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v3.20.2

Income Taxes - Schedule of Deferred Income Taxes (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019
--- | --- | ---
Deferred tax assets: |  |
Non-qualified stock-based compensation | $ 234,559 | $ 159,090
Net operating loss carry-forwards | 78,197 | 496,082
Derivative losses | 401,382 | 0
Other | 53,159 | 20,713
Gross deferred tax assets | 767,297 | 675,885
Valuation allowance | (53,218) | (53,218)
Total deferred tax assets | 714,079 | 622,667
Deferred tax liability: |  |
Oil and natural gas properties | (11,775,102) | (11,945,358)
Total deferred tax liability | (11,775,102) | (11,945,358)
Net deferred tax liability | $ (11,061,023) | $ (11,322,691)

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