v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 230,509 $ 375,873
Accounts receivable, net 142,146 105,479
Contract assets 2,536
Inventories 961,610 471,468
Prepaid expenses and other current assets 106,801 204,596
Total current assets 1,441,066 1,159,952
Oil and gas, on the basis of full cost accounting, net 2,317,218  
Property, plant and equipment, net 4,240,088 3,965,426
Project development costs and other non-current assets 227,115 196,432
Proved oil and gas reserves 1,750,000
Intangible assets, net 809,538 11,658
Investment in and advances to equity affiliates 220,000 738,056
Goodwill 38,160,202
Total Assets 49,165,227 6,071,524
Liabilities and Stockholders’ Equity (Deficit)    
Accounts payable and accrued expenses 12,006,309 9,332,620
Contract liabilities 721,363 596,082
Lease liability, current maturities 66,821
Due to affiliates 3,416,574 1,716,244
Short-term notes payable, net 6,792,180 2,098,381
Total current liabilities 22,936,426 13,810,148
Long-term notes payable, net 5,152,414 4,721,684
Total liabilities 28,088,840 18,531,832
Series A Preferred stock, $1.00 par value, 5,405,010 shares authorized; 4,000,000 and 0 issued and outstanding at March 31, 2025 and December 31, 2024, respectively 4,000,000
Common stock, $0.01 par value, 75,000,000 shares authorized; — issued and outstanding as of March 31, 2025 and 6,389,041 issued and 6,038,382 outstanding as of December 31, 2024 63,891 60,384
Additional paid-in capital 118,383,643 86,103,787
Treasury stock, at cost 3,371 shares as of March 31, 2025 and December 31, 2024 (92,396) (92,396)
Accumulated deficit (101,278,751) (98,532,083)
Total stockholders’ equity (deficit) 21,076,387 (12,460,308)
Total Liabilities and Stockholders’ Equity (Deficit) $ 49,165,227 $ 6,071,524

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