Note 14 - Sales and Service Revenue and Cost of Sales and Services

6 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 14: SALES AND SERVICE REVENUE AND COST OF SALES AND SERVICES

During the three months ended January 31, 2022, we recorded sales of $13,146,000 from the sale of 300,000 pounds of our uranium concentrate inventory. In addition, we recorded revenue from toll processing services of $44,925, which was generated from processing uranium resins according to a toll processing agreement that we inherited from the U1A Acquisition.

The table below provides a breakdown of sales and service revenue and cost of sales and service revenue:

	Three and Six Months Ended January 31,
	2022			2021
Sales of purchased uranium inventory	$	13,146,000		$	-
Revenue from toll processing services		44,925			-
Total sales and service revenue	$	13,190,925		$	-
Cost of purchased uranium inventory	$	(9,210,770	)	$	-
Cost of toll processing services		(37,438	)		-
Total cost of sales and services	$	(9,248,208	)	$	-

Subsequent to January 31, 2022, we sold 200,000 pounds of uranium for total proceeds of $9,800,000.