Note 11 — Restatement of Previously Issued Unaudited Interim Condensed Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 2026

Notes Tables

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

Condensed Consolidated Statements of Operations		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, Mezzanine Equity and Stockholders Equity		$	103,860,046			$	(36,870	)		$	103,823,176

																										Total
																										Stockholders’
		*Class A*								*Class B*								*Additional*								(Deficit) Equity Attributable to EON								Total Stockholders’
		*Common Stock*								*Common Stock*								*Paid-In*				*Accumulated*				*Resources*				*Noncontrolling*				*(Deficit)*
		*Shares*				*Amount*				*Shares*				*Amount*				*Capital*				*Deficit*				*Inc.*				*Interest*				*Equity*
As Previously Reported
Balance – December 31, 2024			10,323,205			$	1,032				500,000			$	50			$	31,312,003			$	(28,199,028	)		$	3,114,057			$	24,605,414			$	27,719,471

Share-based compensation			325,457				33				-				-				368,060				-				368,093				-				368,093
Shares issued under equity line of credit			4,770,000				477				-				-				4,341,055				-				4,341,532				-				4,341,532
Shares issued for conversion of note payables			1,954,514				195				-				-				1,786,046				-				1,786,241				-				1,786,241
Shares issued to settle accounts payable			45,050				5				-				-				45,045				-				45,050				-				45,050
Class B exchanged for Class A			500,000				50				(500,000	)			(50	)			3,385,000				-				3,385,000				(3,385,000	)			-
Net loss			-				-				-				-				-				(1,752,231	)			(1,752,231	)			-				(1,752,231	)
Balance – March 31, 2025			17,918,226			$	1,792				-			$	-			$	41,237,209			$	(29,951,259	)		$	11,287,742			$	21,220,414			$	32,508,156

Restatement Impacts
Balance – December 31, 2024 ^(a)			(400,000	)		$	(40	)			-			$	-			$	(799,960	)		$	1,529,230			$	729,230			$	(4,179,230	)		$	(3,450,000	)
Derivative liability conversion to common stock			-				-				-				-				397,188				-				397,188				-				397,188
Net loss			-				-				-				-				-				(275,753	)			(275,753	)			(28,535	)			(304,288	)
Balance – March 31, 2025			(400,000	)		$	(40	)			-			$	-			$	(402,772	)		$	1,253,477			$	850,665			$	(4,207,765	)		$	(3,357,100	)

As Restated
Balance – December 31, 2024			9,923,205			$	992				500,000			$	50			$	30,512,043			$	(26,669,798	)		$	3,843,287			$	20,426,184			$	24,269,471

Share-based compensation			325,457				33				-				-				368,060				-				368,093				-				368,093
Shares issued under equity line of credit			4,770,000				477				-				-				4,341,055				-				4,341,532				-				4,341,532
Shares issued for conversion of note payables			1,954,514				195				-				-				1,786,046				-				1,786,241				-				1,786,241
Shares issued to settle accounts payable			45,050				5				-				-				45,045				-				45,050				-				45,050
Derivative liability conversion to common stock			-				-				-				-				397,188				-				397,188				-				397,188
Class B exchanged for Class A			500,000				50				(500,000	)			(50	)			3,385,000				-				3,385,000				(3,385,000	)			-
Net loss			-				-				-				-				-				(2,027,984	)			(2,027,984	)			(28,535	)			(2,056,519	)
Balance – March 31, 2025			17,518,226			$	1,752				-			$	-			$	40,834,437			$	(28,697,782	)		$	12,138,407			$	17,012,649			$	29,151,056

Condensed Consolidated Statement of Cash Flows		Three Months Ended March 31, 2025
		As Reported				Adjustment				As Restated


Net Income		$	(1,752,231	)		$	(304,288	)		$	(2,056,519	)
Accretion of asset retirement obligations			335,771				(328,779	)			6,992
Deferred income tax benefit			(770,385	)			65,516				(704,869	)
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 liability, related party			-				(113,000	)			(113,000	)
Accounts payable			(1,723,056	)			(282,436	)			(2,005,492	)
Accrued liabilities and other			615,057				(130,614	)			484,443
Royalties payable			926,300				479,767				1,406,067
Net cash used in operating activities			(1,827,355	)			-				(1,827,355	)