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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash $ 1,373 $ 6,675
Accounts receivable 169
Accounts receivable - oil and gas $ 585 $ 581
Accounts receivable - oil and gas - related party 21
Accounts receivable - related party $ 3 58
Deferred financing costs 2,813 2,208
Prepaid expenses and other current assets 207 81
Total current assets 5,150 9,624
Oil and gas properties:    
Oil and gas properties, subject to amortization, net $ 62,377 19,850
Oil and gas properties, not subject to amortization, net 2,205
Total oil and gas properties, net $ 62,377 22,055
Deferred financing costs $ 1,598 3,609
Note receivable 5,000
Notes receivable - related party 1,363
Other assets $ 85 85
Investments - cost method 4 4
Total assets 69,214 41,740
Current liabilities:    
Accounts payable $ 3,277 6,766
Accounts payable - related party 1,884
Accrued expenses $ 3,810 1,551
Accrued expenses - related party 1,353
Revenue payable $ 582 747
Advances from joint interest owners 657
Convertible notes payable - Bridge Notes, net of premiums of $113,000 and $132,000, respectively $ 588 687
Notes payable - Secured Promissory Notes, net of discounts of $5,931,000 and $4,652,000, respectively $ 544 526
Notes payable - related parties 6,170
Total current liabilities $ 8,801 20,341
Long-term liabilities:    
Notes payable - Secured Promissory Notes, net of discounts of $3,254,000 and $7,674,000, respectively 25,952 $ 22,733
Notes payable - Subordinated 8,523
Notes payable - other 4,925
Asset retirement obligations 192 $ 89
Total liabilities $ 48,393 $ 43,163
Commitments and contingencies
Shareholders' equity (deficit):    
Series A convertible preferred stock, $0.001 par value, 100,000,000 shares authorized, 66,625 and -0- shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively
Common stock, $0.001 par value, 200,000,000 shares authorized; 44,593,639 and 33,117,516 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively $ 45 $ 33
Additional paid-in-capital 96,711 59,395
Accumulated deficit (75,877) (60,796)
Noncontrolling interests (58) (55)
Total shareholders' equity (deficit) 20,821 (1,423)
Total liabilities and shareholders' equity (deficit) $ 69,214 $ 41,740