Risk Factors Update Summary

• The Company submitted quarterly reports to the NYSE following SEC filings, with stockholders' equity decreasing from $29,189,192 to $24,297,733.
• Decreases in availability and quality, or increases in cost, of raw materials could significantly impact earnings. Recent trends resulted in higher costs and shortages.
• Possible impairment due to full cost accounting method, with a ceiling amount of present value at 10% discount rate. Exceeding this may lead to impairment recognition.
• Future success depends on economically finding or acquiring additional oil and gas reserves.
• Inability to obtain quality materials and components may lead to additional costs, delays, and harm to reputation.
• Failure to protect intellectual property rights could lead to unauthorized use, reducing competitive advantage.
• Cybersecurity breaches may adversely affect business operations and expose to litigation and financial risks.
• The Company authorized 500,000 shares of common stock and 10,000,000 shares of preferred stock.
• Dependence on oil and gas transportation and processing facilities for marketability of assets.
• Changes in government policies, such as tax increases, could negatively impact overall growth and product sales.
• Lack of industry and geographical diversification increases sensitivity to regional economic developments.
• Leasehold acreage expiration risk unless production is established or leases extended.
• Inadequate protection of intellectual property could result in costly defense, damages, and diversion of management attention.
• The Company had 148,940,000 shares of common stock outstanding, with changes in designated preferred stock shares.
• Product liability claims could result in costly defense, management diversion, and potential liabilities.
• Risk related to investments in new technologies, facing difficulties in commercialization and high failure rates.
• The Company may experience future dilution due to the issuance of common stock upon conversion.
• Failure to meet ESG goals could lead to stockholder reaction and impact the company's reputation.
• The Company's Board implemented a robust cybersecurity risk management strategy to safeguard information.
• The Company's management is responsible for identifying and managing cybersecurity risks and incidents.
• The Company employs third-party providers for IT operations, including incident prevention and detection software.