LIQUIDITY AND GOING CONCERN CONSIDERATIONS	6 Months Ended
Sep. 30, 2020
LIQUIDITY AND GOING CONCERN CONSIDERATIONS
LIQUIDITY AND GOING CONCERN CONSIDERATIONS	*NOTE 2 – LIQUIDITY AND GOING CONCERN CONSIDERATIONS* At September 30, 2020, the Company’s total current assets of $1.5 million were less than its total current liabilities of approximately $98.3 million, resulting in a working capital deficit of $96.8 million, while at March 31, 2020, the Company’s total current assets of $1.1 million were less than its total current liabilities of approximately $79.7 million, resulting in a working capital deficit of $78.6 million. The increase in working capital deficit of $18.2 million is due primarily to an increase in the recognized loss on the Series C Derivative Liability. Recent oil and gas price volatility as a result of geopolitical conditions and the global COVID-19 pandemic may have a negative impact on the Company’s financial position and results of operations. Negative impacts could include, but are not limited to, the Company’s inability to sell its oil and gas production, reduction in the selling price of the Company’s oil and gas, failure of a counterparty to make required payments, possible disruption of production as a result of worker illness or mandated production shutdowns or ‘stay-at-home’ orders, and access to new capital and financing. The factors above raise substantial doubt about the Company’s ability to continue to operate as a going concern for the twelve months following the issuance of these financial statements. The Company believes that it may not have sufficient liquidity to meet its operating costs unless it can raise new funding, which may be through the sale of debt or equity

NOTE 2 – LIQUIDITY AND GOING CONCERN CONSIDERATIONS

At September 30, 2020, the Company’s total current assets of $1.5 million were less than its total current liabilities of approximately $98.3 million, resulting in a working capital deficit of $96.8 million, while at March 31, 2020, the Company’s total current assets of $1.1 million were less than its total current liabilities of approximately $79.7 million, resulting in a working capital deficit of $78.6 million. The increase in working capital deficit of $18.2 million is due primarily to an increase in the recognized loss on the Series C Derivative Liability.

Recent oil and gas price volatility as a result of geopolitical conditions and the global COVID-19 pandemic may have a negative impact on the Company’s financial position and results of operations. Negative impacts could include, but are not limited to, the Company’s inability to sell its oil and gas production, reduction in the selling price of the Company’s oil and gas, failure of a counterparty to make required payments, possible disruption of production as a result of worker illness or mandated production shutdowns or ‘stay-at-home’ orders, and access to new capital and financing.

The factors above raise substantial doubt about the Company’s ability to continue to operate as a going concern for the twelve months following the issuance of these financial statements. The Company believes that it may not have sufficient liquidity to meet its operating costs unless it can raise new funding, which may be through the sale of debt or equity