Here are the 10-K annual reports from Mag Magna Corp (MGNC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MGNC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MGNC filings page.
Mag Magna Corp. (MGNC) acquired mineral rights in Illinois and Arizona for cash and stock, recording $1,900,000 in mining assets: $300,000 cash and 2,000,000 shares valued at $0.80 each. The agreement's $10,300,000 contractual price uses a $5.00 deemed share price, not the financial-statement valuation. Exploration has not begun, and the company has declared no mineral resources or reserves; future work depends on raising capital.
At April 30, 2026, cash was $158,325 against $1,788,937 of current liabilities, leaving a $1,630,612 working capital deficit. Fiscal 2026 net loss was $14,717,597, versus $52,254 in fiscal 2025; operating cash use was $306,742, versus $59,584. Auditors expressed substantial doubt about the company's ability to continue as a going concern. The company says it lacks capital for $100,000 of 2026 and $200,000 of 2027 minimum work commitments. A Monroe Street agreement provides for up to $30 million of common-stock purchases; MGNC had delivered no put notice.
Management identified three material weaknesses and concluded disclosure controls and internal control over financial reporting were ineffective as of April 30, 2026. Remediation plans depend on resources becoming available.