MineralRite Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 2, 2026, reporting no revenue and a nine-month net income of $4,804 driven by non-operating items.

Key Highlights

  • No Revenue: The company reported $0 in Mineral Sales and Services for both the three and nine months ended September 30, 2026, according to the filing.
  • Nine-Month Net Income: Net income for the nine months ended September 30, 2026 was $4,804, compared to a net loss of $(125,548) for the same period in 2025.
  • Q3 Net Income: Net income for the three months ended September 30, 2026 was $358,577, including $507,442 in non-operating income.
  • Shares Outstanding: As of November 1, 2026, there were 6,249,776,842 shares of Common Stock outstanding, with no par value.
  • Total Assets: Total assets were $246,409,517 as of September 30, 2026, down from $247,828,780 at December 31, 2025, with mineral assets of $246,144,975 comprising the largest portion.
  • Series NMC Repurchase Impact: A $8,740,242 excess of Series NMC Preferred Stock repurchase price over carrying amount reduced net income attributable to common shareholders, resulting in a nine-month loss per common share of $(0.001403).
  • Cash Position: Cash and cash equivalents stood at $7,617 as of September 30, 2026, down from $11,617 at December 31, 2025.

MineralRite Reports Q3 2026 Financials With No Operating Revenue

MineralRite Corporation (OTC Markets (OTCID):RITE), a Texas-incorporated smaller reporting company and emerging growth company, disclosed its condensed consolidated financial statements for the three and nine months ended September 30, 2026. According to the filing, the company generated no revenue from Mineral Sales and Services in either period presented, and total operating expenses for the nine months ended September 30, 2026 were $464,068, compared to $235,908 for the same period in 2025. Legal and professional fees were the largest expense category, totaling $289,900 for the nine-month period.

The company reported a nine-month net income of $4,804 and a Q3 net income of $358,577, both attributable primarily to $507,442 in non-operating income recorded in the quarter. The filing noted that interest expense of $8,195 and an unrealized loss of $30,375 on investments also affected the nine-month results. However, the filing disclosed that a non-cash accounting adjustment related to the repurchase of 3,919,388 shares of Series NMC Preferred Stock - where the $106,724,942 repurchase price exceeded the $97,984,700 carrying amount by $8,740,242 - was applied against income attributable to common shareholders as required by ASC 260-10-S99-2, resulting in a nine-month net loss attributable to common shareholders of $(8,743,313) and a loss per common share of $(0.001403). The filing stated that this amount "is not an expense, involved no cash, and is not included in net income."

On the balance sheet, mineral assets of $246,144,975 represented the dominant component of total assets of $246,409,517. The filing noted that authorized share amounts in the balance sheet reflect the company's Restated Certificate of Formation, approved by shareholders on September 28, 2026, which "had not completed processing as of the date of this report." Total liabilities were $5,259,068 and total shareholders' equity was $241,150,449 as of September 30, 2026.

What Was Disclosed

MineralRite Corporation disclosed its unaudited condensed consolidated financial statements for Q3 and the nine months ended September 30, 2026, showing no operating revenue, $4,804 in nine-month net income, and a non-cash preferred stock repurchase adjustment that produced a substantial loss attributable to common shareholders.