v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (22,527,585) $ (1,924,225)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation, depletion and amortization 55,337 7,676
Share exchange success fee 12,390,251
Loss from extinguishment of debt 41,237
Amortization of debt discount 86,286
Share based payments 786,000
Impairment of oil and gas properties 198,950
Patent cost write off 10,508
Accrued interest 299,041
Change in fair value of warrant liability (45,965) 809,602
Issuance costs of derivative instruments 3,342,300
Changes in operating assets and liabilities:    
Decrease in accounts receivable 215
Decrease in government grant receivable 276,407 (289,400)
Increase in prepaid expenses and other current assets (368,689) (144,075)
Increase in other assets (11,974)
Increase in other payables 84,288 152
Increase in accounts payable and accrued expenses 777,248 167,630
Net cash (used in) operating activities (4,606,145) (1,372,640)
CASH FLOWS FROM INVESTING ACTIVITIES    
Note receivable - related party   (400,000)
Payment related to patent application costs (377,337) (347,127)
Land acquisition (8,414,670)
Cash acquired in Share Exchange 6,952,914
Net cash (used in) investing activities (1,839,093) (747,127)
CASH FLOWS FROM FINANCING ACTIVITIES    
Capital contributions 941,375 2,100,000
Proceeds from issuance of convertible note 5,000,000
Cash received from ELOC draw downs 1,638,597
HUSA Convertible Note repayments (583,386)
Note payable – related party 435,000
Net cash provided by financing activities 7,431,586 2,100,000
Increase in cash 986,348 (19,767)
Cash, beginning of period 525,809 390,324
Cash, end of period 1,512,157 370,557
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES    
Net assets assumed in Share Exchange 14,791,697
Issuance costs from derivative instruments (3,342,300)
Non-cash shareholder contributions $ 12,390,251