Balance Sheet

Balance Sheet

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 97 $ 555
Restricted cash 240,000 240,000
Accounts receivable - trade 725 747
Accounts receivable - oil and gas 31,924
Prepaid expenses 37,272 14,721
Total current assets 278,094 287,947
Oil and gas properties, full cost accounting    
Properties not subject to amortization 979,978 2,457,218
Properties subject to amortization, net 13,580,396 10,674,918
Support facilities and equipment, net 269,536 121,502
Net oil and gas properties 14,829,910 13,253,638
Property and equipment, net 10,110 13,821
Other assets:    
Surety and performance bonds 145,000 295,000
Total assets 15,263,114 13,850,406
Current liabilities:    
Accounts payable and accrued liabilities 4,553,654 3,053,050
Accounts payable - related party 413,366 362,714
Deferred rent 13,551 14,487
Accrued interest 303,275 64,380
Accrued interest - related party 375,120 166,438
Notes payable 1,420,629 1,418,365
Notes payable - related party 7,250,000 7,135,732
Convertible note payable, net 208,929 93,272
Derivative liabilities 623,869 458,387
Other liabilities 292,611 305,935
Total Current Liabilities 15,455,004 13,072,760
Long-Term Liabilities:    
Asset retirement obligation 333,103 303,327
Total Liabilities 15,788,107 13,376,087
Commitment and Contingencies
Stockholders' 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; 15,050,627 and 14,900,627 shares issued and outstanding, respectively 1,505 1,490
Stock payable 973,712 93,900
Additional paid in capital 9,358,556 8,847,394
Accumulated deficit (10,858,766) (8,468,465)
Total stockholders' (deficit) equity (524,993) 474,319
Total Liabilities and Stockholders' (Deficit) Equity $ 15,263,114 $ 13,850,406

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