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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES    
Net loss $ (2,150,059) $ (1,628,409)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and accretion 23,284 20,226
Amortization of debt discount 5,751 10,291
Gain - notes payable settlement 26,080
Executive stock based compensation expense 302,188
Changes in operating assets and liabilities:    
Increase/(Decrease) in other receivable 12,200 (18,133)
Decrease in prepaid expenses (3,566) 6,016
Increase in deposits (205,000)
Increase in accounts payable and accrued payables 537,089 439,541
Increase in accrued interest payable 545,354 227,945
Net cash used in operating activities (1,028,947) (819,253)
INVESTING ACTIVITIES    
Oil and gas properties (2,032,760) (930,426)
Property Acquisitions (2,000,000)
Purchase of equipment (12,500)
Net cash used in investing activities (2,045,260) (2,930,426)
FINANCING ACTIVITIES    
Proceeds from sale of common stock, net of costs 100,000 239,244
Proceeds from sale of preferred stock, net of costs 3,014,600  
Proceeds from notes payable 68,736 3,500,000
Repayments of notes payable (66,891) (113,308)
Net cash provided by financing activities 3,116,445 3,625,936
NET CHANGE IN CASH 42,238 (123,743)
CASH AT BEGINNING OF YEAR 146,555 270,298
CASH AT END OF YEAR 188,793 146,555
SUPPLEMENTAL INFORMATION:    
Interest paid 5,584 (651)
Income taxes paid 8,279
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Financing of insurance 68,736 62,548
Issuance of preferred stock for settlement of note payable - related party 480,000
Conversion of debt to equity 3,500,000 25,495
Issuance of common stock for settlement of notes payable and accrued interest 102,164
Asset retirement obligation $ 12,264 $ 146,720