Royale Energy, Inc.
For the period ended Dec 31, 2024. Filed Apr 9, 2025.
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FY2024 · Filed Apr 9, 2025
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CONSOLIDATED BALANCE SHEETS
DECEMBER 31,
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and Cash Equivalents | $1,877,163 | $2,202,521 |
| Restricted Cash | 6,025,000 | 3,325,000 |
| Other Receivables, net | 868,429 | 1,036,401 |
| Revenue Receivables | 764,653 | 878,378 |
| Prepaid Expenses and Other Current Assets | 619,913 | 558,169 |
| Deferred Drilling Costs | - | 1,669,149 |
| Total Current Assets | 10,155,158 | 9,669,618 |
| Other Assets | 589,865 | 589,865 |
| Right of Use Asset - Operating Leases | 238,509 | 254,008 |
| Oil and Gas Properties (Successful Efforts Basis), Real Property and Equipment and Fixtures, net | 4,656,659 | 2,401,902 |
| Total Assets | $15,640,191 | $12,915,393 |
DECEMBER 31,
| 2024 | 2023 | |
|---|---|---|
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities: | ||
| Accounts Payable and Accrued Expenses | $6,966,605 | $5,482,074 |
| Royalties Payable | 611,833 | 612,925 |
| RMX Resources, LLC | 23,087 | 23,087 |
| Accrued Liabilities | - | 215,693 |
| Operating Leases - Current | 94,070 | 83,230 |
| Asset Retirement Obligation - Current | 1,012,500 | 675,000 |
| Deferred Drilling Obligations | 11,457,996 | 9,761,927 |
| Total Current Liabilities | 20,166,091 | 16,853,936 |
| Noncurrent Liabilities: | ||
| Asset Retirement Obligation | 4,066,095 | 4,151,847 |
| Notes Payable | 3,489,290 | - |
| Operating Leases - Non-current | 145,644 | 171,439 |
| Accrued Unpaid Guaranteed Payments | 90,000 | 1,616,205 |
| Accrued Liabilities - Non-current | 12,386 | 1,306,605 |
| Total Liabilities | 27,969,506 | 24,100,032 |
| Mezzanine Equity: | ||
| Convertible Preferred Stock, Series B, $10 par value, 3,000,000 Shares Authorized, 0 and 2,444,885 shares issued and outstanding at December 31, 2024 and 2023, respectively | - | 24,448,850 |
| Stockholders’ Deficit: | ||
| Common Stock, .001 Par Value, 280,000,000 Shares Authorized 96,600,302 and 70,564,188 shares issued and outstanding at December 31, 2024 and 2023, respectively | 96,600 | 70,564 |
| Additional Paid in Capital | 81,078,554 | 54,619,236 |
| Accumulated Deficit | (93,504,469) | (90,323,289) |
| Total Stockholder’s Deficit | (12,329,315) | (35,633,489) |
| Total Liabilities, Mezzanine Equity and Stockholders’ Deficit | $15,640,191 | $12,915,393 |
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