CoJax Oil & Gas Corp
For the period ended Jun 30, 2025. Filed Aug 13, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 13, 2025
CJAXStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-09.
0001753926-25-000769
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-13.
0001753926-25-001314
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 57 previous paragraphs and 58 current paragraphs.
45 unchanged; 10 reworded; 3 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 32 previous and 32 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
Revenues were $233,624 and $571,847 for the three and six months ended June 30, 2025, compared to $318,007 and $500,060 for the three six months ended June 30, 2024. The decrease in revenue of 26.5% for the three months ended June 30, 2025 compared to the same period in 2024 was primarily driven by a decrease in the average sale price for crude oil. The increase in revenue of 14.4% for the six months ended June 30, 2025 compared to the same period in 2024 was primarily driven by production in the Liberty and Pine Grove Assets during the first quarter of 2025, which were acquired in May 2024 and August 2024, respectively.
Current report
Total operating loss was $203,818 and $74,361 for the three months ended June 30, 2025 and 2024, respectively. The increased loss was driven by a decrease in revenues during the second quarter and an increase in lease operating expenses and general and administrative expenses. The change in general and administrative expenses corresponded to an increase in professional service fees.
Current report
Total operating loss was $348,140 and $377,770 for the six months ended June 30, 2025 and 2024, respectively. The decreased loss was primarily driven by revenues earned in the first quarter of 2025, lending to a net increase in revenue for the six-month period, and an increase in lease operating expenses. These increases were partially offset by a decrease of $46,109 in general and administrative expenses driven by a reduction in payroll expenses.
Removed paragraphs (2)
Previous report
Revenues were $338,222 for the three months ended March 31, 2025, compared to $182,052 for the three months ended March 31, 2024. The increase in revenue of 85.8% was primarily driven by an increase in production in the Buckley Asset and the Liberty Asset.
Previous report
Total operating loss was $144,323 for the three months ended March 31, 2025, and $303,408 for the three months ended March 31, 2024. The decreased loss was primarily driven by the $156,170 increase in revenues.
Reworded paragraphs (10)
Previous wording
Executive Summary - First Quarter 2025 Developments and Highlights
Current wording
Executive Summary - Second Quarter 2025 Developments and Highlights
Previous wording
Results of Operations – For the Three Months Ended March 31, 2025, and 2024
Current wording
Results of Operations – For the Three and Six Months Ended June 30, 2025, and 2024
Previous wording
Lease operating expenses were $97,240 for the three months ended March 31, 2025, compared to $47,341 for the three months ended March 31, 2024, representing an increase of 105.4% or $49,899. The increase in expense was primarily attributable to the Liberty and Pine Grove Assets, which were acquired in May 2024 and August 2024, respectively.
Current wording
Lease operating expenses were $126,385 and $223,625 for the three and six months ended June 30, 2025, compared to $116,142 and $163,483 for the three and six months ended June 30, 2024, representing an increase of 8.8% or $10,243 and 36.8% or $60,142, respectively. The increase in expense for both periods presented was primarily attributable to the Liberty and Pine Grove Assets.
Previous wording
Other expense, net was $483 for the three months ended March 31, 2025, as compared to $78 for the three months ended March 31, 2024, due to an increase in interest expense.
Current wording
Other expense, net was $243 and $727 for the three and six months ended June 30, 2025, as compared to $77 and $154 for the three and six months ended June 30, 2024, due to an increase in interest expense.
Previous wording
As a result of the above factors, for the three months ended March 31, 2025, the Company had a net loss of $144,806 as compared to a net loss of $303,486 for the three months ended March 31, 2024.
Current wording
As a result of the above factors, for the three and six months ended June 30, 2025, the Company had a net loss of $204,061 and $348,867 as compared to a net loss of $74,438 and $377,924 for the three and six months ended June 30, 2024.
Previous wording
The following table presents our sales volumes and received pricing information for the three-month periods ended March 31, 2025, and 2024:
Current wording
The following table presents our sales volumes and received pricing information for the three and six month periods ended June 30, 2025, and 2024:
Previous wording
The Company had cash on hand of $77,021 at March 31, 2025, compared to $46,738 at December 31, 2024. For the three months ended March 31, 2025, the Company had net cash provided by operating activities of $32,796, compared to $4,201 used in operating activities for the same period of 2024. The decrease in cash used in operating activities was driven by the $158,680 decrease of net loss, offset by the lack of common stock issuances for services and salaries this period.
Current wording
The Company had cash on hand of $63,529 at June 30, 2025 compared to $46,738 at December 31, 2024. For the six months ended June 30, 2025, the Company had net cash provided by operating activities of $21,822 compared to $45,974 provided by operating activities for the same period of 2024. The decrease in cash provided by operating activities was driven by the lack of common stock issuances for services and salaries during the period, partially offset by a $29,057 net loss decrease.
Previous wording
Net cash used in investing activities was $0 for the three months ended March 31, 2025, and March 31, 2024.
Current wording
Net cash used in investing activities was $0 for the six months ended June 30, 2025, and June 30, 2024.
Previous wording
Net cash used in financing activities was $2,513 for the three months ended March 31, 2025, compared to net cash used in financing activities of $2,484 for the same period in 2024.
Current wording
Net cash used in financing activities was $5,031 for the six months ended June 30, 2025, compared to net cash used in financing activities of $4,977 for the same period in 2024.
Previous wording
We depend to a large extent on the services of our officers. These individuals have extensive experience in the energy industry, as well as expertise in evaluating and analyzing producing oil and natural gas properties and drilling prospects, maximizing production from oil and natural gas properties, and developing and executing financing strategies. The loss of any of these individuals could have a material adverse effect on our operations and business prospects. Our success may be dependent on our ability to continue to hire, retain and utilize skilled executive and technical personnel.
Current wording
We depend to a large extent on the services of our officers. These individuals have extensive experience in the energy industry, as well as expertise in evaluating and analysing producing oil and natural gas properties and drilling prospects, maximizing production from oil and natural gas properties, and developing and executing financing strategies. The loss of any of these individuals could have a material adverse effect on our operations and business prospects. Our success may be dependent on our ability to continue to hire, retain and utilize skilled executive and technical personnel.