Income Statement

Income Statement

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenue $ 583,019 $ 573 $ 1,870,927 $ 99,527
Operating expenses        
Lease operating expense 462,660 1,300,620
Selling, general and administrative expense 664,957 851,526 2,015,042 2,792,233
Depreciation, depletion, amortization and accretion expense 96,745 21,509 321,056 64,140
Impairment of oil and gas properties 45,419 1,328,637
Total operating expenses 1,224,362 918,454 3,636,718 4,185,010
Loss from operations (641,343) (917,881) (1,765,791) (4,085,483)
Other income (expenses):        
Interest expense (254,486) (127,891) (1,169,327) (377,566)
Other income 2,500 25,407
Change in derivative 114,474 (195,760)
Gain (Loss) on extinguishment of debt 54,951 48,407 (8,734) 48,407
Total other income (expenses) (82,561) (79,484) (1,348,414) (329,159)
Net Loss $ (723,904) $ (997,365) $ (3,114,205) $ (4,414,642)
Net loss per share– - basic and diluted $ (0.04) $ (0.07) $ (0.20) $ (0.31)
Weighted average common shares - basic and diluted 16,522,827 14,618,019 15,593,318 14,270,627

Source