Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.3
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets    
Cash $ 13,779 $ 82,593
Accounts receivable 51,026
Other current assets 255,180 8,993
Total current assets 268,959 142,612
Property & equipment    
Evaluated properties 12,794,285 14,312,580
Furniture, equipment & software 201,110 264,723
Less accumulated depreciation, depletion and impairment (586,488) (1,192,229)
Net property and equipment 12,408,907 13,385,074
Other assets    
Intangible assets 49,886
Total assets 12,677,866 13,577,572
Current liabilities    
Accounts payable 264,654 253,557
Accounts payable - related parties 42,494 159,878
Accrued liabilities 608,357 81,083
Accrued liabilities - related parties 649,633 815,814
Notes payable 335,877 42,582
Notes payable - related parties 610,748 207,100
Total current liabilities 2,511,763 1,560,014
Asset retirement obligations 1,509,622 473,868
Notes payable 725,999 24,204
Derivative liability 37,013
Total liabilities 4,784,397 2,058,086
Stockholders' equity    
Preferred stock, $0.001 par value; 1,000,000 shares authorized; 199,100 and 197,100 shares issued and outstanding 199 197
Common stock, $0.001 par value; 400,000,000 shares authorized; 162,673,726 and 111,698,222 shares issued and outstanding 162,674 111,698
Additional paid in capital 57,253,595 22,730,974
Accumulated other comprehensive income 8,273
Accumulated deficit (49,531,272) (11,323,383)
Total stockholders' equity 7,893,469 11,519,486
Total liabilities and stockholders' equity $ 12,677,866 $ 13,577,572