v3.25.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENT REPORTING INFORMATION

A reconciliation of net loss for the reportable segments to the applicable line items within the accompanying unaudited consolidated statements of operations is as follows. 

 

             
   Three Months Ended
September 30, 2025		 
   O&G   Renewables   Total 
Revenue  $225,678   $-   $225,678 
                
Segment expense:               
General and administrative expenses   

-

    3,456,958    

3,456,958

 
Research and development costs   -       
Operating lease expense and severance tax   

112,644

    -    

112,644

 
Adjusted segment operating loss/(income)   

(113,034

)    3,456,958    

3,343,924

 
                
Reconciliation of “Adjusted segment operating loss” to “Loss before income taxes”               
Depreciation and amortization   40,027    -    40,027 
Grant income   -    -    - 
Interest income      (10,907)   (10,907)
Changes in fair value of warrant liability   -    -    - 
Other expense   198,950    10,508    209,458 
Foreign currency adjustment   -    

(1,041

)   

(1,041

)
Interest expense   

    108,453    108,453 
Issuance of Commitment Shares for Convertible Note   

    

3,342,000

    

3,342,000

 
Loss before income taxes  $

125,943

   $

6,905,971

   $

7,031,913

 

 

 

          

 

 

 
   Nine Months Ended
September 30, 2025		 
   O&G   Renewables   Total 
Revenue  $225,678   $-   $225,678 
                
Segment expense:               
General and administrative expenses   -    5,419,727    5,419,727 
Research and development costs   -    724,406    724,406 
Operating lease expense and Severance Tax   

112,644

         112,644 
Adjusted segment operating loss/(income)   (113,034)   6,144,133    6,031,099 
                
Reconciliation of “Adjusted segment operating loss” to “Loss before income taxes”               
Depreciation and amortization   40,027    -    40,027 
Grant income   -    (737,811)   (737,811)
Interest income      

(10,907

)

   (10,907)
Changes in fair value of warrant liability   -    (45,965)   (45,965)
Other expense   198,950    10,508    209,458 
Foreign currency adjustment   -    15,768    15,768 
Interest expense       306,809    306,809 
Issuance of Commitment Shares for Convertible Note   

    

3,342,000

    

3,342,000

 
Loss before income taxes  $125,943   $9,024,535   $9,150,478 

 

             
   Three Months Ended
September 30, 2024		 
   O&G   Renewables   Total 
Revenue  $-   $-   $- 
                
Segment expense:               
General and administrative expenses   -    

436,817

    436,817 
Research and development costs   -    

111,311

    111,311 
Adjusted segment operating loss   -    

548,128

    548,128 
                
Reconciliation of “Adjusted segment operating loss” to “Profit before income taxes”               
Operating lease expense and Severance Tax   -    -    - 
Depreciation and amortization   -    -    - 
Grant income   -    (340,546)   (340,546)
Interest income   -    (50,000)   (50,000)
Changes in fair value of warrant liability   -    

6,204

   6,204
Other expense   -    -    - 
Foreign currency adjustment   -    

(107,624

)   (107,624)
Interest expense   -    100,822    100,822 
Loss/(Profit) before income taxes  $-   $156,984  $156,984

 

             
   Nine Months Ended
September 30, 2024		 
   O&G   Renewables   Total 
Revenue  $-   $-   $- 
Segment expense:               
General and administrative expenses   -    1,703,752    1,703,752 
Research and development costs   -    1,600,956    1,600,956 
Adjusted segment operating loss   -    

3,304,708

    3,304,708 
                
Reconciliation of “Adjusted segment operating loss” to “Loss before income taxes”               
Operating lease expense and Severance Tax   -    -    - 
Depreciation and amortization   -    -    - 
Grant income   -    (2,340,359)   (2,340,359)
 Interest income   -    (150,000)   (150,000)
Changes in fair value of warrant liability   -    

809,602

    809,602 
Other expense   -    -    - 
Foreign currency adjustment   -    

(51,146

)   (51,146)
Interest expense   -    300,274    300,274 
Loss before income taxes  $-   $1,873,079   $1,873,079 

 

 

                 
   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
   2025   2024   2025   2024 
Depreciation and amortization:                    
O&G  $40,027   $-   $40,027   $- 
Renewables   -    -    -    - 
Consolidated depreciation expense  $40,027   $-   $40,027   $- 

 

  

As of

September 30, 2025

  

As of

December 31, 2024

 
Assets:          
O&G  $1,123,270   $- 
Renewables   27,708,284    4,114,688 
Total assets of reportable segments  $28,831,554   $4,114,688