|
|
Pro-forma
March 31, 2017
|
Actual
March 31, 2017
|
||||||
|
ASSETS
|
||||||||
|
Current assets
|
||||||||
|
Cash
|
$
|
4,387
|
$
|
4,387
|
||||
|
Accounts receivable
|
48,201
|
48,201
|
||||||
|
Other current assets
|
5,506
|
5,506
|
||||||
|
Total current assets
|
58,094
|
58,094
|
||||||
|
|
||||||||
|
Property & equipment
|
||||||||
|
Oil and gas, on the basis of full cost accounting
|
||||||||
|
Evaluated properties
|
14,032,580
|
14,032,580
|
||||||
|
Furniture, equipment & software
|
236,092
|
236,092
|
||||||
|
Less accumulated depreciation
|
(1,137,981
|
)
|
(1,137,981
|
)
|
||||
|
Net property and equipment
|
13,130,691
|
13,130,691
|
||||||
|
|
||||||||
|
Other Assets
|
||||||||
|
Intangible assets
|
49,886
|
49,886
|
||||||
|
Note receivable
|
---
|
---
|
||||||
|
|
||||||||
|
Total Assets
|
$
|
13,238,671
|
$
|
13,238,671
|
||||
|
|
||||||||
|
LIABILITIES & STOCKHOLDERS EQUITY
|
||||||||
|
|
||||||||
|
Current liabilities
|
||||||||
|
Accounts payable
|
$
|
402,343
|
$
|
402,343
|
||||
|
Accrued liabilities
|
584,211
|
584,211
|
||||||
|
Debt short term
|
275,000
|
275,000
|
||||||
|
Convertible debt – related party, unamortized discount of 0 and 0
|
550,000
|
550,000
|
||||||
|
Current maturities of installment notes payable
|
32,582
|
32,582
|
||||||
|
Note payable – related parties
|
414,480
|
1,414,480
|
||||||
|
Total current liabilities
|
2,258,616
|
3,258,616
|
||||||
|
|
||||||||
|
Asset retirement obligations
|
436,045
|
436,045
|
||||||
|
Installment note payable – long term
|
28,316
|
28,316
|
||||||
|
Note payable to related party – long term
|
1,904,020
|
2,904,020
|
||||||
|
Total Liabilities
|
4,626,997
|
6,626,997
|
||||||
|
|
||||||||
|
Stockholders’ Equity
|
||||||||
|
Preferred stock, $0.01 par value, 1,000,000 shares authorized;
No shares issued & outstanding
|
-
|
-
|
||||||
|
Common stock, $.001 par value; 150,000,000 shares authorized;
89,034,505 shares issued and outstanding
|
79,034
|
79,034
|
||||||
|
Additional paid in capital
|
16,963,530
|
14,963,530
|
||||||
|
Accumulated deficit
|
(8,430,890
|
)
|
(8,430,890
|
)
|
||||
|
Total Stockholders’ Equity
|
8,611,674
|
6,611,674
|
||||||
|
|
||||||||
|
Total Liabilities and Stockholders’ Equity
|
$
|
13,238,671
|
$
|
13,238,671
|
||||