Idaho Copper Corporation (COPR) reported another loss-making quarter and remains a pre-revenue exploration company. For the nine months ended October 31, 2025, the company generated no revenue and recorded a net loss of $2,249,887, an improvement from a $4,432,829 loss in the prior-year period, mainly due to lower stock-based compensation and operating expenses.
At October 31, 2025, Idaho Copper held just $2,067 in cash, with total assets of $158,480 against total liabilities of $6,185,881, resulting in a stockholders’ deficit of $6,027,401. The company discloses a working capital deficit of $3,933,385 and states there is substantial doubt about its ability to continue as a going concern.
The capital structure continued to change through conversions of preferred stock and accrued compensation into common shares, warrant exercises, and new notes payable to insiders and third parties. As of November 25, 2025, there were 276,898,105 common shares issued, issuable, and outstanding, reflecting ongoing dilution as Idaho Copper finances exploration activities and corporate overhead through equity-linked instruments and small promissory notes.
Idaho Copper Corporation implemented a 1-for-20 reverse stock split of its common stock, effective upon filing on October 15, 2025, and reduced authorized common shares from 100,000,000 to 5,000,000.
Immediately before the split, 266,927,178 shares were outstanding; these were converted into approximately 13,346,359 shares. No fractional shares were issued, with any fractional amounts rounded up to the nearest whole share. The par value of the common stock remains $0.001 per share.
Outstanding warrants, options, and other convertible or exercisable securities were adjusted ratably for both share counts and exercise or conversion prices. The company submitted the required notification to FINRA to process the split on the OTC Markets’ OTCIQ Marketplace.
Idaho Copper Corp (COPR) filed an S-1 registration describing an intended offering and the company’s recent financials and capital structure. For the six months ended July 31, 2025 the company reported a net loss of $1,460,852 and a working capital deficit of $2,465,180, and for the year ended January 31, 2025 a net loss of $5,137,332. The filing discloses substantial dilution risk: over 263 million common shares were outstanding as of April 30, 2025, with tens of millions of outstanding warrants and options (over 53 million warrants at various strikes).
The company records material liabilities including bond liabilities with minimum payments totaling $3.13M, convertible notes activity that converted into common stock, and related-party short-term notes that were extended to April 30, 2026. Management states there is substantial doubt about the company’s ability to continue as a going concern and expects to seek additional funding through operations and financings. The registration was declared effective by the SEC on June 13, 2025.