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Private company

TRULEUM, INC.

TRULEUM, INC. is an American crude petroleum and natural gas company based in Golden.1

Last updated Oct 21, 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 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
0$50.0K$100.0K$150.0K$200.0K2017: $4.5K$4.5K20172018: $2.3K$2.3K2018−48%2019: $4.3K$4.3K2019+82%2020: $1.2K$1.2K2020−72%2021: $3.8K$3.8K2021+215%2022: $198.4K$198.4K2022+5069%2023: $146.3K$146.3K2023−26%
Gross profit567894-$264.9K in 2023+20871% since 2017
-$400.0K-$300.0K-$200.0K-$100.0K02017: -$1.3K-$1.3K20172018: -$332-$3322018−74%2019: -$3.0K-$3.0K2019+792%2020: -$1.7K-$1.7K2020−43%2021: -$11.8K-$11.8K2021+596%2022: -$375.3K-$375.3K2022+3077%2023: -$264.9K-$264.9K2023−29%
Operating income567894-$2.0M in 2023+2180% since 2017
-$3.0M-$2.0M-$1.0M02017: -$88.0K-$88.0K20172018: -$1.2M-$1.2M2018+1221%2019: -$863.4K-$863.4K2019−26%2020: -$1.7M-$1.7M2020+101%2021: -$906.3K-$906.3K2021−48%2022: -$1.7M-$1.7M2022+84%2023: -$2.0M-$2.0M2023+20%
Net income567894-$2.2M in 2023+756% since 2017
-$3.0M-$2.0M-$1.0M02017: -$262.6K-$262.6K20172018: -$1.5M-$1.5M2018+471%2019: -$432.9K-$432.9K2019−71%2020: -$2.0M-$2.0M2020+359%2021: -$1.1M-$1.1M2021−46%2022: -$1.7M-$1.7M2022+61%2023: -$2.2M-$2.2M2023+31%
Fiscal year2017201820192020202120222023
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 shares919.8M shares421.7M shares4

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Corporate structure

TRULEUM, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TRULEUM, INC.

  • TRULEUM, INC. Golden, Colorado

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TRULEUM, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$68.4K9 Dec 31, 2022$09 Dec 31, 2021
Oil and gas properties$1.8M4 Dec 31, 2023$1.5M4 Dec 31, 2022+24.2%

Leadership

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

President

  1. Jay Leaver2022–2023

Chief financial officer

  1. John F. Lepin2022
  2. Lacie Kellogg2024
20202025
Board members and other officers (6)

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

Timeline

  1. Apr 2, 20268-K Executive or director change; Regulation FD disclosure; Other events24
  2. May 30, 20258-K Executive or director change25
  3. Apr 30, 20258-K Entered a material agreement26
  4. Jul 22, 20248-K Other events27
  5. Jul 5, 20248-K Other events28
  6. May 31, 20248-K Change of auditor29
  7. May 10, 20248-K Change of auditor30
  8. Nov 6, 20238-K Ended a material agreement; Regulation FD disclosure31
  9. Sep 12, 20238-K Entered a material agreement32
  10. May 1, 20238-K Executive or director change; Shareholder vote; Regulation FD disclosure33
  11. Mar 2, 20238-K Executive or director change34
  12. Feb 16, 20238-K Entered a material agreement35

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:

  1. May 1, 202615-12G EDGAR
  2. Apr 27, 20264 EDGAR
  3. Apr 2, 20268-K EDGAR
  4. Mar 31, 2026NT 10-K EDGAR
  5. Nov 19, 2025NT 10-Q EDGAR
  6. Aug 15, 2025NT 10-Q EDGAR
  7. May 30, 20258-K EDGAR
  8. May 15, 2025NT 10-Q EDGAR
  9. Apr 30, 20258-K EDGAR
  10. Apr 1, 2025NT 10-K EDGAR
  11. Mar 13, 2025SEC STAFF ACTION EDGAR
  12. Nov 14, 2024NT 10-Q/A EDGAR
  13. Nov 14, 2024NT 10-Q EDGAR
  14. Oct 4, 20244 EDGAR
  15. Aug 15, 2024NT 10-Q EDGAR
  16. Jul 22, 20248-K EDGAR
  17. Jul 5, 20248-K EDGAR
  18. May 31, 20244 EDGAR
  19. May 31, 20244 EDGAR
  20. 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.

DateWhoTradeSharesPriceValueFiling
Apr 7, 2026AEI Acquisition Co LLCDirectorSale1,384,100$0.96$1.3MForm 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.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$3.1M 2022–2022
Money received by yearMoney received by year, 2022–2022: $3.1M in all. Private raises (Form D) $3.1M.$0$1M$2M$3M$4M2022 · Private raises (Form D): $3.1M2022
Figures by year
YearPrivate raises (Form D)Total
2022$3.1M$3.1M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Aug 18, 2022Raised $2 million in a private offering of equity23 Form D: $2.5 million offered in all Form D
  2. Feb 25, 2022Raised $1.1 million in a private offering of debt37 Form D: $5 million offered in all Form D

SEC filer profile

How TRULEUM, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTRULEUM, INC.1
  • CIK0000855787
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inColorado1
  • Fiscal year endsDecember 311
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address14143 Denver West Parkway, Suite 100, Golden, CO 804011
  • Phone1-800-819-06041
  • Shares outstanding21,794,178 as of May 15, 202412
  • Public float$24.2M as of Jun 30, 20234
  • On EDGAR sinceJul 25, 20141
  • Filings187 in all: 8-K (39), 10-Q (28), NT 10-Q (21), 4 (16), 5 (13), 10-K (10), NT 10-K (10), 3 (9)1
    All 26 form types

    10-Q/A (6), S-1/A (6), 10-K/A (4), CORRESP (4), DEF 14C (3), UPLOAD (3), D (2), PRE 14C (2), S-1 (2), 15-12G (1), 8-A12G (1), 8-K/A (1), D/A (1), DEFR14C (1), EFFECT (1), NT 10-Q/A (1), SC 13D (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Apr 5, 2024
    Quarterly report (10-Q) May 15, 2024
    Latest 8-K (8-K) Apr 2, 2026

Sources

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

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    SEC EDGAROther events
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    SEC EDGAROther events
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