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Private company

FORMATION MINERALS, INC.

FORMATION MINERALS, INC. is an American crude petroleum and natural gas company based in Las Vegas.1

Last updated Oct 21, 2026.

Overview

$1.1KRevenue, fiscal 20242
-$1.7MNet income, fiscal 20242
  • IndustryCrude Petroleum & Natural Gas1
  • HeadquartersLas Vegas, Nevada1
  • Incorporated inNV3
  • Business address4730 S. Fort Apache Rd., Suite 300, Las Vegas, Nv 891473
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formCorporation

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Note and deliver the Common Stock when due will result in the Company paying Diagonal $2,000 per day for each day beyond such deadline.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-100995.0%Operating margin2
-146414.2%Net margin2
-74.1%Revenue growth, 20242

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development72¢$10.1K
  • Interest28¢$4.0K

Out of $1.1K in revenue.2 The company lost money this year.

Financial statements

Revenue562$1.1K in 2024−91% since 2021
0$5.0K$10.0K$15.0K2021: $12.6K$12.6K20212022: $6.4K$6.4K2022−49%2023: $4.4K$4.4K2023−31%2024: $1.1K$1.1K2024−74%
Operating income562-$1.2M in 2024+31% since 2021
-$1.5M-$1.0M-$500.0K02021: -$882.6K-$882.6K20212022: -$1.0M-$1.0M2022+18%2023: -$779.1K-$779.1K2023−25%2024: -$1.2M-$1.2M2024+49%
Net income562-$1.7M in 2024+112% since 2021
-$2.0M-$1.5M-$1.0M-$500.0K02021: -$790.7K-$790.7K20212022: -$930.0K-$930.0K2022+18%2023: -$766.1K-$766.1K2023−18%2024: -$1.7M-$1.7M2024+119%
Fiscal year20202021202220232024
Revenue$12.6K5$6.4K6$4.4K2$1.1K2
Research and development$120.0K5$165.1K6$161.9K2$10.1K2
Operating income-$882.6K5-$1.0M6-$779.1K2-$1.2M2
Interest$24.7K5$10.2K6$8.3K2$4.0K2
Income before tax-$1.0M6-$783.0K2-$1.7M2
Net income-$790.7K5-$930.0K6-$766.1K2-$1.7M2
Earnings per share-$0.055-$0.016-$0.012-$0.032
Earnings per share (diluted)-$0.055-$0.016-$0.012-$0.032
Shares (weighted, basic)61.4M shares687.6M shares256.3M shares2
Shares (weighted, diluted)61.4M shares587.6M shares256.3M shares2

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Corporate structure

FORMATION MINERALS, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FORMATION MINERALS, INC.

  • SPARTAN CAPITAL SECURITIES, LLC Filed SC 13G on FORMATION MINERALS, INC., latest Nov 19, 2024
  • Chan Tsz King Filed SC 13D/A on FORMATION MINERALS, INC., latest Oct 8, 2024 (2 filings since Aug 2, 2024)
  • Sze Tang (albert) Li Filed SC 13D/A on FORMATION MINERALS, INC., latest Oct 8, 2024 (2 filings since Sep 23, 2024)
  • John Damien Trainor Filed SC 13D on FORMATION MINERALS, INC., latest Aug 16, 2024
  • FORMATION MINERALS, INC. Las Vegas, Nevada

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

Leadership

Who has led FORMATION MINERALS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John Damien Trainor2022–2024
  2. James D. Hiza2024
  3. Scott Cox2024
  4. Chan Tsz King2024

Chair

  1. John Damien Trainor2024

President

  1. Scott Cox2024

Chief financial officer

  1. Scott Cox2024
2025
Board members and other officers (5)

Former names

  • SensaSure Technologies, Inc.Oct 4, 2021 to Apr 24, 20243

Timeline

  1. Mar 12, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares16
  2. Feb 24, 20258-K Listing notice or transfer17
  3. Jan 21, 20258-K Entered a material agreement; Unregistered sale of shares; Other events18
  4. Jan 16, 20258-K Entered a material agreement; Unregistered sale of shares19
  5. Jan 7, 20258-K Entered a material agreement; Unregistered sale of shares; Other events20
  6. Dec 11, 20248-K Entered a material agreement21
  7. Nov 1, 20248-K Unregistered sale of shares; Other events22
  8. Oct 9, 20248-K Unregistered sale of shares; Other events23
  9. Oct 8, 20248-K Entered a material agreement; Unregistered sale of shares24
  10. Sep 9, 20248-K Unregistered sale of shares; Other events25
  11. Aug 21, 20248-K Entered a material agreement; New debt or obligation; Unregistered sale of shares26
  12. Aug 14, 20248-K Other events27
  13. Aug 2, 2024New chief executive Chan Tsz King becomes CEO12
  14. May 13, 2024New chief executive Scott Cox becomes CEO11
  15. Jan 8, 2024New chief executive James D. Hiza becomes CEO10
  16. Jan 7, 2022New chief executive John Damien Trainor becomes CEO13

Filings

108 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 27 major events, 17 insider forms, 6 large holders, 5 private raises, 37 other. The latest 20:

  1. Jul 30, 2025NT 10-K NOTIFICATION OF LATE FILING EDGAR
  2. May 28, 202510-Q QUARTERLY REPORT EDGAR
  3. Mar 18, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  4. Mar 12, 20258-K CURRENT REPORT EDGAR
  5. Feb 24, 20258-K CURRENT REPORT EDGAR
  6. Feb 18, 202510-Q QUARTERLY REPORT EDGAR
  7. Jan 29, 2025D EDGAR
  8. Jan 24, 2025D EDGAR
  9. Jan 21, 20258-K CURRENT REPORT EDGAR
  10. Jan 16, 20258-K CURRENT REPORT EDGAR
  11. Jan 7, 20258-K CURRENT REPORT EDGAR
  12. Dec 17, 2024NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  13. Dec 11, 20248-K CURRENT REPORT EDGAR
  14. Nov 19, 2024SC 13G SCHEDULE 13G EDGAR
  15. Nov 1, 20248-K CURRENT REPORT EDGAR
  16. Oct 9, 20248-K CURRENT REPORT EDGAR
  17. Oct 8, 2024SC 13D/A AMENDMENT NO. 1 TO SCHEDULE 13D EDGAR
  18. Oct 8, 2024SC 13D/A AMENDMENT NO. 1 TO SCHEDULE 13D EDGAR
  19. Oct 8, 20244 EDGAR
  20. Oct 8, 20244 EDGAR

The 108 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

5 open-market trades by officers, directors and large owners since October 2021: 5 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 14, 2024Cox ScottPresident, CEO & CFOBuy100$0.07$7Form 4
Jun 13, 2024Cox ScottPresident, CEO & CFOBuy400$0.06$24Form 4
Jun 13, 2024Cox ScottPresident, CEO & CFOBuy400$0.06$24Form 4
May 19, 2023King Chan Tsz10% ownerBuy1,228,000$0.10$122.8KForm 4
Feb 9, 2022Li Sze Tang (Albert)10% ownerBuy500,000$0.01$5.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$592.9K 2022–2024
Money received by yearMoney received by year, 2022–2024: $592.9K in all. Private raises (Form D) $592.9K.$0$100K$200K$300K$400K2022 · Private raises (Form D): $340.9K202220232024 · Private raises (Form D): $252.0K2024
Figures by year
YearPrivate raises (Form D)Total
2024$252.0K$252.0K
2022$340.9K$340.9K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jan 29, 2025Filed a private offering of equity32 Form D: $1 million offered in all Form D
  2. Jun 10, 2024Raised $50,000 in a private offering of equity33 Form D: $250,000 offered in all Form D
  3. May 14, 2024Raised $107,000 in a private offering of debt34 Form D: 1 investor so far Form D
  4. Jan 10, 2024Raised $95,000 in a private offering of equity35 Form D: 1 investor so far Form D
  5. Feb 2, 2022Raised $340,900 in a private offering of equity36 Form D: $1 million offered in all Form D

SEC filer profile

How FORMATION MINERALS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFORMATION MINERALS, INC.1
  • CIK0001885336
  • Employer ID (EIN)87-24064681
  • Filer statusNon-accelerated filer<br>smaller reporting company<br>emerging growth company1
  • Incorporated inNevada1
  • Fiscal year endsApril 301
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address4730 S. Fort Apache Rd., Suite 300, Las Vegas, NV 891471
  • Phone(347) 325-46771
  • Shares outstanding100,035,585 as of May 28, 20258
  • Public float$0 as of Oct 31, 20232
  • On EDGAR sinceOct 4, 20211
  • Filings110 in all: 8-K (27), 10-Q (10), CORRESP (7), 3 (6), NT 10-Q (6), 4 (5), D (5), S-1/A (5)1
    All 27 form types

    425 (4), 5 (4), NT 10-K (4), UPLOAD (4), 10-K (3), SC 13D (3), 10-Q/A (2), EFFECT (2), S-4/A (2), SC 13D/A (2), 10-K/A (1), 3/A (1), 4/A (1), 424B3 (1), 424B4 (1), 8-A12B (1), S-1 (1), S-4 (1), SC 13G (1)

  • Latest filingsAnnual report (10-K) Aug 13, 2024
    Quarterly report (10-Q) May 28, 2025
    Latest 8-K (8-K) Mar 12, 2025

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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