| RESTATEMENT OF PREVIOUSLY ISSUED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) |
NOTE 14 — RESTATEMENT OF PREVIOUSLY
ISSUED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
The Company has received
a series of comment letters (“Comment Letters”) from the staff (the “Staff”) of the Division of Corporation Finance
of the Securities and Exchange Commission (“SEC”). The Comment Letters included comments related to the Company’s accounting
for non-controlling interest (“NCI”) for Class B Units of a subsidiary of the Company and the corresponding number of Class
B Common Stock of the Company (collectively, referred to as the “Class B Equity”). The Company did not allocate its annual
losses to the NCI because, among other things pursuant to the purchase agreement for the Company’s initial business combination
and related transaction documents, the Class B Equity had “no economic” rights.
On February 24, 2026, the Audit Committee of the
Board of Directors of the Company (the “Audit Committee”) determined, based on management’s recommendation and after
consultation with CBIZ CPAs P.C., the Company’s independent registered public accounting firm, to modify the accounting methodology
and allocate net income or loss to the NCI for Class B Equity from November 15, 2023, when the Class B Equity was issued, through February
2025, when the last of the Class B Equity was converted to Class A Common Stock of the Company.
During the preparation of the Company’s
2025 consolidated financial statements, the Company determined that a side agreement executed in 2021 in connection with the sale of founders’
shares to the Company’s Chief Executive Officer contained a put right on the purchased shares of common stock. The Company did not
account for this put right. The Company determined that this put right should be classified as a derivative liability and measured at
fair value, and that the underlying shares of common stock should be accounted for as mezzanine equity.
In addition, the Company determined that the conversion
options within the 2025 Convertible Notes and the White Lion Notes should be bifurcated as derivative liabilities and accounted for at
fair value as further discussed in Note 8 above.
In addition, as previously reported in the
Company’s September 30, 2025, 10Q filed on November 14, 2025, during the preparation of its financial statements for the nine
months ended September 30, 2025, the Company determined the asset retirement obligation liability and related accretion of asset
retirement obligation expenses incurred during three months ended March 31, 2025, three months ended June 30, 2025 and the six
months ended June 30, 2025 was overstated due to an incorrect discount rate being used in the calculation. The Company also
identified errors related to (i) the accounting for certain vendor invoices in the correct period which resulted in additional
capitalized expenditures related to oil and gas operations, additional lease operating and general and administrative expenses, and
corresponding changes to accounts payable and other accrued liabilities, (ii) incorrect recognition of royalties payable at the
proper ownership interest and historical differentials, (iii) recognition of certain crude oil and natural gas sales in the wrong
period, (iv) recognition of certain production taxes and lease operating expenses in the wrong period, (v) incorrect recognition of
interest expense and gain on the settlement of liabilities during the third quarter of 2025, (vi) proper classification of capital
expenditures related to oil and gas operations between prepaid expenditures and capitalized assets, (vii) improper recognition and
classification of cash received for settlement of commodity derivatives, (viii) incorrect classification between current and long
term assets of security deposits on oil and gas bonds and (ix) the related estimated tax impacts of the previously mentioned
errors in its consolidated financial statements. Additionally, the Company identified an error in which it had incorrectly
capitalized certain prepaid workover costs to Oil and Gas properties which had not yet actually been incurred. The
impact of the errors on the previously issued unaudited condensed consolidated financial statements is as follows:
| | |
Three Months Ended March 31, 2025 | |
| | |
As Reported | | |
Adjustments | | |
As Restated | |
| Revenues | |
| | |
| | |
| |
| Natural gas and natural gas liquids | |
$ | 139,532 | | |
$ | (59,500 | ) | |
$ | 80,032 | |
| Total revenues | |
| 4,564,598 | | |
| (59,500 | ) | |
| 4,505,098 | |
| | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | |
| Lease operating | |
| 1,921,321 | | |
| 269,446 | | |
| 2,190,767 | |
| Accretion of asset retirement obligations | |
| 335,771 | | |
| (328,779 | ) | |
| 6,992 | |
| General and administrative | |
| 2,084,545 | | |
| (275,655 | ) | |
| 1,808,890 | |
| Total expenses | |
| 4,835,928 | | |
| (334,988 | ) | |
| 4,500,940 | |
| Operating income (loss) | |
| (271,330 | ) | |
| 275,488 | | |
| 4,158 | |
| Gain on extinguishment of liabilities | |
| 92,294 | | |
| (484,113 | ) | |
| (391,819 | ) |
| Change in fair value of derivative liabilities | |
| - | | |
| (129,721 | ) | |
| (129,721 | ) |
| Change in fair value of derivative liabilities - related party | |
| - | | |
| 113,000 | | |
| 113,000 | |
| Other income | |
| 13,627 | | |
| (13,426 | ) | |
| 201 | |
| Total other income (expense) | |
| (2,251,286 | ) | |
| (514,260 | ) | |
| (2,765,546 | ) |
| Income (loss) before income taxes | |
| (2,522,616 | ) | |
| (238,772 | ) | |
| (2,761,388 | ) |
| Income tax (provision) benefit | |
| 770,385 | | |
| (65,516 | ) | |
| 704,869 | |
| Net income (loss) | |
| (1,752,231 | ) | |
| (304,288 | ) | |
| (2,056,519 | ) |
| Net income (loss) attributable to NCI | |
| - | | |
| (28,535 | ) | |
| (28,535 | ) |
| Net income (loss) attributable to Eon Resources, Inc. | |
$ | (1,752,231 | ) | |
$ | (275,753 | ) | |
$ | (2,027,984 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average share outstanding, common stock - basic and diluted | |
| 15,338,289 | | |
| | | |
| 15,338,289 | |
| Net income (loss) per share of common stock – basic and diluted | |
$ | (0.11 | ) | |
| (0.02 | ) | |
$ | (0.13 | ) |
| Condensed Consolidated Balance Sheet | |
As of March 31, 2025 | |
| | |
As Reported | | |
Adjustment | | |
As Restated | |
| | |
| | |
| | |
| |
| Crude oil and natural gas properties, successful efforts method: | |
| | |
| | |
| |
| Proved Properties | |
$ | 100,926,091 | | |
$ | (36,870 | ) | |
$ | 100,889,221 | |
| Total oil and natural gas properties, net | |
| 98,069,791 | | |
| (36,870 | ) | |
| 98,032,921 | |
| Total Assets | |
$ | 103,860,046 | | |
$ | (36,870 | ) | |
$ | 103,823,176 | |
| | |
| | | |
| | | |
| | |
| Accounts payable | |
$ | 6,599,927 | | |
$ | (319,306 | ) | |
$ | 6,280,621 | |
| Accrued liabilities and other | |
| 8,393,414 | | |
| (130,614 | ) | |
| 8,262,800 | |
| Royalties payable | |
| 4,117,471 | | |
| 479,767 | | |
| 4,597,238 | |
| Total current liabilities | |
| 33,707,812 | | |
| 29,847 | | |
| 33,737,659 | |
| Asset retirement obligations | |
| 1,385,056 | | |
| (328,779 | ) | |
| 1,056,277 | |
| Deferred tax liability | |
| 1,922,348 | | |
| 65,516 | | |
| 1,987,864 | |
| Derivative liabilities | |
| - | | |
| 216,646 | | |
| 216,646 | |
| Derivative liabilities, related parties | |
| - | | |
| 2,537,000 | | |
| 2,537,000 | |
| Total for non-current liabilities | |
| 37,644,078 | | |
| 2,490,383 | | |
| 40,134,461 | |
| Total liabilities | |
| 71,351,890 | | |
| 2,520,230 | | |
| 73,872,120 | |
| | |
| | | |
| | | |
| | |
| Redeemable common stock | |
| - | | |
| 800,000 | | |
| 800,000 | |
| | |
| | | |
| | | |
| | |
| Class A Common Stock | |
| 1,792 | | |
| (40 | ) | |
| 1,752 | |
| Additional paid in capital | |
| 41,237,209 | | |
| (402,772 | ) | |
| 40,834,437 | |
| Accumulated deficit | |
| (29,951,259 | ) | |
| 1,253,477 | | |
| (28,697,782 | ) |
| Total stockholders’ deficit attributable to EON Resources, Inc. | |
| 11,287,742 | | |
| 850,665 | | |
| 12,138,407 | |
| Noncontrolling Interest | |
| 21,220,414 | | |
| (4,207,765 | ) | |
| 17,012,649 | |
| Total Stockholders’ Equity | |
| 32,508,156 | | |
| (3,357,100 | ) | |
| 29,151,056 | |
| Total Liabilities and Stockholders Equity | |
$ | 103,860,046 | | |
$ | (36,870 | ) | |
$ | 103,823,176 | |
| | |
Three Months Ended June 30, 2025 | |
| | |
As Reported | | |
Adjustments | | |
As Restated | |
| Revenues | |
| | |
| | |
| |
| Crude oil | |
$ | 3,520,740 | | |
$ | 74,402 | | |
$ | 3,595,142 | |
| Natural gas and natural gas liquids | |
| 67,840 | | |
| (25,500 | ) | |
| 42,340 | |
| Total revenues | |
| 4,583,148 | | |
| 48,902 | | |
| 4,632,050 | |
| | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | |
| Production taxes, transportation and processing | |
| 302,850 | | |
| 12,491 | | |
| 315,341 | |
| Lease operating | |
| 1,993,454 | | |
| 365,588 | | |
| 2,359,042 | |
| Accretion of asset retirement obligations | |
| 95,322 | | |
| (86,809 | ) | |
| 8,513 | |
| General and administrative | |
| 1,941,044 | | |
| (132,699 | ) | |
| 1,808,345 | |
| Total expenses | |
| 4,790,860 | | |
| 158,571 | | |
| 4,949,431 | |
| Operating income (loss) | |
| (207,712 | ) | |
| (109,669 | ) | |
| (317,381 | ) |
| Gain on extinguishment of liabilities | |
| 207,307 | | |
| (1,121,825 | ) | |
| (914,518 | ) |
| Change in fair value of derivative liabilities | |
| - | | |
| (755,558 | ) | |
| (755,558 | ) |
| Change in fair value of derivative liabilities - related party | |
| - | | |
| 449,000 | | |
| 449,000 | |
| Interest expense | |
| (1,678,538 | ) | |
| 28,882 | | |
| (1,649,656 | ) |
| Other income | |
| 281,715 | | |
| (281,715 | ) | |
| - | |
| Total other income (expense) | |
| (1,491,511 | ) | |
| (1,681,216 | ) | |
| (3,172,727 | ) |
| Income (loss) before income taxes | |
| (1,699,223 | ) | |
| (1,790,885 | ) | |
| (3,490,108 | ) |
| Income tax (provision) benefit | |
| 398,744 | | |
| 135,515 | | |
| 534,259 | |
| Net income (loss) | |
| (1,300,479 | ) | |
| (1,655,370 | ) | |
| (2,955,849 | ) |
| Net income (loss) attributable to Eon Resources, Inc. | |
$ | (1,300,479 | ) | |
$ | (1,655,370 | ) | |
$ | (2,955,849 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average share outstanding, common stock - basic and diluted | |
| 22,575,043 | | |
| | | |
| 22,575,043 | |
| Net income (loss) per share of common stock – basic and diluted | |
$ | (0.06 | ) | |
| (0.07 | ) | |
$ | (0.13 | ) |
| | |
Six Months Ended June 30, 2025 | |
| | |
As Reported | | |
Adjustments | | |
As Restated | |
| Revenues | |
| | |
| | |
| |
| Crude oil | |
$ | 7,913,345 | | |
$ | 74,402 | | |
$ | 7,987,747 | |
| Natural gas and natural gas liquids | |
| 207,372 | | |
| (85,000 | ) | |
| 122,372 | |
| Total revenues | |
| 9,147,746 | | |
| (10,598 | ) | |
| 9,137,148 | |
| | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | |
| Production taxes, transportation and processing | |
| 700,066 | | |
| 12,491 | | |
| 712,557 | |
| Lease operating | |
| 3,914,775 | | |
| 635,034 | | |
| 4,549,809 | |
| Accretion of asset retirement obligations | |
| 251,538 | | |
| (236,033 | ) | |
| 15,505 | |
| General and administrative | |
| 4,025,589 | | |
| (408,354 | ) | |
| 3,617,235 | |
| Total expenses | |
| 9,447,233 | | |
| 3,138 | | |
| 9,450,371 | |
| Operating income (loss) | |
| (299,487 | ) | |
| (13,736 | ) | |
| (313,223 | ) |
| Gain on extinguishment of liabilities | |
| 299,601 | | |
| (1,605,938 | ) | |
| (1,306,337 | ) |
| Change in fair value of derivative liabilities | |
| - | | |
| (885,279 | ) | |
| (885,279 | ) |
| Change in fair value of derivative liabilities - related party | |
| - | | |
| 562,000 | | |
| 562,000 | |
| Interest expense | |
| (3,422,784 | ) | |
| 28,882 | | |
| (3,393,902 | ) |
| Other income | |
| 295,342 | | |
| (295,141 | ) | |
| 201 | |
| Total other income (expense) | |
| (3,742,797 | ) | |
| (2,195,476 | ) | |
| (5,938,273 | ) |
| Income (loss) before income taxes | |
| (4,042,284 | ) | |
| (2,209,212 | ) | |
| (6,251,496 | ) |
| Income tax (provision) benefit | |
| 1,169,129 | | |
| 69,999 | | |
| 1,239,128 | |
| Net income (loss) | |
| (2,873,155 | ) | |
| (2,139,213 | ) | |
| (5,012,368 | ) |
| Net income (loss) attributable to NCI | |
| - | | |
| (28,535 | ) | |
| (28,535 | ) |
| Net income (loss) attributable to Eon Resources, Inc. | |
$ | (2,873,155 | ) | |
$ | (2,110,678 | ) | |
$ | (4,983,833 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average share outstanding, common stock - basic and diluted | |
| 18,809,177 | | |
| | | |
| 18,809,177 | |
| Net income (loss) per share of common stock – basic and diluted | |
$ | (0.15 | ) | |
| (0.11 | ) | |
$ | (0.26 | ) |
| Condensed Consolidated Balance Sheet | |
As of June 30, 2025 | |
| | |
As Reported | | |
Adjustment | | |
As Restated | |
| | |
| | |
| | |
| |
| Accounts receivable – Crude Oil and natural gas sales | |
$ | 1,433,262 | | |
$ | 74,402 | | |
$ | 1,507,664 | |
| Prepaid expenses and other current assets | |
| 488,183 | | |
| 861,056 | | |
| 1,349,239 | |
| Total current Assets | |
| 5,875,645 | | |
| 935,458 | | |
| 6,811,103 | |
| Crude oil and natural gas properties, successful efforts method: | |
| | | |
| | | |
| | |
| Proved Properties | |
| 103,382,842 | | |
| (1,043,485 | ) | |
| 102,339,357 | |
| Total oil and natural gas properties, net | |
| 100,068,351 | | |
| (1,043,485 | ) | |
| 99,024,866 | |
| Other noncurrent asset | |
| - | | |
| 213,750 | | |
| 213,750 | |
| Total Assets | |
$ | 105,963,996 | | |
$ | 105,723 | | |
$ | 106,069,719 | |
| | |
| | | |
| | | |
| | |
| Accounts payable | |
$ | 6,279,528 | | |
$ | (357,729 | ) | |
$ | 5,921,799 | |
| Accrued liabilities and other | |
| 9,118,446 | | |
| 442,584 | | |
| 9,561,030 | |
| Royalties payable | |
| 4,434,575 | | |
| 536,896 | | |
| 4,971,471 | |
| Total current liabilities | |
| 27,607,625 | | |
| 621,751 | | |
| 28,229,376 | |
| Asset retirement obligations | |
| 1,430,899 | | |
| (236,033 | ) | |
| 1,194,866 | |
| Deferred tax liability | |
| 1,523,603 | | |
| (69,999 | ) | |
| 1,453,604 | |
| Derivative liabilities | |
| - | | |
| 728,582 | | |
| 728,582 | |
| Derivative liabilities, related parties | |
| - | | |
| 2,088,000 | | |
| 2,088,000 | |
| Total for non-current liabilities | |
| 40,139,959 | | |
| 2,510,550 | | |
| 42,650,509 | |
| Total Liabilities | |
| 67,747,584 | | |
| 3,132,301 | | |
| 70,879,885 | |
| | |
| | | |
| | | |
| | |
| Redeemable common stock | |
| - | | |
| 800,000 | | |
| 800,000 | |
| | |
| | | |
| | | |
| | |
| Class A Common Stock | |
| 3,435 | | |
| (40 | ) | |
| 3,395 | |
| Additional paid in capital | |
| 48,064,746 | | |
| 962,675 | | |
| 49,027,421 | |
| Accumulated deficit | |
| (31,072,183 | ) | |
| (581,448 | ) | |
| (31,653,631 | ) |
| Total stockholders’ deficit attributable to EON Resources, Inc. | |
| 16,995,998 | | |
| 381,187 | | |
| 17,377,185 | |
| Noncontrolling Interest | |
| 21,220,414 | | |
| (4,207,765 | ) | |
| 17,012,649 | |
| Total Stockholders’ Equity | |
| 38,216,412 | | |
| (3,826,578 | ) | |
| 34,389,834 | |
| Total Liabilities and Stockholders Equity | |
$ | 105,963,996 | | |
$ | 105,723 | | |
$ | 106,069,719 | |
| | |
Three Months Ended September 30, 2025 | |
| | |
As Reported | | |
Adjustments | | |
As Restated | |
| Revenues | |
| | |
| | |
| |
| Crude Oil | |
$ | 4,351,800 | | |
$ | (117,945 | ) | |
$ | 4,233,855 | |
| Natural gas and natural gas liquids | |
| 132,466 | | |
| (26,832 | ) | |
| 105,634 | |
| Total revenues | |
| 4,364,341 | | |
| (144,777 | ) | |
| 4,219,564 | |
| | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | |
| Production taxes, transportation and processing | |
| 435,539 | | |
| (12,491 | ) | |
| 423,048 | |
| Lease operating | |
| 2,545,969 | | |
| 203,248 | | |
| 2,749,217 | |
| General and administrative | |
| 2,591,296 | | |
| 54,001 | | |
| 2,645,297 | |
| Total expenses | |
| 6,129,063 | | |
| 244,758 | | |
| 6,373,821 | |
| Operating loss | |
| (1,764,722 | ) | |
| (389,535 | ) | |
| (2,154,257 | ) |
| Amortization of financing costs | |
| (399,697 | ) | |
| (21,526 | ) | |
| (421,223 | ) |
| Change in fair value of derivative liabilities | |
| - | | |
| (779,187 | ) | |
| (779,187 | ) |
| Change in fair value of derivative liabilities - related party | |
| - | | |
| (563,000 | ) | |
| (563,000 | ) |
| Interest expense | |
| (1,220,390 | ) | |
| (67,329 | ) | |
| (1,287,719 | ) |
| Gain on extinguishment of liabilities | |
| 1,846,684 | | |
| (19,481 | ) | |
| 1,827,203 | |
| Total other income (expense) | |
| 13,650,069 | | |
| (1,450,523 | ) | |
| 12,199,546 | |
| Income (loss) before income taxes | |
| 11,885,347 | | |
| (1,840,058 | ) | |
| 10,045,289 | |
| Income tax (provision) benefit | |
| (6,260,472 | ) | |
| 178,606 | | |
| (6,081,866 | ) |
| Net income (loss) | |
| 5,624,875 | | |
| (1,661,452 | ) | |
| 3,963,423 | |
| Net income (loss) attributable to Eon Resources, Inc. | |
$ | 5,624,875 | | |
$ | (1,661,452 | ) | |
$ | 3,963,423 | |
| | |
| | | |
| | | |
| | |
| Weighted average share outstanding, common stock – basic | |
| 38,073,390 | | |
| - | | |
| 38,073,390 | |
| Weighted average share outstanding, common stock - diluted | |
| 54,964,640 | | |
| - | | |
| 54,964,640 | |
| Net income (loss) per share of common stock – basic | |
$ | 0.15 | | |
| (0.05 | ) | |
$ | 0.10 | |
| Net income (loss) per share of common stock –diluted | |
$ | 0.10 | | |
| (0.03 | ) | |
$ | 0.07 | |
| | |
Nine Months Ended September 30, 2025 | |
| | |
As Reported | | |
Adjustments | | |
As Restated | |
| Revenues | |
| | |
| | |
| |
| Crude Oil | |
$ | 12,265,145 | | |
$ | (43,543 | ) | |
$ | 12,221,602 | |
| Natural gas and natural gas liquids | |
| 339,838 | | |
| (111,832 | ) | |
| 228,006 | |
| Total revenues | |
| 13,512,087 | | |
| (155,375 | ) | |
| 13,356,712 | |
| | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | |
| Lease operating expenses | |
| 6,460,744 | | |
| 838,282 | | |
| 7,299,026 | |
| General and administrative | |
| 6,616,885 | | |
| (354,353 | ) | |
| 6,262,532 | |
| Total Expenses | |
| 15,340,263 | | |
| 483,929 | | |
| 15,824,192 | |
| Operating loss | |
| (1,828,176 | ) | |
| (639,304 | ) | |
| (2,467,480 | ) |
| Gain on extinguishment of liabilities | |
| 2,146,285 | | |
| (1,625,419 | ) | |
| 520,866 | |
| Amortization of financing costs | |
| (1,069,514 | ) | |
| (21,526 | ) | |
| (1,091,040 | ) |
| Change in fair value of derivative liabilities | |
| - | | |
| (1,664,466 | ) | |
| (1,664,466 | ) |
| Change in fair value of derivative liabilities - related party | |
| - | | |
| (1,000 | ) | |
| (1,000 | ) |
| Interest expense | |
| (4,643,174 | ) | |
| (38,447 | ) | |
| (4,681,621 | ) |
| Other income | |
| 295,342 | | |
| (295,141 | ) | |
| 201 | |
| Total other income (expense) | |
| 9,907,272 | | |
| (3,645,999 | ) | |
| 6,261,273 | |
| Income (loss) before income taxes | |
| 8,079,096 | | |
| (4,285,303 | ) | |
| 3,793,793 | |
| Income tax (provision) benefit | |
| (5,091,343 | ) | |
| 248,605 | | |
| (4,842,738 | ) |
| Net income (loss) | |
| 2,987,753 | | |
| (4,036,698 | ) | |
| (1,048,945 | ) |
| Net income (loss) attributable to NCI | |
| - | | |
| (28,535 | ) | |
| (28,535 | ) |
| Net income (loss) attributable to Eon Resources, Inc. | |
$ | 2,987,753 | | |
$ | (4,008,163 | ) | |
$ | (1,020,410 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average share outstanding, common stock - basic | |
| 25,301,146 | | |
| - | | |
| 25,301,146 | |
| Weighted average share outstanding, common stock - diluted | |
| 47,789,972 | | |
| (22,488,826 | ) | |
| 25,301,146 | |
| Net income (loss) per share of common stock – basic | |
$ | 0.12 | | |
| (0.16 | ) | |
$ | (0.04 | ) |
| Net income (loss) per share of common stock – diluted | |
$ | 0.07 | | |
| (0.11 | ) | |
$ | (0.04 | ) |
| Condensed Consolidated Balance Sheet | |
As of September 30, 2025 | |
| | |
As Reported | | |
Adjustment | | |
As Restated | |
| | |
| | |
| | |
| |
| Prepaid expenses and other current assets | |
$ | 2,631,633 | | |
$ | (1,136,594 | ) | |
$ | 1,495,039 | |
| Total current Assets | |
| 5,317,897 | | |
| (1,136,594 | ) | |
| 4,181,303 | |
| Crude oil and natural gas properties, successful efforts method: | |
| | | |
| | | |
| | |
| Proved Properties | |
| 87,041,010 | | |
| 7,672 | | |
| 87,048,682 | |
| Total oil and natural gas properties, net | |
| 84,177,401 | | |
| 7,672 | | |
| 84,185,073 | |
| Other noncurrent assets | |
| - | | |
| 1,630,000 | | |
| 1,630,000 | |
| Total Assets | |
$ | 89,515,298 | | |
$ | 501,078 | | |
$ | 90,016,376 | |
| | |
| | | |
| | | |
| | |
| Accounts payable | |
$ | 5,859,332 | | |
$ | (190,232 | ) | |
$ | 5,669,100 | |
| Accrued liabilities and other | |
| 3,911,147 | | |
| 1,037,318 | | |
| 4,948,465 | |
| Royalties payable | |
| 4,023,291 | | |
| 601,491 | | |
| 4,624,782 | |
| Total current liabilities | |
| 15,258,502 | | |
| 1,448,577 | | |
| 16,707,079 | |
| Convertible note liability, net of discount | |
| 4,392,087 | | |
| (150,035 | ) | |
| 4,242,052 | |
| Deferred tax liability | |
| 7,067,245 | | |
| (248,605 | ) | |
| 6,818,640 | |
| Derivative liabilities | |
| - | | |
| 808,133 | | |
| 808,133 | |
| Derivative liabilities, related parties | |
| - | | |
| 2,651,000 | | |
| 2,651,000 | |
| Total for non-current liabilities | |
| 13,358,587 | | |
| 3,060,493 | | |
| 16,419,080 | |
| Total Liabilities | |
| 28,617,089 | | |
| 4,509,070 | | |
| 33,126,159 | |
| | |
| | | |
| | | |
| | |
| Redeemable common stock | |
| - | | |
| 800,000 | | |
| 800,000 | |
| | |
| | | |
| | | |
| | |
| Class A Common Stock | |
| 4,503 | | |
| (40 | ) | |
| 4,463 | |
| Additional paid in capital | |
| 86,104,981 | | |
| (2,329,019 | ) | |
| 83,775,962 | |
| Accumulated deficit | |
| (25,211,275 | ) | |
| (2,478,933 | ) | |
| (27,690,208 | ) |
| Total stockholders’ deficit attributable to EON Resources, Inc. | |
| 60,898,209 | | |
| (4,807,992 | ) | |
| 56,090,217 | |
| Total Stockholders’ Equity | |
| 60,898,209 | | |
| (4,807,992 | ) | |
| 56,090,217 | |
| Total Liabilities and Stockholders Equity | |
$ | 89,515,298 | | |
$ | 501,078 | | |
$ | 90,016,376 | |
|