BioForce Nanosciences receives Nevada oil and gas lease assignment pending federal approval

BioForce Nanosciences Holdings, Inc. said in a Form 8-K dated July 1, 2026 that on June 5, 2026 it received an assignment of federal oil and gas leases in Nye County, Nevada. The leases cover approximately 19,957 acres in the White River Valley. The assignor is Natural Minerals Trust, LLC, a Delaware limited liability company controlled by Nexus Capital Investments, Inc., which the filing describes as the company's majority shareholder. The leases therefore come from a related party, and the filing states no price or other consideration.

The terms

The assignment is pending approval by the United States Bureau of Land Management, and the filing says there is no assurance that approval will be granted. The package consists of eleven federal oil and gas leases in the Great Basin and Range in Nye County. Their primary terms run from 10 years, with automatic extensions for as long as oil or gas is produced in paying quantities.

If the transfer is granted, the company must pay the federal government a royalty of 12.5% of gross production revenues, under standard BLM lease terms.

What the company plans

The filing says no proven reserves have been established and no pilot wells have been drilled. The leases target several formations, including the Chainman Shale, Pilot Shale, Ely Limestone, Guilmete Dolomite, Simonson Dolomite and Joana Limestone. The filing calls the Chainman Shale the main source rock, with up to 9% total organic carbon, and says these formations have demonstrated commercial production in analogous third-party wells nearby. That is the company's claim about other operators' wells, not a result on its own acreage. The filing itself says there is no assurance the company can develop productive operations on these leases.

If the assignment is approved, the company intends to begin development. The steps it lists may include geological and geophysical studies, including 3D seismic surveys, drilling of initial exploratory and development wells, completion and production testing, construction of gathering systems and production infrastructure, and evaluation of partnerships, joint ventures or farm-out arrangements to share capital costs and technical risk.

Engineering review and the earlier pivot

On July 1, 2026, the company engaged Ryder Scott, which the filing calls a leading independent petroleum engineering firm, to advise on the potential development of its lease claims. The company says it anticipates that, with the engineers' help, it could develop reserve evaluations to guide its exploration. The engagement agreement is filed as Exhibit 10.1.

The filing says the company previously announced a strategic pivot from vitamin supplement operations to oil and gas exploration and production. It describes the Nevada leases and its plan to explore and produce oil and gas as the first steps in that change.

Financial position

SEC XBRL data summarizes figures from the company's annual report on Form 10-K, filed April 15, 2026. For the fiscal year ended December 31, 2025, the company reported a net loss of $1.3 million, compared with a net loss of $490,437 for 2024. Cash from operations was negative $65,150 for 2025 and negative $61,250 for 2024. Year-end cash and cash equivalents were $862 for 2024. These are small figures set against a lease package of approximately 19,957 acres, and the filing does not say how the company would pay for seismic surveys, drilling or infrastructure.

What the filing leaves open

The company's development steps depend on Bureau of Land Management approval of the assignment. The company also says the reserve work with Ryder Scott could guide its exploration. The filing gives no date for a BLM decision and no timetable for drilling.

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