XML 14 R2.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 2,324 $ 81
Restricted cash, current 1,000 1,000
Prepaid expenses and other current assets 2,946 2,059
Inventory 33,899 35,662
Total current assets 49,383 44,762
LONG-TERM ASSETS    
Total property and equipment, net 50,980 52,433
Operating lease right-of-use assets, net 259 456
Surety bonds 350 1,255
Deferred tax assets, net 4,144 2,990
Total long-term assets 55,733 57,134
TOTAL ASSETS 105,116 101,896
CURRENT LIABILITIES    
Current portion of lease liabilities 286 264
Income taxes payable 60 18
Asset retirement obligations, current portion 6,025 2,999
Accrued expenses and other current liabilities 5,437 6,689
Total current liabilities 72,448 63,901
LONG-TERM LIABILITIES    
Long-term lease liabilities, net of current 0 191
Total long-term liabilities 3,859 5,032
TOTAL LIABILITIES 76,307 68,933
Commitments and contingencies (Note 14)
STOCKHOLDERS' EQUITY    
Common stock ($0.01 par value, 20,000,000 shares authorized; 14,921,968 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively) (1) [1] 149 149
Additional paid-in capital 39,758 39,758
Retained deficit (11,098) (6,944)
TOTAL STOCKHOLDERS' EQUITY 28,809 32,963
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 105,116 101,896
Nonrelated Party [Member]    
CURRENT ASSETS    
Accounts receivable 1,158 713
CURRENT LIABILITIES    
Long-term debt less unamortized debt issue costs, current portion (in default) 32,532 35,920
Interest payable 189 235
Accounts payable 13,158 11,630
LONG-TERM LIABILITIES    
Long-term debt, net of current portion (in default) 2,414 2,300
Related Party [Member]    
CURRENT ASSETS    
Accounts receivable 8,056 5,247
CURRENT LIABILITIES    
Line of credit, related party 11,925 3,250
Long-term debt, related party, current portion 2,555 1,459
Interest payable 281 1,437
Accounts payable 0 0
LONG-TERM LIABILITIES    
Long-term debt, net of current portion (in default) $ 1,445 $ 2,541
[1] Blue Dolphin has 2,500,000 shares of preferred stock, par value $0.10 per share, authorized. At September 30, 2025 and December 31, 2024, there were no shares of preferred stock issued and outstanding.