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Tamboran Resources Corp
Companies
"Tax"
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Tables in SEC filings
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Note | September 30, 2024 | June 30, 2024 | |||
ASSETS | Current assets | Cash and cash equivalents | $74,042,004 | $74,745,897 | |
Trade and other receivables: | Joint interest billing | 3,096,440 | 10,298,322 | ||
ATO receivable | 1,471,724 | 700,115 | |||
Other tax receivables | 10,124 | 11,514 | |||
Assets held for sale | 3 | 7,990,000 | 8,366,000 | ||
Prepaid expenses and other current assets | 3,350,342 | 3,209,033 | |||
Total current assets | 89,960,634 | 97,330,881 | |||
Natural gas properties, successful efforts method: | Unproved properties | 3 | 259,656,933 | 230,119,448 | |
Assets under construction - natural gas equipment | 3 | 10,411,399 | 7,542,064 | ||
Property, plant and equipment, net | 3 | 74,792 | 102,244 | ||
Operating lease right-of-use assets | 4 | 1,019,104 | 962,052 | ||
Finance lease right-of-use assets | 4 | 18,164,738 | 20,697,452 | ||
Prepaid expenses and other non-current assets | 1,932,677 | 1,889,890 | |||
Total non-current assets | 291,259,643 | 261,313,150 | |||
TOTAL ASSETS | $381,220,277 | $358,644,031 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | Current liabilities | Accounts payable and accrued expenses | 5 | $16,125,305 | $14,832,599 |
Current portion of operating lease obligations | 4 | 360,801 | 397,999 | ||
Current portion of finance lease obligations | 4 | 18,220,258 | 12,767,400 | ||
Total current liabilities | 34,706,364 | 27,997,998 | |||
Operating lease obligations | 4 | 725,571 | 587,250 | ||
Finance lease obligations | 4 | 9,556,380 | 14,141,713 | ||
Asset retirement obligations | 6 | 9,091,902 | 8,140,992 | ||
Other non-current liabilities | 98,772 | 90,378 | |||
Total non-current liabilities | 19,472,625 | 22,960,333 | |||
Total liabilities | 54,178,989 | 50,958,331 | |||
Commitments and contingencies (Note 11) | |||||
Stockholders’ equity | Common stock, $0.001 par value, 10,000,000,000 and unlimited common stock authorized; 14,224,274 and 13,915,524 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively. | 7 | 14,224 | 13,915 | |
Additional paid-in capital | 412,654,014 | 404,594,023 | |||
Accumulated other comprehensive loss | (792,014) | (11,512,975) | |||
Accumulated deficit | (136,274,345) | (130,379,771) | |||
Total Tamboran Resources Corporation stockholders’ equity | 275,601,879 | 262,715,192 | |||
Noncontrolling interest | 51,439,409 | 44,970,508 | |||
Total stockholders’ equity | 327,041,288 | 307,685,700 | |||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $381,220,277 | $358,644,031 |
Three months ended September 30, | |||
2024 | 2023 | ||
Numerator: | Net loss after income tax attributable to Tamboran Resources Corporation stockholders | $(5,894,574) | $(3,189,698) |
Denominator: | Weighted average number of common stock outstanding, basic and diluted | 14,124,788 | 8,486,578 |
Net loss per share, basic and diluted | $(0.417) | $(0.376) |
Fiscal Years Ended June 30, | ||||||||
2024 | 2023 | |||||||
Audit fees | $ | 1,373,064 | $ | 102,227 | ||||
Audit-related fees | $ | 11,932 | — | |||||
Tax fees | — | $ | 5,564 | |||||
All other fees | $ | 531,567 | $ | 3,435 | ||||
Total fees | $ | 1,916,564 | $ | 111,276 |
For the years ended June 30, | ||||||||
2024 | 2023 | |||||||
Loss before income tax expense | $ | (23,850,769) | $ | (32,195,616) | ||||
Tax at the Australian statutory rate of 30% (2023: 30%) | (7,155,231) | (9,658,685) | ||||||
Permanent differences | 173,863 | 3,342,216 | ||||||
Earnings in jurisdictions taxed at rates different from the statutory tax rate | 236,616 | 180,269 | ||||||
Valuation allowance recognized | 6,744,752 | 6,136,200 | ||||||
Income tax expense | $ | — | $ | — | ||||
June 30, | ||||||||||||
Note | 2024 | 2023 | ||||||||||
ASSETS | ||||||||||||
Current assets | ||||||||||||
Cash and cash equivalents | $ | 74,745,897 | $ | 6,426,306 | ||||||||
Restricted cash | — | 629,830 | ||||||||||
Trade and other receivables: | ||||||||||||
Joint Interest Billing | 10,298,322 | — | ||||||||||
ATO Receivable | 700,115 | 821,979 | ||||||||||
Other Tax Receivables | 11,514 | 7,774 | ||||||||||
Assets held for sale | 4 | 8,366,000 | 8,818,509 | |||||||||
Prepaid expenses and other current assets | 3,209,033 | 317,634 | ||||||||||
Total current assets | 97,330,881 | 17,022,032 | ||||||||||
Natural gas properties, successful efforts method: | ||||||||||||
Unproved properties | 4 | 230,119,448 | 163,385,971 | |||||||||
Assets under construction - natural gas equipment | 4 | 7,542,064 | — | |||||||||
Property, plant and equipment, net | 4 | 102,244 | 197,571 | |||||||||
Operating lease right-of-use assets | 5 | 962,052 | 459,113 | |||||||||
Finance lease right-of-use assets | 5 | 20,697,452 | — | |||||||||
Prepaid expenses and other non-current assets | 1,889,890 | 1,788,168 | ||||||||||
Total non-current assets | 261,313,150 | 165,830,823 | ||||||||||
TOTAL ASSETS | $ | 358,644,031 | $ | 182,852,855 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||
Current liabilities | ||||||||||||
Accounts payable and accrued expenses | 6 | $ | 14,832,599 | $ | 14,471,663 | |||||||
Current portion of operating lease obligations | 5 | 397,999 | 280,962 | |||||||||
Current portion of finance lease obligation | 5 | 12,767,400 | — | |||||||||
Total current liabilities | 27,997,998 | 14,752,625 | ||||||||||
Operating lease obligations | 5 | 587,250 | 198,743 | |||||||||
Finance lease obligation | 5 | 14,141,713 | — | |||||||||
Asset retirement obligations | 7 | 8,140,992 | 7,182,739 | |||||||||
Other non-current liabilities | 90,378 | 137,802 | ||||||||||
Total non-current liabilities | 22,960,333 | 7,519,284 | ||||||||||
Total liabilities | 50,958,331 | 22,271,909 | ||||||||||
Commitments and contingencies (Note 13) | ||||||||||||
Stockholders’ equity | ||||||||||||
Common stock, $0.001 par value; 10,000,000,000 and unlimited common stock authorized; 13,915,524 and 7,080,054 common stock issued and outstanding as at June 30, 2024 and 2023, respectively | 9 | 13,915 | 7,080 | |||||||||
Additional paid-in capital | 404,594,023 | 259,298,821 | ||||||||||
Accumulated other comprehensive loss | (11,512,975) | (11,310,125) | ||||||||||
Accumulated deficit | (130,379,771) | (108,461,300) | ||||||||||
Total Tamboran Resources Corporation stockholders’ equity | 262,715,192 | 139,534,476 | ||||||||||
Noncontrolling interest | 44,970,508 | 21,046,470 | ||||||||||
Total stockholders’ equity | 307,685,700 | 160,580,946 | ||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 358,644,031 | $ | 182,852,855 | ||||||||