Company: CRCE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001824
Chunk: 12

Company: Circle Energy, Inc./NV
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 September 30, 2025, as compared to $15,273 for the same period of 2024.  The largest costs during the period for both 2025 and 2024 were legal, accounting and transfer agent fees.  

Net loss. The Company had net loss of $16,888 for three months ended September 30, 2025, as compared to $15,273 for the same period of 2024.  This increase in loss was the result of increased general and administrative costs.

Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024

Production, sales, production costs and production taxes. The Company does not currently have any producing wells and thus has no production, sales, production costs or production taxes nor has it ever had any to date.

Depreciation, depletion and amortization. We have no production and our current oil and gas properties thus are not yet subject to amortization.  Further, we have no depreciable assets.  

General and administrative expenses. General and administrative expenses were $61,380 for nine months ended September 30, 2025, as compared to $51,371 for the same period of 2024.  The largest costs during the period for both 2025 and 2024 were legal, accounting and transfer agent fees.  

Net loss. The Company had net loss of $61,380 for nine months ended September 30, 2025, as compared to $51,371 for the same period of 2024.  This increase in loss was the result of increased general and administrative costs.

Liquidity and Capital Resources

Management believes it has on hand sufficient cash resources to meet its material cash requirements for the next 12 months but will require further funding or other arrangements to commence extensive drilling operations or acquire further oil and gas interests.  As discussed further below, management believes that through its resources and 

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relationships, appropriate arrangements for required funding can be reasonably obtained.  Mr. Rochford, one of our founders, paid $240,000 for his founder’s shares in the Company.  In addition, we received $264,000 in gross proceeds from the sale of shares of our common stock in a non-public offering of the shares.  We have no capital commitments for expenditures, other than those existing under our current oil and gas lease.  We anticipate primarily utilizing these funds to increase