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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss from continuing operations $ (16,506,198) $ (4,369,730)
Adjustment to reconcile net loss to net cash used in operating activities:    
Stock based compensation 3,450,775
Loss on adjustment to fair value – AR Debentures 741,000
Loss on adjustment to fair value – Obligation Shares 706,185
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (77,659) (404,103)
Accounts payable and accrued expenses 5,843,965 (1,837,050)
Accrued interest and expenses – related parties 17,249
Deferred financing costs (1,625,233)
Other assets and liabilities 6,447
Net cash used in continuing operating activities (8,907,903) (5,146,449)
Net cash provided by discontinued operations 460,217 86,074
Net cash used in operating activities (8,447,686) (5,060,375)
Cash flows from investing activities:    
Deposit on Nickel Road Asset Purchase (9,000,000)
Deposit on other oil and natural gas properties purchase (382,314)
Investments in oil and natural gas properties (3,544,816)
Acquisition of unproved oil and natural gas properties (3,000,000)
Cash received from sale of cryptocurrency miners 1,000,000
Note receivable related to sale of cryptocurrency miners 186,007
Deferred transaction costs related to Nickel Road Asset Purchase (100,056)
Cash acquired in connection with the Merger 42,360
Transaction expenses related to the Merger (308,452)
Net cash used in continuing investing activities (11,841,179) (3,266,092)
Net cash used in discontinued investing activities (169,097)
Net cash used in investing activities (11,841,179) (3,435,189)
Cash flows from financing activities:    
Proceeds from the exercise of Series D warrants 9,478,393
Proceeds from the issuance of Series D Preferred Stock and warrants 17,376,250
Financing costs associated with issuance of Series D Preferred Stock (409,048)
Net cash provided by continuing financing activities 9,478,393 16,967,202
Net cash provided by discontinued financing activities
Net cash provided by financing activities 9,478,393 16,967,202
Net (decrease) increase in cash and cash equivalents (10,810,472) 8,471,638
Cash and cash equivalents, beginning of period 13,036,950 79,845
Cash and cash equivalents, end of period $ 2,226,478 $ 8,551,483