Common Stock (Details Narrative 2) - USD ($)
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12 Months Ended |
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May 27, 2016 |
May 19, 2016 |
Apr. 01, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Number of shares granted |
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450,000
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Strike price (in dollars per share) |
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$ 3.00
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Warrants One [Member] | Unrelated Party [Member] |
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Number of warrants to purchase |
125,000
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Warrant exercisable price (in dollars per share) |
$ 1.25
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Warrants Two [Member] | Unrelated Party [Member] |
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Number of warrants to purchase |
100,000
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Warrant exercisable price (in dollars per share) |
$ 2.00
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Warrants Third [Member] | Unrelated Party [Member] |
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Number of warrants to purchase |
100,000
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Warrant exercisable price (in dollars per share) |
$ 3.00
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Warrants [Member] |
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Number of warrants to purchase |
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1,025,000
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Warrant exercisable price (in dollars per share) |
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$ 2.32
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Fair value |
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$ 2,144
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Volatility rate |
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120.00%
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Discount rate |
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0.00%
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Expected dividend yield |
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$ 0
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Expected life |
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5 years
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Warrants [Member] | Unrelated Party [Member] |
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Warrant expiration date |
Jun. 01, 2021
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Wilshire Energy Partners, LLC [Member] | Warrants One [Member] |
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Number of warrants to purchase |
100,000
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Warrant exercisable price (in dollars per share) |
$ 1.25
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Wilshire Energy Partners, LLC [Member] | Warrants Two [Member] |
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Number of warrants to purchase |
200,000
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Warrant exercisable price (in dollars per share) |
$ 2.00
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Wilshire Energy Partners, LLC [Member] | Warrants Third [Member] |
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Number of warrants to purchase |
400,000
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Warrant exercisable price (in dollars per share) |
$ 3.00
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Wilshire Energy Partners, LLC [Member] | Warrants [Member] |
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Number of warrants to purchase |
700,000
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Warrant expiration date |
Jun. 01, 2021
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Director One [Member] |
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Description of vesting and milestone achived |
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(i) 40% vesting ninety (90) days from the appointment
date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days
following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
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Director One [Member] | First Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 2
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
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Director One [Member] | Second Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 3
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 200 boe/d for at least 60 days.
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Director One [Member] | Third Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 4
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 500 boe/d for at least 90 days.
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Director Two [Member] |
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Description of vesting and milestone achived |
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(i) 40% vesting ninety (90) days from the appointment
date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days
following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
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Director Two [Member] | First Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 2
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
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Director Two [Member] | Second Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 3
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 200 boe/d for at least 60 days.
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Director Two [Member] | Third Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 4
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 500 boe/d for at least 90 days.
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Director Three [Member] | First Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 2
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
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Director Three [Member] | Second Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 3
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 200 boe/d for at least 60 days.
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Director Three [Member] | Third Option [Member] |
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Number of shares granted |
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50,000
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Strike price (in dollars per share) |
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$ 4
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Description of vesting and milestone achived |
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Vesting when the Company achieves and maintains a
total average daily production level of 500 boe/d for at least 90 days.
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