Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 2,613,747 $ 3,467,938
Accounts receivable, net 6,002,037 8,781,086
Inventory 5,950,858 5,490,435
Notes receivable 3,960,000 3,000,000
Prepaids and other current assets 1,360,840 1,065,966
Total current assets 19,887,482 21,805,426
Oil and gas properties, full cost method    
Proved developed producing oil and gas properties, net 6,453,355 6,609,198
Proved undeveloped and non-producing oil and gas properties, net 8,034,381 8,216,373
Total oil and gas properties, net 14,487,736 14,825,571
Fixed assets, net 1,438,628 1,487,012
Right of use assets, net 5,457,337 5,790,147
ESG Clean Energy license, net 4,809,709 4,885,825
Due from related parties 3,478,639 4,835,153
Other intangibles - Simson Maxwell, net 3,832,756 3,874,117
Other intangibles - Variable Interest Entities 15,433,340 0
Goodwill 252,290 252,290
Deposits and other assets 10,300 395,315
TOTAL ASSETS 69,088,217 58,150,856
Current liabilities:    
Accounts payable 4,765,544 8,325,469
Accrued expenses and other current liabilities 1,236,442 1,600,209
Customer deposits 435,585 23,015
Due to Camber Energy, Inc. 8,397,300 4,100,000
Undistributed revenues and royalties 3,113,008 1,332,282
Current portion of operating lease liability 1,351,087 1,324,722
Due to related parties 3,835,350 4,870,020
Current portion of notes payable - related parties 64,607 64,418
Bank indebtedness - credit facility 1,232,448 0
Current portion of long-term debt - net of discount 5,064,700 8,430,318
Total current liabilities 29,496,071 30,070,453
Notes payable - related parties - net of current portion 720,961 724,502
Long term debt - net of current portion and debt discount 2,583,902 2,741,190
Operating lease liability, net of current portion 4,121,885 4,474,832
Contingent obligations 1,435,757 0
Asset retirement obligation 2,146,716 2,111,650
TOTAL LIABILITIES 40,505,292 40,122,627
Commitments and contingencies 0 0
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value, 500,000,000 shares authorized, 114,780,965 and 111,030,965 shares issued and outstanding as of March 31, 2022, and December 31, 2021, respectively. 114,781 111,031
Additional paid-in capital 126,909,137 120,246,224
Accumulated other comprehensive income (loss) 22,196 (177,981)
Accumulated deficit (110,042,903) (106,760,344)
TOTAL STOCKHOLDERS' EQUITY OF THE COMPANY 17,003,244 13,418,958
Non-controlling interest 11,579,681 4,609,271
TOTAL STOCKHOLDERS' EQUITY 28,582,925 18,028,229
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 69,088,217 58,150,856
Series C Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred Stock Series C, $0.001 par value, 5,000,000 shares authorized, 28,092 shares issued and outstanding as of March 31, 2022 and December 31, 2021 28 28
Series E Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred Stock Series C, $0.001 par value, 5,000,000 shares authorized, 28,092 shares issued and outstanding as of March 31, 2022 and December 31, 2021 $ 5 $ 0