2021 Form 10-K Financial Statement
#000149315222007884 Filed on March 28, 2022
Income Statement
| Concept | 2021 | 2020 |
|---|---|---|
| Revenue | $6.658M | $2.330M |
| YoY Change | 185.75% | -64.54% |
| Cost Of Revenue | $3.458M | $2.110M |
| YoY Change | 63.89% | -28.96% |
| Gross Profit | $3.200M | $220.0K |
| YoY Change | 1354.55% | -93.89% |
| Gross Profit Margin | 48.06% | 9.44% |
| Selling, General & Admin | $4.635M | $2.650M |
| YoY Change | 74.91% | -39.64% |
| % of Gross Profit | 144.84% | 1204.55% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $0.00 | $470.0K |
| YoY Change | -100.0% | -43.37% |
| % of Gross Profit | 0.0% | 213.64% |
| Operating Expenses | $4.635M | $2.640M |
| YoY Change | 75.57% | -39.86% |
| Operating Profit | -$1.435M | -$2.420M |
| YoY Change | -40.7% | 206.33% |
| Interest Expense | -$307.0K | -$100.0K |
| YoY Change | 207.0% | -58.33% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $47.00K | $60.00K |
| YoY Change | -21.67% | -53.85% |
| Pretax Income | -$1.770M | -$6.480M |
| YoY Change | -72.69% | 1078.18% |
| Income Tax | -$40.00K | |
| % Of Pretax Income | ||
| Net Earnings | -$1.770M | -$6.440M |
| YoY Change | -72.52% | 1070.91% |
| Net Earnings / Revenue | -26.58% | -276.39% |
| Basic Earnings Per Share | -$0.39 | |
| Diluted Earnings Per Share | -$394.0K | -$3.951M |
| COMMON SHARES | ||
| Basic Shares Outstanding | 4.492M shares | |
| Diluted Shares Outstanding | 4.492M shares |
Balance Sheet
| Concept | 2021 | 2020 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $4.613M | $3.000M |
| YoY Change | 53.77% | 66.67% |
| Cash & Equivalents | $4.422M | $2.900M |
| Short-Term Investments | $191.0K | $200.0K |
| Other Short-Term Assets | $429.0K | $1.200M |
| YoY Change | -64.25% | 1100.0% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $933.0K | $500.0K |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $5.975M | $4.700M |
| YoY Change | 27.13% | 74.07% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $8.789M | $7.600M |
| YoY Change | 15.64% | -28.97% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $2.899M | $100.0K |
| YoY Change | 2799.0% | |
| Total Long-Term Assets | $11.69M | $7.700M |
| YoY Change | 51.79% | -28.7% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $5.975M | $4.700M |
| Total Long-Term Assets | $11.69M | $7.700M |
| Total Assets | $17.66M | $12.40M |
| YoY Change | 42.44% | -8.15% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.447M | $1.500M |
| YoY Change | -3.53% | 50.0% |
| Accrued Expenses | $1.276M | $400.0K |
| YoY Change | 219.0% | 100.0% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $400.0K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $2.742M | $2.200M |
| YoY Change | 24.64% | 83.33% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $1.486M | $1.600M |
| YoY Change | -7.13% | 60.0% |
| Total Long-Term Liabilities | $1.486M | $1.600M |
| YoY Change | -7.13% | 60.0% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $2.742M | $2.200M |
| Total Long-Term Liabilities | $1.486M | $1.600M |
| Total Liabilities | $4.228M | $3.800M |
| YoY Change | 11.26% | 65.22% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $13.44M | $8.600M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $17.66M | $12.40M |
| YoY Change | 42.44% | -8.15% |
Cashflow Statement
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
| CY2021 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
| CY2020Q4 | USEG |
Capitalized Costs Pending Acquisition
CapitalizedCostsPendingAcquisition
|
USD | |
| CY2021Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
USD | |
| CY2020Q4 | USEG |
Warrant Liability Current
WarrantLiabilityCurrent
|
USD | |
| CY2021Q4 | USEG |
Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
|
USD | |
| CY2021 | us-gaap |
Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
|
Unlimited | |
| CY2020 | us-gaap |
Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
|
Unlimited | |
| CY2021 | us-gaap |
Results Of Operations Impairment Of Oil And Gas Properties
ResultsOfOperationsImpairmentOfOilAndGasProperties
|
USD | |
| CY2020 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
USD | |
| CY2021 | USEG |
Recovery Of Deposit
RecoveryOfDeposit
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
USD | |
| CY2021 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
USD | |
| CY2021 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
USD | |
| CY2020 | USEG |
Loss On Related Party Debt Conversion And Settlement Of Legal Costs
LossOnRelatedPartyDebtConversionAndSettlementOfLegalCosts
|
USD | |
| CY2020 | us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
USD | |
| CY2021 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
USD | |
| CY2020 | USEG |
Payments For Expenditures For Pending Acquisition
PaymentsForExpendituresForPendingAcquisition
|
USD | |
| CY2020 | USEG |
Payments For Property And Equipment Additions
PaymentsForPropertyAndEquipmentAdditions
|
USD | |
| CY2021 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
USD | |
| CY2020 | us-gaap |
Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
|
USD | |
| CY2020 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
USD | |
| CY2021 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
USD | |
| CY2021 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
USD | |
| CY2021 | us-gaap |
Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
|
USD | |
| CY2021 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
USD | |
| CY2021 | USEG |
Payments For Fractional Shares In Reverse Stock Split
PaymentsForFractionalSharesInReverseStockSplit
|
USD | |
| CY2020 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
USD | |
| CY2021 | us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
USD | |
| CY2020 | USEG |
Prepaid Rent Liability Netted With Proceeds On Sale Of Real Estate
PrepaidRentLiabilityNettedWithProceedsOnSaleOfRealEstate
|
USD | |
| CY2020 | us-gaap |
Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
|
USD | |
| CY2021 | USEG |
Shares Issued In Redemption Of Series Preferred Stock
SharesIssuedInRedemptionOfSeriesPreferredStock
|
USD | |
| CY2020 | us-gaap |
Stock Issued1
StockIssued1
|
USD | |
| CY2020 | USEG |
Issuance Of Stock For Settlement Of Related Party Legal Costs
IssuanceOfStockForSettlementOfRelatedPartyLegalCosts
|
USD | |
| CY2021 | us-gaap |
Depreciation
Depreciation
|
USD | |
| CY2021 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
|
USD | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2021 | USEG |
Preferred Stock Dividend Income Statement Impact
PreferredStockDividendIncomeStatementImpact
|
USD | |
| CY2021 | USEG |
Gain On Redemption Of Preferred Stock
GainOnRedemptionOfPreferredStock
|
USD | |
| CY2021 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | |
| CY2020 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
shares | |
| CY2021 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
USD | |
| CY2021 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
USD | |
| CY2021 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
USD | |
| CY2020 | srt |
Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
|
USD | |
| CY2020 | srt |
Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
|
USD | |
| CY2020 | srt |
Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
|
USD | |
| CY2021Q4 | USEG |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
|
62.79 | |
| CY2020Q4 | USEG |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
|
64.78 |
