| Schedule of Anti-dilutive Securities Excluded from Earnings Per Share |
Schedule
of Anti-dilutive Securities Excluded from Earnings Per Share
| Potentially Dilutive Security | |
Quantity | | |
Stated Value Per Share | | |
Total Value or Stated Value | | |
Assumed Conversion Price | | |
Resulting Common Shares | |
| Merger Options,
restricted stock units, and performance stock units (1) | |
| 9,050,909 | | |
$ | — | | |
$ | — | | |
$ | — | | |
| 1,050,909 | |
| Common stock warrants | |
| 228,004,372 | | |
| — | | |
| — | | |
| — | | |
| 9,064,951 | |
| Series D Preferred Stock | |
| 14,457 | | |
| 1,000 | | |
| 14,456,680 | | |
| 5.00 | | |
| 2,891,336 | |
| Senior Convertible Note (2) | |
| — | | |
| — | | |
| 15,750,000 | | |
| 7.79 | | |
| 2,021,823 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
| - | | |
| - | | |
| - | | |
| - | | |
| 15,029,018 | |
| (1) |
Not
exercisable or vested as of September 30, 2024. Refer to Note 13 – Common Stock Options and Warrants for a discussion
of the Merger Options (defined herein) and Note 14 – Long–Term Incentive Compensation for a discussion of the
restricted stock units and performance stock units. |
| (2) |
Reflects
the conversion option of the $15.0
million Senior Convertible Note at 105%
principal amount, pursuant to the SEPA. Refer to Note 8 – Debt for a discussion of the Senior
Convertible Note and Note 12 – Common Stock for
a discussion of the SEPA. |
The
following table presents the potentially dilutive securities which were not included in the computation of diluted earnings (loss) attributable
to common stockholders for the three and nine months ended September 30, 2023 because their inclusion would be anti–dilutive:
| Potentially Dilutive Security | |
Quantity | | |
Stated Value Per Share | | |
Total Value or Stated Value | | |
Assumed Conversion Price | | |
Resulting Common Shares | |
| Common stock options and restricted stock units (1) | |
| 8,641,176 | | |
$ | — | | |
$ | — | | |
$ | — | | |
| 641,176 | |
| Common stock warrants | |
| 447,855,367 | | |
| — | | |
| — | | |
| — | | |
| 15,674,938 | |
| AR Debentures | |
| — | | |
| — | | |
| 2,000,000 | | |
| 5.00 | | |
| 400,000 | |
| Series D Preferred Stock | |
| 21,799 | | |
| 1,000 | | |
| 21,799,000 | | |
| 5.00 | | |
| 4,359,850 | |
| Series E Preferred Stock | |
| 20,000 | | |
| 1,000 | | |
| 20,000,000 | | |
| 5.00 | | |
| 4,000,000 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total | |
| - | | |
| - | | |
| - | | |
| - | | |
| 25,075,964 | |
| (1) |
Not
exercisable or vested as of September 30, 2023. Refer to Note 13 – Common Stock Options and Warrants for a discussion
of the Merger Options and Note 14 – Long–Term Incentive Compensation for a discussion of the restricted stock
units. |
|
| Schedule of Non-cash Investing And Financing Activities And Supplemental Cash Flow Disclosures |
The
following table presents non–cash investing and financing activities and supplemental cash flow disclosures relating to the cash
paid for interest and income taxes for the periods presented:
Schedule
of Non-cash Investing And Financing Activities And Supplemental Cash Flow Disclosures
| | |
| | |
| |
| | |
Nine Months Ended September 30, | |
| | |
2024 | | |
2023 | |
| Non–cash investing and financing activities: | |
| | | |
| | |
| Common Stock issued upon conversion of Series D Preferred Stock | |
$ | 6,170,450 | | |
$ | — | |
| Common Stock issued upon conversion of Series E Preferred Stock | |
$ | 20,000,000 | | |
$ | — | |
| Capital expenditures included in accrued liabilities | |
$ | (4,717,644 | ) | |
$ | — | |
| Proceeds from Senior Convertible Note issuance not yet received, net of original issuance discount (1) | |
$ | 14,250,000 | | |
$ | — | |
| Proceeds from Subordinated Note issuance not yet received – related party(1) | |
$ | 2,000,000 | | |
$ | — | |
| Common Stock issued for SEPA commitment fee (2) | |
$ | 600,000 | | |
$ | — | |
| Cryptocurrency mining equipment and deposits acquired in the Merger | |
$ | — | | |
$ | 20,760,560 | |
| Secured convertible debentures assumed in the Merger | |
$ | — | | |
$ | 1,981,000 | |
| SBA loan payable acquired assumed in the Merger | |
$ | — | | |
$ | 150,000 | |
| Membership interests converted into shares of Common Stock | |
$ | — | | |
$ | (606,705 | ) |
| Common Stock issued at Merger | |
$ | — | | |
$ | 9,928,262 | |
| Series D Preferred Stock issued at Merger | |
$ | — | | |
$ | 3,209,196 | |
| Common Stock and warrants issued in Exok option acquisition | |
$ | — | | |
$ | 7,289,492 | |
| Common Stock issued in satisfaction of share issuance obligation | |
$ | — | | |
$ | 2,006,741 | |
| Deferred transaction costs capitalized to oil and natural gas properties | |
$ | — | | |
$ | 189,031 | |
| Deferred transaction costs associated with financing | |
$ | — | | |
$ | 519,533 | |
| Supplemental disclosure: | |
| | | |
| | |
| Cash paid for income taxes | |
$ | — | | |
$ | — | |
| Cash paid for interest | |
$ | — | | |
$ | 57,101 | |
| (1) |
Proceeds
from the issuance of the Senior Convertible Note and the Subordinated Note were not received until
October 1, 2024. Therefore, the Company recorded the unreceived proceeds as Financing receivable as of September 30, 2024. Refer to Note
8 – Debt for a discussion of the Senior Convertible Note and the Subordinated Note. |
| (2) |
Pursuant to the SEPA, the Company issued 100,000 shares to Yorkville as a commitment fee.
Refer to Note 12 – Common Stock for a discussion of the SEPA. |
|