XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.26.1

SEGMENT REPORTING | 3 Months Ended
--- | ---
Mar. 31, 2026
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 5 – SEGMENT REPORTING Upon completion of the Share Exchange, the Company re-evaluated its reporting segments. The Company determined it has two reporting segments on the basis of its operations, products, and the economic characteristics of each of its operating segments and corresponds to the manner in which its Chief Operating Decision Maker (“CODM”) reviews and evaluates performance to make decisions about resources to be allocated to the segment. As a result, the Company’s segment structure has been reassessed and now reflects the Company’s legacy O&G operations as well as its newly added emerging renewables initiatives (“Renewables”). The O&G segment generates revenue from oil and gas operations whereas Renewables is in the pre-revenue stage, primarily incurring research and development and start-up costs associated with its development of scalable technologies for converting plastic and biomass waste into renewable fuels and chemicals. The CODM is a committee including the Company’s Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer. The Company measures and evaluates its reportable segments based on their respective adjusted net income (loss), general and administrative expenses, research and development costs, and professional fees. The Company excludes certain corporate-related expenses and certain transactions or adjustments that the CODM considers to be non-operational, such as changes in fair value of warrant liabilities, restructuring charges, interest expense and income and amounts related to depreciation, depletion and amortization expense. Although these amounts are excluded, they are included in reported Loss before income taxes within the accompanying unaudited consolidated statements of operations and are included in the reconciliation below. The CODM uses segment adjusted net loss in the budget and forecasting process and to monitor budgets versus actual results, which are used in assessing the performance of the reportable segments and to allocate resources across the reportable segments. The balance sheet is presented on a consolidated basis, as the CODM does not use segment specific asset or liability information, including fixed assets, to assess performance. As a result, segment asset and liability details are disclosed at the aggregate level. A reconciliation of net loss for the reportable segments to the applicable line items within the accompanying consolidated statements of operations is as follows. SCHEDULE OF SEGMENT REPORTING INFORMATION
|  | O&G |  |  | Renewables |  |  | Total |
|  | Three Months Ended March 31, 2026 |
|  | O&G |  |  | Renewables |  |  | Total |
Revenue |  | $ | 132,965 |  |  | $ | - |  |  | $ | 132,965 |
Segment expense: |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | - |  |  |  | 4,582,553 |  |  |  | 4,582,553 |
Research and development costs |  |  | - |  |  |  | 208,787 |  |  |  | 208,787 |
Operating lease expense and severance tax |  |  | 125,662 |  |  |  | - |  |  |  | 125,662 |
Adjusted segment operating income (loss) |  |  | 7,303 |  |  |  | (4,791,340 | ) |  |  | (4,784,037 | )
Reconciliation of “Adjusted segment operating income (loss)” to “Loss before income taxes” |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization |  |  | 64,749 |  |  |  | 5,453 |  |  |  | 70,202 |
Write off of application costs incurred on abandoned patent applications |  |  | - |  |  |  | 283,927 |  |  |  | 283,927 |
Grant income |  |  |  |  |  |  |  |  |  |  |  |
Changes in fair value of warrant liability |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | - |  |  |  | 158,985 |  |  |  | 158,985 |
Interest income |  |  | - |  |  |  | (67,564 | ) |  |  | (67,564 | )
Foreign currency gain |  |  | - |  |  |  | (483 | ) |  |  | (483 | )
Loss before income taxes |  | $ | (57,446 | ) |  | $ | (5,171,658 | ) |  | $ | (5,229,104 | )
|  | O&G |  |  | Renewables |  |  | Total |
|  | Three Months Ended March 31, 2025 |
|  | O&G |  |  | Renewables |  |  | Total |
Revenue |  | $ | - |  |  | $ | - |  |  | $ | - |
Segment expense: |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | - |  |  |  | 992,599 |  |  |  | 992,599 |
Research and development costs |  |  | - |  |  |  | 607,368 |  |  |  | 607,368 |
Adjusted segment operating loss |  |  | - |  |  |  | (1,599,967 | ) |  |  | (1,599,967 | )
Reconciliation of “Adjusted segment operating loss” to “Loss before income taxes” |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | - |  |  |  | 4,218 |  |  |  | 4,218 |
Interest expense |  |  | - |  |  |  | 98,630 |  |  |  | 98,630 |
Grant income |  |  | - |  |  |  | (691,207 | ) |  |  | (691,207 | )
Changes in fair value of warrant liability |  |  | - |  |  |  | 5,453 |  |  |  | 5,453 |
Foreign currency gain |  |  | - |  |  |  | (6,449 | ) |  |  | (6,449 | )
Loss before income taxes |  | $ | - |  |  | $ | (1,010,612 | ) |  | $ | (1,010,612 | )
Oil and gas revenues and expenses for the legacy HUSA business have been included in the statement of operations from July 1, 2025. See Note 4 – Acquisition above.
|  | 2026 |  |  | 2025 |
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |
O&G |  | $ | 64,749 |  |  | $ | - |
Renewables |  |  | 5,453 |  |  |  | 4,218 |
Consolidated depreciation, depletion and amortization expense |  | $ | 70,202 |  |  | $ | 4,218 |
|  | March 31, 2026 |  |  | December 31, 2025 |
|  | March 31, 2026 |  |  | December 31, 2025 |
Assets: |  |  |  |  |  |  |  |
O&G |  | $ | 759,743 |  |  | $ | 794,963 |
Renewables |  |  | 44,865,783 |  |  |  | 31,060,466 |
Total assets of reportable segments |  | $ | 45,625,526 |  |  | $ | 31,855,429 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for segment reporting. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 18: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 19: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 20: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 21: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 22: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration