Common Stock (Details Narrative) - USD ($)
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9 Months Ended |
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Sep. 29, 2017 |
Jul. 10, 2017 |
Jun. 30, 2017 |
Jun. 15, 2017 |
May 31, 2017 |
Feb. 27, 2017 |
Dec. 30, 2016 |
Aug. 18, 2016 |
Aug. 15, 2016 |
Jun. 30, 2016 |
May 27, 2016 |
May 19, 2016 |
May 16, 2016 |
May 02, 2016 |
Apr. 01, 2016 |
Dec. 24, 2015 |
Sep. 30, 2017 |
Dec. 31, 2016 |
Number of shares granted |
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275,000
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Number of shares granted, value |
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$ 453,500
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Number of shares issued |
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4,500,000
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Forward stock split ratio |
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4:1 forward split of our shares of common stock.
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Warrant exercisable price |
$ 1.00
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Description on warrants |
The exercise price of these investor warrants was adjusted to $0.665 per share. We measured the value of the effect of the down round feature as the difference between the fair value of the financial instrument at an original exercise price of $1.50 and an adjusted exercise price of $0.665 and, as a result, $59,801 was recorded as down round feature as a dividend under retained earnings under ASC 260-10-30-1. Foothills determined the amount of $59,801 using the Black-Scholes option-pricing model
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Fair value of volatility rate |
94.00%
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Fair value of discount rate |
0.00%
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Fair value of dividend yield |
0.00%
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Fair value of expected life |
3 years
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Common stock, par value |
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$ 0.0001
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$ 0.0001
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Common stock, shares outstanding |
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14,620,627
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13,779,612
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Volatility rate |
94.00%
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Discount rate |
0.00%
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Expected life |
3 years
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Number of stock option shares granted |
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1,600,000
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Common Stock And Amended Warrants [Member] |
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Number of warrants to purchase |
37,594
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Warrant exercisable price |
$ 0.665
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Purchase price |
$ 0.665
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Warrants outstanding |
12,594
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Director One [Member] |
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Number of shares granted |
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125,000
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Number of shares issued |
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125,000
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Number of shares issued, value |
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$ 1,250
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Director Two [Member] |
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Number of shares granted |
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125,000
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Number of shares issued |
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125,000
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Number of shares issued, value |
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$ 1,250
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Two Directors [Member] |
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Description of vesting period |
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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 appointment date.
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Warrants [Member] |
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Warrant exercisable price |
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$ 1.58
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$ 2.32
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Fair value of volatility rate |
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120.00%
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Fair value of dividend yield |
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0.00%
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Fair value of expected life |
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5 years
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Warrants outstanding |
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2,366,015
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1,025,000
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Fair value of warrants |
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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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Share Exchange Agreement [Member] |
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Number of shares issued upon acquisition |
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1,503,759
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Securities Purchase Agreement [Member] |
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Number of shares issued |
100,752
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25,000
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Number of shares issued, value |
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$ 25,000
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Number of warrants to purchase |
300,752
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Warrant exercisable price |
$ 0.665
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$ 1.50
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Purchase price |
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$ 1.00
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Strike price |
$ 0.665
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Warrant minimum exercisable term |
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3 years
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Securities Purchase Agreement [Member] | Third Party Investor [Member] |
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Number of shares issued |
12,594
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25,000
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Number of shares issued, value |
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$ 25,000
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Number of warrants to purchase |
37,594
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Warrant term |
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3 years
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Warrant exercisable price |
$ 0.665
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$ 1.50
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Description on warrants |
We measured the value of the effect of the down round feature as the difference between the fair value of the financial instrument at an original exercise price of $1.50 and an adjusted exercise price of $0.665 and, as a result, $59,801 was recorded as down round feature as a dividend under retained earnings under ASC 260-10-30-1. Foothills determined the amount of $59,801 using the Black-Scholes option-pricing model
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Fair value of volatility rate |
94.00%
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Fair value of discount rate |
0.00%
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Fair value of dividend yield |
0.00%
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Fair value of expected life |
3 years
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Purchase price |
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$ 1.00
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Strike price |
$ 0.665
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Volatility rate |
94.00%
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Discount rate |
0.00%
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Expected life |
3 years
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Foothills Petroleum Inc [Member] |
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Number of acquired shares pre-split |
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14,112,250
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Percentage of voting interest acquired by parent |
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96.00%
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Number of acquired shares pre-split, value |
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$ 316,035
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Number of acquired shares post-split |
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56,449,000
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Number of shares retained after post-split |
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2,360,000
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Foothills Petroleum Inc [Member] | Share Exchange Agreement [Member] |
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Number of shares issued upon acquisition |
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6,003,759
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Wilshire Energy Partners, LLC [Member] | Warrants One [Member] |
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Number of warrants to purchase |
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100,000
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Warrant exercisable price |
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$ 1.25
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Wilshire Energy Partners, LLC [Member] | Warrants Two [Member] |
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Number of warrants to purchase |
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200,000
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Warrant exercisable price |
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$ 2.00
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Wilshire Energy Partners, LLC [Member] | Warrants Three [Member] |
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Number of warrants to purchase |
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400,000
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Warrant exercisable price |
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$ 3.00
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Wilshire Energy Partners, LLC [Member] | Warrants [Member] |
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Warrant expiration date |
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Jun. 01, 2021
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Wilshire Energy Partners, LLC [Member] | Securities Purchase Agreement [Member] |
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Number of shares issued |
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200,000
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Number of shares issued, value |
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$ 200,000
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Warrant exercisable price |
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$ 1.50
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Purchase price |
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$ 1.00
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Warrant minimum exercisable term |
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3 years
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Zhuge Liang, LLC [Member] | Securities Purchase Agreement [Member] |
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Number of shares issued |
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20,000
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Number of shares issued, value |
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$ 20,000
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Number of warrants to purchase |
30,075
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Warrant exercisable price |
$ 0.665
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$ 1.50
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Purchase price |
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$ 1.00
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Strike price |
$ 0.665
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Warrant minimum exercisable term |
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3 years
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Warrants outstanding |
10,075
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Unrelated Party [Member] | Warrants [Member] |
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Warrant expiration date |
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Jun. 01, 2021
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Unrelated Party [Member] | Warrants One [Member] |
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Number of warrants to purchase |
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125,000
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Warrant exercisable price |
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$ 1.25
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Unrelated Party [Member] | Warrants Two [Member] |
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Number of warrants to purchase |
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100,000
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Warrant exercisable price |
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$ 2.00
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Unrelated Party [Member] | Warrants Third [Member] |
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Number of warrants to purchase |
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100,000
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Warrant exercisable price |
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$ 3.00
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|
|
|
Mr. B.P. Allaire [Member] | Restricted Shares [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares granted |
|
|
|
|
|
|
|
|
|
|
|
|
|
150,000
|
|
|
|
|
Wilshire Energy Partners, LLC [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of voting interest acquired by parent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.00%
|
|
|
Number of shares issued upon acquisition |
|
|
|
|
|
|
|
|
|
|
4,500,000
|
|
|
|
|
4,500,000
|
|
|
Wilshire Energy Partners, LLC [Member] | Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase |
|
|
|
|
|
|
|
|
|
|
700,000
|
|
|
|
|
|
|
|
Warrant term |
|
|
|
|
|
|
|
|
|
|
5 years
|
|
|
|
|
|
|
|
Warrant minimum exercisable term |
|
|
|
|
|
|
|
|
|
|
1 year
|
|
|
|
|
|
|
|
Warrant expiration date |
|
|
|
|
|
|
|
|
|
|
Jun. 01, 2021
|
|
|
|
|
|
|
|
Wilshire Energy Partners, LLC [Member] | Warrants One [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase |
|
|
|
|
|
|
|
|
|
|
100,000
|
|
|
|
|
|
|
|
Warrant exercisable price |
|
|
|
|
|
|
|
|
|
|
$ 1.25
|
|
|
|
|
|
|
|
Wilshire Energy Partners, LLC [Member] | Warrants Two [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase |
|
|
|
|
|
|
|
|
|
|
200,000
|
|
|
|
|
|
|
|
Warrant exercisable price |
|
|
|
|
|
|
|
|
|
|
$ 2.00
|
|
|
|
|
|
|
|
Wilshire Energy Partners, LLC [Member] | Warrants Third [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase |
|
|
|
|
|
|
|
|
|
|
400,000
|
|
|
|
|
|
|
|
Warrant exercisable price |
|
|
|
|
|
|
|
|
|
|
$ 3.00
|
|
|
|
|
|
|
|
Wilshire Energy Partners, LLC [Member] | Share Exchange Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued upon acquisition |
|
|
|
|
|
|
|
|
|
|
4,500,000
|
|
|
|
|
|
|
|
Alternus Capital Holdings Ltd. [Member] | Share Exchange Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued upon acquisition |
|
|
|
|
|
|
|
|
|
|
1,503,759
|
|
|
|
|
|
|
|
Berwin Trading Limited [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued |
|
|
|
|
|
|
|
|
|
3,007,519
|
|
|
|
|
|
|
|
|
Number of shares issued, value |
|
|
|
|
|
|
|
|
|
$ 2,000,000
|
|
|
|
|
|
|
|
|
Common stock, par value |
|
|
|
|
|
|
|
|
|
$ 0.0001
|
|
|
|
|
|
|
|
|
Total Belief Limited [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued |
|
|
|
|
|
|
2,083,334
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued, value |
|
|
|
|
|
|
$ 3,812,500
|
|
|
|
|
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
|
$ 1.83
|
|
|
|
|
|
|
|
|
|
|
|
Mr. Ritchie Lanclos [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,000
|
|
Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of restricted shares issued |
|
|
|
|
|
|
|
|
100,000
|
|
|
|
|
|
|
|
40,000
|
|
Restricted shares purchase price |
|
|
|
|
|
|
|
|
$ 0.665
|
|
|
|
|
|
|
|
|
|
Restricted stock unit value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 67,000
|
|
Number of shares vested, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,800
|
|
Stock payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 40,200
|
|
Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
|
20,000
|
|
|
|
|
|
|
|
|
|
Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
|
20,000
|
|
|
|
|
|
|
|
|
|
Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
|
60,000
|
|
|
|
|
|
|
|
|
|
Mr.Eleazar Ovalle [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,000
|
|
Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of restricted shares issued |
|
|
|
|
|
|
|
100,000
|
|
|
|
|
|
|
|
|
40,000
|
|
Restricted shares purchase price |
|
|
|
|
|
|
|
$ 0.665
|
|
|
|
|
|
|
|
|
|
|
Restricted stock unit value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 67,000
|
|
Number of shares vested, value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,800
|
|
Stock payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 40,200
|
|
Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
20,000
|
|
|
|
|
|
|
|
|
|
|
Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
20,000
|
|
|
|
|
|
|
|
|
|
|
Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares vested |
|
|
|
|
|
|
|
60,000
|
|
|
|
|
|
|
|
|
|
|
Director One [Member] | First Option [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of vesting period |
|
|
|
|
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
|
|
|
|
|
|
$ 2
|
|
|
|
|
|
|
Number of stock option shares granted |
|
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
|
|
|
|
Director Two [Member] | Second Option [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of vesting period |
|
|
|
|
|
|
|
|
|
|
|
vesting when the Company achieves and maintains a total average daily production level of 200 boe/d for at least 60 days.
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
|
|
|
|
|
|
$ 3
|
|
|
|
|
|
|
Number of stock option shares granted |
|
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
|
|
|
|
Director Three [Member] | Third Option [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of vesting period |
|
|
|
|
|
|
|
|
|
|
|
vesting when the Company achieves and maintains a total average daily production level of 500 boe/d for at least 90 days.
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
|
|
|
|
|
|
$ 4
|
|
|
|
|
|
|
Number of stock option shares granted |
|
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
|
|
|
|
Mr. Christopher Jarvis [Member] | Officer and Director [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of vesting period |
|
|
|
|
|
vesting quarterly over two years commencing with the first quarter following the 90-day probationary period.
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of volatility rate |
|
|
|
|
|
129.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of dividend yield |
|
|
|
|
|
0.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of expected life |
|
|
|
|
|
5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
$ 1.99
|
|
|
|
|
|
|
|
|
|
|
|
|
Volatility rate |
|
|
|
|
|
129.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate |
|
|
|
|
|
0.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected dividend yield |
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected life |
|
|
|
|
|
5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of stock option shares granted |
|
|
|
|
|
400,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of stock option |
|
|
|
|
|
$ 616,055
|
|
|
|
|
|
|
|
|
|
|
|
|
Mr. Kevin Sylla [Member] | Executive Chairman of the Board [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of vesting period |
|
|
|
|
|
vesting quarterly over the term of three years.
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of volatility rate |
|
|
|
|
|
129.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of dividend yield |
|
|
|
|
|
0.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of expected life |
|
|
|
|
|
7 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Strike price |
|
|
|
|
|
$ 1.99
|
|
|
|
|
|
|
|
|
|
|
|
|
Volatility rate |
|
|
|
|
|
129.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate |
|
|
|
|
|
0.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected dividend yield |
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected life |
|
|
|
|
|
7 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of stock option shares granted |
|
|
|
|
|
1,200,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of stock option |
|
|
|
|
|
$ 1,986,902
|
|
|
|
|
|
|
|
|
|
|
|
|