Balance Sheet

Balance Sheet

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 540 $ 555
Restricted cash 120,000 240,000
Accounts receivable - trade 889 747
Accounts receivable - oil and gas 31,924
Prepaid expenses 46,075 14,721
Total current assets 167,504 287,947
Oil and gas properties, full cost accounting    
Properties not subject to amortization 979,978 2,457,218
Properties subject to amortization, net 13,483,584 10,674,918
Support facilities and equipment, net 269,485 121,502
Net oil and gas properties 14,733,047 13,253,638
Property and equipment, net 8,223 13,821
Other assets:    
Surety and performance bonds 145,000 295,000
Total assets 15,053,774 13,850,406
Current liabilities:    
Accounts payable and accrued liabilities 4,440,168 3,053,050
Accounts payable - related party 635,789 362,714
Deferred rent 14,487
Accrued interest 404,221 64,380
Accrued interest - related party 417,654 166,438
Notes payable 1,540,042 1,418,365
Notes payable - related party 7,250,000 7,135,732
Convertible note payable, net 167,500 93,272
Derivative liabilities 454,444 458,387
Other liabilities 249,852 305,935
Total Current Liabilities 15,559,670 13,072,760
Long-Term Liabilities:    
Asset retirement obligation 336,610 303,327
Convertible note payable, net 30,500
Total Liabilities 15,926,780 13,376,087
Commitment and Contingencies
Stockholders' (Deficit) Equity:    
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; no shares outstanding
Common stock, $0.0001 par value; 100,000,000 shares authorized; 20,146,138 and 14,900,627 shares issued and outstanding, respectively 2,015 1,490
Stock payable 52,752 93,900
Additional paid in capital 10,654,897 8,847,394
Accumulated deficit (11,582,670) (8,468,465)
Total stockholders' (deficit) equity (873,006) 474,319
Total Liabilities and Stockholders' (Deficit) Equity $ 15,053,774 $ 13,850,406

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