Income Statement

Income Statement

v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenue $ 483,916 $ 559,678 $ 1,480,735 $ 1,287,908
Operating expenses        
Lease operating expense 358,630 370,105 752,433 837,960
Selling, general and administrative expense 1,038,348 619,660 1,814,070 1,350,085
Depreciation, depletion, amortization and accretion expense 360,813 109,936 570,896 224,311
Total operating expenses 1,757,791 1,099,701 3,137,399 2,412,356
Loss from operations (1,273,875) (540,023) (1,656,664) (1,124,448)
Other income (expenses):        
Interest expense and change in derivative liability (499,770) (930,475) (7,968,634) (1,225,075)
Other income 5,727 18,905 22,907
Gain (loss) on extinguishment of debt 513,833 (63,685) 1,246,186 (63,685)
Total other income (expenses) 14,063 (988,433) (6,703,543) (1,265,853)
Net Loss (1,259,812) (1,528,456) (8,360,207) (2,390,301)
Deemed dividend related to warrant repricing (4,995,975)
Net Loss attributable to common stockholders $ (1,259,812) $ (1,528,456) $ (13,356,182) $ (2,390,301)
Net loss per share - basic and diluted $ (0.05) $ (0.1) $ (0.58) $ (0.16)
Weighted average common shares - basic and diluted 23,672,003 14,941,836 22,739,440 14,921,345

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