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CONSOLIDATED STATEMENTS OF OPERATIONS (Restated) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenues        
Crude Oil $ 45,846 $ 66,786 $ 67,635 $ 160,485
Natural Gas 4,346 12,343 8,807 19,547
Natural Gas Liquids 6,969 13,624 14,705 34,072
Operating revenues 57,458 92,753 91,147 214,104
Operating Expenses        
Lease Operating Expenses 27,222 188,483 96,513 312,040
Severance and Property Taxes 2,126 4,031 3,475 6,605
Depreciation, Depletion, Amortization and Accretion 2,837 3,592 5,132 7,834
General and Administrative 852,915 940,483 1,539,578 2,272,474
Total Operating Expenses 885,100 1,136,589 1,644,698 2,598,953
Operating Loss (827,642) (1,043,836) (1,553,551) (2,384,849)
Other Expense (Income)        
Interest Expense 0 4,174 0 5,021
Loss from Unconsolidated Entity 1,056,766 0 2,140,121 0
Loss on Derivative liability 17,930,335 8,134,112 29,969,765 10,298,003
Other Expense (Income), Net 172,100 (9,278) (42,532) (63,540)
Total Other Expenses 19,159,201 8,129,008 32,067,354 10,239,484
Net Loss Before Discontinued Operations (19,986,843) (9,172,844) (33,620,905) (12,624,333)
Income from Discontinued Operations 0 761,768 0 761,768
Net Loss (19,986,843) (8,411,076) (33,620,905) (11,862,565)
Less preferred dividends 0 84,282 2,217,671 84,282
Net loss attributable to common shareholders $ (19,986,843) $ (8,495,358) $ (35,838,576) $ (11,946,847)
Continuing Operations $ (1.01) $ (18.77) $ (2.61) $ (48.99)
Discontinued Operations 1.54 2.94
Total (1.01) (17.22) (2.61) (46.05)
Continuing Operations (1.01) (18.77) (2.61) (48.99)
Discontinued Operations 1.54 2.94
Total $ (1.01) $ (17.22) $ (2.61) $ (46.05)
Weighted Average Number of Common Shares Outstanding basic 19,815,872 493,300 13,705,461 259,432
Weighted Average Number of Common Shares Outstanding Diluted 19,815,872 493,300 13,705,461 259,432