Cash Flow

Cash Flow

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Cash Flows from Operating Activities          
Net loss $ (723,904) $ (997,365) $ (3,114,205) $ (4,414,642)  
Adjustments to reconcile net loss to net cash used in operating activities          
Depreciation, depletion, amortization and accretion 96,745 21,509 321,056 64,140  
Impairment of assets 45,419 1,328,637  
Amortization of debt discount     416,695 172,534  
Change in derivative value     195,760  
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     725,753 848,683  
Deferred rent     (14,487) 15,497  
(Loss) Gain on settlement of debt and contingent liabilities     8,734 (48,407)  
Changes in operating assets and liabilities:          
Accounts receivable     (142)  
Surety and performance bonds     150,000  
Prepaid expenses     (31,354) 72,952  
Accounts payable and accrued liabilities     (2,701) (123,168)  
Accounts payable and accrued liabilities - related party     1,090,591 332,904  
Other liabilities     (23,290) (35,000)  
Net cash used in operating activities     (116,015) (1,785,870)  
Cash Flows from Investing Activities          
Payments for acquisition of oil and gas property     (1,814,435)  
Net cash used in investing activities     (1,814,435)  
Cash Flows from Financing Activities          
Proceeds from notes payable - related party     1,250,000  
Repayment to notes payable     (1,000,000)  
Proceeds from notes payable     52,000 2,300,000  
Proceeds from convertible note payable     44,000 50,000  
Repayment of convertible note payable     (100,000)  
Proceeds from sales of common stock     270,000  
Net cash provided by financing activities     (4,000) 2,870,000  
Net decrease in cash, cash equivalents and restricted cash     (120,015) (730,305)  
Cash, Cash Equivalents and Restricted Cash, beginning of period     240,555 1,041,377 $ 1,041,377
Cash, Cash Equivalents and Restricted Cash, end of period 120,540 311,072 120,540 311,072 240,555
Reconciliation of Cash and Cash Equivalents and Restricted Cash:          
Cash and cash equivalents at beginning of period     240,555 1,041,377 1,041,377
Restricted cash at beginning of period     240,000 240,000 240,000
Cash and cash equivalents and restricted cash at beginning of period     555 801,377 801,377
Cash and cash equivalents at end of period 120,540 311,072 120,540 311,072 240,555
Restricted cash at end of period 120,000 240,000 120,000 240,000 240,000
Cash and cash equivalents and restricted cash at end of period $ 540 $ 71,072 540 71,072 $ 555
Supplemental Disclosures of Cash Flow Information:          
Cash paid for interest     (20,000)  
Cash paid for income taxes      
Supplemental disclosures of cash flow information:          
Prepaid expenses in shares     260,322  
Asset Retirement Obligation     23,709 291,659  
Debt discount     60,500 345,340  
Notes payable issued against settlement of convertible note     50,000  
Other liabilities settled against notes payable     32,793  
Unpaid liabilities in acquisition of oil and gas property     1,761,584  
Fair value of warrants issued with note payable     105,100  
Fair value of down-round feature on warrants     $ 59,801  

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