v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,827,323) $ (104,785)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and depletion 66,689 63,085
Accretion of asset retirement obligation 1,105
Stock-based compensation 64,086 63,413
Amortization of right of use asset 41,089 36,385
Changes in operating assets and liabilities:    
Increase in accounts receivable 42,168 39,628
Increase in prepaid expenses and other current assets (307,944) (68,992)
Increase in accounts payable and accrued expenses 145,622 94,354
Decrease in operating lease liability (41,797) (36,390)
Net cash (used in) provided by operating activities (2,817,410) 87,803
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital contribution for equity investment (766,216)
Cash paid for refundable acquisition deposit (160,000)
Net cash used in investing activities (160,000) (766,216)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock for cash, net of offering costs 6,968,265
Net cash provided by financing activities 6,968,265
Increase (decrease) in cash 3,990,855 (678,413)
Cash, beginning of period 2,960,151 4,059,182
Cash, end of period 6,951,006 3,380,769
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid
Taxes paid
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES    
Change in accrued oil and gas development costs 1,105
Changes in estimate of asset retirement obligations, net 5,290
Cashless exercise of options $ 4