Income Statement
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
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| Income Statement [Abstract] | ||||
| Revenue | $ 160,304 | $ 583,019 | $ 1,641,039 | $ 1,870,927 |
| Operating expenses | ||||
| Lease operating expense | 328,470 | 462,660 | 1,080,903 | 1,300,620 |
| Selling, general and administrative expense | 937,954 | 664,957 | 2,752,024 | 2,015,042 |
| Depreciation, depletion, amortization and accretion expense | 59,446 | 96,745 | 630,342 | 321,056 |
| Total operating expenses | 1,325,870 | 1,224,362 | 4,463,269 | 3,636,718 |
| Loss from operations | (1,165,566) | (641,343) | (2,822,230) | (1,765,791) |
| Other income (expenses): | ||||
| Interest expense | (1,779,984) | (254,486) | (10,827,209) | (1,169,327) |
| Other income | 2,500 | 18,905 | 25,407 | |
| Change in derivative | 3,301,296 | 114,474 | 4,379,887 | (195,760) |
| Gain on extinguishment of debt | 417,666 | 54,951 | 1,663,852 | (8,734) |
| Total other income (expenses) | 1,938,978 | (82,561) | (4,764,565) | (1,348,414) |
| Net Income (Loss) | 773,412 | (723,904) | (7,586,795) | (3,114,205) |
| Deemed dividend related to warrant repricing | (4,995,975) | |||
| Net Income (Loss) attributable to common stockholders | $ 773,412 | $ (723,904) | $ (12,582,770) | $ (3,114,205) |
| Net loss per share - basic | $ 0.03 | $ (0.04) | $ (0.52) | $ (0.20) |
| Net loss per share - diluted | $ 0.00 | $ (0.04) | $ (0.52) | $ (0.20) |
| Weighted average common shares - basic | 26,290,578 | 16,522,827 | 24,218,718 | 15,593,318 |
| Weighted average common shares - diluted | 517,702,534 | 16,522,827 | 24,218,718 | 15,593,318 |
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- Definition Deemed dividend related to warrant repricing. No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The increase (decrease) during the period in the net carrying value of derivative instruments reported as assets and liabilities that are due to be disposed of within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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