2023 Q2 Form 10-Q Financial Statement

#000107261323000339 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $9.710M $10.05M $13.05M
YoY Change -41.29% -22.95% 521.67%
Cost Of Revenue $7.820M $7.278M $6.092M
YoY Change 17.75% 19.47% 283.68%
Gross Profit $1.890M $2.774M $6.954M
YoY Change -80.91% -60.11% 1261.64%
Gross Profit Margin 19.46% 27.6% 53.3%
Selling, General & Admin $2.715M $3.613M $2.455M
YoY Change -17.29% 47.14% 171.0%
% of Gross Profit 143.66% 130.24% 35.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.00K $563.0K $434.5K
YoY Change -88.15% 29.59% 140.64%
% of Gross Profit 2.86% 20.3% 6.25%
Operating Expenses $12.01M $12.27M $3.220M
YoY Change 12.09% 281.23% 134.84%
Operating Profit -$2.302M -$2.223M $3.734M
YoY Change -139.52% -159.53% -534.01%
Interest Expense -$184.9K -$237.3K -$110.7K
YoY Change 65.39% 114.46% -19.13%
% of Operating Profit -2.96%
Other Income/Expense, Net -$184.9K -$237.3K -$110.6K
YoY Change 65.4% 114.46%
Pretax Income -$2.465M -$2.460M $3.623M
YoY Change -144.54% -167.88% -463.37%
Income Tax
% Of Pretax Income
Net Earnings -$2.465M -$2.460M $3.623M
YoY Change -144.54% -167.88% -463.37%
Net Earnings / Revenue -25.38% -24.47% 27.77%
Basic Earnings Per Share -$0.11 -$0.11 $0.18
Diluted Earnings Per Share -$0.11 -$0.11 $150.9K
COMMON SHARES
Basic Shares Outstanding 22.10M shares 22.44M shares 19.87M shares
Diluted Shares Outstanding 22.11M shares 22.10M shares 24.02M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.295M $6.764M $5.354M
YoY Change -89.59% 26.34% 36.76%
Cash & Equivalents $1.295M $6.764M $5.354M
Short-Term Investments
Other Short-Term Assets $1.491M $1.507M $620.0K
YoY Change 104.09% 142.98% 186.57%
Inventory $1.538M $2.261M $975.7K
Prepaid Expenses $1.465M $1.413M
Receivables $7.693M $6.504M $8.491M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.02M $17.04M $15.44M
YoY Change -48.21% 10.33% 148.28%
LONG-TERM ASSETS
Property, Plant & Equipment $50.18M $46.90M $30.64M
YoY Change 49.57% 53.08% 275.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $746.9K $746.9K $6.742M
YoY Change -89.82% -88.92% 148.57%
Total Long-Term Assets $50.92M $47.65M $37.38M
YoY Change 24.55% 27.47% 243.76%
TOTAL ASSETS
Total Short-Term Assets $12.02M $17.04M $15.44M
Total Long-Term Assets $50.92M $47.65M $37.38M
Total Assets $62.94M $64.68M $52.82M
YoY Change -1.8% 22.46% 209.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.159M $5.733M $2.675M
YoY Change 25.07% 114.32% 27.05%
Accrued Expenses $5.816M $6.280M $6.466M
YoY Change -22.8% -2.86% 156.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.316M $3.595M $1.553M
YoY Change 64.7% 131.4% -81.51%
Total Short-Term Liabilities $12.60M $14.75M $10.69M
YoY Change 1.02% 37.94% -19.39%
LONG-TERM LIABILITIES
Long-Term Debt $4.055M $4.668M $6.620M
YoY Change -40.43% -29.49% 959.53%
Other Long-Term Liabilities $27.97M $25.66M $21.57M
YoY Change 27.3% 18.96% 33.54%
Total Long-Term Liabilities $32.02M $30.33M $28.19M
YoY Change 11.28% 7.58% 68.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.60M $14.75M $10.69M
Total Long-Term Liabilities $32.02M $30.33M $28.19M
Total Liabilities $44.62M $45.08M $38.89M
YoY Change 8.18% 15.93% 29.43%
SHAREHOLDERS EQUITY
Retained Earnings -$57.07M -$54.61M
YoY Change 13.98%
Common Stock $81.65K $81.63K
YoY Change 0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.32M $19.60M $13.93M
YoY Change
Total Liabilities & Shareholders Equity $62.94M $64.68M $52.82M
YoY Change -1.8% 22.46% 209.02%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.465M -$2.460M $3.623M
YoY Change -144.54% -167.88% -463.37%
Depreciation, Depletion And Amortization $54.00K $563.0K $434.5K
YoY Change -88.15% 29.59% 140.64%
Cash From Operating Activities -$2.918M -$5.067M $3.061M
YoY Change -136.55% -265.54% -588.84%
INVESTING ACTIVITIES
Capital Expenditures $1.714M $2.237M -$433.7K
YoY Change -154.98% -615.86% 138.32%
Acquisitions
YoY Change
Other Investing Activities -$117.6K $2.692M -$522.8K
YoY Change -43.59% -614.98% -70.63%
Cash From Investing Activities -$1.831M $455.3K -$956.5K
YoY Change -44.93% -147.6% -51.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $569.1K $460.0K
YoY Change 23.74%
Cash From Financing Activities -719.8K -$569.1K -362.5K
YoY Change -129.69% 57.02% -105.71%
NET CHANGE
Cash From Operating Activities -2.918M -$5.067M 3.061M
Cash From Investing Activities -1.831M $455.3K -956.5K
Cash From Financing Activities -719.8K -$569.1K -362.5K
Net Change In Cash -5.469M -$5.181M 1.742M
YoY Change -177.21% -397.44% -53.64%
FREE CASH FLOW
Cash From Operating Activities -$2.918M -$5.067M $3.061M
Capital Expenditures $1.714M $2.237M -$433.7K
Free Cash Flow -$4.632M -$7.304M $3.494M
YoY Change -141.73% -309.02% -886.77%

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CY2022Q1 empr Stock Compensation Expense
StockCompensationExpense
376284 usd
CY2023Q1 empr Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
-76225 usd
CY2022Q1 empr Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
-39706 usd
CY2023Q1 empr Depreciation Depletion Amortization
DepreciationDepletionAmortization
622489 usd
CY2022Q1 empr Depreciation Depletion Amortization
DepreciationDepletionAmortization
434446 usd
CY2023Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
401275 usd
CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
330000 usd
CY2023Q1 empr Unrealized Gain On Derivative Instruments
UnrealizedGainOnDerivativeInstruments
66823 usd
CY2022Q1 empr Unrealized Gain On Derivative Instruments
UnrealizedGainOnDerivativeInstruments
112321 usd
CY2023Q1 empr Settlement On Or Purchases Of Derivative Instruments
SettlementOnOrPurchasesOfDerivativeInstruments
-41187 usd
CY2022Q1 empr Settlement On Or Purchases Of Derivative Instruments
SettlementOnOrPurchasesOfDerivativeInstruments
-83260 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
849909 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
757466 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
420859 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-62202 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-89812 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-137010 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
213611 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-110053 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1654437 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3177767 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
440471 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5066714 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3060704 usd
CY2023Q1 empr Additions To Oil And Natural Gas Properties
AdditionsToOilAndNaturalGasProperties
2210004 usd
CY2022Q1 empr Additions To Oil And Natural Gas Properties
AdditionsToOilAndNaturalGasProperties
424651 usd
CY2023Q1 empr Payments For Purchase Of Other Assets2
PaymentsForPurchaseOfOtherAssets2
27170 usd
CY2022Q1 empr Payments For Purchase Of Other Assets2
PaymentsForPurchaseOfOtherAssets2
9030 usd
CY2023Q1 empr Cash Paid For Right Of Use Assets
CashPaidForRightOfUseAssets
86545 usd
CY2022Q1 empr Cash Paid For Right Of Use Assets
CashPaidForRightOfUseAssets
42833 usd
CY2023Q1 empr Sinking Fund Deposit
SinkingFundDeposit
-2779000 usd
CY2022Q1 empr Sinking Fund Deposit
SinkingFundDeposit
480000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
455281 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-956514 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
569136 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
459952 usd
CY2022Q1 empr Proceeds From Stock And Warrant Issuances
ProceedsFromStockAndWarrantIssuances
97500 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-569136 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-362452 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5180569 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1741738 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11944442 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3611871 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6763873 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5353609 usd
CY2023Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
136761 usd
CY2022Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
104981 usd
CY2023Q1 empr Organization And Basis Of Presentation
OrganizationAndBasisOfPresentation
<p id="xdx_806_ecustom--OrganizationAndBasisOfPresentation_zJef77SbzQuf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1 - <span id="xdx_826_z89XaQZgwUcf">Organization and Basis of Presentation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Empire Petroleum Corporation (the “Company”, collectively with its subsidiaries) is an independent energy company operator engaged in optimizing developed production by employing field management methods to maximize reserve recovery while minimizing costs. Empire operates the following wholly-owned subsidiaries in its areas of operations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="4" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">●</span></td> <td colspan="5" style="text-align: justify"><span style="font-size: 10pt">Empire New Mexico, LLC (“Empire New Mexico”)</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">●</span></td> <td colspan="5" style="text-align: justify"><span style="font-size: 10pt">Empire Rockies Region</span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">o</span></td> <td colspan="2" style="text-align: justify"><span style="font-size: 10pt"> Empire North Dakota LLC (“Empire North Dakota”)</span></td></tr> <tr style="vertical-align: top"> <td colspan="4"><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">o</span></td> <td colspan="2" style="text-align: justify"><span style="font-size: 10pt"> Empire North Dakota Acquisition LLC (“Empire NDA”)</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">●</span></td> <td colspan="5" style="text-align: justify"><span style="font-size: 10pt">Empire Texas (“Empire Texas”), consisting of the following entities:</span></td></tr> <tr style="vertical-align: top"> <td colspan="3"><span style="font-size: 10pt"> </span></td> <td colspan="3"><span style="font-size: 10pt">o</span></td> <td style="text-align: justify"><span style="font-size: 10pt">Empire Texas LLC</span></td></tr> <tr style="vertical-align: top"> <td colspan="3"><span style="font-size: 10pt"> </span></td> <td colspan="3"><span style="font-size: 10pt">o</span></td> <td style="text-align: justify"><span style="font-size: 10pt">Empire Texas Operating LLC</span></td></tr> <tr style="vertical-align: top"> <td colspan="3"><span style="font-size: 10pt"> </span></td> <td colspan="3"><span style="font-size: 10pt">o</span></td> <td style="text-align: justify"><span style="font-size: 10pt">Empire Texas GP LLC</span></td></tr> <tr style="vertical-align: top"> <td colspan="3"><span style="font-size: 10pt"> </span></td> <td colspan="2"><span style="font-size: 10pt">o</span></td> <td colspan="2" style="text-align: justify"><span style="font-size: 10pt"> Pardus Oil &amp; Gas Operating, LP (owned 1% by Empire Texas GP LLC and 99% by Empire Texas LLC)</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-size: 10pt"> </span></td> <td><span style="font-size: 10pt">●</span></td> <td colspan="5" style="text-align: justify"><span style="font-size: 10pt">Empire Louisiana LLC (“Empire Louisiana”)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Empire was incorporated in the State of Delaware in 1985. The consolidated financial statements of Empire Petroleum Corporation and subsidiaries include the accounts of the Company and its wholly-owned subsidiaries.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company's financial position, the results of operations, and the cash flows for the interim period are included. All adjustments are of a normal, recurring nature. Certain amounts in prior periods have been reclassified to conform to current presentation. Operating results for the interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information contained in this Form 10-Q should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2022 which are contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023.</p>
CY2023Q1 empr Fair Value Measurements
FairValueMeasurements
<p id="xdx_84D_ecustom--FairValueMeasurements_zY9SPKQShglc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_867_zzmZP59qYmha">Fair Value Measurements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Financial Accounting Standards Board (“FASB”) ASC Topic 820, <i>Fair Value Measurement</i> (ASC Topic 820)<i>, </i>defines fair value, establishes a consistent framework for measuring fair value and establishes a fair value hierarchy based on the observability of inputs used to measure fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: justify">The three-level fair value hierarchy for disclosure of fair value measurements defined by ASC Topic 820 is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: justify"><b>Level 1</b> – Unadjusted, quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. An active market is defined as a market where transactions for the financial instrument occur with sufficient frequency and volume to provide pricing information on an ongoing basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 5.7pt 6pt 0 0; text-align: justify"><b>Level 2</b> – Inputs, other than quoted prices within Level 1, that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 6.05pt 6.5pt 0 0; text-align: justify"><b>Level 3</b> – Prices or valuations that require unobservable inputs that are both significant to the fair value measurement and unobservable. Valuation under Level 3 generally involves a significant degree of judgment from management.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 6.1pt 0 0; text-align: justify">A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve a degree of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instrument’s complexity. The Company reflects transfers between the three levels at the beginning of the reporting period in which the availability of observable inputs no longer justifies classification in the original level. There were no transfers between fair value hierarchy levels for the period ended March 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0; text-align: justify"><i>Financial instruments and other </i>– The fair values determined for accounts receivable, accrued expenses and other current liabilities were equivalent to the carrying value due to their short-term nature.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0; text-align: justify"><i>Derivatives</i> – Derivative financial instruments are carried at fair value and measured on a recurring basis. The Company’s commodity price hedges are valued based on discounted future cash flow models that are primarily based on published forward commodity price curves; thus, these inputs are designated as Level 2 within the valuation hierarchy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0.3in 0; text-align: justify">The fair values of derivative instruments in asset positions include measures of counterparty nonperformance risk, and the fair values of derivative instruments in liability positions include measures of the Company’s nonperformance risk. These measurements were not material to the Condensed Consolidated Financial Statements.</p>
CY2023Q1 empr Fair Value On A Nonrecurring Basis
FairValueOnANonrecurringBasis
<p id="xdx_849_ecustom--FairValueOnANonrecurringBasis_zUqY2FLJqY7d" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><b><span id="xdx_86D_zg4pPxK0lCOd">Fair Value on a Nonrecurring Basis</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The Company applies the provisions of fair value measurement on a non-recurring basis to its non-financial assets and liabilities, including oil and gas properties and asset retirement obligations. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments if events or changes in certain circumstances indicate that adjustments may be necessary. No triggering events that require assessment of such items were observed during the three months ended March 31, 2023.</p>
CY2023Q1 empr Related Party Transactions
RelatedPartyTransactions
<p id="xdx_842_ecustom--RelatedPartyTransactions_zFt5XRCiJL87" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-size: 10pt"><b><span id="xdx_864_zDXHCoVnWQpl">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-size: 10pt">Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. FASB ASC 850, <i>Related Party Disclosures</i> requires that transactions with related parties that would have influence in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Related party transactions typically occur within the context of the following relationships: affiliates of the entity; entities for which investments in their equity securities is typically accounted for under the equity method by the investing entity; trusts for the benefit of employees; principal owners of the entity and members of their immediate families; management of the entity and members of their immediate families; and other parties that can significantly influence the management or operating policies of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.</span></p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zokQSd8HhhQl" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-size: 10pt"><b><span id="xdx_868_z5v4OLln0ns2">Concentrations of Credit Risk</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-size: 10pt">The Company’s accounts receivable are primarily receivables from oil and natural gas purchasers and joint interest owners. The purchasers of the Company’s oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts from its oil and natural gas purchasers. The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. Joint operating agreements govern the operations of an oil or natural gas well and, in most instances, provide for offsetting of amounts payable or receivable between the Company and its joint interest owners. The Company’s joint interest partners consist primarily of independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company’s joint interest partners to reimburse the Company could be adversely affected. </span></p>
CY2023Q1 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
58651754 usd
CY2022Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
52831131 usd
CY2023Q1 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
2901047 usd
CY2022Q4 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
2865556 usd
CY2023Q1 empr Capitalized Costs Work In Process
CapitalizedCostsWorkInProcess
4574733 usd
CY2022Q4 empr Capitalized Costs Work In Process
CapitalizedCostsWorkInProcess
8289652 usd
CY2023Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
66127534 usd
CY2022Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
63986339 usd
CY2023Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
20679739 usd
CY2022Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
20116696 usd
CY2023Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
45447795 usd
CY2022Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
43869643 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
563000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
401000 usd
CY2023Q1 empr Schedule Of Operating Lease Tabletextblock
ScheduleOfOperatingLeaseTabletextblock
<p id="xdx_892_ecustom--ScheduleOfOperatingLeaseTabletextblock_z026FuZHvBj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8BE_zgGI7JyqsZ6d">Other property and equipment consists of operating lease assets, vehicles, office furniture, and equipment with lives ranging from three to five years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <table cellpadding="0" cellspacing="0" style="font: 9.5pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="font-size: 9.5pt"> </td><td style="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: center">March 31, 2023</td><td style="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold"> </td><td style="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 9.5pt"> </td> <td style="font-size: 9.5pt; text-align: left"> </td><td style="font-size: 9.5pt; text-align: right"> </td><td style="font-size: 9.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 56%; text-align: left">Other property and equipment, at cost</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentOther_iI_c20230331_zvuBWF076Mg1" style="width: 12%; text-align: right" title="Other property and equipment, at cost">1,812,095</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%; font-size: 9.5pt"> </td> <td style="width: 1%; font-size: 9.5pt; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentOther_iI_c20221231_zWGpa1e5j2He" style="width: 12%; font-size: 9.5pt; text-align: right" title="Other property and equipment, at cost">1,878,325</td><td style="width: 1%; font-size: 9.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentOtherAccumulatedDepreciation_iNI_di_c20230331_zVM3X0Pw53Z" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(359,958</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="font-size: 9.5pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 9.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentOtherAccumulatedDepreciation_iNI_di_c20221231_zLqtDAyNovYh" style="border-bottom: Black 1pt solid; font-size: 9.5pt; text-align: right" title="Less: accumulated depreciation">(436,796</td><td style="padding-bottom: 1pt; font-size: 9.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt">Other property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentOtherNet_iI_c20230331_znl9uvOzgeA4" style="border-bottom: Black 2.5pt double; text-align: right" title="Other Property and Equipment, Net">1,452,137</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentOtherNet_iI_c20221231_zQMNk1yDBW4j" style="border-bottom: Black 2.5pt double; text-align: right" title="Other Property and Equipment, Net">1,441,529</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2023Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
1812095 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
1878325 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
359958 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
436796 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
1452137 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
1441529 usd
CY2023Q1 us-gaap Depreciation
Depreciation
59000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
34000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
25000740 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
20640599 usd
CY2023Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-68809 usd
CY2023Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
190375 usd
CY2023Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
401275 usd
CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
330000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
25142831 usd
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
20970599 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-66823 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-112321 usd
CY2023Q1 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
2957597 usd
CY2022Q4 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
3060341 usd
CY2023Q1 empr Joint Interest Billing Receivables
JointInterestBillingReceivables
3422417 usd
CY2022Q4 empr Joint Interest Billing Receivables
JointInterestBillingReceivables
2057719 usd
CY2022Q4 empr Receivable From Former Ceo
ReceivableFromFormerCEO
2130614 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
124003 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
531565 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6504017 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7780239 usd
CY2023Q1 us-gaap Recorded Third Party Environmental Recoveries Discount
RecordedThirdPartyEnvironmentalRecoveriesDiscount
3862829 usd
CY2022Q4 us-gaap Recorded Third Party Environmental Recoveries Discount
RecordedThirdPartyEnvironmentalRecoveriesDiscount
4415311 usd
CY2023Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
957634 usd
CY2022Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
3299785 usd
CY2023Q1 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
650043 usd
CY2022Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
500481 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
208898 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
208898 usd
CY2023Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
601058 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1036535 usd
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
6280462 usd
CY2022Q4 us-gaap Taxes Payable Current
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CY2023Q1 empr Schedule Of Unamortize Expense Table Textblock
ScheduleOfUnamortizeExpenseTableTextblock
<p id="xdx_89E_ecustom--ScheduleOfUnamortizeExpenseTableTextblock_ziGIoalIgTDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B1_zbYmHVGKoUC4">The following table represents the Company’s outstanding debt as of March 31, 2023 and December 31, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 9.5pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom; font-weight: bold"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of<br/> March 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of<br/> December 31, 2022</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; font-weight: bold"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; font-weight: bold"> <td style="width: 56%; text-align: left"><span style="font-style: normal; font-weight: normal">Senior Revolver Loan Agreement</span></td><td style="width: 8%"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="width: 1%; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td id="xdx_98F_ecustom--NotesPayableCurrentNonCurrent_iI_c20230331__us-gaap--PlanNameAxis__custom--SeniorRevolverLoanAgreementMember_zpShyUpUaTF7" style="width: 12%; text-align: right" title="Notes payable current non current"><span style="font-style: normal; font-weight: normal">5,369,500</span></td><td style="width: 1%; text-align: left"><span style="font-style: normal; font-weight: normal"> </span></td><td style="width: 8%"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="width: 1%; text-align: left"><span style="font-style: normal; font-weight: normal">$</span></td><td id="xdx_988_ecustom--NotesPayableCurrentNonCurrent_iI_c20221231__us-gaap--PlanNameAxis__custom--SeniorRevolverLoanAgreementMember_zKeEarbhWIr6" style="width: 12%; text-align: right" title="Notes payable current non current"><span style="font-style: normal; font-weight: normal">5,869,500</span></td><td style="width: 1%; text-align: left"><span style="font-style: normal; font-weight: normal"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Long Term Note Payable – Related Party</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtCurrent_iI_c20230331__us-gaap--PlanNameAxis__custom--LongTermNotePayableMember_zk8YOANcneZf" style="text-align: right" title="Long term debt">1,073,376</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtCurrent_iI_c20221231__us-gaap--PlanNameAxis__custom--LongTermNotePayableMember_zkrKag7gNAPh" style="text-align: right" title="Long term debt">1,076,987</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Equipment and vehicle notes, <span id="xdx_906_ecustom--EquipmentAndVehicleNotes_iI_pid_dp_uPure_c20230331__srt--RangeAxis__srt--MinimumMember_zjTTCyyuERn8">0</span>% to <span id="xdx_907_ecustom--EquipmentAndVehicleNotes_iI_pid_dp_uPure_c20230331__srt--RangeAxis__srt--MaximumMember_zxtmqnAqIeBi" title="Equipment and vehicle notes">9.0</span>% interest rates, due in 2025  to 2027 with monthly payments ranging from $<span id="xdx_90E_ecustom--MonthlyPayments_iI_c20230331__srt--RangeAxis__srt--MinimumMember_zifheA6DsYTe" title="Monthly payments">400</span> to $<span id="xdx_90C_ecustom--MonthlyPayments_iI_c20230331__srt--RangeAxis__srt--MaximumMember_zNItrJgcsFTi" title="Monthly payments">1,400</span> per month</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--NotesPayableCurrentNonCurrent_iI_c20230331__us-gaap--PlanNameAxis__custom--VariousVehicleandEquipmentLoansMember_zLRDJYkxOYK8" style="text-align: right" title="Notes payable current non current">296,994</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--NotesPayableCurrentNonCurrent_iI_c20221231__us-gaap--PlanNameAxis__custom--VariousVehicleandEquipmentLoansMember_zIcI1hSV6XMe" style="text-align: right" title="Notes payable current non current">252,924</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Note Payable to insurance provider, bears <span id="xdx_903_ecustom--NotePayableToInsuranceProvider_iI_pid_dp_uPure_c20230331_zI6WMhI1Ur5g" title="Note payable to insurance provider">5.78</span>% <br/>      interest, matures January 2024, monthly payments <br/>      of principal and interest of $<span id="xdx_908_ecustom--MonthlyPaymentsOfPrincipalAndInterest_iI_c20230331_zc7QFFCuW29" title="Monthly payments of principal and interest">46,928</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--NotesPayableCurrentNonCurrent_iI_c20230331__us-gaap--PlanNameAxis__custom--NotePayableToInsuranceMember_zAKk5iJTDTTa" style="border-bottom: Black 1pt solid; text-align: right" title="Notes payable current non current">409,242</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--NotesPayableCurrentNonCurrent_iI_c20221231__us-gaap--PlanNameAxis__custom--NotePayableToInsuranceMember_zxxCIthoj9n" style="border-bottom: Black 1pt solid; text-align: right" title="Notes payable current non current"><span style="-sec-ix-hidden: xdx2ixbrl0661">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Total debt</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--TotalDebtCurrentnoncurrent_iI_c20230331_zEc8BK6oSXZg" style="text-align: right" title="Total Debt">7,149,112</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TotalDebtCurrentnoncurrent_iI_c20221231_zvoSDZ5nEFE" style="text-align: right" title="Total Debt">7,199,411</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Less: Current maturities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--NotesPayableCurrentMaturities_iI_c20230331_zfgaWxRVwL4c" style="text-align: right" title="Less Current maturities">(2,481,236</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--NotesPayableCurrentMaturities_iI_c20221231_zrkcQHDFpqt5" style="text-align: right" title="Less Current maturities">(2,059,309</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Less: Long Term Note Payable – Related Party</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermNotesPayable_iNI_di_c20230331_z4yb2eGhh0Bb" style="border-bottom: Black 1pt solid; text-align: right" title="Less Long Term Note Payable Related Party">(1,073,376</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermNotesPayable_iNI_di_c20221231_zap5klfjLbTc" style="border-bottom: Black 1pt solid; text-align: right" title="Less Long Term Note Payable Related Party">(1,076,987</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 2.5pt">Long-Term debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermDebtCurrent_iI_c20230331_zRtOUjY7utnj" style="border-bottom: Black 2.5pt double; text-align: right" title="Long Term Debt">3,594,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--LongTermDebtCurrent_iI_c20221231_zNSUakJDW0D3" style="border-bottom: Black 2.5pt double; text-align: right" title="Long Term Debt">4,063,115</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2023Q1 empr Note Payable To Insurance Provider
NotePayableToInsuranceProvider
0.0578 pure
CY2023Q1 empr Monthly Payments Of Principal And Interest
MonthlyPaymentsOfPrincipalAndInterest
46928 usd
CY2023Q1 empr Total Debt Currentnoncurrent
TotalDebtCurrentnoncurrent
7149112 usd
CY2022Q4 empr Total Debt Currentnoncurrent
TotalDebtCurrentnoncurrent
7199411 usd
CY2023Q1 empr Notes Payable Current Maturities
NotesPayableCurrentMaturities
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CY2022Q4 empr Notes Payable Current Maturities
NotesPayableCurrentMaturities
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CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
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CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
3594500 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4063115 usd
CY2023Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
77600 usd
CY2022Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
60000 usd
CY2023Q1 empr Cash Paid
CashPaid
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CY2022Q1 empr Cash Paid
CashPaid
59000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
821024 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
978548 usd
CY2023Q1 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
256975 usd
CY2022Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
256975 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
519852 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
547692 usd
CY2023Q1 empr Total Right Of Use Lease Liabilities
TotalRightOfUseLeaseLiabilities
776827 usd
CY2022Q4 empr Total Right Of Use Lease Liabilities
TotalRightOfUseLeaseLiabilities
804667 usd
CY2023Q1 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
323959 usd
CY2023Q1 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
311849 usd
CY2023Q1 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
187852 usd
CY2023Q1 empr Capital Leases Future Minimum Payments Due In Six Years
CapitalLeasesFutureMinimumPaymentsDueInSixYears
37200 usd
CY2023Q1 empr Capital Leases Future Minimum Payments Due In Seven Years
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3100 usd
CY2023Q1 us-gaap Capital Leases Future Minimum Payments Due In Five Years
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863960 usd
CY2023Q1 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
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87133 usd
CY2023Q1 us-gaap Capital Lease Obligations
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776827 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
190000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
the voting rights of the Series A Voting Preferred Stock are contingent upon the Initial Holder and Permitted Transferees (collectively, the “Series A Holders”) holding together at least 3,000,000 shares of the Company’s outstanding common stock.
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2348009 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
224288 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
15.42
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
11089 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
11.82
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
36701 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
15.32
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
176498 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
15.66
CY2022Q4 empr Outstanding At Beginning
OutstandingAtBeginning
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CY2022Q4 empr Weighted Average Exercise Price Beginning
WeightedAverageExercisePriceBeginning
3.31
CY2023Q1 empr Options Cancelled
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CY2023Q1 empr Weighted Average Exercise Price Cancelled
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3.29
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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2.91
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2006466 shares
CY2023Q1 empr Options Exercisable Weighted Average Exercise Price
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2.91
CY2023Q1 empr Options Exercisable Ending
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CY2023Q1 empr Options Exercisable Weighted Average Exercise Price Ending
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2.18
CY2023Q1 empr Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Amount1
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CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022Q1 empr Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Amount1
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CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2023Q1 empr Income Tax Reconciliation Valuation Allowance
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CY2023Q1 empr Valuation Allowance
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CY2022Q1 empr Income Tax Reconciliation Valuation Allowance
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CY2022Q1 empr Valuation Allowance
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CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2023Q1 empr Percentage Of Ownership
PercentageOfOwnership
0.24 pure

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