CNRC Reports Q2 2025 Financials Period Ending June 30, 2025; Provides Shareholder Update on Portfolio Companies

Rhea-AI Summary

Surya Oil & Gas Corp. (OTCID: CNRC) reported Q2 2025 financial results and significant corporate updates. The company's Q2 revenue was $3.5M, down from $4.4M year-over-year, while six-month revenue reached $6.6M, up from $4.3M. The company reported a NAV of $0.15 per share.

Major developments include a change of control agreement with Aruna Holdings LLC for 80% control, new board appointments including CEO Hemal Rathod, resumption of operations across 38,000 acres in West Virginia, and uplisting to OTCID Basic Market. The company also licensed Kubera™ technology for enhanced hydrocarbon detection and engaged Harbor Access for investor relations.

Positive

• None.

Negative

• Q2 revenue declined to $3.5M from $4.4M year-over-year
• Q2 earnings decreased to $1.6M from $2.8M year-over-year
• Change in control resulting in 80% ownership transfer may impact existing shareholders
• Significant management restructuring could create transitional uncertainties

CHARLESTON, W.Va., Aug. 15, 2025 /PRNewswire/ -- Surya Oil & Gas Corp. (OTCID: CNRC), ( "SOGC" or the "Company" ) formerly known as Cunningham Natural Resources Corp., today reported results for the second quarter ending June 30, 2025, and provided an update on its portfolio companies.

• Total revenue for three months was $ 3,503,039 vs $ 4,378,799
• Total earnings for three months were $ 1,600,211 vs $ 2,772,965
• Total revenue for six months was $ 6,604,871 vs $ 4,292,940 ,
• Total earnings for six months were $ 2,033,488 vs $ 2,706,961
• Total assets for the period were $ 75,261,456 vs $ 75,334,234
• The Company recorded a net asset value (NAV) of $0.15 per share for Q2 2025

The Company currently provides advisory services to its portfolio companies based on a percentage of assets under management , recognizing revenue on a quarterly basis and accepting payment in the form of securities.

SOGC announced the following corporate updates:

• The Company executed a change of control agreement for the purchase of all Series A Preferred shares by Aruna Holdings LLC, providing at least 80% control of the Company and is accompanied by additional related agreements . The transaction s are expected to be completed in the third quarter.
• The Company agreed to appoint Manish Patel and Hemal Rathod to the Board of Directors joining Frank Kristan who remains a Director. Subsequently , Hemal Rathod was appointed Chief Executive Officer and Michael R. Gavenchak was appointed as President. Ryan Cuningham continues to serve as General Manager of the Company's subsidiary, Cunningham Energy LLC.
• The Company announced the recommencement of field operations across its core acreage of 38,000 acres in West Virginia. Initial work includes road and site development aimed at optimizing production from existing oil wells and for future drilling activity.
• The Company engaged Harbor Access, a strategic investor relations firm known for its work with high-growth and international issuers. This partnership is intended to enhance market visibility, strengthen communication with existing shareholders, and support outreach to investors as the Company advances its expansion strategy.
• The Company upgraded to the OTCID Basic Market from the OTC Pink Current effective July 1, 2025, reflecting the Company's commitment to stronger governance and long-term growth. The OTCID tier requires timely financial disclosures, annual management certification, and ongoing compliance, providing investors with a more transparent platform.
• The Company agreed to license the proprietary Kubera™ technology from Aruna Holdings, LLC 's subsidiary, Surya Energy Services LLC ("Surya"). Surya's Kubera™ technology provides cutting-edge hydrocarbon detection with significantly greater accuracy and efficiency than conventional methods.
• Worldwide Diversified Holdings, Inc is pursuing a potential acquisition of a public trading company to facilitate public trading of its common shares along with the filing of Form 15c211.

About Surya Oil & Gas Corp.
Surya Oil & Gas Corp. (OTCID: CNRC), is a portfolio company of Aruna Holdings LLC, focused on advancing traditional oil and gas development alongside strategic investments in the energy and digital transition. With a global investment mandate, Surya Oil & Gas prioritizes sustainability, operational efficiency, and long-term value creation.

About Surya Energy Services, LLC
Surya Energy Services LLC, a wholly owned subsidiary of Aruna Holdings LLC, operates with next generation carbon neutral oil and gas survey and production networks. Surya developed and operates its own proprietary technology under the KUBERA™ trademark.

About Aruna Holdings LLC
Aruna Holdings LLC owns an 80% interest in Surya Oil & Gas Corp. Aruna maintains a diverse portfolio of affiliated business interests across the health and wellness, real estate, hospitality, oil and gas, alternative energy, and data center development sectors.

Corporate Contact:
Hemal Rathod, Chief Executive Officer
Surya Oil & Gas Corp.

Investor and Media Contact:
Investor Relations
Jonathan.Paterson@harbor-access.com
Tel +1 475 477 9401

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SOURCE Surya Oil & Gas Corp.

FAQ

What were CNRC's Q2 2025 financial results?

CNRC reported Q2 2025 revenue of $3.5M (down from $4.4M YoY) and earnings of $1.6M (down from $2.8M YoY). Six-month revenue was $6.6M, up from $4.3M YoY.

What is the significance of CNRC's change of control agreement with Aruna Holdings?

Aruna Holdings LLC will acquire all Series A Preferred shares, giving them 80% control of CNRC. The transaction is expected to complete in Q3 2025.

Who are the new key executives at CNRC as of Q2 2025?

Hemal Rathod was appointed as CEO, Michael R. Gavenchak as President, and Manish Patel and Hemal Rathod joined the Board of Directors.

What operational developments did CNRC announce for its West Virginia assets?

CNRC announced resumption of field operations across 38,000 acres in West Virginia, including road and site development for optimizing existing oil wells and future drilling.

What is CNRC's current stock market status and NAV?

CNRC upgraded to the OTCID Basic Market from OTC Pink Current effective July 1, 2025, and reported a NAV of $0.15 per share for Q2 2025.