XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.25.1

Immaterial Restatement of Prior Period Financial Statements | 12 Months Ended
--- | ---
Dec. 31, 2024
Immaterial Restatement of Prior Period Financial Statements [Abstract] |
IMMATERIAL RESTATEMENT OF PRIOR PERIOD FINANCIAL STATEMENTS | NOTE 16 — IMMATERIAL RESTATEMENT OF PRIOR PERIOD FINANCIAL STATEMENTS Subsequent to the issuance of the Company’s consolidated financial statements as of and for the year ending December 31, 2023, errors were identified related to the classification of the contingent consideration liability and in the computation of foreign currency translation adjustments. As a result, the Company has restated the prior period financial statements and related disclosures to correct the errors. Management evaluated the materiality of the errors and concluded that they were not material, individually or in the aggregate, to the prior period financial statements. The Company will also correct previously reported financial information for such immaterial errors in future filings, as applicable. The following tables reflect the effects of the corrections on all affected line items of the Company’s previously reported December 31, 2023 consolidated financial statements presented in this Form 10-K:
CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS |  | December 31, 2023 Previously Reported |  | Correction |  | December 31, 2023 As Corrected
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Increase in contingent consideration liability |  | $ | 866,519 |  |  | $ | (866,519 | ) |  | $ | — |
Total operating expenses |  |  | 6,633,908 |  |  |  | (866,519 | ) |  |  | 5,767,389 |
Operating loss |  |  | (6,633,908 | ) |  |  | 866,519 |  |  |  | (5,767,389 | )
Net loss |  |  | (6,027,080 | ) |  |  | 866,519 |  |  |  | (5,160,561 | )
Net loss attributable to Common Member Units |  |  | (59,246,280 | ) |  |  | 866,519 |  |  |  | (58,379,761 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Currency translation adjustment |  |  | 135,698 |  |  |  | 83,210 |  |  |  | 218,908 |
Comprehensive loss |  | $ | (5,891,382 | ) |  | $ | 949,729 |  |  | $ | (4,941,653 | )
CONSOLIDATED BALANCE SHEET |  | December 31, 2023 Previously Reported |  | Correction |  | December 31, 2023 As Corrected
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Natural gas and other properties, successful efforts method |  | $ | 21,531,101 |  |  | $ | 949,729 |  |  | $ | 22,480,830 |
Total Non-current assets |  |  | 25,956,454 |  |  |  | 949,729 |  |  |  | 26,906,183 |
Total Assets |  | $ | 32,743,204 |  |  | $ | 949,729 |  |  | $ | 33,692,933 |
LIABILITIES AND MEMBERS EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liability, short-term |  | $ | 14,888,021 |  |  | $ | (14,888,021 | ) |  |  | — |
Total Current Liabilities |  |  | 16,640,293 |  |  |  | (14,888,021 | ) |  |  | 1,752,272 |
Non-current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liability, long-term |  |  | 11,594,021 |  |  |  | 14,888,021 |  |  |  | 26,482,042 |
Total Non-current Liabilities |  |  | 15,837,341 |  |  |  | 14,888,021 |  |  |  | 30,725,362 |
Members’ Equity: |  |  |  |  |  |  |  |  |  |  |  |
Accumulated other comprehensive loss |  |  | (4,943,143 | ) |  |  | 83,210 |  |  |  | (4,859,933 | )
Accumulated deficit |  |  | (147,255,886 | ) |  |  | 866,519 |  |  |  | (146,389,367 | )
Members Equity (Deficit) |  |  | (152,199,029 | ) |  |  | 949,729 |  |  |  | (151,249,300 | )
Total Liabilities, Temporary Equity, and Members’ Equity |  | $ | 32,743,204 |  |  | $ | 949,729 |  |  | $ | 33,692,933 |
CONSOLIDATED STATEMENT OF CASH FLOWS |  | December 31, 2023 Previously Reported |  | Correction |  | December 31, 2023 As Corrected
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,027,080 | ) |  | $ | 866,519 |  |  | $ | (5,160,561 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of contingent consideration |  | $ | 866,519 |  |  | $ | (866,519 | ) |  | $ | — |
Net cash used in operating activities |  | $ | (5,749,303 | ) |  | $ | — |  |  | $ | (5,749,303 | )

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

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration