax liability	430,486	430,486	430,486	—	—
Total long-term liabilities:	12	5	5	3	204,615
Total liabilities	13	5	5	4	823,653
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $0.001 par value; 50,000,000 shares authorized, no shares issued and outstanding as of April 30, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value; 200,000,000 shares authorized; 12,692,784 shares and 10,732,277 shares issued and outstanding as of April 30, 2025 and 2024	12,693	10,732	9,296	8,350	7,065
Additional paid-in capital	105	90	85	82	74
Accumulated deficit	−93	−73	−66	−58	−44
Total stockholders equity	12	17	19	23	30
Total liabilities and stockholders equity	25	23	24	28	31

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Depreciation	32,390	32,818	36,505	34,794	22,886
Accretion	30,764	27,968	25,568	22,064	17,477
Amortization of right-of-use asset	57,485	55,357	52,456	40,031	—
Stock based compensation	2	593,556	1	2	4
Amortization of prepaid stock based expenses	22,500	229,850	367,250	530,194	40,105
Prepaid expenses and other current assets	222,202	−504,943	512	−42,236	−151,497
Reclamation bond deposit	25,000	−301,820	−25,000	−114,000	−362,953
Accounts payable and accrued liabilities	326,430	36,386	−728,687	466,367	356,005
Stock payable	166,309	27,350	—	—	—
Operating lease liability	−57,485	−55,357	−52,756	−39,731	—
NET CASH USED IN OPERATING ACTIVITIES	−10	−7	−9	−13	−9
Purchase of property and equipment	−6,158	—	−177,513	−178,972	−42,991
NET CASH USED IN INVESTING ACTIVITIES	−6,158	—	3	−178,972	2
Issuance of common stock, net of issuance cost	10	5	5	7	9
Issuance of common stock for exercise of stock warrants	2	—	—	1	2
NET CASH PROVIDED BY FINANCING ACTIVITIES	12	5	5	8	17
NET INCREASE/(DECREASE) IN CASH	3	−2	−1	−5	11
Interest	—	—	—	—	—
Income taxes	—	—	—	—	—
Issuance of common stock for accrued services	42,500	15,150	195,000	5,000	2,011
Issuance of common stock for prepaid services	—	63,600	190,000	845,500	—
Operating lease right-of-use asset and operating lease liability recorded upon lease modification	21,564	93,608	20,472	—	—

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