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NONCONTROLLING INTEREST IN CONSOLIDATED SUBSIDIARIES
3 Months Ended
Mar. 31, 2026
Noncontrolling Interest In Consolidated Subsidiaries  
NONCONTROLLING INTEREST IN CONSOLIDATED SUBSIDIARIES

NOTE 17 – NONCONTROLLING INTEREST IN CONSOLIDATED SUBSIDIARIES

 

Abundia Biomass to Liquids Limited

 

From the date of its formation, Abundia Biomass to Liquids Limited was owned 77.5% by the Company and 22.5% by a former officer of the Company.

 

During the three months ended March 31, 2025, $549 of the net income arising in Abundia Biomass to Liquids Limited was attributable to the 22.5% non-controlling interest in the subsidiary.

 

Effective October 26, 2025, the noncontrolling interest in Abundia Biomass to Liquids Limited was cancelled with the consent of the former officer of the Company as part of his separation agreement with the Company.

 

AGIG Plastics to Liquids LLC

 

From the date of its formation Abundia Plastics to Liquids LLC was owned 100% by the Company.

 

Effective July 1, 2025, following the Share Exchange, a warrant issued to one of our technology providers vested and was exercised resulting in the technology provider becoming a 1.5% interest holder in Abundia Plastics to Liquids LLC.

 

Since formation, Abundia Plastics to Liquids LLC has not recognized any income or incurred any expenses and has had no net assets.

 

Accordingly, the non-controlling interest in Abundia Plastics to Liquids LLC has no value at this time.