Company: CRCE
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001096906-25-000275
Chunk: 1

Company: Circle Energy, Inc./NV
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7
Chunk 1
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 31, 2023. The decrease is primarily related to less in legal costs in 2024 as compared to 2023.

24

Net loss. The Company had net loss of $63,936 for year ended 2024, as compared to $78,380 for the year ended December 31, 2023.  This increase in loss was the result of decreased general and administrative costs.

Liquidity and Capital Resources 

Financing of Operations. We used cash on hand from previous equity offerings, along with the funds from the issuance of the founder’s shares, to fund our operations during 2023 and 2024. Those operations consisted of maintaining the listing of the common stock of the Company on OTC Markets.  

Cash Flows. There were no cash inflows during 2023 and 2024. We used cash in operating activity of $69,314 during the year ended December 31, 2024 and $74,903 for the year ended December 31, 2023.  

As of December 31, 2024, we had cash on hand of $192,024 and working capital of $203,926, as compared to cash on hand of $261,338 and working capital of $267,862 as of December 31, 2023.

Contractual Obligations. The Company has a short-term lease for executive office-sharing space in Tulsa, Oklahoma.  

Subsequent Events

Not applicable.

Effects of Inflation and Pricing

The oil and natural gas industry is very cyclical and the demand for goods and services of oil field companies, suppliers and others associated with the industry puts extreme pressure on the economic stability and pricing structure within the industry. Typically, as prices for oil and natural gas increase, so do associated costs. Material changes in prices impact the current revenue stream, estimates of future reserves, borrowing base calculations of bank loans and the value of properties in purchase and sale transactions. Material changes in prices can impact the value of oil and natural gas companies and their ability to raise capital, borrow money and retain personnel. We anticipate business costs will vary in accordance with commodity prices for oil and natural gas, and the associated increase or decrease in demand for services related to production and exploration.

Off-Balance Sheet Financing Arrangements 

As of December 31, 2024, we had no off-balance sheet financing arrangements. 

Critical Accounting Policies and Estimates

Our discussion of financial condition and results of operations is based upon the information