Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows Used in Operating Activities    
Net loss $ (1,725,416) $ (704,801)
Adjustment to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation and amortization 37,404 35,201
Accretion of debt discount 0 134,467
ARO accretion 24,205 13,033
Finance fee for extension of note payable 60,101 0
Loss on conveyance of ORRI warrants 0 14,336
Interest on ORRI conversion 128,229 0
Debt issuance costs 47,319 0
Loss on conversion of Jovian debt 88,755 0
Loss on sale of vehicle 3,677 0
Stock-based compensation expense - employees 144,957 138,097
Stock-based compensation expense - directors 394,154 0
Stock-based compensation expense – consultant 21,519 0
Changes in operating assets and liabilities    
Accounts receivable 33,949 (68,662)
Inventory 0 33,330
Other assets 26,722 4,537
Accounts payable 5,158 257,073
Accrued liabilities 179,801 61,418
Net cash flows used in operating activities (529,466) (81,971)
Cash Flows (used in) Provided by Investing Activities    
Cash acquired from investment in Askarii 0 114
Proceeds from sale of property and equipment 0 30,000
Purchase of fixed asset (9,256) (13,116)
Cash flows (used in) provided by investing activities (9,256) 16,998
Cash Flows Provided by Financing Activities    
Proceeds from shareholder advances 206,500 118,000
Payments of shareholder advances (14,000) (81,000)
Proceeds from issuance of common stock for exercise of warrant 48,000 48,000
Proceeds from issuance of preferred stock 241,000 0
Cash paid for PORRI conversion (3,230) 0
Payments on notes payable (2,484) (1,610)
Cash flows provided by financing activities 475,786 83,390
Net change in cash and cash equivalents (62,936) 18,417
Beginning of period 68,648 3,091
End of period 5,712 21,508
SUPPLEMENTAL DISCLOSURES    
Interest Paid 22,782 16,453
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Warrants issued with debt 0 3,451
Note payable for purchase of vehicle 35,677 0
Initial recognition of asset retirement obligation 101,405 0
Purchase of Askarii 0 50,000
Settlement of accounts receivable and other assets for oil and gas properties 465,798 0
Sale of Vehicle to Related Party [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Non-cash transaction, value of consideration given 8,677 0
Preferred Shares Issued for Purchase of Equipment [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 30,000 0
Settlement of Debt with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 154,000 0
Settlement of Related Party Debt with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 375,900 0
Settlement of Investment with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 405,000 0
Settlement of Debt with Common Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 2,033,152 0
Payment of Affiliated Note Through Share Issuance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 146,875
Settlement of Accounts Payable through Share Issuance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 42,000
Transfer to Askani Inventory [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Non-cash transaction, value of consideration given 0 146,861
Shares Issued in Payment of Shareholder Advance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued $ 0 $ 20,000