Business Segment Information and Geographic Data

9 Months Ended

Sep. 30, 2023

Business Segment Information and Geographic Data

Business Segment Information and Geographic Data

Note 16. Business Segment Information and Geographic Data

The Company has two reportable segments: Power Generation and Oil and Gas Exploration. The power generation segment provides custom energy and power solutions to commercial and industrial clients in North America and the oil and gas segment is involved in exploration and production with properties in central and southern United States. We evaluate segment performance based on revenue and operating income (loss).

Information related to our reportable segments and our consolidated results for the nine months ended September 30, 2023 is presented below.

	Nine Months Ended September 30, 2023
	Oil and Gas			Power Generation			Total
Loss from Operations is as follows:
Revenue	$	705,230		$	23,702,353		$	24,407,583
Operating expenses
Cost of goods		-			16,256,686			16,256,686
Lease operating costs		534,123			-			534,123
General and administrative		2,901,072			7,163,635			10,064,707
Stock based compensation		-			-			-
Accretion - ARO		67,599			-			67,599
Depreciation, depletion and amortization		398,722			299,339			698,061
Total operating expenses		3,901,516			23,719,660			27,621,176
Loss from operations	$	(3,196,286	)	$	(17,307	)	$	(3,213,593	)
Assets
Segment assets	$	4,377,462		$	24,644,370		$	29,021,832
Corporate and unallocated assets								54,639,996
Total Consolidated Assets							$	83,661,828

	Nine Months Ended September 30, 2022
	Oil and Gas			Power Generation			Total
Loss from Operations is as follows:
Revenue	$	3,666,726		$	14,999,542		$	18,666,268
Operating expenses
Cost of goods		-			9,871,239			9,871,239
Lease operating costs		1,429,847			-			1,429,847
General and administrative		3,570,740			7,637,677			11,208,417
Stock based compensation		1,614,334			-			1,614,334
Accretion - ARO		107,869			-			107,869
Depreciation, depletion and amortization		1,022,643			304,018			1,326,661
Total operating expenses		7,745,433			17,812,934			25,558,367
Loss from operations	$	(4,078,707	)	$	(2,813,392	)	$	(6,892,099	)
Assets
Segment assets	$	4,732,923		$	23,919,207		$	28,652,130
Corporate and unallocated assets								22,329,188
Total Consolidated Assets							$	50,981,318