v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 13,416,994 $ 2,623,970
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and depletion 3,870,972 885,140
Accretion and remeasurement of asset retirement obligation (497,333) 98,519
Share-based compensation 2,350,943 0
Changes in operating assets and liabilities:    
Accounts receivable (6,252,884) (825,050)
Prepaid expenses and other assets (2,254,651) (24,173)
Value-added tax receivable 156,671 (786,328)
Accounts payable and accrued expenses 2,638,852 4,578,415
Current and deferred tax asset/liability 2,089,518 0
Change in operating lease liability (27,432) (139,176)
Net cash provided by operating activities 15,491,650 6,411,317
Cash flows from investing activities    
Additions to renewable natural gas properties (26,107) (346,280)
Additions to conventional natural gas properties (10,613,068) (3,910,409)
Net cash used in investing activities (10,639,175) (4,256,689)
Cash flows from financing activities    
Proceeds from exercises of warrants 0 1,143,652
Proceeds from sale of common stock 431,744 0
Settlement of equity awards (85,603) 0
Payments for taxes related to net share settlement of equity awards (394,224) 0
Payment of contingent consideration related to business acquisition (10,760,420) 0
Net cash (used in) provided by financing activities (10,808,503) 1,143,652
Effect of foreign currency translation on cash (439,798) 742,947
Change in cash, cash equivalents and restricted cash during the period (6,395,826) 4,041,227
Cash, cash equivalents and restricted cash, beginning of period 33,130,959 28,330,159
Cash, cash equivalents and restricted cash, end of period 26,735,133 32,371,386
Supplemental disclosures:    
Decrease in right-of-use assets resulting from contract modification 1,627,033 0
Decrease in operating lease liabilities resulting from contract modification 1,585,743 0
Remeasurement of ARO $ 946,358 $ 0