Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Revenue | ||||
Power generation units and parts | $ 6,742,182 | $ 3,278,966 | $ 14,502,388 | $ 6,913,093 |
Service and repairs | 3,155,064 | 2,763,886 | 9,199,965 | 8,086,449 |
Oil and gas sales | 233,824 | 117,854 | 705,230 | 3,666,726 |
Total revenue | 10,131,070 | 6,160,706 | 24,407,583 | 18,666,268 |
Operating expenses | ||||
Cost of goods sold | 6,653,715 | 4,817,640 | 16,256,686 | 9,871,239 |
Lease operating costs | 207,931 | 243,679 | 534,123 | 1,429,847 |
General and administrative | 3,557,486 | 2,727,655 | 10,064,707 | 11,208,417 |
Stock based compensation | 1,025,464 | 0 | 1,614,334 | |
Depreciation, depletion and amortization | 237,361 | 313,191 | 698,061 | 1,326,661 |
Accretion - Asset Retirement Obligation | 17,961 | 26,238 | 67,599 | 107,869 |
Total operating expenses | 10,674,454 | 9,153,867 | 27,621,176 | 25,558,367 |
Loss from operations | (543,384) | (2,993,161) | (3,213,593) | (6,892,099) |
Other income (expense) | ||||
Interest expense, net | (421,348) | (154,022) | (757,503) | (507,067) |
Amortization of debt discount | (608,002) | (2,400) | (873,776) | (97,296) |
Change in fair value of derivative liability | (5,986,536) | 0 | (5,803,791) | 0 |
Net loss on sale of oil and gas properties and fixed assets | 1,475,000 | (7,744,680) | 0 | (7,744,680) |
Loss on extinguishment of debt | (442,203) | 0 | (605,507) | 0 |
Goodwill impairment | (14,486,745) | 0 | (14,486,745) | 0 |
Other income | 124,130 | 33,576 | 468,487 | 545,431 |
Total other expense, net | (21,820,704) | (7,867,526) | (22,058,835) | (7,803,612) |
Net loss before income taxes | (22,364,088) | (10,860,687) | (25,272,428) | (14,695,711) |
Income tax benefit (expense) | 0 | 0 | 0 | 0 |
Net loss | (22,364,088) | (10,680,687) | (25,272,428) | (14,695,711) |
Net income (loss) attributable to non-controlling interest | 298,220 | (583,774) | (66,355) | (1,132,628) |
Net loss attributable to Camber Energy, Inc. | $ (22,662,308) | $ (10,276,913) | $ (25,206,073) | $ (13,563,083) |
Loss per share of common stock | ||||
Basic and Diluted | $ (0.28) | $ (0.23) | $ (0.43) | $ (0.30) |
Weighted average number of shares of common stock outstanding | ||||
Basic and Diluted | 81,321,320 | 44,852,609 | 58,140,435 | 44,575,342 |
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- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of proven and unproven oil and gas properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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