$SAFX

XCF Global, Inc.

CIK:0002019793|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 690,881	$ 6,576,232	$ 1,039,569	$ 6,576,232
Cost of sales	414,681	7,811,302	1,075,619	7,811,302
Gross income (loss)	276,200	(1,235,070)	(36,050)	(1,235,070)
Operating expenses:
Operating expenses	1,574,560	2,177,269	5,010,244	3,724,134
General and administrative expenses	913,028	6,487,895	4,883,111	10,270,680
Severance expense, net		13,200,000	(14,516)	13,200,000
Professional fees	3,544,729	11,277,307	6,178,735	11,853,942
Total operating expenses	6,032,317	33,142,471	16,057,574	39,048,756
Loss from operations	(5,756,117)	(34,377,541)	(16,093,624)	(40,283,826)
Other income (expense)
Change in the fair value of notes payable	(188,371)	4,797,980	(331,229)	4,797,980
Change in fair value of warrants	(1,747,324)	206,166,000	(6,311,824)	206,166,000
Loss on issuance of debt to related party		(40,531,000)		(40,531,000)
ELOC commitment fees		(7,400,000)		(7,400,000)
Unrealized loss on derivative asset		(16,058,628)		(16,058,628)
Interest income (expense), net	(6,549,595)	(2,067,970)	(9,633,164)	(3,566,870)
Other income (expense), net	108,389	(260,732)	424,407	(322,748)
Total other income (expense)	(8,376,901)	144,645,650	(15,851,810)	143,084,734
Net income (loss)	$ (14,133,018)	$ 110,268,109	$ (31,945,434)	$ 102,800,908
Income (loss) per common share; basic	$ (0.04)	$ 0.83	$ (0.11)	$ 0.84
Income (loss) per common share; diluted	$ (0.04)	$ 0.83	$ (0.11)	$ 0.84
Weighted average number of common shares outstanding; basic	353,177,339	133,638,081	297,418,437	121,740,904
Weighted average number of common shares outstanding; diluted	353,177,339	133,638,081	297,418,437	121,740,904

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (31,945,434)	$ 102,800,908
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Stock-based compensation expense (benefit)	(6,104,584)	1,186,605
Non-cash severance expense	(14,516)	13,200,000
Non-employee share-based payments	524,325
Net realizable value adjustments		2,581,874
Change in fair value of notes payable	331,229	(4,797,980)
Change in fair value of loans payable to related party		79,000
Amortization of debt discount		105,747
Loss on issuance of debt to related party		40,531,000
Loss on issuance of debt		138,000
ELOC commitment fee expense		7,400,000
Change in fair value of warrant liabilities	6,311,824	(206,166,000)
Change in fair value of derivative asset		16,058,628
Bad debt expense	1,655,291
Changes in operating assets and liabilities:
Accounts receivable	21,183,836	(7,364,394)
Related party receivable		(65,180)
Inventories	(7,023,176)	(5,932,599)
Security deposit	700,000
Other current assets	(489,199)	191,389
Related party payable		709,318
Accounts payable	(4,613,211)	15,241,633
Loans payable to related party
Professional fees payable		4,915,209
Accrued expenses and other current liabilities	8,797,246	10,651,043
Net cash used in operating activities	(10,686,369)	(8,535,798)
Cash flows from investing activities:
Cash acquired in Acquisition		220,897
Capital expenditures for construction in progress	(6,355,930)	(1,474,214)
Net cash used in investing activities	(6,355,930)	(1,253,317)
Cash flows from financing activities:
Proceeds from member contributions		4,387,000
Proceeds from borrowing	1,200,000	1,950,000
Proceeds from related party note payable		2,500,000
Payment of GNCU loans	(750,000)
Payment of financial liability	(900,000)
Proceeds for common stock issued to EEME	11,000,001
Proceeds from note payable	31,917	950,000
ELOC at the market stock sales	2,680,233
Proceeds from issuance of common stock to Brown Stone	3,000,000
Proceeds from issuance of common stock to Roth Capital	362,250
Proceeds from issuance of common stock to Narrow Road	100,000
Proceeds from issuance of common stock to Connective Capital	400,000
Proceeds from issuance of common stock to Intracoastal Capital	100,000
Proceeds from issuance of common stock to Wainwright	22,750
Capital raise costs	(35,000)
Net cash provided by financing activities	17,212,151	9,787,000
Net increase in cash, cash equivalents and restricted cash	169,852	(2,115)
Cash, cash equivalents and restricted cash at beginning of period	159,232	413,006
Cash, cash equivalents and restricted cash at the end of period	329,084	410,891
Supplemental disclosure of cash flow information
Cash paid for interest	1,741,304
Supplemental disclosure of Non-Cash Investing and Financing Activities:
Capitalization of debt closing costs to construction in progress		107,650
Issuance of common stock in exchange for members’ equity in Acquisition		1,060,619,510
Assumption of net assets (liabilities) in Acquisition		(93,647,521)
Issuance of membership units to settle related party payables		500,000
Assumption of net assets (liabilities) from Business Combination		(226,081,466)
Conversion of convertible note payable to related parties into New XCF common stock		100,000,000
Issuance of common stock for ELOC commitment fee		7,400,000
Conversion of non redemption agreement		1,240,000
Interest capitalization on notes payable	4,802,006	5,943,286
Interest capitalization on financial liability	5,445,590	5,306,929
Conversion of miscellaneous notes and payables to equity	917,621
Common stock issued as penalty interest on various notes	1,858,547
Common stock issued to vendor	$ 69,335

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 329,084	$ 154,937
Restricted cash		4,295
Accounts receivable, net	1,711,635	24,550,762
Related party receivables	739,917	739,917
Other receivable	950,000	1,076,080
Inventory	7,361,147	337,971
Other current assets	1,490,405	784,645
Total current assets	12,582,188	27,648,607
Security deposit	800,000	1,500,000
Property, plant and equipment	407,648,007	390,323,968
TOTAL ASSETS	421,030,195	419,472,575
Current liabilities
Accounts payable	42,064,158	48,122,947
Related party payable		16,701,982
Loans payable to related party	356,427	593,231
Notes payable, current portion	124,245,105	121,915,613
Warrant liabilities	7,097,326	751,800
Accrued expenses and other current liabilities	77,171,082	60,928,865
Total current liabilities	250,934,098	249,014,438
Financial liability, net of closing costs	132,825,754	132,806,188
TOTAL LIABILITIES	383,759,852	381,820,626
Commitments and contingencies (Note 11)
STOCKHOLDERS’ EQUITY
Preferred stock; $0.0001 par value, 50,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
Common Stock; $0.0001 par value, 500,000,000 shares authorized; 394,530,494 and 206,473,533 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively	39,452	20,646
Additional paid-in capital	85,902,009	54,356,988
Accumulated deficit	(48,671,118)	(16,725,685)
TOTAL STOCKHOLDERS’ EQUITY	37,270,343	37,651,949
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 421,030,195	$ 419,472,575