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ERNEST ENERGY, INC. AND SUBSIDIARIES <br />CONSOLIDATED BALANCE SHEET <br />DECEMBER 31, 2023 <br /> <br />See independent accountants’ review report and notes to consolidated financial statements. <br />3 <br />CURRENT LIABILITIES: <br />Accounts payable 1,071,884$ <br />Contract liabilities, including conditional retainage of $95,775 10,921 <br />Accrued expenses and other current liabilities 213,439 <br />Total Current Liabilities 1,296,244 <br />LONG-TERM LIABILITIES: <br />Employee stock option plan 3,736 <br />Contingent liabilities 245,000 <br />Total Long-Term Liabilities 248,736 <br />Total Liabilities 1,544,980 <br />CONTINGENCIES <br />EQUITY: <br />Common stock, $0.00001 par value; 17,000,000 shares authorized; <br /> 9,033,891 issued and outstanding 2,595 <br />Preferred stock: <br />Series Seed 1 - $0.00001 par value; 2,835,392 shares authorized, <br />issued and outstanding 28 <br />Series Seed 2 - $0.00001 par value; 1,845,572 shares authorized <br />issued and outstanding 18 <br />Additional paid-in capital 6,695,454 <br />Retained earnings (accumulated deficit) and members' equity (778,611) <br />Total Equity 5,919,484 <br />TOTAL LIABILITIES AND EQUITY 7,464,464$ <br />LIABILITIES AND EQUITY