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ERNEST ENERGY, INC. AND SUBSIDIARIES
<br />SUPPLEMENTARY INFORMATION
<br />CONSOLIDATING BALANCE SHEET
<br />DECEMBER 31, 2023
<br />
<br />See independent accountants’ review report on supplementary information.
<br />26
<br />Consolidated Eliminations Ernest Energy, Inc. Electrik Pros, LLC Airsmith Pros, Inc. HMO Energy, Inc.
<br />CURRENT LIABILITIES:
<br />Accounts payable 1,071,884$ 0$ 88,767$ 974,627$ 8,490$ 0$
<br />Contract liabilities, including conditional retainage of $95,775 10,921 0 0 10,921 0 0
<br />Accrued expenses and other current liabilities 213,439 0 0 213,439 0 0
<br />Total Current Liabilities 1,296,244 0 88,767 1,198,987 8,490 0
<br />LONG-TERM LIABILITIES:
<br />Intercompany payables 0 (1,897,482) 360,793 1,524,764 11,925 0
<br />Employee stock option plan 3,736 0 3,736 0 0 0
<br />Contingent liabilities 245,000 0 147,500 0 0 97,500
<br />Total Long-Term Liabilities 248,736 (1,897,482) 512,029 1,524,764 11,925 97,500
<br />Total Liabilities 1,544,980 (1,897,482) 600,796 2,723,751 20,415 97,500
<br />CONTINGENCIES
<br />EQUITY (DEFICIT):
<br />Common stock, $0.00001 par value; 17,000,000 shares authorized;
<br />9,033,891 shares issued and outstanding 2,595 0 2,595 0 0 0
<br />Preferred stock:
<br />Series Seed 1 - $0.00001 par value: 2,835,392 shares authorized,
<br />issued and outstanding 28 0 28 0 0 0
<br />Series Seed 2 - $0.00001 par value; 1,845,572 shares authorized,
<br />issued and outstanding 18 0 18 0 0 0
<br />Additional paid-in capital 6,695,454 (1,400,000) 6,695,454 1,400,000 0 0
<br />Retained earnings (accumulated deficit) and members' equity (778,611) 0 (1,052,496) 239,697 (12,860) 47,048
<br />Total Equity (Deficit)5,919,484 (1,400,000) 5,645,599 1,639,697 (12,860) 47,048
<br />TOTAL LIABILITIES AND EQUITY (DEFICIT)7,464,464$ (3,297,482)$ 6,246,395$ 4,363,448$ 7,555$ 144,548$
<br />LIABILITIES AND EQUITY (DEFICIT)
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