MINERALRITE Corp Annual Report - How They Did This Year

I’ve put together this guide to help you understand how MINERALRITE Corp performed this year. My goal is to cut through the corporate jargon and give you the facts you need to decide if this company belongs in your portfolio.

1. What does this company do?

MINERALRITE Corp is a Texas-based company that finds and develops mineral assets. Think of them as a project manager for mining. Instead of owning traditional mines, they focus on "tailings"—leftover materials from past mining operations. They prepare these sites for production and then either run them or sell the rights to others. Their main project is Skull Valley, where they use modern technology to extract leftover gold and silver.

2. Financial performance

The company is currently in the development stage and earned $0 in revenue for the year ending December 31, 2024. Operating expenses reached $2.8 million, primarily driven by administrative costs and professional fees. They operate without direct employees, relying instead on management and outside consultants. A major move this year was the $432 million acquisition of California Precious Metals and Peeples, Inc., which was funded by issuing 4.3 billion shares of preferred stock.

3. Major wins and challenges

The company has been working to stabilize its operations. After a leadership change in late 2023, they spent 2025 updating their financial reporting and resolving past legal issues, including a $50,000 FINRA settlement. They are now a "fully reporting" company with the SEC. However, they ended the year with a $1.2 million shortfall in working capital and require at least $3 million in new funding to maintain operations.

4. Financial health

This area requires caution. With no steady income, the company is burning through cash at a rate of approximately $150,000 per month. Their financial structure is complex, and the recent acquisition added $5 million in long-term debt. With over 6.2 billion shares already issued, the company currently owes $2.1 million more than it owns.

5. Key risks

• "Going Concern": Auditors have warned that the company’s losses and lack of cash raise doubts about its ability to stay in business.
• Operational Uncertainty: The company is betting its future on the Skull Valley project. If extraction costs exceed market prices, there is no other income to fall back on.
• Dilution: Because they pay for operations with stock, your ownership percentage could shrink. They are authorized to issue up to 10 billion shares.
• Internal Controls: The company has flagged weaknesses in its accounting, indicating that their financial record-keeping has not yet met standard professional requirements.

6. Future outlook

The company plans to start production at Skull Valley by late 2026. They intend to hire contractors for the heavy lifting while they manage the technical work. They are also evaluating two properties in Nevada. Success depends on securing $2 million in funding by mid-2026 to cover permits and equipment.

7. The Bottom Line

MINERALRITE is a high-risk, speculative investment. They are essentially a startup trying to move from "on paper" to "in the ground." With no revenue and a massive number of shares already in circulation, this is a gamble. The outcome is binary: either Skull Valley succeeds and generates cash, or the company will likely need to restructure or issue more shares to survive.

Investor Tip: Before considering an investment, look closely at the company's ability to secure that $2 million in funding by mid-2026. Without that capital, the path to production remains blocked.