CoJax Oil & Gas Corp Files 2023 Annual Report

TL;DR

<b>CoJax Oil & Gas Corp has submitted its 2023 10-K filing, detailing financial performance and corporate structure.</b>

AI Summary

CoJax Oil & Gas Corp (CJAX) filed a Annual Report (10-K) with the SEC on March 26, 2024. CoJax Oil & Gas Corp filed its 10-K report for the fiscal year ending December 31, 2023. The company is classified under SIC code 1311 for Crude Petroleum & Natural Gas. CoJax Oil & Gas Corp is incorporated in Virginia with its principal business address in Arlington. The filing covers the fiscal year 2023, with data points for 2023, 2022, and 2021. Key financial elements such as preferred stock, common stock, additional paid-in capital, and retained earnings are detailed for the reported periods.

Why It Matters

For investors and stakeholders tracking CoJax Oil & Gas Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of CoJax Oil & Gas Corp's financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed breakdown of financial elements and corporate information allows for a thorough understanding of the company's position within the Crude Petroleum & Natural Gas industry.

Risk Assessment

Risk Level: low — CoJax Oil & Gas Corp shows low risk based on this filing. The filing is a standard 10-K annual report, indicating routine disclosure rather than immediate significant events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand CoJax Oil & Gas Corp's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-03-26 — Filing Date (Date the 10-K was filed)
• 1642612 — Value 1 (Associated with fiscal year 2023)
• 1627962 — Value 2 (Associated with fiscal year 2023)
• 6278331 — Value 3 (Associated with fiscal year 2023)
• 41209 — Value 4 (Associated with fiscal year 2023)

Key Players & Entities

• CoJax Oil & Gas Corp (company) — Filer of the 10-K report
• 1311 (dollar_amount) — Standard Industrial Classification code for Crude Petroleum & Natural Gas
• Virginia (company) — State of incorporation
• Arlington (company) — City of business address
• Taxodium Energy LLC (company) — Mentioned in relation to common stock transactions
• Barrister Energy LLC (company) — Mentioned in relation to year-end balances
• Paycheck Protection Program (company) — Mentioned in relation to specific dates

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-26: Filing Date — The date CoJax Oil & Gas Corp submitted its 10-K report to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview for CoJax Oil & Gas Corp.)

SIC Code

Standard Industrial Classification code, used to classify businesses based on their primary activity. (Indicates CoJax Oil & Gas Corp's industry focus on Crude Petroleum & Natural Gas.)

Key Financial Figures

• $0.01 — Section 12(g) of the Act: Common Stock, $0.01 par value per share Indicate by check
• $2,700,000 — ing, LLC ("COP") in principal amount of $2,700,000, which was discharged on November 16, 2

Filing Documents

• g084062_10k.htm (10-K) — 1120KB
• g084062_ex23-1.htm (EX-23.1) — 4KB
• g084062_ex31-1.htm (EX-31.1) — 11KB
• g084062_ex31-2.htm (EX-31.2) — 10KB
• g084062_ex32-1.htm (EX-32.1) — 5KB
• g084062_ex32-2.htm (EX-32.2) — 5KB
• g084062_ex99-2.htm (EX-99.2) — 140KB
• img001_v1.jpg (GRAPHIC) — 71KB
• img002_v1.jpg (GRAPHIC) — 6KB
• img003_v1.jpg (GRAPHIC) — 42KB
• img004_v1.jpg (GRAPHIC) — 10KB
• img005_v1.jpg (GRAPHIC) — 9KB
• 0001753926-24-000615.txt (&nbsp;) — 4809KB
• cjax-20231231.xsd (EX-101.SCH) — 36KB
• cjax-20231231_cal.xml (EX-101.CAL) — 41KB
• cjax-20231231_def.xml (EX-101.DEF) — 96KB
• cjax-20231231_lab.xml (EX-101.LAB) — 267KB
• cjax-20231231_pre.xml (EX-101.PRE) — 200KB
• g084062_10k_htm.xml (XML) — 537KB

Business

Business 9 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 28 Item 2.

Properties

Properties 29 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 30 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F 39 - F 59 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 60 Item 9A.

Controls and Procedures

Controls and Procedures 60 Item 9B. Other Information 62 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III Item 10. Directors, Executive Officers, and Corporate Governance 63 Item 11.

Executive Compensation

Executive Compensation 65 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 72 Item 13. Certain Relationships and Related Transactions, and Director Independence 73 Item 14. Principal Accountant Fees and Services 74 PART IV Item 15. Exhibits, Financial Statement Schedules 76 Item 16. 10-K Summary 77

SIGNATURES

SIGNATURES 78 3 FORWARD-LOOKING This Annual Report contains forward-looking in our actual results and reflect the current view about future events and are based on our current expectations and assumptions regarding our business, potential target businesses, the economy, and other future conditions. Such statements are generally accompanied by words such as "may," "should," "expect," "believe," "plan," "anticipate," "could," "intend," "target," "goal," "project," "contemplate," "believe," "estimate," "predict," "potential," "will," or "continue" or the negative of these terms or other similar expressions. Any forward-looking statements contained or incorporated by reference in this Annual Report speak only as of the date on which we make them and are based upon our historical performance and on current plans, estimates, and expectations. Forward-looking statements contained or incorporated by reference herein include or may include, but are not limited to, statements about: our business strategy; our plans, objectives, expectations, and intentions; our future operating results and future operating results of Barrister as a wholly-owned subsidiary of CoJax; the competitive nature of the industry in which we will conduct our business; crude oil and natural gas commodity prices; demand for oil; the impact of adverse weather conditions and unexpected events like the COVID-19 pandemic and other pandemics or epidemics; the effects of government regulation and changes in that regulation; legal proceedings, liability claims, and effect of external investigations; the effect of a loss of, or the financial distress of, one or more key customers of our future, proposed oil production; our ability to obtain or renew customer or supply contracts; the effect of a loss of, or interruption in operations of, one or mo

View Full Filing

View this 10-K filing on SEC EDGAR