Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Revenue $ 160,304 $ 583,019 $ 1,641,039 $ 1,870,927
Operating expenses        
Lease operating expense 328,470 462,660 1,080,903 1,300,620
Selling, general and administrative expense 937,954 664,957 2,752,024 2,015,042
Depreciation, depletion, amortization and accretion expense 59,446 96,745 630,342 321,056
Total operating expenses 1,325,870 1,224,362 4,463,269 3,636,718
Loss from operations (1,165,566) (641,343) (2,822,230) (1,765,791)
Other income (expenses):        
Interest expense (1,779,984) (254,486) (10,827,209) (1,169,327)
Other income 2,500 18,905 25,407
Change in derivative 3,301,296 114,474 4,379,887 (195,760)
Gain on extinguishment of debt 417,666 54,951 1,663,852 (8,734)
Total other income (expenses) 1,938,978 (82,561) (4,764,565) (1,348,414)
Net Income (Loss) 773,412 (723,904) (7,586,795) (3,114,205)
Deemed dividend related to warrant repricing (4,995,975)
Net Income (Loss) attributable to common stockholders $ 773,412 $ (723,904) $ (12,582,770) $ (3,114,205)
Net loss per share - basic $ 0.03 $ (0.04) $ (0.52) $ (0.20)
Net loss per share - diluted $ 0.00 $ (0.04) $ (0.52) $ (0.20)
Weighted average common shares - basic 26,290,578 16,522,827 24,218,718 15,593,318
Weighted average common shares - diluted 517,702,534 16,522,827 24,218,718 15,593,318