2024 Q3 Form 10-Q Financial Statement
#000121390024099136 Filed on November 15, 2024
Income Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
Revenue | $7.364M | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | ||
YoY Change | ||
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $507.6K | $426.8K |
YoY Change | 18.93% | |
% of Gross Profit | ||
Operating Expenses | $5.380M | $710.0K |
YoY Change | 657.68% | 54.58% |
Operating Profit | $1.985M | -$708.7K |
YoY Change | -380.05% | 54.31% |
Interest Expense | $89.77K | |
YoY Change | -77.43% | |
% of Operating Profit | ||
Other Income/Expense, Net | -$6.682M | $497.6K |
YoY Change | -1442.8% | 25.13% |
Pretax Income | -$4.697M | -$211.1K |
YoY Change | 2124.71% | 242.58% |
Income Tax | -$855.9K | -$205.8K |
% Of Pretax Income | ||
Net Earnings | -$3.841M | -$5.358K |
YoY Change | 71590.39% | -91.31% |
Net Earnings / Revenue | -52.16% | |
Basic Earnings Per Share | -$0.67 | |
Diluted Earnings Per Share | -$0.67 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 7.516M shares | |
Diluted Shares Outstanding | 5.734M shares |
Balance Sheet
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $640.0K | |
YoY Change | 1117.89% | |
Cash & Equivalents | $2.747M | $638.7K |
Short-Term Investments | ||
Other Short-Term Assets | $1.301K | $50.00K |
YoY Change | -97.4% | -75.34% |
Inventory | ||
Prepaid Expenses | $50.00K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $5.981M | $688.7K |
YoY Change | 768.37% | 169.81% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $20.00K | |
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $48.97M | |
YoY Change | -44.67% | |
Other Assets | $150.0K | |
YoY Change | ||
Total Long-Term Assets | $97.20M | $49.12M |
YoY Change | 97.86% | -44.49% |
TOTAL ASSETS | ||
Total Short-Term Assets | $5.981M | $688.7K |
Total Long-Term Assets | $97.20M | $49.12M |
Total Assets | $103.2M | $49.81M |
YoY Change | 107.13% | -43.88% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $7.988M | $1.540M |
YoY Change | 418.7% | 542.01% |
Accrued Expenses | $470.0K | |
YoY Change | 95.94% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $1.520M | |
YoY Change | ||
Long-Term Debt Due | $10.91M | |
YoY Change | ||
Total Short-Term Liabilities | $44.78M | $5.678M |
YoY Change | 688.74% | 1356.29% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $28.84M | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $675.0K | $2.440M |
YoY Change | -72.34% | -5.7% |
Total Long-Term Liabilities | $34.26M | $2.439M |
YoY Change | 1304.88% | -5.75% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $44.78M | $5.678M |
Total Long-Term Liabilities | $34.26M | $2.439M |
Total Liabilities | $79.04M | $8.116M |
YoY Change | 873.88% | 172.6% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$28.29M | -$6.896M |
YoY Change | 310.26% | 168.08% |
Common Stock | $301.00 | |
YoY Change | 0.0% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$6.426M | -$6.896M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $103.2M | $49.81M |
YoY Change | 107.13% | -43.88% |
Cashflow Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$3.841M | -$5.358K |
YoY Change | 71590.39% | -91.31% |
Depreciation, Depletion And Amortization | $507.6K | $426.8K |
YoY Change | 18.93% | |
Cash From Operating Activities | -$520.0K | |
YoY Change | 89.99% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$240.0K | |
YoY Change | ||
Cash From Investing Activities | -$240.0K | |
YoY Change | ||
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 580.0K | |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -520.0K | |
Cash From Investing Activities | -240.0K | |
Cash From Financing Activities | 580.0K | |
Net Change In Cash | -180.0K | |
YoY Change | -34.23% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$520.0K | |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
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---|---|---|---|---|
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Commitments And Contingencies
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|
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Preferred Stock Value
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Proceeds From Issuance Of Common Stock
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Document Type
DocumentType
|
10-Q | ||
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Document Quarterly Report
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|
true | ||
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Document Period End Date
DocumentPeriodEndDate
|
2024-09-30 | ||
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Document Fiscal Year Focus
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2024 | ||
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Document Transition Report
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|
001-41278 | ||
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Entity Registrant Name
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|
EON Resources, Inc. | ||
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|
DE | ||
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Entity Tax Identification Number
EntityTaxIdentificationNumber
|
85-4359124 | ||
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|
3730 Kirby Drive | ||
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Suite 1200 | ||
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Houston | ||
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TX | ||
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77098 | ||
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CityAreaCode
|
(713) | ||
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|
834.1145 | ||
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Entity Current Reporting Status
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Yes | ||
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us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
1720000 | usd | |
CY2023Q3 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-816011 | usd |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-816011 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1506 | usd | |
CY2023Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
9109 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-74692 | usd | |
CY2024Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-6681902 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-10969550 | usd | |
CY2023Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1268644 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2053132 | usd | |
CY2024Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4697096 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-11577447 | usd | |
CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-651152 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
3934479 | usd | |
CY2024Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-855925 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-2404979 | usd | |
CY2024Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-3841171 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-9172468 | usd | |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-651152 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
3934479 | usd | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3841171 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-9172468 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-651152 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
3934479 | usd | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5733857 | shares |
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
5733857 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5483959 | shares | |
us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
5483959 | shares | |
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.67 | |
CY2024Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.67 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.67 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.67 | ||
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
28504247 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
1908871 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
30413118 | usd |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
2676760 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
33089878 | usd |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-651152 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
32438726 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
30606229 | usd |
CY2024Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
699248 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-4693502 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
26611975 | usd |
CY2024Q2 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
490720 | usd |
CY2024Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-637795 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
26464900 | usd |
CY2024Q3 | eonr |
Stockissued Duringperiod Value Under Equity Line Of Credit
StockissuedDuringperiodValueUnderEquityLineOfCredit
|
1184272 | usd |
CY2024Q3 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
326995 | usd |
CY2024Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-3841171 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
24134996 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-9172468 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
3934479 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1506242 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1285830 | usd | |
us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
83926 | usd | |
us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
809423 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1516963 | usd | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-2404979 | usd | |
eonr |
Operating Lease Amortization Expenses.
OperatingLeaseAmortizationExpenses.
|
-448 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1982958 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
3334 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
1720000 | usd | |
eonr |
Change In Fair Value Of Unsettled Derivatives
ChangeInFairValueOfUnsettledDerivatives
|
-326508 | usd | |
eonr |
Change In Fair Value Of Unsettled Derivatives
ChangeInFairValueOfUnsettledDerivatives
|
-226338 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
484799 | usd | |
eonr |
Change In Fair Value Of Forward Purchase Agreement
ChangeInFairValueOfForwardPurchaseAgreement
|
4534766 | usd | |
eonr |
Change In Other Property Plant And Equipment Net
ChangeInOtherPropertyPlantAndEquipmentNet
|
83004 | usd | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-816011 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-132340 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
198571 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-177793 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
53155 | usd | |
us-gaap |
Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
|
266771 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
1787285 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
626309 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
3028687 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
325992 | usd | |
us-gaap |
Increase Decrease In Royalties Payable
IncreaseDecreaseInRoyaltiesPayable
|
1510124 | usd | |
us-gaap |
Increase Decrease In Royalties Payable
IncreaseDecreaseInRoyaltiesPayable
|
364404 | usd | |
eonr |
Increase Decrease In Royalties Payable Related Party
IncreaseDecreaseInRoyaltiesPayableRelatedParty
|
224434 | usd | |
eonr |
Increase Decrease In Royalties Payable Related Party
IncreaseDecreaseInRoyaltiesPayableRelatedParty
|
808329 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3346362 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
8311832 | usd | |
us-gaap |
Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
|
3275667 | usd | |
us-gaap |
Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
|
4867872 | usd | |
us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
20000 | usd | |
us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
190997 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3295667 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5058869 | usd | |
us-gaap |
Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
2945312 | usd | |
us-gaap |
Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
2000000 | usd | |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
967500 | usd | |
us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
421963 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
450000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
43750 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1184272 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-809253 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2000000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-758558 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
1252963 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3505454 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2016315 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2746896 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3269278 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
3489041 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
1509755 | usd | |
us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
56625 | usd | |
us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
2845600 | usd | |
eonr |
Accrued Purchases Of Property And Equipment At Period End
AccruedPurchasesOfPropertyAndEquipmentAtPeriodEnd
|
1405550 | usd | |
eonr |
Accrued Purchases Of Property And Equipment At Period End
AccruedPurchasesOfPropertyAndEquipmentAtPeriodEnd
|
1740662 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Organization and General</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EON Resources, Inc. (formerly HNR Acquisition Corp) (the “Company”) was incorporated in Delaware on December 9, 2020. The Company was a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). On September 16, 2024, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to change the Company’s name from “HNR Acquisition Corp” to “EON Resources Inc.”, effective on September 17, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The registration statement for the Company’s IPO was declared effective on February 10, 2022 (the “Effective Date”). On February 15, 2022, the Company consummated the IPO of 7,500,000 units (the “Units” and, with respect to the common stock included in the Units sold, the “Public Shares”), at $10.00 per Unit. Additionally, the underwriter fully exercised its option to purchase 1,125,000 additional Units. Simultaneously with the closing of the IPO, the Company consummated the sale of 505,000 units (the “Private Placement Units”) at a price of $10.00 per unit generating proceeds of $5,050,000 in a private placement to HNRAC Sponsors, LLC, the Company’s sponsor (the “Sponsor”) and EF Hutton (formerly Kingswood Capital Markets) (“EF Hutton”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Sponsor and other parties, purchased, in the aggregate, 505,000 units (“Private Placement Units”) at a price of $10.00 per Private Placement Unit in a private placement which included a share of common stock and warrant to purchase three quarters of one share of common stock at an exercise price of $11.50 per share, subject to certain adjustments (“Private Placement Warrants” and together, the “Private Placement”) that occurred immediately prior to the Public Offering.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">Effective November 15, 2023, the Company completed its business combination as described in Note 3. Through its subsidiary Pogo Resources, LLC, a Texas limited liability Company “(“Pogo” or “Pogo Resources”) and its subsidiary LH Operating, LLC, a Texas limited liability company “(“LHO”), the Company is an independent oil and natural gas company focused on the acquisition, development, exploration, and production of oil and natural gas properties in the Permian Basin. The Permian Basin is located in west Texas and southeastern New Mexico and is characterized by high oil and liquids-rich natural gas content, multiple vertical and horizontal target horizons, extensive production histories, long-lived reserves and historically high drilling success rates. The Company’s properties are in the Grayburg-Jackson Field in Eddy County, New Mexico, which is a sub-area of the Permian Basin. The Company focuses exclusively on vertical development drilling. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Inflation Reduction Act of 2022</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases (including redemptions) of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its stockholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 11, 2023, in connection with the stockholder vote for the amendment to the Company’s certificate of incorporation, a total of 4,115,597 Public Shares for an aggregate redemption amount of $43,318,207 were redeemed from the Trust Account by the stockholders of the Company. On November 15, 2023, a total of 3,323,707 Public Shares were redeemed for an aggregate redemption amount of $12,346,791. As a result of these redemptions of common stock, the Company recognized an estimated liability for the excise tax of $474,837, included in <i>Accrued liabilities and other </i>on the Company’s consolidated balance sheet pursuant to the 1% excise tax under the IR Act partially offset by issuance of common stock subsequent to the redemptions. The liability does not impact the consolidated statements of operations and is offset against accumulated deficit.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Going Concern Considerations </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At September 30, 2024, the Company had $2,746,896, in cash and a working capital deficit of $38,801,444. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company had positive cash flow from operations of $3,346,362 for the nine months ended September 30, 2024 and $8,675,037 for the year ended December 31, 2023, on a pro forma basis of the combined Successor and Predecessor periods. Additionally, management’s plans to alleviate this substantial doubt by improving profitability through streamlining costs, maintaining active hedge positions for its proven reserve production, and the issuance of additional shares of Class A common stock under the Common Stock Purchase Agreement. The Company has a three-year Common Stock Purchase Agreement with a maximum funding limit of $150,000,000 that can fund the Company operations and production growth, and be used to reduce liabilities of the Company, subject to the Company’s Form S-1 Registration Statement, which was declared effective by the Securities and Exchange Commission (“SEC”) on August 9, 2024. Through September 30, 2024, the Company has received $1,184,272 in cash proceeds related to the sale of 1,000,000 shares of common stock under the Common Stock Purchase Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> | ||
eonr |
Percentageof Excise Taxof The Fair Market Value
PercentageofExciseTaxofTheFairMarketValue
|
0.01 | pure | |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
4115597 | shares |
CY2023Q2 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
43318207 | usd |
CY2023Q4 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
474837 | usd |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3346362 | usd | |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
8675037 | usd |
CY2024Q3 | us-gaap |
Repurchase Agreement Counterparty Amount At Risk
RepurchaseAgreementCounterpartyAmountAtRisk
|
150000000 | usd |
us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
1184272 | usd | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Basis of Presentation:</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 15, 2023 (the “Closing Date”), the Company consummated a business combination which resulted in the acquisition of Pogo Resources, LLC, a Texas limited liability Company (“Pogo” or “Pogo Resources”) and its subsidiary LH Operating, LLC, a Texas limited liability company (“LHO”, and collectively, the “Pogo Business”) (the “Acquisition”). The Company was deemed the accounting acquirer in the Acquisition based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) 805, Business Combinations, and the Pogo Business was deemed to be the Predecessor entity. Accordingly, the historical consolidated financial statements of the Pogo Business became the historical financial statements of the Company’s upon consummation of the Acquisition. As a result, the financial statements included in this report reflect (i) the historical operating results of Pogo Business prior to the Acquisition (“Predecessor”) and (ii) the combined results of the companies, including Pogo Business following the closing of the Acquisition (“Successor”). The accompanying financial statements include a Predecessor period, which was the three and nine months ended September 30, 2023, and Successor period for the three and nine months ended September 30, 2024. As a result of the Acquisition, the results of operations, financial position and cash flows of the Predecessor and Successor may not be directly comparable. A black-line between the Successor and Predecessor periods has been placed in the consolidated financial statements and in the tables to the notes to the consolidated financial statements to highlight the lack of comparability between these two periods as the Acquisition resulted in a new basis of accounting for the Pogo Business. See Note 3 for additional information.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Condensed Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the period presented.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K as filed with the SEC on May 2, 2024. The interim results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any future periods.</p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><i>Use of Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions reflected in the financial statements include: i) estimates of proved reserves of oil and natural gas, which affect the calculation of depletion, depreciation, and amortization (“DD&A”) and impairment of proved oil and natural gas properties, ii) impairment of undeveloped properties and other assets, iii) depreciation of property and equipment; and iv) the valuation of commodity derivative instruments. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ materially from management’s estimates using different assumptions or under different conditions. Future production may vary materially from estimated oil and natural gas proved reserves. Actual future prices may vary significantly from price assumptions used for determining proved reserves and for financial reporting.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> | ||
CY2024Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
507626 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1506242 | usd | |
CY2023Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
426838 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1285830 | usd | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Concentration of Credit Risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $250,000. As of September 30, 2024, the Company’s cash balances exceeded the FDIC limit by $2,404,329. At September 30, 2024, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. </p> | ||
CY2024Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q3 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
2404329 | usd |
CY2024Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.18 | pure |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | pure | |
CY2023Q4 | us-gaap |
Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
|
0.99 | pure |
eonr |
Numberof Trading Days
NumberofTradingDays
|
P5D | ||
CY2024Q3 | eonr |
Pogo Royalty Fair Value
PogoRoyaltyFairValue
|
67700 | usd |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-816011 | usd | |
CY2023Q3 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10 | |
CY2024Q1 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
eonr |
Subjectto A Minimum Share
SubjecttoAMinimumShare
|
6.5 | ||
us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
31074127 | usd | |
us-gaap |
Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
|
1925873 | usd | |
us-gaap |
Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
|
15000000 | usd | |
us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
82828294 | usd | |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
|
246323 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
|
3986559 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
|
368371 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Oil Gas Reserves
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesOilGasReserves
|
93809392 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Derivative Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDerivativeAssets
|
51907 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
|
2290475 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
|
1244633 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Revenue And Royalties Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRevenueAndRoyaltiesPayable
|
775154 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Revenue And Royalties Payable Related Parties
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRevenueAndRoyaltiesPayableRelatedParties
|
1199420 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Shortterm Derivative Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedShorttermDerivativeLiabilities
|
27569 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities
|
8528772 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Asset Retirement Obligations Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetRetirementObligationsNet
|
893235 | usd |
CY2024Q3 | eonr |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherLiabilities
|
675000 | usd |
CY2024Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
|
82828294 | usd |
CY2024Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
645873 | usd |
CY2023 | us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
1500000 | usd |
CY2024Q2 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
1720000 | usd |
CY2023Q3 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
4621375 | usd |
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
17883362 | usd | |
CY2023Q3 | us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
-1058877 | usd |
us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
637518 | usd | |
CY2023Q3 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
-3617495 | usd |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
-5654484 | usd | |
CY2023Q3 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
-0.7 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
-1.1 | ||
CY2023Q3 | us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
5145446 | shares |
us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
5145446 | shares | |
CY2024Q3 | us-gaap |
Secured Debt
SecuredDebt
|
24735391 | usd |
CY2023Q4 | us-gaap |
Secured Debt
SecuredDebt
|
27680703 | usd |
CY2024Q3 | us-gaap |
Notes Payable
NotesPayable
|
15000000 | usd |
CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
15000000 | usd |
CY2024Q3 | eonr |
Merchant Cash Advances
MerchantCashAdvances
|
1019037 | usd |
CY2024Q3 | eonr |
Private Loans
PrivateLoans
|
3875750 | usd |
CY2023Q4 | eonr |
Private Loans
PrivateLoans
|
3469500 | usd |
CY2024Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
44630178 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
46150203 | usd |
CY2024Q3 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
1046837 | usd |
CY2023Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
2147346 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
14743263 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
6516651 | usd |
CY2024Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
28840078 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
37486206 | usd |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1 | |
CY2024Q3 | us-gaap |
Long Term Debt Description
LongTermDebtDescription
|
March 2025 | |
CY2024Q3 | us-gaap |
Long Term Debt Description
LongTermDebtDescription
|
February 2025 | |
CY2024Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
15048293 | usd |
CY2024Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
6263296 | usd |
CY2024Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
23318589 | usd |
CY2024Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
44630178 | usd |
CY2023Q4 | eonr |
Percentage Of Prepayment Shortfall
PercentageOfPrepaymentShortfall
|
0.005 | pure |
CY2023 | eonr |
Fair Value Of Prepayments
FairValueOfPrepayments
|
14257648 | usd |
CY2023Q4 | us-gaap |
Other Additional Capital
OtherAdditionalCapital
|
6067094 | usd |
eonr |
Fair Value Of Maturity Consideration
FairValueOfMaturityConsideration
|
1704416 | usd | |
eonr |
Fair Value Inception Agreement
FairValueInceptionAgreement
|
5628863 | usd | |
eonr |
Reclassified From Noncontrolling Interest
ReclassifiedFromNoncontrollingInterest
|
2845600 | usd | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
2.06 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1516933 | usd | |
CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
573568 | usd |
eonr |
Repaid Purchase Business Days
RepaidPurchaseBusinessDays
|
P2D | ||
us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
50000 | shares | |
eonr |
Resaleof Consummation Business Combination Days
ResaleofConsummationBusinessCombinationDays
|
P30D | ||
CY2024Q3 | us-gaap |
Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
|
794195 | usd |
CY2023Q4 | us-gaap |
Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
|
467687 | usd |
eonr |
Dilutive Offering Price
DilutiveOfferingPrice
|
3 | ||
eonr |
Forward Purchase Agreement Estimate Rate
ForwardPurchaseAgreementEstimateRate
|
0.50 | pure | |
eonr |
Dilutive Offering Price
DilutiveOfferingPrice
|
5 | ||
eonr |
Forward Purchase Agreement Estimate Rate
ForwardPurchaseAgreementEstimateRate
|
0.50 | pure | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
484799 | usd | |
CY2022Q2 | eonr |
Referral Fees Service
ReferralFeesService
|
1800000 | usd |
CY2022Q2 | eonr |
Referral Fees Percentageofthe Business Combination
ReferralFeesPercentageoftheBusinessCombination
|
0.02 | pure |
CY2022Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
900000 | usd |
us-gaap |
Payments For Fees
PaymentsForFees
|
568000 | usd | |
CY2023 | us-gaap |
Payments For Fees
PaymentsForFees
|
762000 | usd |
CY2023Q1 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.15 | pure |
CY2023Q1 | eonr |
Initial Monthly Payment
InitialMonthlyPayment
|
8000 | usd |
CY2023Q1 | eonr |
Agreement Amount Paid
AgreementAmountPaid
|
12000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
150000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
250000 | usd |
CY2024Q3 | us-gaap |
Proceeds From Legal Settlements
ProceedsFromLegalSettlements
|
50000 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
|
60000 | usd |
CY2024Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
675000 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
675000 | usd |
CY2024Q3 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
885000 | shares |
us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
1280415 | usd | |
CY2024Q3 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
260000 | usd |
us-gaap |
Gain Loss On Fair Value Hedges Recognized In Earnings
GainLossOnFairValueHedgesRecognizedInEarnings
|
76000 | usd | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | eonr |
Non Rule10b51 Arrangement Modified Flag
NonRule10b51ArrangementModifiedFlag
|
false | |
CY2024Q3 | eonr |
Rule10b51 Arrangement Modified Flag
Rule10b51ArrangementModifiedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
usd | |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
usd | |
CY2023Q4 | eonr |
Warrant Liability Current
WarrantLiabilityCurrent
|
usd | |
CY2024Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2023Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | ||
CY2023Q3 | eonr |
Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
|
usd | |
eonr |
Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
|
usd | ||
CY2023Q3 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
usd | ||
CY2023Q3 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | ||
CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2024Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | ||
CY2023Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
shares | |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
shares | |
us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
shares | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
shares | ||
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
||
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
|||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
|||
CY2024Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
usd | ||
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
usd | ||
eonr |
Operating Lease Amortization Expenses.
OperatingLeaseAmortizationExpenses.
|
usd | ||
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | ||
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | ||
eonr |
Change In Fair Value Of Forward Purchase Agreement
ChangeInFairValueOfForwardPurchaseAgreement
|
usd | ||
eonr |
Change In Other Property Plant And Equipment Net
ChangeInOtherPropertyPlantAndEquipmentNet
|
usd | ||
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
usd | ||
us-gaap |
Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
|
usd | ||
us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
usd | ||
eonr |
Payments To Acquire Trust Account Withdrawals
PaymentsToAcquireTrustAccountWithdrawals
|
usd | ||
eonr |
Payments To Acquire Trust Account Withdrawals
PaymentsToAcquireTrustAccountWithdrawals
|
usd | ||
us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
usd | ||
us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
usd | ||
CY2023Q4 | eonr |
Merchant Cash Advances
MerchantCashAdvances
|
usd | |
CY2024Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
usd | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001842556 |