v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss from continuing operations $ (2,746,668) $ (5,482,560)
Income from discontinued operations 2,684,678
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 92,117 42,379
Amortization of intangible assets 15,058 3,417
Amortization of deferred license costs 30,589
Amortization of debt issuance costs and debt discount 344,763 183,493
Amortization of right of use asset 156,338
Gain on deconsolidation – SG DevCorp (4,728,348)
Loss on disposition of equity-based investment 180,600
Change in fair value of equity-based investment 311,560 3,112,803
Stock-based compensation 106,298 179,029
Changes in operating assets and liabilities:    
Accounts receivable 12,751 89,571
Contract assets 2,536
Inventories (20,181) (127,081)
Prepaid expenses and other current assets 97,795 88,093
Accounts payable and accrued expenses 1,072,116 1,244,747
Contract liabilities (876,302)
Lease liability (66,821) (277,521)
Customer deposit 656,510
Project development and other assets (28,439)
Contract liabilities (427,219)
Due from affiliates (74,586)
Net cash used in operating activities by continuing operations (1,308,920) (2,839,565)
Net cash used in operating activities by discontinued operations (1,594,796)
Cash flows from investing activities:    
Purchase of property, plant and equipment (73,676)
Cash received in business combination 77,013
Project development costs (200,074)
Investment in equity method investment (186,000)
Net cash used in investing activities by continuing operations (182,663) (200,074)
Net cash used in investing activities by discontinued operations (104,352)
Cash flows from financing activities:    
Repayment of short term notes payable (335,373) (884,485)
Proceeds from short-term notes payable and warrants, net of debt issuance costs 1,681,592 2,585,764
Net cash provided by financing activities by continuing operations 1,346,219 1,701,279
Net cash provided by financing activities by discontinued operations 3,687,545
Net decrease in cash and cash equivalents (145,364) 650,037
Cash and cash equivalents - beginning of period 375,873 14,212
Cash and cash equivalents - end of period 230,509 664,249
Assets and liabilities effected in deconsolidation    
Cash 567,473
Assets held for sale 4,400,361
Prepaid expenses and other current assets 429,331
Oil and gas, on the basis of full cost accounting, net
Property and equipment, net 1,194,117
Project development costs and other assets 91,490
Goodwill 1,810,787
Intangible assets 138,678
Investments in equity-based investments 3,642,607
Accounts payable and accrued expenses 1,600,294
Contingent consideration payable 945,000
Short-term notes payable 6,476,723
Supplemental disclosure of non-cash investing and financing activities:    
Common stock deemed dividend 1,638,149
Forgiveness of related party debt and investment 1,275,416
Common stock and warrants issued for debt issuance 332,049
Assets and liabilities acquired in business combination:    
Accounts receivable, net 49,418
Inventory 469,961
Property, plant and equipment, net 2,610,321
Proved oil and gas reserves 1,750,000
Goodwill 38,160,202
Intangible assets, net 812,938
Project development costs and other assets 2,244
Accounts payable and accrued expenses 1,601,573
Due to related parties 3,442,828
Contract liabilities 552,500
Long-term debt $ 3,765,596

Source

HTML PDF
XBRL
ZIP