Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 22,021,000 $ 16,556,000
Restricted cash 0 7,742,000
Accounts receivable, net 389,520,000 447,202,000
Inventories 12,821,000 12,653,000
Prepaid expenses 8,982,000 12,181,000
Other current assets 554,000 591,000
Total current assets 433,898,000 496,925,000
Property, plant and equipment, net 109,232,000 113,905,000
Sand reserves 58,530,000 58,528,000
Operating lease right-of-use assets 7,990,000 9,551,000
Goodwill 9,214,000 9,214,000
Deferred income tax asset 1,204,000 1,844,000
Other non-current assets 8,002,000 8,512,000
Total assets 628,070,000 698,479,000
CURRENT LIABILITIES    
Accounts payable 21,506,000 27,508,000
Accrued expenses and other current liabilities 34,117,000 87,954,000
Current operating lease liability 5,212,000 5,771,000
Income taxes payable 62,482,000 61,320,000
Total current liabilities 123,317,000 182,553,000
Long-term debt from related parties 45,630,000 42,809,000
Deferred income tax liabilities 597,000 628,000
Long-term operating lease liability 2,617,000 3,534,000
Asset retirement obligations 4,162,000 4,140,000
Other long-term liabilities 3,483,000 4,715,000
Total liabilities 179,806,000 238,379,000
COMMITMENTS AND CONTINGENCIES (Note 19)
EQUITY    
Common stock, $0.01 par value, 200,000,000 shares authorized, 48,008,319 and 47,941,652 issued and outstanding at March 31, 2024 and December 31, 2023 480,000 479,000
Additional paid in capital 539,776,000 539,558,000
Accumulated deficit (88,128,000) (76,317,000)
Accumulated other comprehensive loss (3,864,000) (3,620,000)
Total equity 448,264,000 460,100,000
Total liabilities and equity 628,070,000 698,479,000
Nonrelated Party    
CURRENT LIABILITIES    
Accrued expenses and other current liabilities 34,117,000 86,713,000
Related Parties    
CURRENT ASSETS    
Accounts receivable, net 100,000 0
CURRENT LIABILITIES    
Accounts payable 100,000 0
Accrued expenses and other current liabilities 0 1,241,000
Long-term debt from related parties $ 45,630,000 $ 42,809,000