v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,767,210 $ 375,873
Accounts receivable, net 309,261 105,479
Contract assets 130,798 2,536
Inventories 751,831 471,468
Prepaid expenses and other current assets 129,970 204,596
Total current assets 4,089,070 1,159,952
Oil and gas, on the basis of full cost accounting, net 3,541,448
Property, plant and equipment, net 4,214,303 3,965,426
Other non-current assets 199,562 196,432
Proved oil and gas reserves 1,560,000
Intangible assets, net 783,090 11,658
Investment in and advances to equity affiliates 220,000 738,056
Goodwill 39,136,202
Total Assets 53,743,675 6,071,524
Current liabilities:    
Accounts payable and accrued expenses 12,911,626 9,332,620
Contract liabilities 1,111,501 596,082
Lease liability, current maturities 66,821
Due to affiliates 3,474,727 1,716,244
Short-term notes payable, net 7,352,896 2,098,381
Total current liabilities 24,850,750 13,810,148
Long-term notes payable, net 5,153,904 4,721,684
Total liabilities 30,004,654 18,531,832
Stockholders’ equity (deficit):    
Series A Preferred stock, $1.00 par value, 5,405,010 shares authorized; 3,848,640 and 0 issued and outstanding at June 30, 2025 and December 31, 2024, respectively 3,848,640
Common stock, $0.01 par value, 75,000,000 shares authorized; 12,120,651 issued and 12,117,280 outstanding as of June 30, 2025 and 6,389,041 issued and 6,038,382 outstanding as of December 31, 2024 121,207 60,384
Additional paid-in capital 125,714,191 86,103,787
Treasury stock, at cost 3,371 shares as of June 30, 2025 and December 31, 2024 (92,396) (92,396)
Accumulated deficit (105,852,621) (98,532,083)
Total stockholders’ equity (deficit) 23,739,021 (12,460,308)
Total Liabilities and Stockholders’ Equity (Deficit) $ 53,743,675 $ 6,071,524

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