$VYEY
Victory Clean Energy Inc Stock $vyey

$vyey Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000121390022047665 Filed on August 15, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2022 Q1
Revenue	$327.6K	$557.8K	$333.1K
YoY Change	27.35%	170.91%	113.03%
Cost Of Revenue	$237.3K	$292.7K	$171.2K
YoY Change	64.64%	147.03%	82.88%
Gross Profit	$90.26K	$265.1K	$161.9K
YoY Change	-20.19%	203.29%	158.03%
Gross Profit Margin	27.55%	47.53%	48.6%
Selling, General & Admin	$272.7K	$349.1K	$227.3K
YoY Change	-12.45%	33.49%	19.65%
% of Gross Profit	302.12%	131.69%	140.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$43.92K	$40.90K	$40.37K
YoY Change	15.98%	7.97%	6.6%
% of Gross Profit	48.66%	15.43%	24.94%
Operating Expenses	$278.2K	$354.6K	$232.6K
YoY Change	-12.14%	32.98%	19.2%
Operating Profit	-$187.9K	-$89.51K	-$70.69K
YoY Change	-7.66%	-50.07%	-46.6%
Interest Expense	$4.653K	$9.517K	-$10.57K
YoY Change	-124.7%	-16.05%	-14.0%
% of Operating Profit
Other Income/Expense, Net	$49.53K	$106.0K
YoY Change		7810.45%
Pretax Income	-$143.1K	$6.980K	-$81.26K
YoY Change	179.39%	-103.69%	-43.82%
Income Tax
% Of Pretax Income
Net Earnings	-$143.0K	$6.977K	-$81.26K
YoY Change	179.39%	-103.69%	-43.82%
Net Earnings / Revenue	-43.67%	1.25%	-24.39%
Basic Earnings Per Share	-$0.01	$0.00	$0.00
Diluted Earnings Per Share	-$0.01	$0.00	-$2.898K
COMMON SHARES
Basic Shares Outstanding	28.04M shares	28.07M shares	28.04M shares
Diluted Shares Outstanding	28.04M shares	39.94M shares	28.04M shares

Balance Sheet

Concept	2022 Q3	2022 Q2	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$101.2K	$30.07K	$34.25K
YoY Change	168.59%	-81.09%	-84.89%
Cash & Equivalents	$101.2K	$30.07K	$34.25K
Short-Term Investments
Other Short-Term Assets	$44.21K	$83.16K	$122.1K
YoY Change	-63.1%	-48.84%	-28.76%
Inventory	$39.81K	$22.18K	$41.70K
Prepaid Expenses
Receivables	$152.0K	$338.0K	$204.8K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$337.2K	$473.4K	$402.9K
YoY Change	-17.05%	-18.79%	-26.94%
LONG-TERM ASSETS
Property, Plant & Equipment	$202.0K	$241.6K	$207.2K
YoY Change	-29.99%	-24.98%	-41.74%
Goodwill	$145.1K	$145.1K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets			$0.00
YoY Change
Total Long-Term Assets	$447.7K	$491.7K	$461.6K
YoY Change	-18.81%	-16.82%	-26.41%
TOTAL ASSETS
Total Short-Term Assets	$337.2K	$473.4K	$402.9K
Total Long-Term Assets	$447.7K	$491.7K	$461.6K
Total Assets	$784.9K	$965.1K	$864.4K
YoY Change	-18.06%	-17.8%	-26.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$113.9K	$142.8K	$125.1K
YoY Change	-76.12%	-72.08%	-74.44%
Accrued Expenses	$94.27K	$112.2K	$139.1K
YoY Change	-35.59%	-41.21%	0.78%
Deferred Revenue
YoY Change
Short-Term Debt	$282.5K	$293.5K	$0.00
YoY Change
Long-Term Debt Due	$15.82K	$15.81K	$3.644M
YoY Change	-99.54%	-99.52%	13.34%
Total Short-Term Liabilities	$4.122M	$4.157M	$4.088M
YoY Change	-2.23%	-1.3%	1.51%
LONG-TERM LIABILITIES
Long-Term Debt	$262.8K	$264.3K	$239.9K
YoY Change	5.72%	-36.69%	-42.54%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$262.8K	$264.3K	$239.9K
YoY Change	5.72%	-36.69%	-42.54%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.122M	$4.157M	$4.088M
Total Long-Term Liabilities	$262.8K	$264.3K	$239.9K
Total Liabilities	$4.384M	$4.422M	$4.328M
YoY Change	-1.79%	-4.49%	-2.63%
SHAREHOLDERS EQUITY
Retained Earnings	-$99.13M	-$98.99M
YoY Change
Common Stock	$28.04K	$28.04K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$3.600M	-$3.457M	-$3.463M
YoY Change
Total Liabilities & Shareholders Equity	$784.9K	$965.1K	$864.4K
YoY Change	-18.06%	-17.8%	-26.66%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2022 Q1
OPERATING ACTIVITIES
Net Income	-$143.0K	$6.977K	-$81.26K
YoY Change	179.39%	-103.69%	-43.82%
Depreciation, Depletion And Amortization	$43.92K	$40.90K	$40.37K
YoY Change	15.98%	7.97%	6.6%
Cash From Operating Activities	$62.49K	-$29.64K	-$95.65K
YoY Change	-131.83%	-82.33%	-37.17%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$70.99K	$0.00
YoY Change			-100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	$0.00	-$70.99K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	8.600K	96.44K	77.00K
YoY Change	-88.53%	-3.56%	-64.94%
NET CHANGE
Cash From Operating Activities	62.49K	-29.64K	-95.65K
Cash From Investing Activities	0.000	-70.99K
Cash From Financing Activities	8.600K	96.44K	77.00K
Net Change In Cash	71.09K	-4.190K	$0.00
YoY Change	-158.59%	-93.81%	-100.0%
FREE CASH FLOW
Cash From Operating Activities	$62.49K	-$29.64K	-$95.65K
Capital Expenditures	$0.00	-$70.99K	$0.00
Free Cash Flow	$62.49K	$41.35K	-$95.65K
YoY Change	-131.83%	-124.65%	-19.78%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	002-76219-NY
	dei	Entity Registrant Name EntityRegistrantName	VICTORY OILFIELD TECH, INC.
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	87-0564472
	dei	Entity Address Address Line1 EntityAddressAddressLine1	3355 Bee Caves Road
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 608
	dei	Entity Address City Or Town EntityAddressCityOrTown	Austin
	dei	Entity Address State Or Province EntityAddressStateOrProvince	TX
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	78746
	dei	City Area Code CityAreaCode	(512)
	dei	Local Phone Number LocalPhoneNumber	-347-7300
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	28037713	shares
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	30067	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	52908	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	338027	usd
CY2021Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	153383	usd
CY2022Q2	us-gaap	Inventory Net InventoryNet	22181	usd
CY2021Q4	us-gaap	Inventory Net InventoryNet	24915	usd
CY2022Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	83160	usd
CY2021Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	31271	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	473435	usd
CY2021Q4	us-gaap	Assets Current AssetsCurrent	262477	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	241557	usd
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	243205	usd
CY2022Q2	us-gaap	Goodwill Goodwill	145149	usd
CY2021Q4	us-gaap	Goodwill Goodwill	145149	usd
CY2022Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	104949	usd
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	113575	usd
CY2022Q2	us-gaap	Assets Assets	965090	usd
CY2021Q4	us-gaap	Assets Assets	764406	usd
CY2022Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	142755	usd
CY2021Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	100754	usd
CY2022Q2	vyey	Short Term Advance From Shareholder ShortTermAdvanceFromShareholder	180150	usd
CY2021Q4	vyey	Short Term Advance From Shareholder ShortTermAdvanceFromShareholder	180150	usd
CY2022Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	15807	usd
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	8772	usd
CY2022Q2	vyey	Accrued And Other Short Term Liabilities AccruedAndOtherShortTermLiabilities	112152	usd
CY2021Q4	vyey	Accrued And Other Short Term Liabilities AccruedAndOtherShortTermLiabilities	66826	usd
CY2022Q2	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	3706476	usd
CY2021Q4	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	3550276	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	4157340	usd
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	3906778	usd
CY2022Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	264253	usd
CY2021Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	239850	usd
CY2022Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	264253	usd
CY2021Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	239850	usd
CY2022Q2	us-gaap	Liabilities Liabilities	4421593	usd
CY2021Q4	us-gaap	Liabilities Liabilities	4146628	usd
CY2022Q2	us-gaap	Preferred Stock Value PreferredStockValue	8	usd
CY2021Q4	us-gaap	Preferred Stock Value PreferredStockValue	8	usd
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	300000000	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	300000000	shares
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	28037713	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	28037713	shares
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	28037713	shares
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	28037713	shares
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	28038	usd
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	28038	usd
CY2022Q2	us-gaap	Stockholders Equity Note Subscriptions Receivable StockholdersEquityNoteSubscriptionsReceivable	245000	usd
CY2021Q4	us-gaap	Stockholders Equity Note Subscriptions Receivable StockholdersEquityNoteSubscriptionsReceivable	245000	usd
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	95750830	usd
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	95750830	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-98990379	usd
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-98916098	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-3456503	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-3382222	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	965090	usd
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	764406	usd
CY2022Q2	us-gaap	Revenues Revenues	557793	usd
CY2021Q2	us-gaap	Revenues Revenues	205895	usd
	us-gaap	Revenues Revenues	890911	usd
	us-gaap	Revenues Revenues	362267	usd
CY2022Q2	us-gaap	Cost Of Revenue CostOfRevenue	292686	usd
CY2021Q2	us-gaap	Cost Of Revenue CostOfRevenue	118484	usd
	us-gaap	Cost Of Revenue CostOfRevenue	463914	usd
	us-gaap	Cost Of Revenue CostOfRevenue	212111	usd
CY2022Q2	us-gaap	Gross Profit GrossProfit	265107	usd
CY2021Q2	us-gaap	Gross Profit GrossProfit	87411	usd
	us-gaap	Gross Profit GrossProfit	426997	usd
	us-gaap	Gross Profit GrossProfit	150156	usd
CY2022Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	349130	usd
CY2021Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	261540	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	576451	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	451523	usd
CY2022Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	5483	usd
CY2021Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	5126	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	10744	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	10252	usd
CY2022Q2	us-gaap	Operating Expenses OperatingExpenses	354613	usd
CY2021Q2	us-gaap	Operating Expenses OperatingExpenses	266666	usd
	us-gaap	Operating Expenses OperatingExpenses	587195	usd
	us-gaap	Operating Expenses OperatingExpenses	461775	usd
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-89506	usd
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-179255	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-160198	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-311619	usd
CY2022Q2	us-gaap	Other Income OtherIncome	106000	usd
CY2021Q2	us-gaap	Other Income OtherIncome	1340	usd
	us-gaap	Other Income OtherIncome	106000	usd
	us-gaap	Other Income OtherIncome	1340	usd
CY2022Q2	us-gaap	Interest Expense InterestExpense	9517	usd
CY2021Q2	us-gaap	Interest Expense InterestExpense	11336	usd
	us-gaap	Interest Expense InterestExpense	20083	usd
	us-gaap	Interest Expense InterestExpense	23626	usd
CY2022Q2	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	96483	usd
CY2021Q2	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-9996	usd
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	85917	usd
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-22286	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	6977	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-189251	usd
	us-gaap	Net Income Loss NetIncomeLoss	-74281	usd
	us-gaap	Net Income Loss NetIncomeLoss	-333905	usd
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0
CY2021Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28073713	shares
CY2021Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28073713	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28073713	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28073713	shares
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	39941221	shares
CY2021Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28073713	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28037713	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28073713	shares
	us-gaap	Net Income Loss NetIncomeLoss	-74281	usd
	us-gaap	Net Income Loss NetIncomeLoss	-333905	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	8626	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	8625	usd
	us-gaap	Depreciation Depreciation	72641	usd
	us-gaap	Depreciation Depreciation	67122	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	14200	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	22100	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	184644	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	77212	usd
	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-48560	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-2734	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	17211	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	51889	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	136428	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	42001	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-25726	usd
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	45326	usd
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	124118	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-125286	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-319957	usd
	us-gaap	Cash Provided By Used In Investing Activities Discontinued Operations CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations	-70993	usd
	us-gaap	Cash Provided By Used In Investing Activities Discontinued Operations CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations	-32998	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-70993	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-32998	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	142000	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	221000	usd
	us-gaap	Proceeds From Issuance Of Other Long Term Debt ProceedsFromIssuanceOfOtherLongTermDebt	31438	usd
	us-gaap	Proceeds From Issuance Of Other Long Term Debt ProceedsFromIssuanceOfOtherLongTermDebt	98623	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	173438	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	319623	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-22841	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-33332	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	52908	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	192337	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	30067	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	159005	usd
	us-gaap	Interest Paid Net InterestPaidNet	5675	usd
	us-gaap	Interest Paid Net InterestPaidNet	1526	usd
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	-3266017	usd
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-189251	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	-3455268	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	-3463480	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	6977	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-3456503	usd
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	-3121363	usd
	us-gaap	Net Income Loss NetIncomeLoss	-333905	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-3382222	usd
	us-gaap	Net Income Loss NetIncomeLoss	-74281	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-3456503	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-98990379	usd
CY2022Q2	vyey	Working Capital Deficit WorkingCapitalDeficit	-3683905	usd
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	142000	usd
CY2022Q2	us-gaap	Short Term Borrowings ShortTermBorrowings	293524	usd
CY2021Q4	us-gaap	Accumulated Amortization Of Other Deferred Costs AccumulatedAmortizationOfOtherDeferredCosts	58945	usd
CY2022Q2	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	104949	usd
CY2021Q4	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	113575	usd
	us-gaap	Revenue Recognition Deferred Revenue RevenueRecognitionDeferredRevenue	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue Recognition</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt 0pt 0; text-align: justify">The Company recognizes revenue in accordance with Accounting Standards Codification 606, <i>Revenue from Contracts with Customers (ASC606)</i>. as it satisfies contractual performance obligations by transferring promised goods or services to the customers. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those promised goods or services. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has one revenue stream, which relates to the provision of hardbanding services by its subsidiary Pro-Tech. All performance obligations of the Company’s contracts with customers are satisfied over the duration of the contract as customer-owned equipment is serviced and then made available for immediate use as completed during the service period. The Company has reviewed its contracts with Pro-Tech customers and determined that due to their short-term nature, with durations of several days of service at the customer’s location, it is only those contracts that occur near the end of a financial reporting period that will potentially require allocation to ensure revenue is recognized in the proper period. The Company has reviewed all such transactions and recorded revenue accordingly.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three and six months ended June 30, 2022 and 2021, all of the Company’s revenue was recognized from contracts with oilfield operators. See Note 9 <i>Segment and Geographic Information and Revenue Disaggregation</i> for further information.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the Company’s contracts have an expected duration of one year or less, the Company has elected the practical expedient in ASC 606-10-50-14(a) to not disclose information about its remaining performance obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentration of Credit Risk, Accounts Receivable and Allowance for Doubtful Accounts</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents placed with high credit quality institutions and accounts receivable due from Pro-Tech’s customers. Management evaluates the collectability of accounts receivable based on a combination of factors. If management becomes aware of a customer’s inability to meet its financial obligations after a sale has occurred, the Company records an allowance to reduce the net receivable to the amount that it reasonably believes to be collectable from the customer. Accounts receivable are written off at the point they are considered uncollectible. An allowance of $1,458 and $5,002 has been recorded at June 30, 2022 and December 31, 2021, respectively. The Company suffered no bad debt losses in the six months ended June 30, 2022 and 2021, respectively. If the financial conditions of Pro-Tech’s customers were to deteriorate or if general economic conditions were to worsen, additional allowances may be required in the future. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and December 31, 2021, two and three customers comprised 70% and 65% of the Company’s gross accounts receivables, respectively. For the three months ended June 30, 2022 and 2021, three and three customers comprised 72% and 65% of the Company’s total revenue, respectively. For the six months ended June 30, 2022 and 2021, three and two customers comprised 61% and 54% of the Company’s total revenue, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2	us-gaap	Loans And Leases Receivable Allowance LoansAndLeasesReceivableAllowance	1458	usd
CY2021Q4	us-gaap	Loans And Leases Receivable Allowance LoansAndLeasesReceivableAllowance	5002	usd
	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	67122	usd
CY2022Q2	us-gaap	Weighted Average Basic Shares Outstanding Pro Forma WeightedAverageBasicSharesOutstandingProForma	28037713	shares
CY2021Q2	us-gaap	Weighted Average Basic Shares Outstanding Pro Forma WeightedAverageBasicSharesOutstandingProForma	28037713	shares
CY2022Q2	us-gaap	Pro Forma Weighted Average Shares Outstanding Diluted ProFormaWeightedAverageSharesOutstandingDiluted	36941221	shares
CY2022Q2	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	145149	usd
CY2021Q4	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	145149	usd
CY2018Q3	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P10Y
CY2021Q3	us-gaap	Deposit Liabilities Accrued Interest DepositLiabilitiesAccruedInterest	2373	usd
	vyey	Weighted Average Number Of Share Outstanding Basics And Diluted WeightedAverageNumberOfShareOutstandingBasicsAndDiluted	28037713	shares
	vyey	Weighted Average Number Of Share Outstanding Basics And Diluted WeightedAverageNumberOfShareOutstandingBasicsAndDiluted	28037713	shares
CY2022Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	835732	usd
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	764739	usd
CY2022Q2	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	594175	usd
CY2021Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	521534	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	241557	usd
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	243205	usd
CY2022Q2	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	36584	usd
CY2021Q2	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	33561	usd
	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	72641	usd
CY2022Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	4313	usd
CY2021Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	4312	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	8626	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	8625	usd
CY2022Q2	us-gaap	Finite Lived Customer Relationships Gross FiniteLivedCustomerRelationshipsGross	129680	usd
CY2021Q4	us-gaap	Finite Lived Customer Relationships Gross FiniteLivedCustomerRelationshipsGross	129680	usd
CY2022Q2	us-gaap	Finite Lived Trademarks Gross FiniteLivedTrademarksGross	42840	usd
CY2021Q4	us-gaap	Finite Lived Trademarks Gross FiniteLivedTrademarksGross	42840	usd
CY2022Q2	us-gaap	Accumulated Amortization Of Other Deferred Costs AccumulatedAmortizationOfOtherDeferredCosts	67571	usd
CY2021Q1	us-gaap	Proceeds From Loans ProceedsFromLoans	98622	usd
CY2021Q1	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	98622	usd
	vyey	Accrued Interest Percentage AccruedInterestPercentage	0.01	pure
CY2022Q2	us-gaap	Long Term Debt Term LongTermDebtTerm	P5Y
CY2022Q2	us-gaap	Interest Expense Debt InterestExpenseDebt	1671	usd
CY2021Q2	us-gaap	Interest Expense Debt InterestExpenseDebt	1579	usd
	us-gaap	Interest Expense Debt InterestExpenseDebt	3324	usd
	us-gaap	Interest Expense Debt InterestExpenseDebt	3250	usd
CY2022Q2	vyey	Security Agreement Amount SecurityAgreementAmount	31437	usd
CY2022Q2	vyey	Loan Term LoanTerm	P5Y
CY2022Q2	us-gaap	Debt Instrument Maturity Date DebtInstrumentMaturityDate	2027-06-15
CY2022Q2	vyey	Repyabale Rate RepyabaleRate	586	usd
CY2022Q2	vyey	Principal And Interest Rate Percentage PrincipalAndInterestRatePercentage	0.045	pure
	vyey	Vehicle Loan VehicleLoan	31437	usd
	vyey	Vehicle Loan VehicleLoan	0	usd
	us-gaap	Revenues Revenues	362267	usd
	vyey	Potentially Dilutive Share PotentiallyDilutiveShare	8903000	shares
	vyey	Potentially Dilutive Share PotentiallyDilutiveShare	0	shares
	vyey	Basic And Diluted Weighted Average Number Of Common Shares Outstanding BasicAndDilutedWeightedAverageNumberOfCommonSharesOutstanding	28037713	shares
	vyey	Basic And Diluted Weighted Average Number Of Common Shares Outstanding BasicAndDilutedWeightedAverageNumberOfCommonSharesOutstanding	28037713	shares
CY2022Q2	vyey	Lease And Rental Expenses LeaseAndRentalExpenses	3000	usd
CY2021Q2	vyey	Lease And Rental Expenses LeaseAndRentalExpenses	0	usd
	vyey	Lease And Rental Expenses LeaseAndRentalExpenses	3000	usd
	vyey	Lease And Rental Expenses LeaseAndRentalExpenses	3000	usd
CY2018Q2	us-gaap	Shares Issued SharesIssued	1880267	shares
CY2020Q4	vyey	Increase The Loan Amount IncreaseTheLoanAmount	3000000	usd
CY2021Q1	vyey	Sale Of Stock Consideration Receivable On Transaction SaleOfStockConsiderationReceivableOnTransaction	3500000	usd
CY2021Q3	vyey	Increase The Loan Amount IncreaseTheLoanAmount	4000000	usd
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	pure
	vyey	Number Of Geographical Area NumberOfGeographicalArea	1	pure
CY2022Q2	us-gaap	Revenues Revenues	557793	usd
CY2021Q2	us-gaap	Revenues Revenues	205895	usd
	us-gaap	Revenues Revenues	890911	usd
CY2021Q2	us-gaap	Pro Forma Weighted Average Shares Outstanding Diluted ProFormaWeightedAverageSharesOutstandingDiluted	28037713	shares
CY2022Q2	us-gaap	Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	6977	usd
CY2021Q2	us-gaap	Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	-189251	usd
	us-gaap	Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	-74281	usd
	us-gaap	Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	-333905	usd
CY2022Q2	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	28037713	shares
CY2021Q2	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	28037713	shares
	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	28037713	shares
	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	28037713	shares
CY2022Q2	vyey	Short Term Convertible Notes Payable ShortTermConvertibleNotesPayable	4941968	shares
CY2022Q2	vyey	Preferred Series D Stock PreferredSeriesDStock	3961540	shares
CY2022Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	36941221	shares
CY2021Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	28037713	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	28037713	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	28037713	shares
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.01
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0
CY2021Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
CY2021Q2	vyey	Short Term Convertible Notes Payable ShortTermConvertibleNotesPayable		shares
	vyey	Short Term Convertible Notes Payable ShortTermConvertibleNotesPayable		shares
	vyey	Short Term Convertible Notes Payable ShortTermConvertibleNotesPayable		shares
CY2021Q2	vyey	Preferred Series D Stock PreferredSeriesDStock		shares
	vyey	Preferred Series D Stock PreferredSeriesDStock		shares
	vyey	Preferred Series D Stock PreferredSeriesDStock		shares
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Entity Central Index Key EntityCentralIndexKey	0000700764

Files In Submission

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0001213900-22-047665-index-headers.html	Edgar Link	pending
0001213900-22-047665-index.html	Edgar Link	pending
0001213900-22-047665.txt	Edgar Link	pending
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ex10-1_004.jpg	Edgar Link	pending
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ex10-1_006.jpg	Edgar Link	pending
f10q0622ex10-1_victoryoil.htm	Edgar Link	pending
f10q0622ex31-1_victoryoil.htm	Edgar Link	pending
f10q0622ex32-1_victoryoil.htm	Edgar Link	pending
f10q0622_victoryoil.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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f10q0622_victoryoil_htm.xml	Edgar Link	completed
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vyey-20220630_def.xml	Edgar Link	unprocessable
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vyey-20220630_cal.xml	Edgar Link	unprocessable

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2022 Q3 Form 10-Q Financial Statement

#000121390022047665 Filed on August 15, 2022

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$VYEY Victory Clean Energy Inc Stock $vyey

2022 Q3 Form 10-Q Financial Statement

#000121390022047665 Filed on August 15, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VYEY
Victory Clean Energy Inc Stock $vyey