Business Segment Information and Geographic Data

6 Months Ended

Jun. 30, 2024

Business Segment Information and Geographic Data

Business Segment Information and Geographic Data

Note 15. 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 six months ended June 30, 2024 is presented below.

	Six Months Ended June 30, 2024
	Oil and Gas			Power Generation			Total
Loss from Operations is as follows:
Revenue	$	94,499		$	18,117,994		$	18,212,493
Operating expenses
Cost of goods		-			12,764,983			12,764,983
Lease operating costs		22,349			-			22,349
General and administrative		2,492,068			5,737,659			8,229,727
Stock based compensation		304,500			-			305,000
Accretion - ARO		536			-			536
Depreciation, depletion and amortization		199,546			211,583			411,129
Total operating expenses		3,019,499			18,714,225			21,733,724
Loss from operations	$	(2,925,000	)	$	(596,231	)	$	(3,521,231	)
Assets
Segment assets	$	1,121,196		$	22,752,146		$	23,873,342
Corporate and unallocated assets								55,108,263
Total Consolidated Assets							$	78,981,605

	Six Months Ended June 30, 2023
	Oil and Gas			Power Generation			Total
Income (Loss) from Operations is as follows:
Revenue	$	471,406		$	13,805,107		$	14,276,513
Operating expenses
Cost of goods		-			9,602,970			9,602,970
Lease operating costs		326,192			-			326,192
General and administrative		1,713,676			4,793,545			6,507,221
Stock based compensation		-			-			-
Accretion - ARO		49,638			-			49,638
Depreciation, depletion and amortization		265,154			195,547			460,701
Total operating expenses		2,354,660			14,592,062			16,946,722
Loss from operations	$	(1,883,254	)	$	(786,955	)	$	(2,670,209	)
Assets
Segment assets	$	2,181,277		$	24,696,964		$	26,878,241
Corporate and unallocated assets								20,158,938
Total Consolidated Assets							$	47,037,179