OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-32508 Camber Energy, Inc. ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...

Market Overview - Pre-market indexes are showing positive movement, with the small-cap Russell 2000 up more than +1% [1] - The Dow is up +114 points, S&P 500 +14 points, Nasdaq +62 points, and Russell +25 points, with only S&P 500 and Nasdaq showing year-to-date gains [2] Economic Indicators - The Philly Fed manufacturing index for June is at -4.0, marking the third consecutive month of decline, with lower readings in business conditions, capital expenditures, new orders, and prices paid [3] - The Employment Index has dropped to -9.8, indicating a potential softening labor market in the U.S. [3][4] Future Expectations - The decline in the Employment Index may create an opportunity for the Federal Reserve to consider lowering interest rates, contingent on further negative employment data [4] - Upcoming U.S. Leading Economic Indicators (LEI) report for May is expected to show a marginally negative headline of -0.1%, down from -1.0% in April [6] - The Coincident Economic Index (CEI) has recovered from Covid-era lows, indicating current economic conditions are improving [7] Upcoming Data Releases - A significant week ahead for the stock market with various economic data releases including housing market statistics, Services and Manufacturing PMI, Durable Goods, Jobless Claims, and Personal Consumption Expenditures (PCE) [8]

Market Overview - Pre-market indexes are showing a slight increase, with the small-cap Russell 2000 up more than +1% [1] - The Dow is up +114 points, S&P 500 +14 points, Nasdaq +62 points, and Russell +25 points, with only S&P 500 and Nasdaq showing year-to-date gains [2] Economic Indicators - The Philly Fed manufacturing index for June is at -4.0, marking the third consecutive month of decline, with lower readings in business conditions, capital expenditures, new orders, and prices paid [3] - The Employment Index has dropped to -9.8, indicating a potential softening labor market in the U.S. [3][4] Federal Reserve Outlook - The decline in the Employment Index may create an opportunity for the Federal Reserve to consider lowering interest rates, although worse employment numbers would need to be observed first [4] Upcoming Economic Data - The U.S. Leading Economic Indicators (LEI) report for May is expected to show a marginally negative headline of -0.1%, improving from -1.0% in April [6] - The Coincident Economic Index (CEI) has recovered from Covid-era lows, indicating current economic conditions are improving [7] Future Market Expectations - A significant week for economic data is anticipated, including reports on the housing market, Services and Manufacturing PMI, Durable Goods, Jobless Claims, and Personal Consumption Expenditures (PCE), which are crucial for future Fed monetary policy decisions [8]

Acquisitions and Investments - The company acquired approximately 60.5% of Simson-Maxwell for $7,958,159, enhancing its custom energy solutions capabilities[194] - The company holds a 51% interest in Viking Ozone, which has developed a patented medical waste treatment system using ozone technology[198] - The company has acquired a 51% interest in Viking Sentinel and Viking Protection, focusing on electric transmission line protection technologies[199] - Camber Energy completed a merger with Viking Energy Group, with Viking becoming a wholly-owned subsidiary of Camber[202] - Approximately 49,290,152 shares of Camber Common Stock were issued, representing about 59.99% of the outstanding shares post-merger[209] Financial Performance - The company reported gross revenues of $6,229,335 for the three months ended March 31, 2025, a decrease of 7% from $6,690,880 in the same period of 2024[220] - Operating expenses decreased by $939,334 to $8,010,107 for the three months ended March 31, 2025, compared to $8,949,441 in the prior year[222] - The net loss for the three months ended March 31, 2025, was $(3,191,653), significantly improved from a net loss of $(26,618,215) in the same period of 2024[225] - The company had a working capital deficit of $(19,821,650) as of March 31, 2025, compared to $(14,512,332) in the prior year[216] - Net cash provided by operating activities was $241,960 for the three months ended March 31, 2025, compared to $(1,185,014) in the same period of 2024[217] - The company had long-term debt of $41,276,474 and a stockholders' deficit of $(40,927,038) as of March 31, 2025[213] Legal Matters - The Company is involved in a legal proceeding regarding a merger-related class action complaint, which was dismissed with prejudice on March 31, 2025[250] - The Company is facing a lawsuit from Maranatha Oil Co. seeking approximately $100,000 for alleged unpaid royalties and other claims[251] - The Company has not reported any pending or threatened lawsuits that could materially affect its operations, aside from the mentioned litigation[249] Internal Controls and Governance - The Company has identified material weaknesses in its internal control over financial reporting and is addressing these by hiring additional staff and seeking expert assistance[246] - As of March 31, 2025, the Company does not maintain effective disclosure controls and procedures, as concluded by the Chief Executive Officer[245] - The Company is committed to ongoing evaluation and enhancement of its internal controls as funds allow[246] Energy and Sustainability Initiatives - The ESG Clean Energy System aims to capture approximately 100% of CO2 emissions from internal combustion engines, facilitating the production of certain commodities[196] - The company is exploring other energy-related opportunities that are currently generating revenue or have a reasonable prospect of doing so[192] - The company has entered into multiple patent agreements related to clean energy and carbon capture technologies, with several patents issued and pending[195] - The company intends to utilize the ESG Clean Energy System through existing distribution channels and for its own operations[197] - The company has a focus on sustainable alternatives for medical waste disposal, positioning itself in the renewable energy sector[198] - The company is committed to enhancing public safety through its broken conductor protection systems, which are integral to grid stability initiatives[199] Financial Instruments - The Series C Preferred Stock has a fixed conversion rate of $162.50, with a Conversion Premium that may be paid in cash or shares[238] - The fair value of the derivative liability related to the Conversion Premium is equal to the cash required to settle it[241] - The Company has determined that the Series C Preferred Stock contains an embedded derivative liability related to the Conversion Premium[240] - The Measurement Period for the Series C Preferred Stock conversion is typically 30 trading days, extendable under certain conditions[238] Future Outlook - Management believes the company may continue to develop new opportunities and obtain additional funding, although there is no assurance of funding availability[214]

Acquisition and Mergers - Camber Energy acquired approximately 60.5% of Simson-Maxwell for $7,958,159, enhancing its custom energy solutions capabilities[21]. - The merger with Viking Energy Group, Inc. was completed on August 1, 2023, with Viking becoming a wholly-owned subsidiary of Camber, resulting in the issuance of approximately 49,290,152 shares of Camber Common Stock[41]. - The Company completed a merger with Viking Energy Group, Inc. on August 1, 2023, with Viking becoming a wholly-owned subsidiary of the company[325]. - Approximately 49,290,152 shares of Camber Common Stock were issued in connection with the merger, representing about 59.99% of the outstanding shares post-merger[332]. - The acquisition of a 51% interest in Viking Ozone was recorded at a total consideration of $2,495,868, with an intangible asset value of $4,916,057[418]. - Viking acquired a 51% ownership interest in Viking Sentinel for a total consideration of $233,334, issuing 416,667 shares of common stock to Virga[420]. - The acquisition strategy reflects Viking's focus on expanding its portfolio through strategic partnerships and technology integration[420]. Financial Performance - Total revenue for the year ended December 31, 2024, was $28.61 million, a decrease of 10.5% from $32.05 million in 2023[311]. - The net loss attributable to Camber Energy, Inc. for 2024 was $68.14 million, compared to a net loss of $18.16 million in 2023, representing a significant increase in losses[312]. - The company reported a loss per common share of $0.35 for 2024, compared to a loss per share of $0.25 in 2023, indicating a worsening financial position[312]. - The net loss for the year ended December 31, 2024, was $70,259,894, compared to a net loss of $18,535,067 for 2023, representing an increase of approximately 278%[314]. - The total comprehensive loss for 2024 was $70,145,996, compared to $18,358,204 in 2023, indicating a significant rise in losses year-over-year[314]. - The loss attributable to non-controlling interest increased to $2,117,901 in 2024 from $371,847 in 2023, marking a growth of approximately 469%[314]. - The accumulated deficit for Camber Energy, Inc. reached $208,492,886 as of December 31, 2024, compared to $140,350,893 in 2023, representing an increase of approximately 48%[320]. - The total stockholders' deficit at the end of 2024 was $258,136,858, compared to $136,863,364 at the end of 2023, indicating a significant increase of approximately 88%[320]. Revenue Breakdown - For the year ended December 31, 2024, Simson-Maxwell's revenue from power generation units was $11,990,463, a decrease of 11.1% from $13,488,525 in 2023[377]. - Parts revenue for Simson-Maxwell was $3,733,320 in 2024, down 27.5% from $5,143,068 in 2023[377]. - Total revenue from units and parts for Simson-Maxwell was $15,723,783 in 2024, a decline of 15.4% compared to $18,631,593 in 2023[377]. - Service and repairs revenue increased to $12,787,756 in 2024, up 3.3% from $12,380,706 in 2023[377]. - The total revenue for the Company in 2024 was $28,511,539, a decrease of 8.1% from $31,012,299 in 2023[377]. Assets and Liabilities - Current assets decreased to $13.68 million in 2024 from $19.65 million in 2023, primarily due to reductions in cash and accounts receivable[309]. - Total liabilities increased to $80.14 million in 2024 from $77.41 million in 2023, with current liabilities remaining relatively stable at approximately $31.34 million[309]. - Cash reserves significantly declined from $906,060 in 2023 to $114,648 in 2024, reflecting liquidity challenges[309]. - As of December 31, 2024, the Company had a stockholders' deficit of $37,819,657 and long-term debt of $40,483,795, alongside a working capital deficiency of $17,655,810[347]. Impairments and Adjustments - Goodwill and intangible assets were recorded at $0 and $19.4 million, respectively, as of December 31, 2024, with impairment charges of $34.86 million for goodwill and $2.25 million for intangible assets recognized during the year[301]. - The Company recorded a goodwill impairment charge of $34,860,411 for the year ended December 31, 2024, due to a significant decline in the market price of its common stock[406]. - The Company recognized an impairment charge of $698,011 related to Customer Relationships and $1,550,929 related to the Brand for the year ended December 31, 2024[416]. Operational Strategies and Future Outlook - The company is exploring energy-related opportunities that are currently generating revenue or have a reasonable prospect of doing so[20]. - The company plans to utilize the ESG Clean Energy System through existing distribution channels and for its own operations[26]. - The company is focused on integrating and realizing benefits from future acquisitions, which may impact its financial position[17]. - The company has indicated ongoing concerns regarding its ability to continue as a going concern due to recurring losses and net capital deficiency[295]. - The Company has raised substantial doubt regarding its ability to continue as a going concern, dependent on generating future profitable operations and obtaining necessary financing[348]. Clean Energy Initiatives - The ESG Clean Energy System aims to capture approximately 100% of CO2 emissions from internal combustion engines while maintaining efficiency[25]. - Camber Energy's clean energy and carbon-capture system has exclusivity in Canada and multiple locations in the United States[20]. - The company has multiple patents related to its clean energy technologies, with several pending applications[22][23][25]. - The company intends to utilize the ESG Clean Energy System for its own operations and to sell or lease it to third parties[338]. - The ESG Clean Energy License intangible asset had a carrying value of $3,958,897 as of December 31, 2024, after recognizing amortization expense of $309,540 for the year[414]. - The Company is obligated to make minimum continuing royalty payments to ESG, starting at $500,000 for the second year after the Trigger Date, potentially increasing to $3,250,000 in subsequent years[412].

Core Points - Coelacanth Energy Inc. has approved the granting of stock options and restricted share units to its directors, officers, employees, and consultants [1][2] - The total number of stock options granted is 3,877,378, and the total number of restricted share units granted is 2,657,622 [1] - The stock options are exercisable for five years at a price of $0.81 per common share, with a vesting schedule of 33⅓% after one year and the remainder vesting annually [2] - The restricted share units are exercisable for three years at no additional cost, with a similar vesting schedule [2] - After the grants, Coelacanth has a total of 22,697,637 options and 8,460,065 RSUs outstanding, which represents approximately 5.86% of the issued and outstanding common shares [3]

Core Viewpoint - Coelacanth Energy Inc. has successfully completed and tested four additional wells at its Two Rivers East Project, demonstrating significant production rates and potential for future development in the Montney formation [1][7]. Lower Montney - Three new Lower Montney wells (F5-19, G5-19, H5-19) were drilled with an average horizontal length of 3,285 meters and completed with approximately 2.5 tons of sand per horizontal meter [2]. - The average production rate for these wells was 1,624 barrels of oil equivalent per day (boepd) per well, consisting of 989 barrels per day (bbls/d) of light sweet oil and 3.8 million cubic feet per day (mmcf/d) of liquids-rich gas [3]. - The production rates from the new wells were significantly higher than the previous three wells on the pad, which had an average test rate of 1,338 boepd, including 729 bbls/d of light oil [3]. Upper Montney - The Upper Montney well (B5-19) was drilled with a horizontal length of 2,647 meters and achieved a production rate of 1,136 boepd, comprised of 271 bbls/d of light oil and 5.2 mmcf/d of liquids-rich gas [4]. - The B5-19 well was shorter in horizontal length and had fewer frac stages compared to the Lower Montney wells, indicating potential for future optimization [4][5]. Infrastructure & Takeaway - Coelacanth has secured long-term takeaway and processing capacity for up to 60 mmcf/d of gas and is constructing the necessary facilities and pipelines for the 5-19 and subsequent pads, with initial testing expected to start in late April 2025 [6]. Overall Development - The results from the recent wells are seen as a significant advancement in the development of Coelacanth's Upper Montney and Lower Montney resources, expanding the productive area and enhancing overall productivity [7].

Revenue and Financial Performance - Total revenue for the nine months ended September 30, 2024, was $25.41 million, compared to $24.41 million for the same period in 2023[4] - Revenue for the nine months ended September 30, 2024, increased by 4% to $25.4 million compared to $24.4 million in 2023, driven by higher power segment revenues[120] - Revenue for the three months ended September 30, 2024, decreased by 29% to $7.2 million compared to $10.1 million in 2023, primarily due to an unusually large sale in the prior year[119] - Revenue from power generation units and parts for the nine months ended September 30, 2024, was $15,998,386, compared to $14,502,388 for the same period in 2023[4] - Revenue from service and repairs for the nine months ended September 30, 2024, was $9,314,762, compared to $9,199,965 for the same period in 2023[4] - Oil and gas sales revenue for the nine months ended September 30, 2024, was $97,357, compared to $705,230 for the same period in 2023[4] - Power generation units revenue for the nine months ended September 30, 2024, was $12,964,409, compared to $10,416,808 in the same period in 2023[45] - Parts revenue for the nine months ended September 30, 2024, was $3,033,977, compared to $4,085,580 in the same period in 2023[45] - Total units and parts revenue for the nine months ended September 30, 2024, was $15,998,386, compared to $14,502,388 in the same period in 2023[45] - Service and repairs revenue for the nine months ended September 30, 2024, was $9,314,762, compared to $9,199,965 in the same period in 2023[45] - Total revenue for the nine months ended September 30, 2024, was $25,313,148, compared to $23,702,353 in the same period in 2023[45] - Power generation units revenue for the three months ended September 30, 2024, was $3,029,038, compared to $4,849,415 in the same period in 2023[45] - Parts revenue for the three months ended September 30, 2024, was $883,335, compared to $1,892,767 in the same period in 2023[45] - Total units and parts revenue for the three months ended September 30, 2024, was $3,912,373, compared to $6,742,182 in the same period in 2023[45] - Service and repairs revenue for the three months ended September 30, 2024, was $3,282,781, compared to $3,155,064 in the same period in 2023[45] - Total revenue for the three months ended September 30, 2024, was $7,195,154, compared to $9,897,246 in the same period in 2023[45] Net Loss and Comprehensive Loss - Net loss for the nine months ended September 30, 2024, was $63.94 million, compared to a net loss of $10.79 million for the same period in 2023[5] - Net loss for the nine months ended September 30, 2024, was $63,944,509, compared to $10,785,683 for the same period in 2023[6] - Total comprehensive loss for the nine months ended September 30, 2024, was $63,989,167, compared to $10,664,188 for the same period in 2023[6] - Net loss for the nine months ended September 30, 2024, was $34,267,479[11] - Net loss for the nine months ended September 30, 2023, was $8,175,563[14] - The company reported a net loss of $63.9 million for the nine months ended September 30, 2024, compared to a net loss of $10.8 million for the same period in 2023[116] - The company reported a net loss of $34.8 million for the three months ended September 30, 2024, compared to a net loss of $7.9 million in 2023, driven by a goodwill impairment of $34.9 million[120] Cash and Cash Equivalents - Cash and cash equivalents decreased to $451,415 as of September 30, 2024, from $906,060 as of December 31, 2023[3] - Net cash used in operating activities for the nine months ended September 30, 2024, was $1,454,022, compared to $4,840,379 for the same period in 2023[7] - Cash flows from financing activities provided $860,831 for the nine months ended September 30, 2024, compared to $3,012,047 for the same period in 2023[8] - Cash at the end of the period for September 30, 2024, was $451,415, compared to $1,432,599 for the same period in 2023[8] - Net cash used in operating activities was $1.5 million for the nine months ended September 30, 2024, compared to $4.8 million in 2023, with a decrease in cash during the period to $451,415 from $1.4 million[119] - Cash decreased from $906,060 as of December 31, 2023, to $451,415 as of September 30, 2024[3] Goodwill and Intangible Assets - Goodwill impairment of $34.86 million was recorded in the nine months ended September 30, 2024[5] - Goodwill impairment and change in fair value of derivative liability adjustments totaled $34,860,411 and $18,573,289, respectively, for the nine months ended September 30, 2024[7] - Goodwill impairment charge of $34,860,411 recorded for the three months ended September 30, 2024, representing the entire goodwill balance[51] - The Company recorded a goodwill impairment charge of $34,860,411 for the three months ended September 30, 2024, due to a significant decline in stock price and delisting from a national stock exchange[51] - Goodwill is subject to impairment testing at least annually, with the option to first assess qualitative factors before proceeding to a quantitative test comparing fair value to carrying value[40] - Intangible assets related to the ESG Clean Energy license are amortized over 16 years, while Simson-Maxwell customer relationships are amortized over 10 years[41] - Intangible assets from the Simson-Maxwell acquisition include customer relationships valued at $3,908,126, amortized over 10 years, and the Simson-Maxwell brand, which is not amortized[127] - The acquisition of a 51% interest in Viking Ozone, Viking Sentinel, and Viking Protection resulted in aggregate intangible assets of $15,433,340, which have an indefinite life and are not amortized[128] - The ESG Clean Energy License intangible asset valued at $5,000,000 with accumulated amortization of $963,295 as of September 30, 2024[57] - Estimated future amortization expense for ESG Clean Energy License is $304,465 per year for the next five years[58] - Simson-Maxwell Brand and Customer Relationships valued at $2,230,673 and $1,677,453 respectively, with estimated future amortization of $167,745 per year for Customer Relationships[58] Operating Expenses - Total operating expenses for the nine months ended September 30, 2024, were $30.80 million, compared to $27.62 million for the same period in 2023[4] - The company's operating expenses increased by $3.2 million to $30.8 million for the nine months ended September 30, 2024, compared to $27.6 million in 2023, primarily due to increased power segment sales[120] - The company's operating expenses decreased by $1.6 million to $9.1 million for the three months ended September 30, 2024, compared to $10.7 million in 2023[119] - The company's total operating expenses for the nine months ended September 30, 2024, were $30,801,256, with oil and gas segment expenses at $3,749,935 and power generation segment expenses at $27,051,321[101] - The company's general and administrative expenses for the nine months ended September 30, 2024, were $11,990,210, with oil and gas segment expenses at $3,144,693 and power generation segment expenses at $8,845,517[101] Stock and Equity - Loss per share of common stock for the nine months ended September 30, 2024, was $0.35, compared to $0.18 for the same period in 2023[5] - Common shares issued on true-up of Series C preferred stock for the nine months ended September 30, 2024, totaled 36,103,638 shares[10] - Common shares issued on true-up of Series C preferred stock increased by 36,103,638 shares, amounting to $36.104 million[10] - Common shares issued on conversion of debt totaled 19,907,976 shares, amounting to $19.908 million[10] - Additional paid-in capital increased to $155,913,262 as of September 30, 2024[10] - Common shares issued on conversion of Series H preferred stock amounted to 3,333,333 shares, totaling $3.333 million[13] - Common shares issued on true-up of Series C preferred stock in 2023 amounted to 11,900,223 shares, totaling $11.900 million[13] - The company issued a total of 116,834,937 shares of common stock during the nine months ended September 30, 2024, including 89,149,679 True-Up shares and 19,907,976 shares from debt conversion[82] - Series C Preferred Stock holders are entitled to cumulative dividends of 24.95% per annum, adjustable up to 34.95% if a Trigger Event occurs[83] - The conversion rate for Series C Preferred Stock is 95% of the average of the lowest 5 daily VWAPs during the Measuring Period, not exceeding 100% of the lowest sales price on the last day of the Measuring Period[85] - The Series C Preferred Stock has a maturity date of seven years after issuance, after which remaining shares will automatically convert into common stock if sufficient shares are available[85] - Camber filed an amendment to the Series C COD on October 31, 2022, adjusting the conversion rate calculation and waiving additional shares due to Equity Condition failures[85] - Discover waived all rights to receive additional Conversion Shares and convert Promissory Notes into common stock, effective November 3, 2022[86] - As of September 30, 2024, Antilles held 30 shares of Series C Preferred Stock, convertible into common stock at a floor price of $0.15 per share[86] - The fair value of 101,585,980 True-Up shares due from prior conversions was $16,253,757 as of March 25, 2024, with 43,574,679 shares remaining by September 30, 2024[87] - Series G Preferred Stock has a face value of $10,000 per share and accrues cumulative dividends at 10.0% per annum[90] - In 2022, the Company redeemed 5,272 shares of Series G Preferred Stock, reducing outstanding shares from 10,544 to 5,272[91] - As of September 30, 2024, 2,641,416 warrants were outstanding with a weighted average exercise price of $0.21 and a remaining contractual life of 2.60 years[94] - Series H Preferred Stock was issued at $10,000 per share, with 475 shares converted into 7,916,666 shares of common stock by September 30, 2024[92] - The company increased the exercise price of James Doris' outstanding warrants from $0.009 per share to $1.00 per share on October 23, 2024[101] Mergers and Acquisitions - Camber Energy completed a merger with Viking Energy Group on August 1, 2023, issuing 49,290,152 shares of Camber Common Stock representing 59.99% of outstanding shares[17] - Camber reserved 88,647,137 additional shares for potential conversions and exercises related to the merger[17] - The merger is accounted for as a reverse acquisition with Viking treated as the acquirer[17] - Viking acquired 60.5% of Simson-Maxwell Ltd. for $7,958,159 in cash, expanding its portfolio in power generation and custom energy solutions[18] - Viking acquired a 51% interest in Viking Ozone Technology, LLC, which owns a patented medical waste disposal system using ozone technology, with Simson-Maxwell as the exclusive worldwide manufacturer[20] - Viking acquired a 51% interest in Viking Sentinel and Viking Protection, owning intellectual property for open conductor detection systems to enhance grid safety and stability[20] - The merger consideration transferred was $52,036,151, with Viking shareholders owning 64.9% of the merged entity[50] - Net assets acquired in the merger included $1,475,000 in oil and gas properties and $56,432,183 in investment in Viking[52] - Camber completed the merger with Viking Energy Group, Inc., with Viking surviving the merger as a wholly owned subsidiary of Camber, and Camber issued approximately 49,290,152 shares of Camber Common Stock, representing approximately 59.99% of the outstanding Camber Common Stock[112][114] - Viking acquired approximately 60.5% of the issued and outstanding shares of Simson-Maxwell Ltd. for $7,958,159 in cash, with Simson-Maxwell providing commercial and industrial clients with efficient, flexible, environmentally responsible and clean-tech energy systems[106] - Viking acquired 51% of Viking Ozone for $2,495,868, including $2 million in stock and $495,868 in contingent consideration, with patents and intellectual property valued at $4,916,057[60][61] - Viking acquired 51% of Viking Sentinel for $233,334 in stock, with patents and intellectual property valued at $457,518[62][63] - Viking acquired 51% of Viking Protection for $21 million, payable in convertible preferred stock or cash, with potential revenues of $500 million if sales targets are met[64][65] - Total consideration for the acquisition is $5,373,223, including $4,433,334 in fair value of stock and $939,889 in contingent consideration[66] - Intangible assets for patents and intellectual property are valued at $10,059,765, with a non-controlling interest of $(4,686,542)[66] - The company consolidates three VIEs: Viking Ozone, Viking Sentinel, and Viking Protection, with total intangible assets of $15,433,340 and non-controlling interests of $(7,330,915)[67][68] Asset and Liability Changes - Accounts receivable decreased to $5.92 million as of September 30, 2024, from $8.55 million as of December 31, 2023[3] - Inventory decreased to $8.32 million as of September 30, 2024, from $9.80 million as of December 31, 2023[3] - Total current liabilities decreased to $29.31 million as of September 30, 2024, from $31.80 million as of December 31, 2023[3] - Accounts receivable decreased from $8,545,449 as of December 31, 2023, to $5,922,607 as of September 30, 2024[3] - Inventory decreased from $9,795,969 as of December 31, 2023, to $8,321,934 as of September 30, 2024[3] - Total current assets decreased from $19,653,836 as of December 31, 2023, to $15,085,907 as of September 30, 2024[3] - Current assets decreased to $15.1 million as of September 30, 2024, from $17.9 million in 2023, while current liabilities increased to $29.3 million from $27.4 million, resulting in a working capital deficit of $14.2 million[118] - The company's stockholders' deficit stood at $(31,662,829) as of September 30, 2024, with long-term debt of $39,673,475 and a working capital deficiency of $14,221,385[24] - The largest components of current liabilities include accrued interest on notes payable of $6,194,664 and drawings against the bank credit facility of $4,193,122[24] - The company's derivative liability for Series C Preferred Stock was valued at $533,782 using Level 3 inputs, with total losses of $(18,573,289) for the nine months ended September 30, 2024[35] - The company's reserve for expected credit losses on power generation accounts receivable was $31,444 as of September 30, 2024, down from $36,678 at December 31, 2023[36] - Inventory as of September 30, 2024 was $8,321,934, down from $9,795,969 at December 31, 2023, with a reserve for obsolescence of $(1,189,313)[37] - The company uses the right-of-use (ROU) model for leases, recognizing lease liabilities and ROU assets at the lease commencement date, discounted using the incremental borrowing rate[36] - The company's notes payable to related parties as of September 30, 2024, totaled $1,021,768, with a current portion of $502,730[73] - Noncontrolling interest decreased from $7,040,648 on January 1, 2024, to $6,911,867 on September 30, 2024, reflecting a net loss attributable to noncontrolling interest of $128,781[75] - The company's long-term debt and other short-term borrowings totaled $39,676,296 as of September 30, 2024, with

Core Viewpoint - Coelacanth Energy Inc. has secured a $52 million revolving bank credit facility and initiated a 4-well drilling program at Two Rivers East, aiming to enhance production and operational flexibility [2][6]. Group 1: Drilling Program - The drilling program at Two Rivers East includes drilling and completing 3 Lower Montney wells, completing 1 previously drilled Upper Montney well, and drilling a Bluesky disposal well, with a total estimated cost of approximately $36 million [3]. - The first well was spud on September 1, 2024, and the completion of the 4 pad wells is scheduled to start in late October 2024 [3]. - Previous drilling in 2023 at the same site yielded an average production rate of 1,338 boe/d per well, totaling 4,014 boe/d, with 54% being light oil [4]. Group 2: Strategic Benefits - The program is expected to accelerate the company's growth profile and add significant drilling inventory by proving the commerciality of the Upper Montney [5]. - It aims to reduce risks associated with processing and transportation commitments and minimize disruptions during the startup of the new facility [5]. - The construction of a new battery facility for gas compression, oil treating, and water handling is underway, with operations expected to commence in April 2025 [5]. Group 3: Financial Update - Coelacanth has secured two revolving bank credit facilities totaling $52 million, backed by reserves at Two Rivers West and a $45 million Letter of Credit from a third party for a 2-year term [6]. - The company had over $60 million in cash and no debt at the end of Q2 2024, projecting a net debt of approximately $40 million post-drilling program completion [8]. - The company plans to use proceeds from share purchase warrants for additional drilling at Two Rivers East scheduled for summer 2025 [9].

Revenue Performance - Camber Energy's Q2 2024 reported revenue was $9.22 million, an increase of approximately 19.66% compared to $8.29 million in Q1 2024[4]. - The revenue for Q2 2024 was primarily derived from the power solutions business, including the design, sale, and service of power generation units and systems[3]. - The company achieved a revenue of $9,919,961 in Q2 2022, indicating a significant growth trajectory over the past two years[3]. Business Operations - Camber has a majority interest in Simson-Maxwell Ltd., a reputable participant in the power solutions sector for over 80 years, with approximately 4,000 customers[7]. - Camber's majority-owned subsidiary, Viking Energy Group, provides custom energy and power solutions to commercial and industrial clients in North America[9]. Technology and Innovation - The company holds an exclusive license in Canada for a patented carbon-capture system, which is designed to make carbon capture economically viable[7]. - Camber's Broken Conductor Protection technology has multiple patents and has been independently tested by recognized laboratories, aimed at reducing wildfire risk[7]. Corporate Strategy - The company is focused on limiting exposure to external factors while maintaining a listing on a reputable trading platform[2]. - Camber is committed to improving all areas within its control, as stated in its shareholder letter[8]. Market Position - Camber's shares have been upgraded to the OTCQB Venture Market, enhancing transparency and trading experience for investors[1].