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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 11,123 $ 18,713
Prepaid expenses and other current assets 1,122 1,591
Deposits 110 110
Inventory 28,657 24,576
Total current assets 52,838 49,290
LONG-TERM ASSETS    
Total property and equipment, net 54,316 54,958
Operating lease right-of-use assets, net 100 158
Restricted cash, noncurrent 1,000 5
Surety bonds 230 230
Deferred tax assets, net 0 1,436
Total long-term assets 55,646 56,787
TOTAL ASSETS 108,484 106,077
CURRENT LIABILITIES    
Current portion of lease liabilities 93 147
Income taxes payable 1,247 951
Asset retirement obligations, current portion 2,999 4,504
Accrued expenses and other current liabilities 4,079 5,084
Total current liabilities 52,535 55,425
LONG-TERM LIABILITIES    
Deferred tax liabilities, net 109 0
Total long-term liabilities 7,726 9,053
TOTAL LIABILITIES 60,261 64,478
Commitments and contingencies (Note 15)
STOCKHOLDERS' EQUITY    
Common stock ($0.01 par value, 20,000,000 shares authorized; 14,921,968 shares issued at March 31, 2024 and December 31, 2023) (1) [1] 149 149
Additional paid-in capital 39,758 39,758
Retained earnings 8,316 1,692
TOTAL STOCKHOLDERS' EQUITY 48,223 41,599
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 108,484 106,077
Nonrelated Party [Member]    
CURRENT ASSETS    
Accounts receivable 104 116
CURRENT LIABILITIES    
Long-term debt less unamortized debt issue costs, current portion (in default) 40,581 39,440
Interest payable 1,182 2,596
Accounts payable 2,349 1,814
LONG-TERM LIABILITIES    
Long-term debt, net of current portion 2,309 3,745
Long-term Interest Payable, Net of Current Portion 0 0
Related Party [Member]    
CURRENT ASSETS    
Accounts receivable 11,722 4,184
CURRENT LIABILITIES    
Long-term debt less unamortized debt issue costs, current portion (in default) (0) (0)
Accounts payable 5 889
LONG-TERM LIABILITIES    
Long-term debt, net of current portion 4,000 4,000
Long-term Interest Payable, Net of Current Portion $ 1,308 $ 1,308
[1] Blue Dolphin has 2,500,000 shares of preferred stock, par value $0.10 per share, authorized. At March 31, 2024 and December 31, 2023, there were no shares of preferred stock issued and outstanding.