Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net loss $ (7,100,395) $ (861,845)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion, amortization and accretion 210,083 114,375
Interest, amortization of debt discount and change in derivative liabilities 7,100,082 102,884
Gain on extinguishment of debt (732,353)
Common stock and warrants issued for inducement of the note extension 105,075
Common stock and stock payable issued for services and fair value of options 222,255 239,259
Premium on rent 3,214 123
Changes in operating assets and liabilities:    
Accounts receivable (145,633) (363,957)
Prepaid expenses (76,659) (13,898)
Other receivables (171,254)
Accounts payable and accrued liabilities (112,132) 264,779
Accounts payable and accrued liabilities - related party 384,131 390,694
Other liabilities 21,118 21,956
Net cash provided by (used in) operating activities (397,543) (555)
Cash Flows from Investing Activities    
Payments for acquisition of oil and gas property (78,981)
Net cash used investing activities (78,981)
Cash Flows from Financing Activities    
Proceeds from notes payable 176,001
Proceeds from convertible note payable 303,000
Net cash provided by (used in) financing activities 479,001
Net increase in cash, cash equivalents and restricted cash 2,477 (555)
Cash, Cash Equivalents and Restricted Cash, beginning of period 121,139
Cash, Cash Equivalents and Restricted Cash, end of period 123,616 (555)
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 121,139
Restricted cash at beginning of period 120,000 240,000
Cash and cash equivalents and restricted cash at beginning of period 1,139 (240,000)
Cash and cash equivalents at end of period 123,616 (555)
Restricted cash at end of period 120,000 240,555
Cash and cash equivalents and restricted cash at end of period 3,616 (240,000)
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest
Cash paid for income taxes
Supplemental disclosures of cash flow information:    
Asset Retirement Obligation 222,194
Debt discount (1,211,675)
Notes payable issued against payment of notes payable (110,000)
Notes payable against acquisition of assets 592,500
Leasing Assets recognized under ASC 842 (170,663)
Deemed dividend 4,995,975
Unpaid liabilities in acquisition of oil and gas property $ 1,830,141