Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement Of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statement Of Cash Flows (Unaudited)
9 Months Ended
Sep. 30, 2016
USD ($)
Cash Flows from Operating Activities  
Net loss $ (1,393,032)
Adjustments to reconcile net loss to net cash used in operating activities:  
Common stock issued for services 9,250
Stock payable to officers 17,622
Changes in operating assets and liabilities:  
Prepaid expenses 125,833
Accounts payable and accrued liabilities 167,294
Accrued interest 28,801
Net cash used in operating activities (1,044,232)
Cash Flows from Investing Activities  
Payments for acquisition of oil and gas property (97,920)
Net cash used in investing activities (97,920)
Cash Flows from Financing Activities  
Proceeds from notes payable 400,000
Proceeds from issuance of common stock 2,000,000
Net cash provided by financing activities 2,400,000
Net increase in cash and cash equivalents 1,257,848
Cash and Cash Equivalents, beginning of period 375,000
Cash and Cash Equivalents, end of period 1,632,848
Supplemental disclosures of cash flow information:  
Conversion of notes payable 1,000,000
Prepaid warrants issued for services 2,144
Accrued interest forgiven by related party 28,801
Accounts payable settled with restricted cash $ 25,000