APHD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2024-03-25

• The Company is a growing U.S. energy company based in Jacksboro, Texas, engaged in the acquisition and development of high-probability, lower risk onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging m…

• Three Months Ended January 31, 2024 Compared to Three Months Ended January 31, 2023

• During the three months ended January 31, 2024, the Company earned royalty revenues of $75,991 compared to royalty revenues of $170,312 for the three months ended January 31, 2023. The revenue is derived from its interests in various oil and gas properties and the decrease in royalty revenues in the…

• Nine Months Ended January 31, 2024 Compared to Nine Months Ended January 31, 2023

• During the nine months ended January 31, 2024, the Company earned royalty revenues of $211,181 compared to royalty revenues of $794,578 for the nine months ended January 31, 2023. The revenue is derived from its interests in various oil and gas properties and the decrease in royalty revenues in the …

Text removed vs the prior filing · source: 10-Q · 2023-12-15

• This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements t…

• During the three months ended October 31, 2023, the Company earned royalty revenues of $59,496 compared to royalty revenues of $414,356 for the three months ended October 31, 2022. The revenue is derived from its interests in various oil and gas properties and the decrease in royalty revenues in the…

• During the six months ended October 31, 2023, the Company earned royalty revenues of $135,190 compared to royalty revenues of $624,266 for the six months ended October 31, 2022. The revenue is derived from its interests in various oil and gas properties and the decrease in royalty revenues in the cu…

• the revenues generated from the oil and gas properties, the Company recorded depletion expense of $95,283 during the six months ended October 31, 2023 compared to depletion expense of $311,216 during the period ended October 31, 2022 which represents the proportionate use of the produced units in th…

• During the three months ended October 31, 2023, the Company incurred operating expenses of $362,824 compared to operating expenses of $539,631 during the three months ended October 31, 2022. The decrease in operating expenses was due to an overall decrease in operating activities for the current yea…

Text added vs the prior filing · source: 10-Q · 2024-03-25

• At the end of the period being reported upon, the Company carried out an evaluation, under the supervision and with the participation of our President, who also acts as our Chief Financial Officer, in consultation with the Company’s independent public accounting firm, of the effectiveness of the des…

• Based on the foregoing, our President who also acts as our Chief Financial Officer concluded that as of January 31, 2024, our disclosure controls and procedures were not effective to ensure that the material information required to be included in our Securities and Exchange Commission reports is acc…

• Under the supervision and with the participation of management, including the President and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting as of April 30, 2023, using the criteria established in ” Internal …

• A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. As …

• 1.We do not have an Audit Committee – While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial statement. Currently the Board of Direc…

Text removed vs the prior filing · source: 10-Q · 2023-12-15

• We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of October 31, 2023. Based on the evaluat…

• There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of October 31, 2023, that occurred during the period that has materially affected, or is reason…