Private company

TRULEUM, INC.

American crude petroleum and natural gas company based in Golden. Summary from the record

Last updated Oct 19, 2026.

Overview

IndustryCrude Petroleum & Natural Gas¹
HeadquartersGolden, Colorado¹
Incorporated inCO²
Business address14143 Denver West Parkway, Suite 100, Golden, Co 80401²
Filer categoryNon-accelerated filer, Smaller reporting company²
Legal formCorporation

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Truleum, Inc. ("our”, "we”, the Company) was incorporated on September 26, 2013 in the State of Colorado for the purpose of purchasing, developing and operating oil and natural gas leases.³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-181.1%Gross margin⁴

-1372.1%Operating margin⁴

-1537.3%Net margin⁴

-26.3%Revenue growth, 2023⁴

Where the money goes

Where each dollar of revenue went, fiscal 2023

Cost of revenueInterest

Cost of revenue63¢$411.1K
Interest37¢$241.7K

Out of $146.3K in revenue.⁴ The company lost money this year.

Financial statements

Revenue⁵⁶⁷⁸⁹⁴$146.3K in 2023+3171% since 2017

Gross profit⁵⁶⁷⁸⁹⁴-$264.9K in 2023+20871% since 2017

Operating income⁵⁶⁷⁸⁹⁴-$2.0M in 2023+2180% since 2017

Net income⁵⁶⁷⁸⁹⁴-$2.2M in 2023+756% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Revenue	$4.5K⁵	$2.3K⁶	$4.3K⁷	$1.2K⁸	$3.8K⁹	$198.4K⁴	$146.3K⁴
Cost of revenue	$5.7K⁵	$2.7K⁵	$7.2K⁷	$2.9K⁸	$15.7K⁹	$573.8K⁴	$411.1K⁴
Gross profit	-$1.3K⁵	-$332⁶	-$3.0K⁷	-$1.7K⁸	-$11.8K⁹	-$375.3K⁴	-$264.9K⁴
Operating expenses					$894.5K⁹	$1.3M⁴	$1.7M⁴
Operating income	-$88.0K⁵	-$1.2M⁶	-$863.4K⁷	-$1.7M⁸	-$906.3K⁹	-$1.7M⁴	-$2.0M⁴
Interest	$23.3K⁵	$76.5K⁶	$61.7K⁷	$238.9K⁸	$131.1K⁹	$224.1K⁴	$241.7K⁴
Income tax	$0¹³			$0⁸	$0⁹	$0⁴	$0⁴
Net income	-$262.6K⁵	-$1.5M⁶	-$432.9K⁷	-$2.0M⁸	-$1.1M⁹	-$1.7M⁴	-$2.2M⁴
Earnings per share		-$0.09⁶	-$0.02⁷	-$0.11⁷	-$0.06⁹	-$0.09⁴	-$0.10⁴
Earnings per share (diluted)		-$0.09⁶	-$0.05⁷	-$0.11⁷	-$0.06⁹	-$0.09⁴	-$0.10⁴
Shares (weighted, diluted)					18.3M shares⁹	19.8M shares⁴	21.7M shares⁴

Total assets⁵⁶⁷⁸⁹⁴$2.0M in 2023+84030% since 2017

Total liabilities⁵⁶⁷⁸⁹⁴$4.7M in 2023+1586% since 2017

Shareholders’ equity⁶⁷⁸⁹⁴-$2.7M in 2023+889% since 2017

Cash⁵⁶$240 in 2018−77% since 2017

Long-term debt⁹⁴$3.5M in 2023+38% since 2022

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Cash	$1.1K⁵	$240⁶
Current assets	$2.3K⁵	$240⁶		$30.0K⁸	$24.0K⁹	$208.5K⁴	$115.8K⁴
Property, plant and equipment					$0⁹	$68.4K⁹
Total assets	$2.3K⁵	$10.2K⁶	$10.0K⁷	$100.0K⁸	$169.8K⁹	$1.8M⁴	$2.0M⁴
Current liabilities	$256.6K⁵	$647.9K⁶	$453.5K⁷	$2.2M⁸	$2.6M⁹	$1.9M⁴	$3.4M⁴
Long-term debt						$2.5M⁹	$3.5M⁴
Total liabilities	$280.1K⁵	$739.7K⁶	$567.4K⁷	$2.3M⁸	$2.8M⁹	$3.1M⁴	$4.7M⁴
Retained earnings					-$5.4M⁹	-$7.1M⁴	-$9.3M⁴
Shareholders’ equity	-$277.8K⁶	-$729.5K⁷	-$557.4K⁸	-$2.2M⁹	-$2.6M⁴	-$1.3M⁴	-$2.7M⁴
Shares outstanding	17.0M shares⁵	17.2M shares⁶	17.8M shares⁷	18.1M shares⁸	18.8M shares⁹	21.7M shares⁴	21.7M shares⁴

Cash from operations⁵⁶⁷⁸⁹⁴-$683.8K in 2023+767% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Cash from operations	-$78.9K⁵	-$64.8K⁶	-$152.0K⁷	-$109.4K⁸	-$356.9K⁹	-$1.5M⁴	-$683.8K⁴
Stock-based compensation					$262.0K⁹	$308.7K⁴	$485.0K⁴
Cash from investing					-$95.8K⁹	-$1.4M⁴	-$363.8K⁴
Cash from financing					$452.9K⁹	$2.9M⁴	$957.5K⁴

Compare TRULEUM, INC. with another company

Leadership

Who has led TRULEUM, INC., and when. Pick a name to see everywhere that person has worked.

President

Jay Leaver2022–2023

Chief financial officer

20202025

PresidentJay Leaver Jun 27, 2022 to Sep 25, 2023¹⁴
Chief financial officerLacie Kellogg Jan 16, 2024 to May 31, 2024¹⁵
Chief financial officerJohn F. Lepin Jan 19, 2022 to Jan 19, 2022¹⁶

Board members and other officers (6)

Board memberIsaac Dietrich Mar 13, 2023 to May 31, 2024¹⁷
Board memberRichard Mark Nummi Jan 19, 2022 to May 31, 2024¹⁸
Board memberMark Allen Timm Nov 9, 2022 to May 31, 2024¹⁹
Board memberJohn F. Lepin Jan 9, 2018 to Jan 19, 2022²⁰
Board memberLacie Kellogg Aug 3, 2018 to May 31, 2024²¹
Board memberRobert J. Flynn Jr. Nov 5, 2018 to May 31, 2024²²

Named in SEC Form D filings

People the company listed in its private-offering notices.

The Related Person on behalf of AEI Acquisition, LLC. AEI Management, Inc. is the managing member of which Harry McMillan, an individual, is executive officer, is beneficial owner of in excess of 88% of common stock prior to the issuances reported.Harry J McMillan named Aug 25, 2022 to Sep 16, 2022²³

Former names

ALPHA ENERGY INCJul 25, 2014 to May 15, 2023²

Filings

97 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 23 major events, 33 insider forms, 1 large holders, 3 private raises, 26 other. The latest 20:

May 1, 202615-12G EDGAR
Apr 27, 20264 EDGAR
Apr 2, 20268-K EDGAR
Mar 31, 2026NT 10-K EDGAR
Nov 19, 2025NT 10-Q EDGAR
Aug 15, 2025NT 10-Q EDGAR
May 30, 20258-K EDGAR
May 15, 2025NT 10-Q EDGAR
Apr 30, 20258-K EDGAR
Apr 1, 2025NT 10-K EDGAR
Mar 13, 2025SEC STAFF ACTION EDGAR
Nov 14, 2024NT 10-Q/A EDGAR
Nov 14, 2024NT 10-Q EDGAR
Oct 4, 20244 EDGAR
Aug 15, 2024NT 10-Q EDGAR
Jul 22, 20248-K EDGAR
Jul 5, 20248-K EDGAR
May 31, 20244 EDGAR
May 31, 20244 EDGAR
May 31, 20244 EDGAR

The 97 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Apr 7, 2026	AEI Acquisition Co LLCDirector	Sale	1,384,100	$0.96	$1.3M	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

AEI Acquisition Co LLCSC 13D, 1 filing Jun 10, 2022²⁴

Money raised

Private offerings the company reported to the SEC on Form D.

Aug 18, 2022Raised $2 million in a private offering of equity Form D: $2.5 million offered in all Form D
Feb 25, 2022Raised $1.1 million in a private offering of debt Form D: $5 million offered in all Form D

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARTRULEUM, INC. filings on SEC EDGAR
2
SEC EDGARTRULEUM, INC. filings on SEC EDGAR
3
SEC EDGARTRULEUM, INC. annual report, Item 1 (Business)
4
SEC EDGARTRULEUM, INC. 10-K for fiscal 2023
5
SEC EDGARTRULEUM, INC. 10-K for fiscal 2017
6
SEC EDGARTRULEUM, INC. 10-K for fiscal 2018
7
SEC EDGARTRULEUM, INC. 10-K for fiscal 2019
8
SEC EDGARTRULEUM, INC. 10-K for fiscal 2020
9
SEC EDGARTRULEUM, INC. 10-K for fiscal 2021
10
SEC EDGARTRULEUM, INC. 10-Q for fiscal 2023
11
SEC EDGARTRULEUM, INC. 10-Q for fiscal 2023
12
SEC EDGARTRULEUM, INC. 10-Q for fiscal 2024
13
SEC EDGARTRULEUM, INC. 10-K for fiscal 2017
14
SEC EDGARJay Leaver, President
15
SEC EDGARLacie Kellogg, Chief financial officer
16
SEC EDGARJohn F. Lepin, Chief financial officer
17
SEC EDGARIsaac Dietrich, Board member
18
SEC EDGARRichard Mark Nummi, Board member
19
SEC EDGARMark Allen Timm, Board member
20
SEC EDGARJohn F. Lepin, Board member
21
SEC EDGARLacie Kellogg, Board member
22
SEC EDGARRobert J. Flynn Jr., Board member
23
SEC EDGARTRULEUM, INC. Form D naming Harry J McMillan
24
SEC EDGARAEI Acquisition Co LLC SC 13D on TRULEUM, INC.