$CJAX

CoJax Oil & Gas Corp

CIK:0001763925|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 329,386	$ 233,624	$ 441,462	$ 571,847
Operating costs and expenses:
Lease operating expenses	67,168	126,385	182,514	223,625
General and administrative expenses	156,332	204,253	350,327	478,583
Depletion and accretion on discounted liabilities	102,844	106,804	171,113	217,779
Total operating costs and expenses	326,344	437,442	703,954	919,987
Income (Loss) from Operations	3,042	(203,818)	(262,492)	(348,140)
Other expense:
Other income and expense	86		169
Interest expense, net	(514)	(243)	(1,022)	(727)
Total other expense	(428)	(243)	(853)	(727)
Net Income (Loss)	$ 2,614	$ (204,061)	$ (263,345)	$ (348,867)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (263,345)	$ (348,867)
Adjustments to reconcile Net loss to net cash provided by (used in) operations:
Depletion expense	146,465	195,939
Accretion of asset retirement obligation	24,648	21,840
Changes in operating assets and liabilities:
Accounts receivable	(144,139)	(22,856)
Prepaid expense	(6,791)	21,210
Accounts payable and accrued liabilities	225,810	154,556
Net cash provided (used in) by operating activities	(17,352)	21,822
Cash flows from investing activities:
Capitalized development costs	(1,800)
Net cash used in investing activities	(1,800)
Cash flows from financing activities:
Payments of loan payable - SBA PPP loan	(5,083)	(5,031)
Net cash used in financing activities	(5,083)	(5,031)
Net change in cash	(24,235)	16,791
Cash at beginning of period	77,219	46,738
Cash at end of period	52,984	63,529
Supplemental disclosure of non-cash operating activities:
Cash paid for interest and taxes	45	298
Supplemental disclosure of non-cash investing activities:
Common shares issued for accrued salaries		340,232
Capital expenditures on oil and natural gas properties included in accounts payable	$ 243,556

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash	$ 52,984	$ 77,219
Accounts receivable, net	254,092	109,953
Prepaid expenses	27,375	20,584
Total Current Assets	334,451	207,756
Properties and Equipment
Oil and natural gas properties at cost
Proved Properties	8,350,836	8,105,480
Unproved Properties	2,169,812	2,169,812
Less: Accumulated depletion	(1,046,477)	(900,012)
Total Properties and Equipment, net	9,474,171	9,375,280
Total Assets	9,808,622	9,583,036
Current Liabilities
Accounts payable	294,072	131,365
Workover expense payable	173,038	2,205
Accrued salaries and payroll taxes	1,072,891	937,065
Current portion of notes payable	5,924	10,190
Notes payable – related party	103,001	103,001
Total Current Liabilities	1,648,926	1,183,826
Long-term Liabilities
Asset retirement obligations	569,304	544,656
Note payable, net of current portion		817
Total Long-term Liabilities	569,304	545,473
Total Liabilities	2,218,230	1,729,299
Commitments and contingencies (Note 10)
Stockholders’ Equity
Preferred stock, $0.10 par value, 50,000,000 current shares authorized, 0 and 0 Series A shares, $0.01 par value issued and outstanding at June 30, 2026 and December 31, 2025, respectively.
Common stock, $0.01 par value, 300,000,000 current shares authorized, 14,168,755 and 14,168,755 shares issued and outstanding, at June 30, 2026 and December 31, 2025 respectively.	141,687	141,687
Subscription payable	10,000	10,000
Additional paid-in capital	21,185,146	21,185,146
Accumulated deficit	(13,746,441)	(13,483,096)
Total Stockholders’ Equity	7,590,392	7,853,737
Total Liabilities and Stockholders’ Equity	$ 9,808,622	$ 9,583,036