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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash $ 292,920 $ 326,822
Accounts receivables 1,529,254 3,517,469
Prepaid expenses and other assets 293,826 114,387
Inventory 2,685,943 2,437,181
Total current assets 4,801,943 6,395,859
Property, plant, and equipment 6,882,227 6,287,351
Oil and gas properties 8,435,197 7,745,205
Restricted cash 2,887,588 4,354,014
Right-of-use asset 132,093 184,548
Goodwill 3,209,003 3,209,003
Total assets 26,348,051 28,175,980
Current liabilities    
Accounts payable and accrued expenses 3,119,645 4,904,121
Current portion of operating lease liability 56,806 69,777
Warrant liability 1,936,937 0
Lines of credit 1,728,138 3,061,698
Current maturities of notes payable 8,749,719 4,835,567
Notes payable, less current maturities, net of debt issuance costs 2,057,198 2,100,514
Operating lease liability, net of current portion 77,824 116,246
Shareholders' Equity    
Preferred stock $0.001 par value: 25,000,000 shares authorized; 369,221 and 246,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 369 246
Common stock $0.0001 par value: 100,000,000 shares authorized: 17,446,512 and 16,323,091 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 1,744 1,632
Additional paid in capital 28,593,381 22,527,262
Accumulated other comprehensive loss (209,639) (201,505)
Accumulated deficit (19,764,071) (9,239,578)
Total shareholders' equity 8,621,784 13,088,057
Total liabilities and shareholders' equity 26,348,051 28,175,980
Total current liabilities 15,591,245 12,871,163
Total Liabilities $ 17,726,267 $ 15,087,923