v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net loss $ (4,028,408) $ (1,628,852)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 882,395 424,840
Impairment on investment in related party 39,234 72,163
Stock based compensation 42,500 0
Changes in operating assets and liabilities:    
Accounts receivable (263,566) 237,645
Other receivables 198,589 (362,107)
Due from/to related parties 1,572,635 2,085,778
Prepaid expenses and other current assets 0 114,895
Accounts payable and accrued expenses 1,976,969 1,466,877
Deferred revenue 57,548 (250,896)
Net cash provided by operating activities 477,896 2,160,343
Cash flows from investing activities    
Acquisition of property and equipment (2,043,678) (1,131,411)
Proceeds from sale of property and equipment and engine reserves 0 1,600,000
Purchase of engine reserves (1,069,571) (755,730)
Net cash used in investing activities (3,113,249) (287,141)
Cash flows from financing activities    
Capital contributions 0 40,000
Payments on financing lease obligations (310,772) (119,029)
Proceeds from long-term debt 589,500 120,000
Repayments of long-term debt (334,056) (1,115,178)
Proceeds from long-term debt, related parties 2,565,644 120,000
Repayments of long-term debt, related parties (36,033) (668,437)
Net cash provided by (used in) financing activities 2,474,283 (1,622,644)
Net change in cash (161,070) 250,558
Cash at beginning of period 225,228 129,871
Cash at end of the period 64,158 380,429
Non-cash investing and financing activities    
Related party advances converted into note payable - related party 0 1,629,954
Related party notes converted into preferred stock 6,419,269 0
Purchase of property and equipment with a note payable 0 3,800,000
Notes receivable and advances 0 6,403,528
Increase of property and equipment 0 2,320,690
Increase in maintenance reserves 0 2,325,946
Assumed notes payable 0 1,050,259
Right of use assets - operating and financing leases 0 16,992,731
Right of use liabilities - operating and financing lease 0 15,078,977
Cash paid during the year for:    
Income taxes 0 0
Interest $ 948,543 $ 249,495