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A. BASIS OF PRESENTATION
9 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
A. BASIS OF PRESENTATION

These consolidated financial statements are unaudited; however, in the opinion of management, they reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal recurring nature unless disclosed otherwise. These consolidated financial statements, including notes, have been condensed and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2013 and the notes thereto included with the Current Report on Form 8-K/A of the Company filed with the Securities and Exchange Commission (“SEC”) on September 22, 2014.

 

On September 10, 2014, a wholly owned subsidiary of Pyramid Oil Company merged with and into Yuma Energy, Inc., a Delaware corporation (“Yuma Co.”), in exchange for shares of its common stock, and Pyramid subsequently changed its name to Yuma Energy, Inc. (the “merger”). As a result of the merger, the former Yuma Co. common and preferred stockholders received approximately 66,336,701 shares or 93% of the then-outstanding common stock of Pyramid, and thus acquired voting control. Although Pyramid was the legal acquirer, for financial reporting purposes the merger was accounted for as a reverse acquisition of Pyramid by Yuma Co. See Note J –Merger with Pyramid Oil Company for additional information.