Company: CRCE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001324
Chunk: 10

Company: Circle Energy, Inc./NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 space.  This lease is month to month at $79 per month.  This amount is shown in the Statement of Operations as General and administrative expense.

NOTE 4 – LOSS PER SHARE INFORMATION

For the three months ended
 
For the six months ended

June 30,
2025
 
June 30,
2024
 
June 30,
2025
 
June 30,
2024

Net Loss 
 
$(20,219) 
 
$(12,047) 
 
$(44,492) 
 
$(36,098) 

Basic and Diluted Weighted-Average Shares Outstanding
 
1,530,000  
 
1,530,000  
 
1,530,000  
 
1,530,000  

Basic and Diluted Loss per Share 
 
$(0.01) 
 
$(0.01) 
 
$(0.03) 
 
$(0.02) 

There are currently no stock options or other share-based compensation outstanding to create a dilutive effect on our earnings per share.

NOTE 5 – ACQUISITIONS
 
During the six months ended June 30, 2025, the Company entered into a new Farmout Agreement and Conditional Lease Assignment dated May 5, 2025, replacing the previous agreement that was set to expire on May 16, 2025.  The terms of the new agreement are the same the previous agreement, such that we acquired a 75% working interest, and 55.5% net revenue interest, in the C. W. Logsdon Lease, an 80-acre tract located in Andrews County, Texas.  We acquired the interest from Boa Vista, LLC, a New Mexico limited liability company which holds the remaining 25% working interest.  While the Company believes that there are Proved Undeveloped (“PUD”) drilling locations on this acreage, a full reserve analysis has not yet been completed and so the Company has treated this acreage as unproven property.

NOTE 6 – LEGAL MATTERS
 
In the ordinary course of business, we may be, from time to time, a claimant or a defendant in various legal proceedings.  We do not presently have any material litigation pending or threatened requiring disclosure under this item.

NOTE 7 – SUBSEQUENT EVENTS
 
None.