Royale Energy, Inc.
For the period ended Dec 31, 2024. Filed Apr 9, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 9, 2025
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Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
| 2024 · 2023 | ||||
|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
| Net Loss | $(2,159,016) | $(1,832,187) | ||
| Adjustments to Reconcile Net Loss to Net Cash Used by Operating Activities: | ||||
| Depreciation, Depletion, and Amortization | 308,523 | 346,866 | ||
| Impairment | 400,719 | 1,599,001 | ||
| Gain on Sale of Assets | (17,500) | - | ||
| (Gain) Loss on Turnkey Drilling Programs | (1,607,677) | (2,107,500) | ||
| Credit Loss Expense | 450,743 | - | ||
| Other Gain | - | (112,728) | ||
| Well Equipment Write Down | - | 22,690 | ||
| Stock-Based Compensation | 35,999 | 180,001 | ||
| Accretion of Debt Restructure Note Payable Interest | 31,514 | - | ||
| Right of Use Asset Depreciation | 7,167 | 11,006 | ||
| (Increase) Decrease in: | ||||
| Other & Revenue Receivables | (169,046) | (269,209) | ||
| Prepaid Expenses and Other Assets | (44,244) | 1,491,740 | ||
| Increase (Decrease) in: | ||||
| Accounts Payable and Accrued Expenses | 552,911 | (99,599) | ||
| Royalties Payable | (1,092) | - | ||
| Net Cash Used in Operating Activities | (2,210,999) | (769,919) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
| Expenditures for Oil and Gas Properties | (5,066,527) | (5,450,709) | ||
| Proceeds from Turnkey Drilling Programs | 8,258,791 | 7,860,000 | ||
| Net Cash Provided by Investing Activities | 3,192,264 | 2,409,291 | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
| Proceeds from Long-Term Debt | 1,400,000 | - | ||
| Principal Payments on Long-Term Debt | (6,623) | (11,985) | ||
| Net Cash Provided by (Used in) Financing Activities | 1,393,377 | (11,985) | ||
| Net Increase in Cash, Cash Equivalents, and Restricted Cash | 2,374,642 | 1,627,387 | ||
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Year | 5,527,521 | 3,900,134 | ||
| Cash, Cash Equivalents, and Restricted Cash at End of Year | $7,902,163 | $5,527,521 | ||
| Cash Paid for Interest | $273,360 | $1,970 | ||
| Cash Paid for Taxes | $8,150 | $10,427 | ||
| Supplemental Schedule of Non-Cash Investing and Financing Transactions: | ||||
| Asset Retirement Obligation Addition | $ | - | $37,260 | |
| (Decrease) Increase in Capital Accrued Balance | $(68,380) | $165,572 | ||
| Series B Paid-In-Kind Dividends | $ | - | $844,700 | |
| Conversion of Preferred Stock to Common | $24,664,543 | $ | - | |
| Issuance of Notes Payable in Settlement of Liability | $2,057,777 | $ | - | |
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