Purebase Corp Liquidation Value
Cash & Equivalents
Key Metrics
Cash Liquidation Value
- Long-Term Debt: not reported in this period (annual-only)
Liquid Liquidation Value
- Accounts Receivable: not reported in this period (annual-only)
- Long-Term Debt: not reported in this period (annual-only)
Operating Liquidation Value
- Accounts Receivable: not reported in this period (annual-only)
- Long-Term Debt: not reported in this period (annual-only)
- Inventory: not reported
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-1.50M | $-0.01 |
| Liquid Liquidation Value | $-1.50M | $-0.01 |
| Operating Liquidation Value | $-1.50M | $-0.01 |
Key Components (as of 2026-02-28)
| Cash & Equivalents | $111,629 |
| Accounts Receivable | N/A |
| Inventory | N/A |
| Current Liabilities | $1.61M |
| Long-term Debt (?) | N/A |
| Op. Lease Liability (?) | $0 |
| Finance Lease (?) | N/A |
| Shares Outstanding | 279.5M |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2026-02-28 | $111,629 | N/A | N/A | $201,492 | $1.61M | N/A | $0 | N/A |
| 2025-11-30 | $5,304 | N/A | N/A | $233,338 | $1.15M | N/A | $0 | N/A |
| 2025-08-31 | $97,921 | $9,828 | N/A | $179,736 | $913,906 | N/A | $11,648 | N/A |
| 2025-05-31 | $500 | $49,140 | N/A | $198,937 | $1.95M | N/A | $15,859 | N/A |
| 2025-02-28 | $19,990 | $0 | N/A | $108,107 | $1.56M | N/A | N/A | N/A |
| 2024-11-30 | $28,100 | N/A | N/A | $40,402 | $1.14M | N/A | N/A | N/A |
| 2024-08-31 | $31,246 | $74,244 | N/A | $16,182 | $900,687 | N/A | $0 | N/A |
| 2024-05-31 | $45,940 | $50,034 | N/A | $62,629 | $846,104 | N/A | $0 | N/A |
SEC Filings
| Period | Form | Filed | Link |
|---|---|---|---|
| 2026-02-28 | 10-Q | 2026-04-15 | View |
| 2025-11-30 | 10-K | 2026-03-18 | View |
| 2025-08-31 | 10-Q | 2025-10-15 | View |
| 2025-05-31 | 10-Q | 2025-07-15 | View |
| 2025-02-28 | 10-Q | 2025-04-14 | View |
| 2024-11-30 | 10-K | 2025-02-28 | View |
| 2024-08-31 | 10-Q | 2024-10-15 | View |
| 2024-05-31 | 10-Q | 2024-07-15 | View |
AI Insights
Purebase Corp (PUBC) presents a deeply negative liquidation posture as of February 28, 2026. Total assets of $342k are overwhelmed by total liabilities of $1.61M, producing GAAP stockholders' equity of negative $1.26M. Under liquidation haircuts, the recovery picture is worse: cash of $112k recovers at par; PP&E (gross $236k, net $175k) at 50-70% recovers roughly $88-$123k; prepaid expenses of $52k at 0-50% recover at most $26k; the ROU asset of $3k is zero-recovery. Total asset recovery under liquidation is approximately $226k-$261k. Against face-value liabilities of $1.61M — all current, no long-term — equity recovery is deeply negative at approximately negative $1.35M to $1.38M. The MFFAIS CLV/LLV/OLV of negative $1.49M is consistent with this range.
The liability stack has materially deteriorated QoQ (from $1.15M at November 30, 2025 to $1.61M). The primary driver is a new $531k current line of credit drawn from CoreTer LLC, an entity wholly owned by CEO A. Scott Dockter — a high conflict-of-interest instrument. The J.J. Astor bridge loan ($446k net of discount) remains in default since November 2025, carrying a $98k default fee and accruing default interest at elevated rates; $168k was repaid in the quarter but default interest of $27k was charged through February 28, 2026. The Vanquish bridge loan ($119k net) has near-term scheduled maturities ($69k due March 30, 2026). A $99k USMC advance (OtherLiabilitiesCurrent) and $46k in director/related-party convertible notes round out the debt stack. Total accrued interest payable is $53k. Accounts payable and accrued compensation stand at $259k.
The company generated zero revenue for the quarter ended February 28, 2026, carries an accumulated deficit of $66.8M, and burned $271k in operating cash. Management disclosed substantial going concern doubt. The CoreTer line of credit (up to $1M, with $771k drawn post-period as of the filing date) is the sole near-term liquidity source. This facility is unsecured, convertible at VWAP, and matures February 27, 2027, but draws additional principal risk given the related-party structure. Filing discusses the CoreTer line extensively in MD&A but the balance sheet amount ($531k at February 28, 2026) is tagged under LinesOfCreditCurrent; the additional $240k drawn post-period is not on the balance sheet and is referenced only in narrative. PP&E intangibles (mineral rights) are discussed in Note 4 but are not separately XBRL-tagged; filing does not disclose a standalone intangible asset line in TAG_CONTEXT.
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