| Balance Sheets | 2026-03-31 | 2025-12-31 | ||
|---|---|---|---|---|
| Cash and cash equivalents | 30,883 | 427,866 | ||
| Accounts receivable, net | 305,282 | 317,242 | ||
| Contract assets | 103,736 | - | ||
| Inventories | 329,978 | 329,978 | ||
| Prepaid expenses and other current assets | 447,039 | 383,439 | ||
| Total current assets | 1,216,918 | 1,458,525 | ||
| Oil and gas assets, on the basis of full cost accounting, net | 3,923,164 | 4,004,589 | ||
| Gross property, plant and equipment | - | 5,392,964 | ||
| Less accumulated depreciation | - | 662,459 | ||
| Property, plant and equipment, net | 4,672,024 | 4,730,505 | ||
| Project development costs and other non-current assets | 340,744 | 349,348 | ||
| Right of use assets, net | 218,934 | 309,013 | ||
| Intangible assets, net | 5,579,563 | 5,734,298 | ||
| Goodwill | 17,449,429 | 17,449,429 | ||
| Certificate of deposit | 2,000,000 | 2,000,000 | ||
| Total non-current assets | 34,183,858 | 34,577,182 | ||
| Total assets | 35,400,776 | 36,035,707 | ||
| Accounts payable and accrued expenses | 12,750,723 | 12,068,509 | ||
| Contract liabilities and deferred revenues | 945,964 | 924,076 | ||
| Lease liability, current maturities | 179,476 | 138,217 | ||
| Due to affiliates | 1,242,772 | 1,498,205 | ||
| Lines of credit | 2,001,667 | 2,001,667 | ||
| Derivative liabilities | 72,157 | 70,802 | ||
| Convertible notes payable | 1,125,000 | 1,035,581 | ||
| Current portion of long-term debt | 4,866,664 | 4,866,664 | ||
| Short-term notes payable, net | 1,464,612 | 3,204,175 | ||
| Total current liabilities | 24,649,035 | 25,807,896 | ||
| Long-term notes payable, net | 636,904 | 610,336 | ||
| Lease liability, net of current maturities | - | 179,649 | ||
| Right-of-use liability | 56,501 | - | ||
| Asset retirement obligations | 1,871,180 | 1,848,080 | ||
| Total long-term liabilities | 2,564,585 | - | ||
| Total liabilities | 27,213,620 | 28,445,961 | ||
| Preferred stock, value-Series APreferred Stock | 3,809,640 | 3,848,640 | ||
| Preferred stock, value-Series BPreferred Stock | 2,084 | 2,084 | ||
| Preferred stock, value-Series DPreferred Stock | - | 4,500 | ||
| Preferred stock, value-Series CPreferred Stock | 4,589 | - | ||
| Common stock, 0.01 par value, 75,000,000 shares authorized 1,000,352 issued and 1,000,347 outstanding as of march 31, 2026 and 646,796 issued and 646,791 outstanding as of december 31, 2025, respectively | 10,002 | 6,467 | ||
| Additional paid-in capital | 124,471,234 | 121,172,724 | ||
| Treasury stock, at cost, 5 shares as of march 31, 2026 and december 31, 2025 | 92,396 | 92,396 | ||
| Accumulated deficit | -120,017,997 | -117,352,273 | ||
| Total stockholders equity | 8,187,156 | 7,589,746 | ||
| Total liabilities and stockholders equity | 35,400,776 | 36,035,707 | ||
OLENOX INDUSTRIES INC. (OLOX)
OLENOX INDUSTRIES INC. (OLOX)