Circle Energy, Inc. Files Annual Report on Form 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>Circle Energy, Inc. has filed its 2023 annual report (10-K) detailing its operations in the Crude Petroleum & Natural Gas sector.</b>

AI Summary

Circle Energy, Inc./NV (CRCE) filed a Annual Report (10-K) with the SEC on March 1, 2024. Circle Energy, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Nevada and its principal executive offices are located in Tulsa, Oklahoma. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. Circle Energy, Inc. is registered under the SIC code 1311 for Crude Petroleum & Natural Gas. The company's common stock is registered under Section 12(g) of the Exchange Act.

Why It Matters

For investors and stakeholders tracking Circle Energy, Inc./NV, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Circle Energy's financial performance, operational activities, and risk factors for the 2023 fiscal year, crucial for investors to assess the company's health and future prospects. As a company operating in the Crude Petroleum & Natural Gas industry, the details within this filing are important for understanding its position within a volatile market and its compliance with regulatory requirements.

Risk Assessment

Risk Level: low — Circle Energy, Inc./NV shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative financial or operational news, indicating a routine disclosure.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements, management discussion, and risk factors to make informed investment decisions regarding Circle Energy, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-01 — Filing Date (Filed as of date)
• 1311 — SIC Code (Standard Industrial Classification for Crude Petroleum & Natural Gas)
• 0001911467 — Central Index Key (Company identifier)

Key Players & Entities

• Circle Energy, Inc./NV (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240301 (date) — Filed as of date
• 0001911467 (company) — Central Index Key
• 1311 (industry) — Standard Industrial Classification
• NV (jurisdiction) — State of incorporation
• 874125972 (identifier) — IRS Number
• 8211 E REGAL PLACE TULSA OK 74133 (address) — Business Address

FAQ

Industry Context

Circle Energy, Inc. operates within the Crude Petroleum & Natural Gas industry, a sector characterized by commodity price volatility and significant regulatory oversight.

Regulatory Implications

Companies in the oil and gas sector are subject to various environmental, safety, and operational regulations from federal and state agencies.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and operational highlights for the fiscal year 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing Circle Energy, Inc.
3. Compare Circle Energy's performance metrics with industry benchmarks and previous fiscal years.

Key Dates

• 2023-12-31: Fiscal Year End — The end date for the reporting period covered by the 10-K.
• 2024-03-01: Filing Date — The date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings which would have covered earlier periods.

Key Financial Figures

• $0.001 — 2(g) of the Exchange Act: Common Stock, $0.001 par value. Indicate by check mark if t
• $1.50 — stock price on that day on the OTCQB of $1.50 per share, was $ 495,000 . As of Febr

Filing Documents

• crcl-20231231.htm (10-K) — 510KB
• crcl_ex14z1.htm (EX-14.1) — 11KB
• crcl_ex31z1.htm (EX-31.1) — 7KB
• crcl_ex31z2.htm (EX-31.2) — 7KB
• crcl_ex32z1.htm (EX-32.1) — 3KB
• crcl_ex32z2.htm (EX-32.2) — 3KB
• 0001096906-24-000281.txt (&nbsp;) — 2244KB
• crcl-20231231_cal.xml (EX-101.CAL) — 15KB
• crcl-20231231_def.xml (EX-101.DEF) — 36KB
• crcl-20231231_lab.xml (EX-101.LAB) — 108KB
• crcl-20231231_pre.xml (EX-101.PRE) — 106KB
• crcl-20231231.xsd (EX-101.SCH) — 28KB
• crcl-20231231_htm.xml (XML) — 194KB

Business

Business 5 Item 1A:

Risk Factors

Risk Factors 12 Item 1B: Unresolved Staff Comments 20 Item 1C: C yber Security 20 Item 2:

Properties

Properties 21 Item 3:

Legal Proceedings

Legal Proceedings 22 Item 4: Mine Safety Disclosures 22 PART II Item 5: Market for Registrant's Common Equity, Related Stockholder Matters and Issued Purchases of Equity Securities 23 Item 6:

Selected Financial Data

Selected Financial Data 24 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 24 Item 7A:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 8:

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 26 Item 9: Changes in and Disagreement's With Accountants on Accounting and Financial Disclosure 26 Item 9A:

Controls and Procedures

Controls and Procedures 27 Item 9B: Other Information 27 PART III Item 10: Directors, Executive Officers and Corporate Governance 28 Item 11:

Executive Compensation

Executive Compensation 29 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 29 Item 13: Certain Relationships and Related Transactions, and Director Independence 30 Item 14: Principal Accounting Fees and Services 31 PART IV Item 15: Exhibits, Financial Statement Schedules 32 3

Forward Looking Statements

Forward Looking Statements This Annual Report on Form 10-K (herein, "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this Annual Report regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this Annual Report, the words "could," "would," "should," "believe," "anticipate," "intend," "estimate," "expect," "project" or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. All forward-looking statements speak only as of the date of this Annual Report. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this Annual Report are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved. We are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors that could cause actual results to differ materially from those contemplated. Such factors include: declines or volatility in the prices we receive for our oil and natural gas; our ability to raise additional capital to fund future capital expenditures; our ability to generate sufficient cash flow from operations, borrowings or other sources to enable us to fully develop and produce our oil and natural gas properties; general economic conditions, whether internationally, nationally or in the regional and local market areas in which we do business; risks associated with drilling, including completion risks, cost overruns and the drilling o

: Business

Item 1: Business General Circle Energy, Inc., a Nevada corporation, (the " Company, " or " Circle, " " we ," " us ," " our ," or similar terms) was formed on December 7, 2021, for the purpose of acquiring oil and gas companies, projects, or properties and partnering with an established management team in the oil and gas industry. We have acquired an interest in our first oil and gas property and entered into a joint venture agreement for further development of the area of mutual interest. Our plans include first to explore and expand our acreage position with our joint venture partner and second to devise a development plan, partnering with industry players and associates to expand and generate growth of our company. We have not established specific criteria for additional projects but will rely on the experience of our management team in identifying and negotiating the purchase of potential oil and gas companies, projects, or properties. Our Mission Circle's mission is to deliver competitive and sustainable returns to its shareholders by acquiring, developing, exploring for, and commercializing oil and natural gas resources vital to the world's health and welfare. Our Business Strategy Circle was formed with the intent of establishing an operating company from which to pursue opportunities to partner with an established management team, providing that team with access to the public market and with management's own extensive experience and with the benefit of its expansive relationships. Either in conjunction with or subsequent to uniting with a top-notch management team, Circle intends to acquire operatorship of existing oil and gas properties it believes have significant remaining development potential. Management has decades of involvement in the oil and natural gas industry and has gained vast knowledge and experience in all phases of establishing and growing a company, including assessing management team potential and evaluating and acquiring assets.

View Full Filing

View this 10-K filing on SEC EDGAR