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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (3,540,515) $ (710,126)
cash provided by (used in) operating activities:    
Value of warrants and options granted 1,491,630 117,068
Amortization of warrant value and conversion feature on convertible notes 4,447 47,705
Amortization of loan issue costs 29,072
Depreciation, depletion and amortization 1,649,578 1,254
Accretion of asset retirement obligation 133,082
Change in operating assets and liabilities:    
Accounts receivable (1,039,252) (21,237)
Unrealized gain on derivative instruments (663,350)
Prepaids (96,283)
Inventory (33,703)
Accounts payable 457,242 14,920
Accrued expenses 607,344 11,830
Net cash used in operating activities (1,000,708) (538,586)
Cash flows from investing activities:    
Acquisition of oil and natural gas properties (6,033,135) (1,160,866)
Purchase of other fixed assets (14,456)
Net cash used in investing activities (6,047,591) (1,160,866)
Cash flows from financing activities:    
Proceeds from debt issued 7,879,744 892,520
Principal payments of debt (1,065,000)
Proceeds from stock and warrant issuance 167,000 787,500
Net cash provided by financing activities 6,981,744 1,680,020
Net change in cash (66,555) (19,432)
Cash - Beginning of period 84,631 77,780
Cash - End of period 18,076 58,348
Supplemental cash flow information    
Cash paid for interest 316,809
Non-cash investing and financing activities:    
Non-cash additions to asset retirement obligations 3,400,770 183,203
Common stock issued in exchange for outstanding notes payable $ 157,500