Company: CRCE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001324
Chunk: 4

Company: Circle Energy, Inc./NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 $                  226,975 

Supplemental Cash Flow Information

Cash paid for interest
 
 $                           -   
 
 $                           -   

The accompanying notes are an integral part of these unaudited interim financial statements.

7

CIRCLE ENERGY, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Organization and Nature of Operations – Circle Energy, Inc. is a Nevada corporation. Circle Energy, Inc. is referred to herein as the “Company.” The Company owns interests in oil and natural gas properties located in Texas and is engaged primarily in the acquisition, exploration and development of oil and natural gas properties.
 
In the opinion of the Company, the accompanying unaudited condensed interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2025, and its results of operations for the three and six months ended June 30, 2025, and cash flows for the six months ended June 30, 2025. The condensed balance sheet at December 31, 2024 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. Operating results for the three- and six-month periods ended June 30, 2025, are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2025.
 
These unaudited condensed interim financial statements have been prepared by management in accordance with generally accepted accounting principles used in the United States of America (“U.S. GAAP”). These unaudited condensed interim financial statements should be read in conjunction with the annual audited financial statements included in the Company’s Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission.
 
This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to U.S. GAAP and have been consistently applied in the preparation of the financial statements.
 
Emerging Growth Company Status – As a company with less than $1.07 billion in revenue during our last fiscal