Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information and Geographic Data

Business Segment Information and Geographic Data

9 Months Ended

Sep. 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 nine months ended September 30, 2022 is presented below.

	Nine Months Ended September 30, 2022
	Oil and Gas			Power Generation			Total

Income (Loss) from Operations is as follows:

Revenue	$	3,666,726		$	14,999,542		$	18,666,268

Operating expenses
Cost of goods		-			9,871,239			9,871,239
Lease operating costs		1,429,847			-			1,429,847
General and administrative		3,570,740			7,637,677			11,208,417
Stock based compensation		1,614,334			-			1,614,334
Accretion - ARO		107,869			-			107,869
Depreciation, depletion and amortization		1,022,643			304,018			1,326,661

Total operating expenses		7,745,433			17,812,934			25,558,367

Income (loss) from operations	$	(4,078,707	)	$	(2,813,392	)	$	(6,892,099	)

Assets

Segment assets	$	4,732,923		$	23,919,207		$	28,652,130
Corporate and unallocated assets								22,329,188

Total Consolidated Assets							$	50,981,318