Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information and Geographic Data

Business Segment Information and Geographic Data

6 Months Ended

Jun. 30, 2022

Business Segment Information and Geographic Data

Business Segment Information and Geographic Data

Note 15 Business Segment Information and Geographic Data

With the acquisition of a controlling interest in Simson-Maxwell, Oil and Gas exploration and Power Generation now represent our two reportable segments. The power generation segment provides custom energy and power solutions to commercial and industrial clients in North America and the oil and gas segment is involved in exploration and production with properties in central and southern United States. We evaluate segment performance based on revenue and operating income (loss).

Information related to our reportable segments and our consolidated results for the six months ended June 30, 2022 is presented below.

	Six Months Ended June 30, 2022
	Oil and Gas			Power Generation			Total

Income (Loss) from Operations is as follows:

Revenue	$	3,548,872		$	8,956,690		$	12,505,562

Operating expenses
Cost of goods		-			5,053,599			5,053,599
Lease operating costs		1,186,168			-			1,186,168
General and administrative		3,365,565			5,115,197			8,480,762
Stock based compensation		588,870			-			588,870
Accretion - ARO		81,631			-			81,631
Depreciation, depletion and amortization		840,042			173,428			1,013,470

Total operating expenses		6,062,276			10,342,224			16,404,500

Income (loss) from operations	$	(2,513,404	)	$	(1,385,534	)	$	(3,898,938	)

Assets

Segment Assets	$	18,045,937		$	23,914,383		$	41,960,320
Corporate and unallocated assets								23,624,414

Total Consolidated Assets							$	65,584,734