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Intangible Assets, Net and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2023
Intangible Assets Net And Goodwill  
Schedule Of intangible assets
                                               
    December 31, 2023     December 31, 2022  
   

Gross
Carrying

Amount

     Accumulated
Amortization		     Net Book
Value		     Gross
Carrying
Amount		     Accumulated
Amortization		     Net Book
Value		  
Extraction Technology patents   $ 113,430     $ 18,905     $ 94,525     $ 113,430     $ 12,233     $ 101,197  
Extraction Technology     16,385,157       7,305,049       9,080,108       16,385,157       6,485,791       9,899,366  
Acquired crude oil contracts     16,788,760       2,525,739       14,263,021       19,095,420       844,930       18,250,490  
Total Intellectual property   $ 33,287,347     $ 9,849,693     $ 23,437,654     $ 35,594,007     $ 7,342,954     $ 28,251,053  
Schedule of goodwill
     
   Goodwill 
January 1, 2021  $ - 
Business combination acquisition(1)   12,678,108 
December 31, 2022  $12,678,108 
Business combination acquisition(1)   2,306,660 
December 31, 2023  $14,984,768 

 

 

(1)The measurement of assets acquired and liabilities assumed in the business combination is based on preliminary estimates made by management and subject to adjustment within twelve months. Management hired a valuation expert who performed a valuation study to calculate the fair value of the acquired assets, assumed liabilities and goodwill within twelve months. Based on the valuation study, we increased the fair value of goodwill and decreased the value of the acquired contracts by $2.3 million in 2023.