Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net loss $ (7,586,795) $ (3,114,205)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion, amortization and accretion 630,342 321,056
Amortization of debt discount 1,794,484 416,695
Gain on extinguishment of debt (1,663,852) 8,734
Warrant and conversion feature exceeded notes 7,698,521
Change in derivative value (4,379,887) 195,760
Gain on settlement of debt and contingent liabilities 8,734
Common stock and warrants issued for inducement of the note extension 161,575
Common stock and stock payable issued for services and fair value of options 787,957 725,753
ASC 842 rental expense 22,106 (14,487)
Changes in operating assets and liabilities:    
Accounts receivable 10,090 (142)
Surety and performance bonds 150,000
Prepaid expenses (50,819) (31,354)
Accounts payable and accrued liabilities 833,892 (2,701)
Accounts payable and accrued liabilities - related party 946,063 1,090,591
Other liabilities 131,106 (23,290)
Net cash used in operating activities (826,792) (116,015)
Cash Flows from Investing Activities    
Payments for acquisition of oil and gas property (802,014)
Net cash used investing activities (802,014)
Cash Flows from Financing Activities    
Proceeds from notes payable 176,001 52,000
Proceeds from convertible note payable 1,855,500 44,000
Repayment to convertible note payable (403,357) (100,000)
Net cash provided by (used in) financing activities 1,628,144 (4,000)
Net decrease in cash, cash equivalents and restricted cash (662) (120,015)
Cash, Cash Equivalents and Restricted Cash, beginning of period 121,139 240,555
Cash, Cash Equivalents and Restricted Cash, end of period 120,477 120,540
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 1,139 555
Restricted cash at beginning of period 120,000 240,000
Cash and cash equivalents and restricted cash at beginning of period 121,139 240,555
Cash and cash equivalents at end of period 477 540
Restricted cash at end of period 120,000 120,000
Cash and cash equivalents and restricted cash at end of period 120,477 120,540
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 23,709
Debt discount 60,500
Unpaid liabilities in acquisition of oil and gas property 1,761,584
Principal and interest of note payable converted into shares 21,553 0
Right of use assets 187,811 0
Lease liabilities 187,811 0
Notes payable issued against settlement of convertible note 50,000
Other liabilities settled against notes payable $ 32,793