Summary of Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Accounts Receivable |
The
following is a summary of the Company’s accounts receivable at June 30, 2025 and December 31, 2024:
Schedule of Accounts Receivable
| | |
June 30, 2025 | |
December 31, 2024 |
| | |
| |
|
| Accounts receivable | |
$ | 3,128,905 | | |
$ | 1,696,436 | |
| Less: allowance for doubtful accounts | |
| 81,772 | | |
| 81,772 | |
| Accounts receivable - net | |
$ | 3,047,133 | | |
$ | 1,614,664 | |
|
| Schedule of Bad Debt |
For
the six months ended June 30, 2025 and 2024, bad debt was as follows:
Schedule
of Bad Debt
| | |
June 30, 2025 | |
June 30, 2024 |
| Bad debt expense | |
$ | 11,264 | | |
$ | 42,782 | |
|
| Schedule of Concentration of Risk |
The
following table presents customers and vendors that individually accounted for more than 10% of total sales, accounts receivable, or
vendor purchases in the comparative periods presented:
Schedule of Concentration of Risk
Sales
| | |
Six Months Ended June 30, |
| Customer | |
2025 | |
2024 |
| A | |
| 47.80 | % | |
| 0.00 | % |
| B | |
| 20.79 | % | |
| 28.51 | % |
| C | |
| 8.34 | % | |
| 0.00 | % |
| Total | |
| 76.93 | % | |
| 28.51 | % |
Accounts
Receivable
| | |
Six Months Ended June 30, | |
Year Ended December 31, |
| Customer | |
2025 | |
2024 |
| A | |
| 20.75 | % | |
| 37.53 | % |
| B | |
| 18.98 | % | |
| 0.00 | % |
| C | |
| 4.38 | % | |
| 0.00 | % |
| Total | |
| 44.11 | % | |
| 37.53 | % |
Vendor
Purchases
| | |
Six Months Ended June 30, |
| Vendor | |
2025 | |
2024 |
| A | |
| 60.10 | % | |
| 0.00 | % |
| B | |
| 18.91 | % | |
| 40.34 | % |
| C | |
| 11.40 | % | |
| 46.97 | % |
| D | |
| 4.43 | % | |
| 12.63 | % |
| Total | |
| 94.84 | % | |
| 69.94 | % |
|
| Schedule of Disaggregation of Revenue |
The
following represents the Company’s disaggregation of revenues for the six months ended June, 2025 and 2024:
Schedule of Disaggregation of Revenue
| | |
Six Months Ended June 30, |
| | |
2025 | |
2024 |
| | |
| |
| |
| |
|
| | |
Revenue | |
% of Revenues | |
Revenue | |
% of Revenues |
| | |
| |
| |
| |
|
| Fuel sales | |
$ | 35,000,884 | | |
| 97.32 | % | |
$ | 13,484,671 | | |
| 96.37 | % |
| Other | |
| 963,357 | | |
| 2.68 | % | |
| 507,226 | | |
| 3.63 | % |
| Total Sales | |
$ | 35,964,241 | | |
| 100.00 | % | |
$ | 13,991,897 | | |
| 100.00 | % |
|
| Schedule of Marketing and Advertising Costs |
The
Company recognized marketing and advertising costs during the six months ended June 30, 2025 and 2024, respectively as follows:
Schedule of Marketing and
Advertising Costs
| | |
6 months | |
6 months |
| | |
June 30, 2025 | |
June 30, 2024 |
| | |
| |
|
| Total Sales and Marketing | |
$ | 236,921 | | |
$ | 84,515 | |
|
| Schedule of Dilutive Equity Securities Outstanding |
The
following potentially dilutive equity securities outstanding for the six months ended June 30, 2025 and 2024, were as follows:
Schedule of Dilutive Equity Securities Outstanding
| | |
June 30, 2025 | | |
June 30, 2024 | |
| Series A, preferred stock | |
| 1,644,022 | | |
| - | |
| Series B, preferred stock | |
| 724,638 | | |
| - | |
| Series A, preferred stock - dividends | |
| - | | |
| - | |
| Series B, preferred stock - dividends | |
| - | | |
| - | |
| Warrants (vested) | |
| 277,282 | | |
| 81,452 | |
| Total common stock equivalents | |
| 2,646,488 | | |
| 81,452 | |
|