Annual report pursuant to Section 13 and 15(d)

INCOME TAXES - Net Deferred Taxes (Details)

v3.22.4
INCOME TAXES - Net Deferred Taxes (Details) - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Deferred Tax Assets    
Net operating loss (NOL) carryforward $ 70,564,004 $ 60,155,112
Equity compensation 1,554,680 691,076
Asset retirement obligation 6,635,099 3,348,875
Fair market value of derivatives 2,827,202 6,403,745
Deferred Tax Asset, Interest Carryforward 4,917,358 0
Others 1,173,441 61,077
Gross Deferred Tax Assets 87,671,784 70,659,885
Less: valuation allowance (24,182,975) (48,334,217)
Net Deferred Tax Assets 63,488,809 22,325,668
Deferred Tax Liabilities    
Property and equipment (71,402,820) (22,415,959)
Other (585,005) 0
Net Deferred Liabilities 71,987,825 22,415,959
Net Deferred Tax Liabilities $ (8,499,016) $ (90,292)