v3.26.3
Restatement of Previously Issued Consolidated Financial Statements (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Restatement of Previously Issued Consolidated Financial Statements [Abstract]    
Schedule of Consolidated Balance Sheet  
Consolidated Balance Sheet  As of December 31, 2025 
   As Reported   Adjustment   As Restated 
             
Crude oil and natural gas properties, successful efforts method:            
Accumulated depreciation, depletion, and amortization, net  $(8,491,565)  $3,540,000   $(4,951,565)
Total oil and natural gas properties, net   81,951,796    3,540,000    85,491,796 
Total Assets  $86,938,586   $3,540,000   $90,478,586 
                
Accrued liabilities and other  $9,784,912   $37,000    9,821,912 
Total current liabilities   24,889,896    37,000    24,926,896 
Deferred tax liability   3,959,392    871,000    4,830,392 
Total non-current liabilities   10,893,391    871,000    11,764,391 
Total liabilities   35,783,287    908,000    36,691,287 
                
Accumulated deficit   (36,767,880)   2,632,000    (34,135,880)
Total stockholders’ deficit attributable to EON Resources, Inc.   50,355,299    2,632,000    52,987,299 
Total Stockholders’ Equity   50,355,299    2,632,000    52,987,299 
Total Liabilities, Mezzanine Equity and Stockholders Equity  $86,938,586   $3,540,000   $90,478,586 
Schedule of Consolidated Statement of Operations  
Consolidated Statement of Operations  Year Ended December 31 2025 
   As Reported   Adjustments   As Restated 
             
Expenses            
Depletion, depreciation and amortization  $6,710,092   $(3,540,000)  $3,170,092 
Total expenses   30,738,109    (3,540,000)   27,198,109 
Operating loss   (13,801,545)   3,540,000    (10,261,545)
Income (loss) before income taxes   (8,213,063)   3,540,000    (4,673,063)
Income tax (provision) benefit   (1,913,554)   (908,000)   (2,821,554)
Net income (loss)   (10,126,617)   2,632,000    (7,494,617)
Net income (loss) attributable to Eon Resources, Inc.  $(10,098,082)  $2,632,000   $(7,466,082)
                
Weighted average share outstanding, common stock – basic and diluted   31,191,907    
-
    31,191,907 
                
Net income (loss) per share of common stock –basic and diluted  $(0.32)   0.08   $(0.24)
Schedule of Consolidated Statements of Changes in Stockholders’ Equity
                           Total         
                           Stockholders’         
   Class A   Class B   Additional       (Deficit) Equity
Attributable to 
EON		       Total
Stockholders’		 
   Common Stock   Common Stock   Paid-In   Accumulated   Resources   Noncontrolling   (Deficit) 
As previously reported  Shares   Amount   Shares   Amount   Capital   Deficit   Inc.   Interest   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 

 

(a)These adjustments represent the restatements previously disclosed in the Company's 2024 Form 10-K/A as previously filed with the SEC on April 27, 2026.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

 

                           Total
Stockholders’		         
   Class A   Class B   Additional       Equity
Attributable 
to Eon		       Total 
   Common Stock   Common Stock   Paid-In   Accumulated   Resources   Noncontro4lling   Stockholder’4 
   Shares   Amount   Shares   Amount   Capital   deficit   Inc.   Interest   Equity 
As Previously Reported                                    
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 
Shares issued under equity line of credit   14,770,000    1,477    
-
    
-
    8,500,775    
-
    8,502,252    
-
    8,502,252 
Share-based compensation   1,783,668    178    
-
    
-
    1,154,212    
-
    1,154,390    
-
    1,154,390 
Class B exchanged for Class A   500,000    50    (500,000)   (50)   3,385,000    
-
    3,385,000    (3,385,000)   
-
 
Shares issued for conversion of notes payable   21,120,163    2,112    
-
    
-
    8,483,316    
-
    8,485,428    
-
    8,485,428 
Shares issued for buyout of non-controlling interest   1,500,000    150    
-
    
-
    17,012,499    
-
    17,012,649    (17,012,649)   
-
 
Shares issued to settle accounts payable   143,665    14    
-
    
-
    94,343    
-
    94,357    
-
    94,357 
Shares issued for acquisition of oil and gas equipment   1,000,000    100    
-
    
-
    547,500    
-
    547,600    
-
    547,600 
Shares issued for acquisition of oil and gas leases   1,000,000    100    
-
    
-
    547,500    
-
    547,600    
-
    547,600 
Derivative liability conversion to common stock   -    
-
    -    
-
    3,440,412    
-
    3,440,412    
-
    3,440,412 
Capital Contribution for related party debt extinguishment   -    
-
    -    
-
    13,440,406    
-
    13,440,406    
-
    13,440,406 
Net loss   -    
-
    -    
-
    
-
    (10,098,082)   (10,098,082)   (28,535)   (10,126,617)
Balance – December 31, 2025   51,740,701   $5,173    
-
   $
-
   $87,118,006   $(36,767,880)  $50,355,299   $
-
   $50,355,299 
                                              
Restatement Impacts                                             
Net loss   -    
-
    -    
-
    
-
    2,632,000    2,632,000    
-
    2,632,000 
    
-
    
-
    
-
    
-
    
-
    2,632,000    2,632,000    
-
    2,632,000 
                                              
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 
Shares issued under equity line of credit   14,770,000    1,477    
-
    
-
    8,500,775    
-
    8,502,252    
-
    8,502,252 
Share-based compensation   1,783,668    178    
-
    
-
    1,154,212    
-
    1,154,390    
-
    1,154,390 
Class B exchanged for Class A   500,000    50    (500,000)   (50)   3,385,000    
-
    3,385,000    (3,385,000)   
-
 
Shares issued for conversion of notes payable   21,120,163    2,112    
-
    
-
    8,483,316    
-
    8,485,428    
-
    8,485,428 
Shares issued for buyout of non-controlling interest   1,500,000    150    
-
    
-
    17,012,499    
-
    17,012,649    (17,012,649)   
-
 
Shares issued to settle accounts payable   143,665    14    
-
    
-
    94,343    
-
    94,357    
-
    94,357 
Shares issued for acquisition of oil and gas equipment   1,000,000    100    
-
    
-
    547,500    
-
    547,600    
-
    547,600 
Shares issued for acquisition of oil and gas leases   1,000,000    100    
-
    
-
    547,500    
-
    547,600    
-
    547,600 
Derivative liability conversion to common stock   -    
-
    -    
-
    3,440,412    
-
    3,440,412    
-
    3,440,412 
Capital Contribution for related party debt extinguishment   -    
-
    -    
-
    13,440,406    
-
    13,440,406    
-
    13,440,406 
Net loss   -    
-
    -    
-
    
-
    (7,466,082)   (7,466,082)   (28,535)   (7,494,617) 
Balance – December 31, 2025   51,740,701   $5,173    
-
   $
-
   $87,118,006   $(34,135,880)  $52,987,299   $
-
   $52,987,299 
Schedule of Consolidated Statement of Cash Flows
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 
Consolidated Statement of Cash Flows  Year Ended December 31 2025 
   As
Reported		   Adjustments   As
Restated		 
             
Net loss  $(10,126,617)  $2,632,000   $(7,494,617)
Depreciation, depletion, and amortization expense   6,710,092    (3,540,000)   3,170,092 
Deferred income tax benefit   1,266,659    871,000    2,137,659 
Accrued liabilities and other   4,898,434    37,000    4,935,434
Net cash provided by operating activities   (7,645,418)   
-
    (7,645,418)