XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 1,182,837 $ (30,097,506)
Adjustments to reconcile net income (loss) to cash provided by (used) in operating activities:    
Change in fair value of derivative liability (266,891) 21,242,198
Stock-based compensation 5,761 305,000
Depreciation, depletion and amortization 213,810 411,129
Amortization of right-of-use assets 410,832 811,589
Equity in earnings of unconsolidated entity (132,137) 0
Amortization of debt discount 1,595,577 1,727,351
Loss on extinguishment of debt 0 811,132
Gain on partial disposal of interest in subsidiary (6,169,824) 0
Loss on disposal of oil and gas properties 0 755,506
Accretion - asset retirement obligation 0 536
Foreign currency translation adjustment 84,734 (36,438)
Changes in operating assets and liabilities:    
Accounts receivable, net 847,502 2,028,461
Inventory, net 1,594,832 247,611
Prepaids and other assets (136,494) (189,544)
Accounts payable 314,809 3,065,394
Accrued expenses and other current liabilities (976,151) (1,829,257)
Due to related parties 0 166,806
Customer deposits (167,027) (21,664)
Operating lease liabilities (391,476) (811,566)
Undistributed revenues and royalties 0 3,449
Net cash used in operating activities (1,989,306) (1,409,813)
Cash flows from investing activities:    
Proceeds from sale of oil and gas properties 0 205,000
Acquisition of fixed assets (16,136) (46,016)
Payments received on notes receivable 42,162 0
Deconsolidation of Simson-Maxwell cash balance (4,730) 0
Net cash provided by investing activities 21,296 158,984
Cash flows from financing activities:    
Issuance (repayment) of long-term debt, net 1,898,590 (1,359)
Advances from (repayment of) bank credit facility (154,676) 1,015,166
Advance from related party 200,000 0
Repayment of promissory notes, related parties (16,170) (61,005)
Net cash provided by financing activities 1,927,744 952,802
Net decrease in cash and cash equivalents (40,266) (298,027)
Cash and cash equivalents, beginning of period 114,648 906,060
Cash and cash equivalents, end of period 74,382 608,033
Cash paid for:    
Interest 181,630 259,693
Income taxes 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Issuance of warrants for services 5,761 0
Issuance of shares on true-up of Series C Preferred Stock 0 9,154,297
Common stock to be issued related to prior conversions of Series C Preferred Stock 0 12,748,531
Issuance of common stock on conversion of debt 0 3,645,821
Issuance of common stock on conversion of accrued interest on debt 0 285,030
Acquisition of right of use assets through operating lease $ 0 $ 1,058,331