The company completed its business combination with Tar Sands Holdings II, LLC (TSII) on December 12, 2025, making TSII a wholly-owned subsidiary. Primary assets include approximately 760 acres of land at Asphalt Ridge in northeastern Utah, a mine facility, a large-scale mining permit, a refinery, and processing infrastructure. The current strategy focuses on leveraging existing assets for contracted feedstock processing and refining for Shell Trading US Company (STUSCO) and other potential customers, rather than near-term oil sands development. Over $60 million has been historically invested in the facility, with prior commissioning demonstrating commercial-scale oil extraction feasibility. An exclusive 7-year Crude Oil Supply, Offtake, and Processing Agreement was entered into with STUSCO on May 7, 2025, with automatic two-year renewal periods. The company is responsible for the restoration and operation of the facility at its own cost and risk, subject to conditions precedent including construction completion and regulatory approvals. The expected In-Service Date for the Facility is during the second half of 2027. As of December 31, 2025, there were 6,575,561 shares of Common Stock issued and outstanding, with no Preferred Stock outstanding. Warrants entitle holders to purchase one share of Common Stock at $11.50 per share, exercisable 30 days after the business combination (January 11, 2026) and expiring five years after (December 12, 2030). The company reported a significant net loss of $20,882,176 for the year ended December 31, 2025, compared to $4,822,902 in 2024. A working capital deficit of $35,499,089 was reported as of December 31, 2025. Cash and cash equivalents stood at $372,165 as of December 31, 2025. Approximately $5.7 million in financing has been raised since December 31, 2025, through sales of Series A Convertible Preferred Stock to Creto IRRX PIPE Investment, LLC. Management intends to finance operations through further debt and equity financing during 2026. The independent auditor's report includes an explanatory paragraph expressing substantial doubt about the company's ability to continue as a going concern. A material weakness in internal control over financial reporting was identified concerning the calculation and payment of funds from the Trust Account to redeeming shareholders. A legal suit filed by Tyr Energy Utah Logistics, LLC against the company was dropped on December 17, 2025. The company has not paid any cash dividends to date and does not intend to in the foreseeable future. The company is classified as an emerging growth company and a smaller reporting company. The cybersecurity risk management program is in early stages of development, with planned enhancements as operations scale.