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

6 Months Ended

Jun. 30, 2026

Notes Tables

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

Condensed Consolidated Statements of Operations		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 NCI			-				-				-
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	)

Condensed Consolidated Statements of Operations		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, Mezzanine Equity and Stockholders Equity		$	105,963,996			$	105,723			$	106,069,719

																										Total
																										Stockholders'
		Class A								Class B								Additional								(Deficit) Equity								Total
		Common Stock								Common Stock								Paid In				Accumulated				Attributable to				Noncontrolling				Stockholders'
As previously reported		Shares				Amount				Shares				Amount				Capital				deficit				EON Resources Inc.				Interest				(Deficit) Equity
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

Share based compensation			328,800				33				-				-				237,652				-				237,685				-				237,685
Shares issued under equity line of credit			6,000,000				600				-				-				2,682,200				-				2,682,800				-				2,682,800
Shares issued for conversion of notes payable			7,999,466				800				-				-				2,763,387				-				2,764,187				-				2,764,187
Shares issued to settle accounts payable			98,615				10				-				-				49,298				-				49,308				-				49,308
Shares issued for acquisition of oil and gas leases			1,000,000				100				-				-				547,500				-				547,600				-				547,600
Shares issued for acquisition of oil and gas equipment			1,000,000				100				-				-				547,500				-				547,600				-				547,600
Net loss			-				-				-				-								(1,300,479	)			(1,300,479	)			-				(1,300,479	)
Balance - June 30, 2025			34,345,107			$	3,435				-			$	-			$	48,064,746			$	(31,251,738	)		$	16,816,443			$	21,220,414			$	38,036,857

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	)
Derivative liability conversion to common stock			-				-				-				-				1,365,447				-				1,365,447				-				1,365,447
Net loss			-				-				-				-								(1,655,370	)			(1,655,370	)			-				(1,655,370	)
Balance - June 30, 2025			(400,000	)		$	(40	)			-			$	-			$	962,675			$	(401,893	)		$	560,742			$	(4,207,765	)		$	(3,647,023	)

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
Share based compensation			328,800				33				-				-				237,652				-				237,685				-				237,685
Shares issued under equity line of credit			6,000,000				600				-				-				2,682,200				-				2,682,800				-				2,682,800
Shares issued for conversion of notes payable			7,999,466				800				-				-				2,763,387				-				2,764,187				-				2,764,187
Shares issued to settle accounts payable			98,615				10				-				-				49,298				-				49,308				-				49,308
Shares issued for acquisition of oil and gas leases			1,000,000				100				-				-				547,500				-				547,600				-				547,600
Shares issued for acquisition of oil and gas equipment			1,000,000				100				-				-				547,500				-				547,600				-				547,600
Derivative liability conversion to common stock			-				-				-				-				1,365,447				-				1,365,447				-				1,365,447
Net loss			-				-				-				-								(2,955,849	)			(2,955,849	)			-				(2,955,849	)
Balance - June 30, 2025			33,945,107			$	3,395				-			$	-			$	49,027,421			$	(31,653,631	)		$	17,377,185			$	17,012,649			$	34,389,834

Condensed Consolidated Statement of Cash Flows		Six Months Ended June 30, 2025
Operating activities:		As Reported				Adjustment				As Restated
Net income		$	(2,873,155	)		$	(2,139,213	)		$	(5,012,368	)
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of asset retirement obligations			251,538				(236,033	)			15,505
Deferred income tax benefit			(1,169,130	)			(69,998	)			(1,239,128	)
Gain on extinguishment of liabilities			(299,601	)			1,605,938				1,306,337
Change in fair value of derivative liability			-				885,279				885,279
Change in fair value of derivative liability, related party			-				(562,000	)			(562,000	)
Changes in operating assets and liabilities:
Accounts receivable			130,087				(74,402	)			55,685
Prepaid expenses and other assets			(189,297	)			(313,457	)			(502,754	)
Purchase of plugging & abandonment insurance bonds			-				(213,750	)			(213,750	)
Accounts payable			(1,681,028	)			(361,844)				(2,042,872	)
Accrued liabilities and other			1,367,083				442,584				1,809,667
Royalties payable			1,243,404				536,896				1,780,300
Net cash used in operating activities			(1,796,949	)			(500,000)				(2,296,949	)
Investing activities:
Development of crude oil and gas properties			(2,638,532	)			500,000				(2,138,532	)
Net cash used in investing activities			(2,638,532	)			500,000				(2,138,532	)

Non Cash Investing/Financing
Accrued purchases of property and equipment			766,104				(4,115)				761,989