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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 202 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Cash Flows From Operating Activities:      
Net loss $ (3,275,879) $ (3,131,067) $ (82,670,550)
Adjustments to reconcile net loss to net cash used by operating activities:      
Depreciation and depletion expense 10,874 18,461 1,519,412
Provision for loss on deposits 0 0 5,292,896
Write-offs and abandonments 0 0 7,742,128
Deferred income taxes 0 0 (2,018,398)
Compensatory stock options 13,819 0 1,322,059
Gain from settlement 0 0 (617,310)
Gain on sale of partial interest in DRSTP concession 0 0 (30,102,250)
Amortization of beneficial conversion feature associated with convertible debt 0 0 2,793,929
Amortization of deferred compensation 0 0 1,257,863
Loss on extinguishment of debt 0 (12,868) 5,669,500
Stock issued for services 0 0 20,897,077
Stock issued for settlements 0 0 225,989
Stock issued for officer bonuses 28,342 58,622 5,223,037
Stock issued for interest and penalties on convertible debt 0 0 10,631,768
Stock issued for board compensation 0 0 2,652,449
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (99,570) (99,836) (381,710)
Accounts payable and other accrued liabilities (10,513) (261,592) (2,563,130)
Accrued retirement obligation 0 0 365,000
Net cash used in operating activities (3,332,927) (3,428,280) (52,760,241)
Cash Flows From Investing Activities:      
Purchase of long-term investment 0 0 (5,292,896)
Purchases of and deposits on oil and gas concessions (393,199) (91,848) (7,748,230)
Proceeds from sale of partial interest in DRSTP concession 0 0 45,900,000
Purchase of U.S. Treasury Bills and accrued interest (3,554) (5,789) (5,011,000)
Purchase of investment in marketable equity securities 0 (1,350,000) (1,350,000)
Purchase of restricted certificate of deposit 0 0 (131,000)
Proceeds from sale of restricted certificate of deposit 131,000 0 131,000
Proceeds from maturity of U.S Treasury Bills 5,011,000 0 5,011,000
Purchase of furniture and equipment (7,771) (15,090) (970,306)
Net cash provided by (used in) investing activities 4,737,476 (1,462,727) 30,538,568
Cash Flows From Financing Activities:      
Proceeds from warrants exercised 0 0 160,000
Proceeds from common stock, net of expenses 0 1,821,500 8,776,549
Proceeds from line of credit, related party 0 0 2,750,000
Proceeds from non-convertible debt, related party 0 0 158,700
Proceeds from convertible debt, related party 0 0 8,207,706
Proceeds from sale of convertible debt 0 0 9,019,937
Proceeds from bank borrowing 0 0 175,000
Proceeds from stockholder loans 0 0 1,845,809
Proceeds from stock subscription Receivable 0 0 913,300
Repayment of shareholder loans 0 0 (1,020,607)
Repayment of long-term debt 0 (33,513) (223,021)
Net cash provided by financing activities 0 1,787,987 30,763,373
Net increase (decrease) in cash and cash equivalents 1,404,549 (3,103,020) 8,541,700
Cash and cash equivalents, beginning of period     0
Cash and cash equivalents, end of period $ 8,541,700 $ 9,810,229 $ 8,541,700