XML 16 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues:    
Oil sales $ 153,983 $ 187,149
Natural gas sales 28,218 55,516
Royalty revenues 898 941
Sale of oil and natural gas properties 27,120
Total revenues 183,099 270,726
Oil and gas producing activities:    
Lease operating expenses 282,558 216,799
Production taxes 14,114 18,425
Depreciation, depletion, amortization and accretion 178,542 207,969
Impairment 252,000
Gas gathering:    
Operating expenses 1,406
Depreciation 11,055
General and administrative expenses:    
Director fees 10,000 10,000
Investor relations 1,907 3,163
Legal, auditing and professional fees 29,171 12,565
Consulting fees executive services-Related Parties 16,500 47,400
Other administrative expenses 15,166 19,154
Depreciation 142
Total operating expenses 799,958 548,078
Operating loss (616,859) (277,352)
Other income (expense)  
Interest income (expense), net (22,715) (27,158)
Total other expense (22,715) (27,158)
Loss before income taxes (639,574) (304,510)
Income tax benefit (expense)
Net loss attributable to Arete Industries, Inc. (639,574) (304,510)
Net Income Applicable to Common Stockholders:    
Net loss (639,574) (304,510)
Preferred stock dividends declared 48,509
Net income (loss) applicable to common stockholders $ (688,083) $ (304,510)
Earnings (Loss) Per Share Applicable to Common Stockholders:    
Basic $ (0.05) $ (0.02)
Diluted $ (0.05) $ (0.02)
Weighted Average Number of Common Shares Outstanding:    
Basic 14,295,400 12,810,000
Diluted 14,295,400 12,810,000