XML 16 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
REVENUES $ 45,647 $ 795,282
OPERATING EXPENSES:    
Production costs 171,596 787,121
Exploration costs 55,951 243,270
General and administrative 1,199,046 986,628
Depreciation expense 323,144 330,785
Total Operating Expenses 1,749,737 2,347,804
Operating Loss (1,704,090) (1,552,522)
OTHER (EXPENSE):    
Interest expense, net, including amortization of deferred financing cost and debt discount (2,542,051) (2,073,194)
Other income, net 350,086 1,552
Total Other (Expense) (10,371,892) (1,175,918)
NET LOSS $ (12,075,982) $ (2,728,440)
Net Loss Per Share (Basic and Diluted) (in dollars per share) $ (0.08) $ (0.03)
Weighted Average Shares Outstanding (Basic and Diluted) (in shares) 145,620,493 108,613,549
PIK Note Derivative Liability [Member]    
OTHER (EXPENSE):    
(Loss) gain on revaluation of PIK Note derivative $ (8,179,927) $ 895,724