Income Statement

Income Statement

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Revenue $ 2,567,438 $ 155,161
Operating expenses    
Lease operating expense 1,648,155 252,753
Selling, general and administrative expense 2,719,863 3,808,067
Depreciation, depletion, amortization and accretion expense 434,073 34,232
Impairment of oil and gas properties 2,474,714 1,507,768
Total operating expenses 7,276,805 5,602,820
Loss from operations (4,709,367) (5,447,659)
Other income (expenses):    
Interest expense (2,247,011) (930,923)
Other income 45,407 5,727
Change in derivative 50,619 (169,423)
Loss on extinguishment of debt 274,846 48,407
Total other income (expenses) (1,876,139) (1,046,212)
Net loss $ (6,585,506) $ (6,493,871)
Net loss per share - basic and diluted $ (0.39) $ (0.45)
Weighted average common shares - basic and diluted 16,992,461 14,418,719

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