XML 34 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2013
OPERATING ACTIVITIES    
Net (loss) from continuing operations attributable to common stockholders $ (300,798) $ (368,740)
Income from discontinued operations    127,478
Adjustments to reconcile net (loss) to net cash flows provided by (used in) operating activities:    
Depreciation, depletion and amortization 49,960 117,725
Gain on settlement of claims    (22,000)
Gain on sale of disposal group held for sale    (127,478)
Shares issued for services - related party 5,325 2,200
Shares issued for services 3,045 39,160
Changes in operating assets and liabilities:    
Accounts receivable trade    (148,385)
Inventories    (42,143)
Due from others - related party    (119,809)
Prepaid and other current assets (15,861) 1,005
Accounts payable trade    190,241
Accrued and deposits payable 31,967 224,810
Accrued liabilities, related party 20,250 202,585
Disposal group held for sale    804
Net cash provided by (used in) operating activities (206,112) 77,453
INVESTING ACTIVITIES    
Funds loaned to a non affiliate (100,000)   
Additions to property and equipment (251,738) (2,976,228)
Additions to other long-term assets    (6,208)
Proceeds from sale of disposal group held for sale    1,600,000
Net cash (used in) investing activities (351,738) (1,382,436)
FINANCING ACTIVITIES    
Sale of common shares 1,274,263 2,621,443
Funds used to repurchase common shares    (975,000)
Funds from short-term convertible notes, net of repayment    1,535,000
Funds from short-term notes, net of repayment    22,355
Funds from short-term notes, related party    600,000
Distributions to working interest owners - five jab inc. (240,473) (958,365)
Net cash provided by financing activities 1,033,790 2,845,433
NET CHANGE IN CASH 475,940 1,540,450
CASH, Beginning    492,729
CASH, Ending 475,940 2,033,179
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION:    
Issuance of common shares for oil and gas properties 1,400,000   
Interest paid      
Income taxes paid