Business Segment Information and Geographic Data

3 Months Ended

Mar. 31, 2024

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 three months ended March 31, 2024 is presented below.

	Three Months Ended March 31, 2024
	Oil and Gas			Power Generation			Total
Loss from Operations is as follows:
Revenue	$	66,631		$	8,225,901		$	8,292,532
Operating expenses
Cost of goods		-			5,907,762			5,907,762
Lease operating costs		22,349			-			22,349
General and administrative		1,107,671			2,712,330			3,820,001
Stock based compensation		304,999			-			304,999
Accretion - ARO		536			-			536
Depreciation, depletion and amortization		122,584			106,215			228,799
Total operating expenses		1,558,139			8,726,307			10,284,446
Loss from operations	$	(1,491,508	)	$	(500,406	)	$	(1,991,914	)
Assets
Segment assets	$	882,020		$	22,991,914		$	23,873,934
Corporate and unallocated assets								54,485,228
Total Consolidated Assets							$	78,359,162

	Three Months Ended March 31, 2023
	Oil and Gas			Power Generation			Total
Loss from Operations is as follows:
Revenue	$	245,197		$	6,998,992		$	7,244,189
Operating expenses
Cost of goods		-			4,786,631			4,786,631
Lease operating costs		125,363			-			125,363
General and administrative		828,479			2,221,842			3,050,321
Stock based compensation		-			-			-
Accretion - ARO		31,382			-			31,382
Depreciation, depletion and amortization		134,535			96,613			231,148
Total operating expenses		1,119,759			7,105,086			8,224,845
Loss from operations	$	(874,562	)	$	(106,094	)	$	(980,656	)
Assets
Segment assets	$	3,148,445		$	26,151,981		$	29,300,426
Corporate and unallocated assets								20,192,137
Total Consolidated Assets							$	49,492,563