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Segments | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segments | Note 11. Segments As previously disclosed in our periodic filings with the SEC, the Company historically reported two business segments: crude oil transportation and facility services for terminaling and storage. In August 2024, the Company launched supply and trading activities, and beginning with the third quarter of 2025, management determined that these activities meet the criteria for a reportable operating segment under ASC 280. As a result, the Company now reports three operating segments: transportation and logistics services, terminaling and storage services, and supply and trading. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The CODM evaluates operating performance and allocates resources using segment gross profit, which is determined on the same basis as consolidated gross profit presented in the Company’s condensed consolidated statements of operations. The CODM does not review segment asset information in assessing performance or allocating resources; therefore, segment assets are not presented. Beginning in the third quarter of 2025, the Company no longer reports “Corporate and Other” as a separate category, as these activities do not constitute an operating segment and are not separately reviewed by the CODM. Corporate-level expenses, including executive and shared services personnel costs, stock-based compensation, legal and audit expenses, and other overhead items, are now allocated to operating segments or included in consolidated results, as appropriate. Segment revenue, significant segment expenses, segment gross profit, other income (expense), and income (loss) before income taxes for the three and nine months ended September 30, 2025 are presented below. Revenue generated from the newly formed Supply and Trading Segment was previously reported under the Terminaling and Storage segment in the Company’s earlier periodic reporting in 2025 and Product Revenue in 2024. Three Months Ended September 30, 2025
Schedule of segments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Transportation and Logistics Segment |  |  | Terminaling and Storage Segment |  |  | Supply and Trading Segment |  |  | Total Consolidated |
Revenues |  | $ | 4,743,919 |  |  | $ | - |  |  | $ | 8,853,451 |  |  | $ | 13,597,370 |
Revenues - related party |  |  | 2,460,969 |  |  |  | 923,046 |  |  |  | - |  |  |  | 3,384,015 |
Total revenues |  |  | 7,204,888 |  |  |  | 923,046 |  |  |  | 8,853,451 |  |  |  | 16,981,385 |
Cost of revenues |  |  | 5,852,860 |  |  |  | 345,412 |  |  |  | 6,063,614 |  |  |  | 12,261,886 |
Gross profit |  | $ | 1,352,028 |  |  | $ | 577,634 |  |  | $ | 2,789,837 |  |  | $ | 4,719,499 |
Three Months Ended September 30, 2024
|  | Transportation and Logistics Segment |  |  | Terminaling and Storage Segment |  |  | Supply and Trading Segment |  |  | Total Consolidated |
Revenues |  | $ | - |  |  | $ | - |  |  | $ | 4,775,771 |  |  | $ | 4,775,771 |
Revenues - related party |  |  | - |  |  |  | - |  |  |  | 11,140,652 |  |  |  | 11,140,653 |
Total revenues |  |  | - |  |  |  | - |  |  |  | 15,916,423 |  |  |  | 15,916,423 |
Cost of revenues |  |  | - |  |  |  | - |  |  |  | 14,190,073 |  |  |  | 14,190,073 |
Gross profit |  | $ | - |  |  | $ | - |  |  | $ | 1,726,350 |  |  | $ | 1,726,351 |
Nine Ended September 30, 2025
|  | Transportation and Logistics Segment |  |  | Terminaling and Storage Segment |  |  | Supply and Trading Segment |  |  | Total Consolidated |
Revenues |  | $ | 21,691,440 |  |  | $ | - |  |  | $ | 47,934,619 |  |  | $ | 69,626,059 |
Revenues - related party |  |  | 8,939,637 |  |  |  | 2,633,120 |  |  |  | 2,222,306 |  |  |  | 13,795,063 |
Total revenues |  |  | 30,631,077 |  |  |  | 2,633,120 |  |  |  | 50,156,925 |  |  |  | 83,421,122 |
Cost of revenues |  |  | 20,648,037 |  |  |  | 580,781 |  |  |  | 48,134,702 |  |  |  | 69,363,520 |
Gross profit |  | $ | 9,983,040 |  |  | $ | 2,052,338 |  |  | $ | 2,022,223 |  |  | $ | 14,057,602 |
Nine Ended September 30, 2024
|  | Transportation and Logistics Segment |  |  | Terminaling and Storage Segment |  |  | Supply and Trading Segment |  |  | Total Consolidated |
Revenues |  | $ | - |  |  | $ | - |  |  | $ | 30,999,451 |  |  | $ | 30,999,451 |
Revenues - related party |  |  | - |  |  |  | - |  |  |  | 17,119,485 |  |  |  | 17,119,486 |
Total revenues |  |  | - |  |  |  | - |  |  |  | 48,118,936 |  |  |  | 48,118,937 |
Cost of revenues |  |  | - |  |  |  | - |  |  |  | 44,213,635 |  |  |  | 44,213,635 |
Gross profit |  | $ | - |  |  | $ | - |  |  | $ | 3,905,301 |  |  | $ | 3,905,302 |

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- Definition The entire disclosure for reporting segments including data and tables. 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