CoJax Oil & Gas Corp
For the period ended Jun 30, 2026. Filed Aug 12, 2026.
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, 2026 · Filed Aug 12, 2026
CJAXStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-13.
0001753926-26-000848
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-12.
0001753926-26-001447
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 59 previous paragraphs and 64 current paragraphs.
44 unchanged; 9 reworded; 11 added; 6 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 31 previous and 31 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 (11)
Current report
Revenues were $329,386 for the three months ended June 30, 2026, compared to $233,624 for the corresponding period in 2025. The increase in revenues of 41.0% for the three months ended June 30, 2026, compared to the same period in 2025 was primarily attributable to higher realized oil prices. This increase was partially offset by the disposition of the NONOP assets in the fourth quarter of 2025, which resulted in lower revenues during the current-year period. Revenues attributable to the NONOP assets were $35,575 for the three months ended June 30, 2025.
Current report
For the six month period ended June 2026 revenues were $441,462 compared to revenues of $571,847 the corresponding period ended June 30, 2025, a decrease of approximately 22.8% compared to June 30, 2025, which was primarily driven by lower production volumes from the Pine Grove Assets due to well downtime during the first quarter of 2026, and workover on the Buckley Assets in the second quarter. In addition, revenues for the six months ended June 30, 2025 are inclusive of the NONOP assets which were disposed prior to Jan 1, 2026 contributing to the period-over-period decline in revenues. This decrease in period over period revenues was partially offset by higher oil prices in 2026.
Current report
Lease operating expenses were $67,168 for the three months ended June 30, 2026, a decrease of approximately 47% from $126,385 during the same period in 2025. The decrease was primarily due to historical lease operating expenses related to the NONOP assets which were not incurred during 2026 and increased downtime relating to well workover, repair and maintenance activities during 2026 resulting in lower operating expenses.
Current report
Lease operating expenses were $182,514 for the six months ended June 30, 2026, a decrease of approximately 18% from $233,625 during the same period in 2025. The decrease was primarily due to historical lease operating expenses related to the NONOP assets which were not incurred during 2026 and increased downtime relating to well workover, repair and maintenance activities during 2026 resulting in lower operating expenses.
Current report
For the six months ended June 30, 2026 general and administrative expenses were $350,327 compared to $478,583 in the same period in 2025, representing a decrease of approximately 26.8% or $128,256. The decrease was primarily driven by a $51,992.88 decrease in accounting fees.
Current report
Income (loss) from Operations
Current report
Total operating income was $3,042 for the three months ended June 30, 2026, compared to ($203,818) loss for the corresponding period in 2025, respectively, an increase of $206,860 that resulted from higher oil prices that benefitted the Company, and successful completion of workover activities that allowed the Company to produce and sell a higher than average number of barrels in the period. The costs associated with workover activities were capitalized due to their extension of the life of the Buckley Assets. In the 2025 comparative period the Company increased operating costs associated with the NONOP assets and experienced lower oil prices.
Current report
Total operating loss was $262,492 and $348,140 for the six months ended June 30, 2026 and 2025, respectively. The reduction in loss was primarily driven by lower lease operating expenses and general and administrative expenses incurred in the six months ended June 30, 2026 compared to same comparative period in the prior year, as described above. The reduction in loss was offset by the higher revenues in the six months ended June 30 th 2025.
Current report
Net income (loss)
Current report
For the six months ended June 30, 2026, the Company had net cash used in operating activities of $17,352, compared to $21,822 provided by operating activities for the same period of 2025. The change in cash flows from operating activities was driven by an increase in accounts receivables and prepaid expenses for the six months ended June 30, 2026 as compared to the prior year period.
Current report
The Company had cash flows used in investing activities of $1,800 for the six months ended June 30, 2026, and no investing cash flows for the six months ended June 30, 2025.
Removed paragraphs (6)
Previous report
Revenues were $112,076 for the three months ended March 31, 2026, compared to $338,222 for the three months ended March 31, 2025. The decrease in revenue of 66.9% or $226,146 was primarily driven by the decrease in production for the Buckley assets resulting in approximately $137,202 reduction in revenue period over period, as well as the decrease attributable to the transfer of the NONOP assets in the second half of 2025 that reduced revenue by approximately $38,612. Wells within the Pine Grove field were under repair during Q1 2026 resulting in a reduction in revenue compared to 2025 of $18,339.
Previous report
Lease operating expenses were $115,345 for the three months ended March 31, 2026, compared to $ 97,240 for the three months ended March 31, 2025, representing an increase of 18.6% or $18,105. The increase in expense was primarily attributable to the increased operating expenses related to repair and maintenance of wells in the Pine Grove and Buckley fields during 2026 of $22,222 and $21,835 respectively, offset by reduced operating expenses resulting from the transfer of NONOP assets of approximately $24,829.
Previous report
Loss from Operations
Previous report
Total operating loss was $265,510 for the three months ended March 31, 2026, and $144,323 for the three months ended March 31, 2025. The increased loss was primarily driven by the $226,146 decrease in revenues offset by the $104,959 net decrease in operating expenses.
Previous report
Net Loss
Previous report
The Company did not have any investing cash flows for the three months ended March 31, 2026 and March 31, 2025.
Reworded paragraphs (9)
Previous wording
Executive Summary - First Quarter 2026 Developments and Highlights
Current wording
Executive Summary – Second Quarter 2026 Developments and Highlights
Previous wording
Results of Operations – For the Three Months Ended March 31, 2026, and 2025
Current wording
Results of Operations – For the Three and Six Months Ended June 30, 2026, and 2025
Previous wording
General and administrative expenses consisted primarily of accounting and audit fees, legal and professional services fees, and payroll-related expenses. General and administrative expenses were $193,971 for the three months ended March 31, 2026, compared to $274,330 in the same period in 2025, representing a decrease of 29.3% or $80,359. The decrease was primarily driven by a $31,157 decrease in accounting fees, a $6,892 reduction in management fees, and a $38,606 decrease in reserve evaluations expenses.
Current wording
General and administrative expenses consisted primarily of accounting and audit fees, legal and professional services fees, and payroll-related expenses. For the three month periods ended June 2026 and 2025 general and administrative expenses were $156,332 and $204,253 respectively, representing a decrease of approximately 23.5% period over period.
Previous wording
Other expense, net was $450 for the three months ended March 31, 2026, as compared to $483 for the three months ended March 31, 2025, due to an increase in interest expense on the PPP Loan.
Current wording
Other expense, net was $428 and $853 for the three and six months ended June 30, 2026, as compared to $243 and $727 for the three and six months ended June 30, 2025, due to an increase in interest expense on the PPP Loan.
Previous wording
As a result of the above factors, for the three months ended March 31, 2026, the Company had a net loss of $265,959 as compared to a net loss of $144,806 for the three months ended March 31, 2025.
Current wording
As a result of the above factors, for the three months ended June 30, 2026, the Company had a net income of $2,614 compared to a net loss of $204,061 for the three months ended June 30, 2025 and a net loss of $263,345 for the six months ended June 30, 2026 compared to a net loss of 348,867 for the six months ended June 30, 2025.
Previous wording
The following table presents our sales volumes and received pricing information for the three-month periods ended March 31, 2026, and 2025:
Current wording
The following table presents our sales volumes and received pricing information for the three and six month periods ended June 30, 2026, and 2025:
Previous wording
The Company had cash on hand of $91,056 at March 31, 2026, compared to $ 77,219 at December 31, 2025. For the three months ended March 31, 2026, the Company had net cash provided by operating activities of $16,375, compared to $32,796 provided by operating activities for the same period of 2025. The decrease in cash provided by operating activities was driven by the $150,374 increase in accounts payable and accrued liabilities and $12,813 decrease in accounts receivable, offset by the $121,153 increase of net loss and $44,569 decrease in depletion expense.
Current wording
The Company had cash on hand of $52,984 at June 30, 2026, compared to $ 77,219 at December 31, 2025.
Previous wording
Net cash used in financing activities was $ 2,538 for the three months ended March 31, 2026, compared to net cash used in financing activities of $ 2,513 for the same period in 2025.
Current wording
Net cash used in financing activities was $5,083 for the six months ended June 30, 2026, compared to net cash used in financing activities of $5,031 for the same period in 2025.
Previous wording
The Company has yet to achieve profitable operations, expects to incur further losses in the development of its business, has only recently begun producing positive cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations, all of which raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has developed a capital investment proposal plan and is currently pursuing funding opportunities; however, there is no assurance of additional funding being available or on acceptable terms, if at all.
Current wording
The Company has yet to [achieve consecutive quarters of] profitable operations, expects to incur further losses in the development of its business, has only recently begun producing positive cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations, all of which raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has developed a capital investment proposal plan and is currently pursuing funding opportunities; however, there is no assurance of additional funding being available or on acceptable terms, if at all.