v3.25.1

Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash	$ 46,738	$ 75,908
Accounts receivable	147,082	205,306
Prepaid expenses	21,210
Total current assets	215,030	281,214
Property and Equipment:
Oil and gas properties at cost	11,065,307	4,509,679
Less: Accumulated depletion	(766,901)	(420,176)
Total property and equipment - net	10,298,406	4,089,503
Total assets	10,513,436	4,370,717
Current liabilities:
Accounts payable	113,473	121,764
Workover expense payable	40,334	106,861
Accrued salaries and payroll taxes	1,059,281	834,809
Current portion of notes payable	10,088	9,984
Notes payable – related party	103,001	103,001
Total current liabilities	1,326,177	1,176,419
Long-term liabilities:
Asset retirement obligations	553,538	105,118
Notes payable, net of current portion	11,007	21,094
Total long-term liabilities	564,545	126,212
Total liabilities	1,890,722	1,302,631
Stockholders’ equity:
Preferred stock, $0.10 par value, 50,000,000 current shares authorized, 0 and 105,000 Series A shares, $0.01 par value issued and outstanding at December 31, 2024 and 2023, respectively.		1,050
Common stock, $0.01 par value, 300,000,000 current shares authorized, 13,998,639 and 9,315,902 shares issued and outstanding at December 31, 2024 and 2023, respectively.	139,986	93,159
Subscription payable	10,000	10,000
Additional paid-in capital	20,846,615	13,727,918
Accumulated deficit	(12,373,887)	(10,764,041)
Total stockholders’ equity	8,622,714	3,068,086
Total liabilities and stockholders’ equity	$ 10,513,436	$ 4,370,717

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CoJax Oil & Gas Corp 10-K