Balance Sheet

Balance Sheet

v3.19.3.a.u2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 477 $ 1,139
Restricted cash 120,000 120,000
Accounts receivable - trade 10,090
Accounts receivable - oil and gas 2,610
Prepaid expenses 56,905 6,086
Total current assets 179,992 137,315
Oil and gas properties, full cost accounting    
Properties not subject to amortization 106,299 106,299
Properties subject to amortization, net 12,639,920 12,036,804
Support facilities and equipment, net 294,246 284,157
Net oil and gas properties 13,040,465 12,427,260
Property and equipment, net 739 6,337
Other assets:    
Right of use assets 123,120
Surety and performance bonds 145,000 145,000
Total assets 13,489,316 12,715,912
Current liabilities:    
Accounts payable and accrued liabilities 4,937,076 4,320,261
Accounts payable - related party 1,164,606 794,529
Accrued interest 771,871 375,232
Accrued interest - related party 1,336,174 760,188
Notes payable 1,805,434 1,595,697
Notes payable - related party 7,250,000 7,250,000
Convertible note payable, net 1,456,730 181,637
Derivative liabilities 3,724,740 661,320
Leasing liabilities 145,226
Other liabilities 413,782 282,676
Total Current Liabilities 23,005,639 16,221,540
Long-Term Liabilities:    
Asset retirement obligation 593,270 340,117
Convertible note payable, net 32,898
Total Liabilities 23,598,909 16,594,555
Commitment and Contingencies
Stockholders' Deficit:    
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; no shares outstanding
Common stock, $0.0001 par value; 1,975,000,000 shares authorized; 36,851,334 and 22,075,738 shares issued and outstanding, respectively 3,686 2,208
Stock payable 2,600
Additional paid in capital 17,520,862 11,173,120
Accumulated deficit (27,636,741) (15,053,971)
Total stockholders' deficit (10,109,593) (3,878,643)
Total Liabilities and Stockholders' Deficit $ 13,489,316 $ 12,715,912

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