EMPIRE PETROLEUM CORPORATION
Balance Sheet
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & Equivalents | $1.2M | $2.3M | $7.8M | $11.9M | $3.6M | $157.7K | $0 | $84.6K |
| Accounts Receivable | $5.1M | $8.2M | $8.4M | $7.8M | $7.7M | $1.3M | — | $124.6K |
| Inventory | $1.3M | $1.3M | $1.4M | $1.8M | $1.0M | $531.3K | $476.3K | — |
| Total Current Assets | $8.2M | $12.4M | $18.7M | $22.7M | $13.1M | $2.2M | $1.7M | $367.5K |
| Property, Plant & Equipment | $56.3M | $110.1M | $72.4M | $45.3M | $30.7M | $8.2M | $9.3M | $1.6M |
| Goodwill | — | — | — | — | — | — | — | — |
| Intangible Assets (Excl. Goodwill) | — | — | — | — | — | — | — | — |
| Total Assets | $65.9M | $123.9M | $92.6M | $71.5M | $50.1M | $11.2M | $11.0M | $2.0M |
| Liabilities | ||||||||
| Accounts Payable | $10.8M | $10.5M | $16.4M | $5.8M | $4.3M | $1.9M | $1.0M | $320.7K |
| Total Current Liabilities | $24.3M | $21.3M | $25.0M | $17.6M | $12.1M | $6.1M | $2.2M | $741.0K |
| Long-Term Debt | — | $11.3M | $4.6M | — | — | — | $7.7M | $1.2M |
| Total Liabilities | $70.5M | $61.1M | $57.7M | $48.3M | $40.3M | $29.7M | $16.0M | $2.1M |
| Stockholders' Equity | ||||||||
| Retained Earnings | $-152.9M | $-80.8M | $-64.6M | $-52.1M | $-59.2M | $-40.6M | $-23.8M | $-17.1M |
| Total Stockholders' Equity | $-4.6M | $62.8M | $35.0M | $23.2M | $9.8M | $-18.4M | $-4.9M | $-150.2K |
Remember, things are never clear until it’s too late.