2024 Q3 Form 10-Q Financial Statement

#000149315224030880 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.790M $8.512M
YoY Change 39.2% 197.89%
% of Gross Profit
Research & Development $25.32K $56.69K
YoY Change
% of Gross Profit
Depreciation & Amortization $710.00
YoY Change -99.83%
% of Gross Profit
Operating Expenses $8.816M $8.569M
YoY Change 26.85% -56.89%
Operating Profit -$8.816M -$8.569M
YoY Change 35.8% -56.5%
Interest Expense $431.6K $55.14K
YoY Change -114.91% 26.12%
% of Operating Profit
Other Income/Expense, Net -$2.608M $55.14K
YoY Change -90.66% -103.81%
Pretax Income -$11.42M -$8.514M
YoY Change -66.81% -59.74%
Income Tax
% Of Pretax Income
Net Earnings -$11.40M -$8.500M
YoY Change -66.88% -59.72%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68 -$0.71
Diluted Earnings Per Share -$0.68 -$0.71
COMMON SHARES
Basic Shares Outstanding 12.56M shares 12.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.05M $2.226M
YoY Change 453.07% -73.96%
Cash & Equivalents $40.10M $2.200M
Short-Term Investments
Other Short-Term Assets $267.4K $1.874M
YoY Change -1.64% 391.63%
Inventory
Prepaid Expenses $267.4K $249.1K
Receivables
Other Receivables $500.0K $500.0K
Total Short-Term Assets $57.08M $4.604M
YoY Change 649.94% -49.0%
LONG-TERM ASSETS
Property, Plant & Equipment $42.15M $33.37M
YoY Change 30.39% 354.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.82K $9.591M
YoY Change -81.46% 6294.22%
Total Long-Term Assets $50.10M $43.63M
YoY Change 54.24% 481.75%
TOTAL ASSETS
Total Short-Term Assets $57.08M $4.604M
Total Long-Term Assets $50.10M $43.63M
Total Assets $107.2M $48.23M
YoY Change 167.33% 191.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.222M $3.821M
YoY Change 301.06% 138.12%
Accrued Expenses $7.577M $2.732M
YoY Change 25156.17% 14032.8%
Deferred Revenue
YoY Change
Short-Term Debt $5.281M $0.00
YoY Change 8.6% -100.0%
Long-Term Debt Due $14.25M
YoY Change 193.03%
Total Short-Term Liabilities $45.01M $12.51M
YoY Change 287.99% 74.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $875.1K $175.5K
YoY Change -98.28% -85.8%
Total Long-Term Liabilities $875.1K $175.5K
YoY Change -98.28% -87.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.01M $12.51M
Total Long-Term Liabilities $875.1K $175.5K
Total Liabilities $45.89M $12.68M
YoY Change -26.39% 48.59%
SHAREHOLDERS EQUITY
Retained Earnings -$107.8M -$96.40M
YoY Change 94.58% 359.05%
Common Stock $229.2K $125.6K
YoY Change 223.95% -92.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.29M $35.55M
YoY Change
Total Liabilities & Shareholders Equity $107.2M $48.23M
YoY Change 167.33% 191.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$11.40M -$8.500M
YoY Change -66.88% -59.72%
Depreciation, Depletion And Amortization $710.00
YoY Change -99.83%
Cash From Operating Activities $2.791M -$5.123M
YoY Change -197.0% 4.8%
INVESTING ACTIVITIES
Capital Expenditures $5.187M $1.878M
YoY Change -71.37% -40.74%
Acquisitions
YoY Change
Other Investing Activities $3.046M $163.5K
YoY Change -174.85%
Cash From Investing Activities -$2.141M -$1.715M
YoY Change -88.18% -49.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.18M 5.017M
YoY Change 88.86% -70.43%
NET CHANGE
Cash From Operating Activities 2.791M -5.123M
Cash From Investing Activities -2.141M -1.715M
Cash From Financing Activities 37.18M 5.017M
Net Change In Cash 37.83M -1.821M
YoY Change -2988.2% -120.96%
FREE CASH FLOW
Cash From Operating Activities $2.791M -$5.123M
Capital Expenditures $5.187M $1.878M
Free Cash Flow -$2.396M -$7.002M
YoY Change -88.59% -13.11%

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CY2023Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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InterestIncomeOther
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us-gaap Interest Income Other
InterestIncomeOther
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us-gaap Interest Income Other
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InterestExpenseOther
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us-gaap Interest Expense Other
InterestExpenseOther
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CY2023Q2 PROP Loss On Adjustment To Fair Value Ar Debentures
LossOnAdjustmentToFairValueArDebentures
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PROP Loss On Adjustment To Fair Value Ar Debentures
LossOnAdjustmentToFairValueArDebentures
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CY2023Q2 PROP Gains Losses On Adjustment To Fair Value Obligation Shares
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PROP Gains Losses On Adjustment To Fair Value Obligation Shares
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CY2024Q2 us-gaap Nonoperating Income Expense
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CY2023Q2 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2024Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
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CY2023Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
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CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2024Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2023Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
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CY2023Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
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us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
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us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
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us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
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us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.39
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.74
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12000568 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12000568 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3925299 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3925299 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11002778 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11002778 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1973493 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1973493 shares
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q1 PROP Stock Issued During Period Value New Issues Of Common Stock Upon Warrant Exercise
StockIssuedDuringPeriodValueNewIssuesOfCommonStockUponWarrantExercise
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CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q2 PROP Stock Issued During Period Value New Issues Of Common Stock Upon Warrant Exercise
StockIssuedDuringPeriodValueNewIssuesOfCommonStockUponWarrantExercise
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CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q2 PROP Stock Issued During Period Value Conversion Of Membership Interest
StockIssuedDuringPeriodValueConversionOfMembershipInterest
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CY2023Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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CY2023Q2 us-gaap Profit Loss
ProfitLoss
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-16506198 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Share Based Compensation
ShareBasedCompensation
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PROP Loss On Adjustment To Fair Value Ar Debentures
LossOnAdjustmentToFairValueArDebentures
-741000 usd
PROP Gains Losses On Adjustment To Fair Value Obligation Shares
GainsLossesOnAdjustmentToFairValueObligationShares
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5843965 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1837050 usd
PROP Increase Decrease In Accrued Interest And Expenses Related Parties
IncreaseDecreaseInAccruedInterestAndExpensesRelatedParties
17249 usd
PROP Increase Decrease In Deferred Financing Costs
IncreaseDecreaseInDeferredFinancingCosts
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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PROP Payments To Deposit On Asset Purchase
PaymentsToDepositOnAssetPurchase
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us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
382314 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
3544816 usd
PROP Payments To Acquisition Of Unproved Oil And Natural Gas Properties
PaymentsToAcquisitionOfUnprovedOilAndNaturalGasProperties
3000000 usd
PROP Cash Received From Sale Of Cryptocurrency Miners
CashReceivedFromSaleOfCryptocurrencyMiners
1000000 usd
PROP Note Receivable Related To Sale Of Cryptocurrency Miners
NoteReceivableRelatedToSaleOfCryptocurrencyMiners
186007 usd
PROP Deferred Transaction Costs Related To Nickel Road Asset Purchase
DeferredTransactionCostsRelatedToNickelRoadAssetPurchase
100056 usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3435189 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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PROP Proceeds From Issuance Of Series D Preferred Stock And Warrants
ProceedsFromIssuanceOfSeriesDPreferredStockAndWarrants
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us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
409048 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
9478393 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
16967202 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9478393 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8471638 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13036950 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
79845 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2226478 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8551483 usd
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
reverse stock split at an exchange ratio of 1:28.5714286.
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
1 pure
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-8500000 usd
us-gaap Net Income Loss
NetIncomeLoss
-17600000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2200000 usd
CY2024Q2 PROP Working Capital Surplus
WorkingCapitalSurplus
7900000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-96400000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6.00
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
24000000.0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zXxqVyac0rWj" style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zwi4xbA1VOMh">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial instruments, which consist of cash and cash equivalents, are potentially subject to concentrations of credit risk. The Company places its cash with high quality financial institutions and at times may exceed the FDIC $<span id="xdx_90A_eus-gaap--CashFDICInsuredAmount_iI_c20240630_zUBAKBe21JMk" title="Cash, FDIC insured amount">250,000</span> insurance limit. The Company does not anticipate incurring any losses related to these credit risks.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20298805 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11977347 shares
PROP Common Stock Issued Upon Conversion Of Series D Preferred Stock
CommonStockIssuedUponConversionOfSeriesDPreferredStock
4120450 usd
PROP Capital Expenditures Included In Accrued Liabilities
CapitalExpendituresIncludedInAccruedLiabilities
-1120098 usd
PROP Cryptocurrency Mining Equipment And Deposits Acquired In Merger
CryptocurrencyMiningEquipmentAndDepositsAcquiredInMerger
20760560 usd
PROP Secured Convertible Debentures Assumed In Merger
SecuredConvertibleDebenturesAssumedInMerger
1981000 usd
PROP Sba Loan Payable Acquired Assumed In Merger
SbaLoanPayableAcquiredAssumedInMerger
150000 usd
PROP Membership Interests Converted Into Shares Of Common Stock
MembershipInterestsConvertedIntoSharesOfCommonStock
-606705 usd
PROP Common Stock Issued At Merger
CommonStockIssuedAtMerger
9928262 usd
PROP Series D Preferred Stock Issued At Merger
SeriesDPreferredStockIssuedAtMerger
3209196 usd
PROP Deferred Transaction Costs Capitalized To Oil And Natural Gas Properties
DeferredTransactionCostsCapitalizedToOilAndNaturalGasProperties
189031 usd
PROP Deferred Transaction Costs Associated With Financing
DeferredTransactionCostsAssociatedWithFinancing
519533 usd
us-gaap Interest Paid Net
InterestPaidNet
9503 usd
CY2024Q1 us-gaap Cash
Cash
1000000.0 usd
CY2024Q1 us-gaap Deferred Revenue Refund Payments1
DeferredRevenueRefundPayments1
1000000.0 usd
CY2024Q1 PROP Cryptocurrency Mining Description
CryptocurrencyMiningDescription
(i) 20% of the monthly net revenues received by the buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals $250,000 and (ii) thereafter, 50% of the monthly net revenues received by the buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals the Deferred Purchase Price, plus accrued interest, (collectively, the “Crypto Sale”)
CY2024Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
500000 usd
CY2024Q2 us-gaap Other Receivable After Allowance For Credit Loss Noncurrent
OtherReceivableAfterAllowanceForCreditLossNoncurrent
300000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1100000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
322655 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
3182307 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
3504962 usd
CY2023Q2 PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Revenue
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningRevenue
179318 usd
PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Revenue
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningRevenue
192625 usd
PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Revenue
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningRevenue
179318 usd
CY2023Q2 PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Costs
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningCosts
93244 usd
PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Costs
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningCosts
55063 usd
PROP Disposal Group Including Discontinued Operation Cryptocurrency Mining Costs
DisposalGroupIncludingDiscontinuedOperationCryptocurrencyMiningCosts
93244 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
132851 usd
us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
102210 usd
us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
132851 usd
CY2023Q2 PROP Disposal Group Including Discontinued Operation Impairment Of Cryptocurrency Mining Equipment
DisposalGroupIncludingDiscontinuedOperationImpairmentOfCryptocurrencyMiningEquipment
16794688 usd
PROP Disposal Group Including Discontinued Operation Impairment Of Cryptocurrency Mining Equipment
DisposalGroupIncludingDiscontinuedOperationImpairmentOfCryptocurrencyMiningEquipment
16794688 usd
PROP Disposal Group Including Discontinued Operation Loss From Sale Of Cryptocurrency Mining Equipment
DisposalGroupIncludingDiscontinuedOperationLossFromSaleOfCryptocurrencyMiningEquipment
-1080097 usd
CY2023Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
16841465 usd
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
1044745 usd
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
16841465 usd
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-16841465 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1044745 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-16841465 usd
CY2023Q2 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
3000000.0 usd
CY2023Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
2032696 usd
CY2023Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15170154 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
42360 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
8014 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
63795 usd
CY2023Q2 PROP Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Mining Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMiningEquipment
18140874 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
2928138 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
3352389 usd
CY2023Q2 PROP Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Convertible Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesConvertibleLiability
1981000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
150000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
529638 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
15170154 usd
CY2024Q2 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
33370317 usd
CY2023Q4 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
28705404 usd
CY2024Q2 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
33370317 usd
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
CapitalizedCostsOilAndGasProducingActivitiesGross
28705404 usd
CY2024Q2 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
33370317 usd
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
28705404 usd
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
3820663 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2295575 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2564028 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
200641 usd
CY2024Q2 PROP Incentive Compensation
IncentiveCompensation
5015292 usd
CY2023Q4 PROP Incentive Compensation
IncentiveCompensation
1925191 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
938572 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
953087 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
12338555 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5374494 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
356450 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
155253 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
343351 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
135706 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.102 pure
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
50654 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
89925 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12600 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
25200 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
63254 usd
us-gaap Lease Cost
LeaseCost
115125 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
96776 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
197138 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
82479 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3738 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
380131 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
36780 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
343351 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
83261 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
270290 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 PROP Non Compensatory Options To Purchase Membership Interest
NonCompensatoryOptionsToPurchaseMembershipInterest
0.40 pure
CY2022Q3 PROP Purchase Of Non Compensatory Options
PurchaseOfNonCompensatoryOptions
1000000 usd
CY2022Q3 PROP Sale Of Non Compensatory Options
SaleOfNonCompensatoryOptions
80000 usd
CY2022Q3 PROP Restricted Options Exercisable Increments Percentage
RestrictedOptionsExercisableIncrementsPercentage
0.25 pure
CY2022Q3 PROP Barrels Of Oil Equivalent Per Day One
BarrelsOfOilEquivalentPerDayOne
2500 boed
CY2022Q3 PROP Barrels Of Oil Equivalent Per Day Two
BarrelsOfOilEquivalentPerDayTwo
5000 boed
CY2022Q3 PROP Barrels Of Oil Equivalent Per Day Three
BarrelsOfOilEquivalentPerDayThree
7500 boed
CY2022Q3 PROP Barrels Of Oil Equivalent Per Day Four
BarrelsOfOilEquivalentPerDayFour
10000 boed
PROP Stock Issued During Period Shares Non Compensatory Options Acquire
StockIssuedDuringPeriodSharesNonCompensatoryOptionsAcquire
8000000 shares
CY2024Q2 us-gaap Share Price
SharePrice
0.25
PROP Stock Issued During Period Value Options Are Subject To Be Ttransferred
StockIssuedDuringPeriodValueOptionsAreSubjectToBeTtransferred
2000000 usd
CY2024Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P3Y9M18D
CY2023Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y3M18D
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
7500000 shares
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001493152-24-030880-index-headers.html Edgar Link pending
0001493152-24-030880-index.html Edgar Link pending
0001493152-24-030880.txt Edgar Link pending
0001493152-24-030880-xbrl.zip Edgar Link pending
ex10-2.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
prop-20240630.xsd Edgar Link pending
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prop-20240630_cal.xml Edgar Link unprocessable
prop-20240630_def.xml Edgar Link unprocessable
prop-20240630_lab.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
prop-20240630_pre.xml Edgar Link unprocessable