v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Aug. 31, 2026
May 31, 2026
Current Assets    
Cash and cash equivalents and restricted cash $ 147,211 $ 420,676
Receivables - related party 41,100 37,500
Prepaid expenses and other current assets 36,027 33,863
Total Current Assets 224,338 492,039
Property and Equipment    
Property and equipment, net 61,812 67,172
Total Property and Equipment, net 61,812 67,172
Investment in entity – related party 643,225 643,225
Other assets 10,000 10,000
TOTAL ASSETS 939,375 1,212,436
Current Liabilities    
Accounts payable 3,287,939 2,813,598
Accounts payable and accrued liabilities – related party 476,405 604,243
Accrued payroll liabilities 3,825,469 3,719,601
Accrued interest 801,512 724,792
Deferred well development costs 2,549,260 2,549,260
Convertible debt contributed for net working interest 575,000 575,000
Bridge securities, net of debt discount 362,264 202,261
Secured notes 1,060,061 1,060,061
Note payable – related party 212,099 292,099
Note payable – Alleghany, net of debt discount 617,934 617,934
Note payable, current portion 62,505 62,349
Total Current Liabilities 13,830,448 13,221,198
Asset retirement obligation 157,394 157,394
Long-term note, net of current portion 747,667 763,352
Total Noncurrent Liabilities 905,061 920,746
TOTAL LIABILITIES 14,735,509 14,141,944
Stockholders’ Deficit    
Preferred stock: $0.0001 par value; 10,000,000 shares authorized; none issued and outstanding  
Common stock: $0.0001 par value; 120,000,000 and 120,000,000 shares authorized; 85,495,558 and 84,244,558 issued and outstanding as of August 31, 2026 and May 31, 2026, respectively 8,550 8,424
Additional paid in capital 21,677,386 20,939,108
Accumulated deficit (35,482,070) (33,877,040)
Total Stockholders’ Deficit (13,796,134) (12,929,508)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 939,375 $ 1,212,436