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Consolidated Statements of Cash Flows - USD ($)
2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2023
Nov. 14, 2023
Dec. 31, 2024
Dec. 31, 2023
Operating activities:        
Net income (loss) $ (9,001,202)   $ (9,080,283)  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation, depletion, and amortization expense 352,127   2,407,098  
Accretion of asset retirement obligations 11,062   144,988  
Equity-based compensation 3,445,965   2,778,991  
Deferred income tax benefit (2,365,632)   (3,470,407)  
Amortization of operating lease right-of-use assets    
Amortization of debt issuance costs 1,191,553   2,361,627  
Gain on extinguishment of liabilities   (1,638,138)  
Change in fair value of unsettled derivatives (443,349)   361,290  
Change in fair value of convertible note liability   192,744  
Change in fair value of warrant liability (187,704)   804,004  
Change in fair value of forward purchase agreement (3,268,581)   (561,099)  
Change in other property, plant, and equipment, net    
Loss on sale of assets    
Changes in operating assets and liabilities:        
Accounts receivable 1,793,055   411,240  
Prepaid expenses and other assets (258,431)   423,116  
Related party note receivable interest income    
Accounts payable 8,091,598   3,024,413  
Accounts payable – related parties (138,000)   (316,651)  
Accrued liabilities and other 1,251,677   3,018,930  
Royalties payable (313,381)   2,729,398  
Royalties payable, related party 323,717   109,425  
Net cash provided by operating activities 484,474   3,700,686  
Investing activities:        
Development of crude oil and gas properties (238,499)   (3,555,062)  
Purchases of other equipment   (20,000)  
Acquisition of business, net of cash acquired (30,827,804)    
Trust Account withdrawals 49,362,479    
Issuance of related party note receivable    
Net cash provided by (used in) investing activities 18,296,176   (3,575,062)  
Financing activities:        
Proceeds from issuance of long-term debt 28,000,000    
Payment of debt issuance costs (808,992)    
Repayments of long-term debt (319,297)   (3,984,286)  
Proceeds of short-term notes payable   1,298,200  
Repayment of short-term notes payable   (989,018)  
Proceeds from related party notes payable   450,000  
Repayment of related party notes payable   (62,750)  
Proceeds from sale of common stock   2,628,334  
Redemptions of common stock (44,737,839)    
Net cash used in financing activities (17,866,128)   (659,520)  
Net change in cash and cash equivalents 914,522   (533,896)  
Cash and cash equivalents at beginning of period 2,590,932   3,505,454  
Cash and cash equivalents at end of period 3,505,454 $ 2,590,932 2,971,558 $ 3,505,454
Cash paid during the period for:        
Interest on debt 370,625   6,146,139  
Income taxes 154,000    
Amounts included in the measurement of operating lease liabilities    
Supplemental disclosure of non-cash investing and financing activities:        
Operating lease assets obtained in exchange for operating lease obligations    
Accrued purchases of property and equipment at period end 141,481   $ 2,540,703  
Predecessor        
Operating activities:        
Net income (loss)   4,970,863    
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation, depletion, and amortization expense   1,497,749    
Accretion of asset retirement obligations   843,865    
Equity-based compensation      
Deferred income tax benefit      
Amortization of operating lease right-of-use assets   (403)    
Amortization of debt issuance costs   3,890    
Gain on extinguishment of liabilities      
Change in fair value of unsettled derivatives   (1,215,693)    
Change in fair value of convertible note liability      
Change in fair value of warrant liability      
Change in fair value of forward purchase agreement      
Change in other property, plant, and equipment, net   83,004    
Loss on sale of assets   816,011    
Changes in operating assets and liabilities:        
Accounts receivable   (921,945)    
Prepaid expenses and other assets   26,833    
Related party note receivable interest income   (313,401)    
Accounts payable   1,480,138    
Accounts payable – related parties      
Accrued liabilities and other   753,595    
Royalties payable   157,991    
Royalties payable, related party   8,066    
Net cash provided by operating activities   8,190,563    
Investing activities:        
Development of crude oil and gas properties   (6,769,557)    
Purchases of other equipment      
Acquisition of business, net of cash acquired      
Trust Account withdrawals      
Issuance of related party note receivable   (190,998)    
Net cash provided by (used in) investing activities   (6,960,555)    
Financing activities:        
Proceeds from issuance of long-term debt      
Payment of debt issuance costs      
Repayments of long-term debt   (3,000,000)    
Proceeds of short-term notes payable      
Repayment of short-term notes payable      
Proceeds from related party notes payable      
Repayment of related party notes payable      
Proceeds from sale of common stock      
Redemptions of common stock      
Net cash used in financing activities   (3,000,000)    
Net change in cash and cash equivalents   (1,769,992)    
Cash and cash equivalents at beginning of period $ 246,323 2,016,315   $ 2,016,315
Cash and cash equivalents at end of period   246,323    
Cash paid during the period for:        
Interest on debt   2,002,067    
Income taxes      
Amounts included in the measurement of operating lease liabilities   56,625    
Supplemental disclosure of non-cash investing and financing activities:        
Operating lease assets obtained in exchange for operating lease obligations      
Accrued purchases of property and equipment at period end   $ 256,237