10-Q - CoJax Oil & Gas Corp (0001763925) (Filer)

Fri, May 9, 3:24 PM (13 days ago)

**CoJax Oil and Gas Corporation (COJAX) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2025 revenue was $338,222, an 85.8% increase from Q1 2024 ($182,052). - **Profit Margins:** The company reported a net loss of $144,806 for Q1 2025, an improvement from the $303,486 net loss in Q1 2024. - **Cash Flow:** Net cash provided by operating activities was $32,796 for Q1 2025, a significant improvement from the $4,201 used in Q1 2024. - **Earnings Changes:** The loss from operations decreased by 52.4% year-over-year, driven by increased revenues. **Key Metrics:** - **Sales Volumes:** Oil volume increased to 4,340 barrels in Q1 2025 from 2,948 barrels in Q1 2024. Natural gas volume was negligible. - **Average Sales Price:** Oil price per barrel was $75.42 in Q1 2025, slightly lower than $75.69 in Q1 2024. **Trends and Uncertainties:** - **Operational Expenses:** Lease operating expenses increased by 105.4% due to acquisitions in 2024. - **Future Operations:** The company plans to continue acquisitions and development in the Gulf States Drill Region, focusing on cash flow positivity and debt reduction. - **Market Risks:** The company faces volatility in oil and natural gas prices, regulatory risks, and competition in the industry. **Future Impact:** - **Going Concern:** The company's ability to continue as a going concern depends on generating future profitable operations or securing additional financing. - **Capital Resources:** The company is evaluating potential acquisitions and development opportunities, aiming to acquire producing properties rather than exploratory ones. **Conclusion:** CoJax Oil and Gas Corporation showed significant improvement in revenue and cash flow in Q1 2025 compared to the same period in 2024. However, the company continues to face challenges related to operational expenses, market volatility, and the need for additional financing to support future growth. The company's strategic focus on acquisitions and development in the Gulf States Drill Region will be crucial for its future success.