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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 659 $ 1,138
Accounts receivable 25 406
Accounts receivable - oil and gas 439 208
Accounts receivable - related party 0 19
Prepaid expenses and other current assets 173 150
Total current assets 1,296 1,921
Oil and gas properties:    
Oil and gas properties, subject to amortization, net 57,395 58,767
Oil and gas properties, not subject to amortization, net 0 0
Total oil and gas properties, net 57,395 58,767
Other assets 85 85
Investments - cost method 4 4
Total assets 58,780 60,777
Current liabilities:    
Accounts payable 103 3,380
Accrued expenses 1,802 2,178
Accrued expenses - related party 0 187
Revenue payable 517 475
Convertible – notes payable – Bridge Notes, net of premiums of $113,000 and $113,000, respectively 588 588
Notes payable – Secured Promissory Notes, net of discounts of $50,000 and $7,800,000, respectively 300 625
Notes payable – Secured Promissory Notes – related party, net of discounts of $0 and $1,713,000, respectively 0 134
Total current liabilities 3,310 7,567
Long-term liabilities:    
Accrued expenses 589 0
Accrued expenses – related party 677 0
Notes payable – Secured Promissory Notes, net of discounts of $4,600,000 and $1,861,000, respectively 27,497 19,420
Notes payable – Secured Promissory Notes – related party, net of discounts of $2,338,000 and $409,000, respectively 13,319 4,721
Notes payable - Subordinated - related party 10,173 8,918
Notes payable - other 4,925 4,925
Asset retirement obligations 246 189
Total liabilities 60,736 45,740
Commitments and contingencies
Shareholders' equity (deficit):    
Series A convertible preferred stock, $0.001 par value, 100,000,000 shares authorized, 66,625 and 66,625 shares issued and outstanding at December 31, 2016 and 2015, respectively 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized, 54,931,117 and 45,236,497 shares issued and outstanding at December 31, 2016 and 2015, respectively 55 45
Additional paid-in-capital 99,720 97,163
Accumulated deficit (101,731) (82,112)
Non-controlling interests 0 (59)
Total shareholders' equity (deficit) (1,956) 15,037
Total liabilities and shareholders' equity (deficit) $ 58,780 $ 60,777