XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (369) $ (3,957)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, depletion, accretion, and amortization 264 271
Impairment of oil and gas properties 1,794
Loss on real estate held for sale 1,054
Unrealized loss on commodity derivatives 170
(Gain) loss on marketable equity securities (73) 121
Loss on warrant revaluation 24 120
Loss on related party debt conversion and settlement of legal costs 76  
Stock-based compensation 195 106
Right of use asset amortization 42 26
Decrease (increase) in:    
Oil and natural gas sales receivable (208) 666
Other assets (39) (51)
Increase (decrease) in:    
Accounts payable and accrued liabilities (509) (508)
Accrued compensation and benefits (125) (84)
Payments on operating lease liability (39) (28)
Net cash used in operating activities (591) (470)
Cash flows from investing activities:    
Acquisition of New Horizon Resources, net of cash acquired (122)
Oil and natural gas capital expenditures (904) (31)
Proceeds from sale of oil and gas properties 30
Property and equipment expenditures (23)
Payment received on note receivable 20 20
Net cash used in investing activities: (877) (133)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 5,283
Repayment of credit facility (61)
Repayments of insurance premium finance note payable (48) (90)
Shares withheld to settle tax withholding obligations for restricted stock awards (39)
Payment for fractional shares in reverse stock split (1)
Net cash provided by (used in) financing activities 5,196 (152)
Net increase (decrease) in cash and equivalents 3,728 (755)
Cash and equivalents, beginning of period 2,854 1,532
Cash and equivalents, end of period 6,582 777
Supplemental disclosures of cash flow information and non-cash activities:    
Cash payments for interest 3 2
Investing activities:    
Issuance of stock in acquisition of New Horizon Resources 240
Change in capital expenditure accruals 256 (9)
Addition of operating lease liability and right of use asset 82
Asset retirement obligations 44 (151)
Financing activities:    
Issuance of stock for conversion of related party secured note payable and accrued interest 438
Issuance of stock for settlement of related party legal costs 406
New Horizon credit facility assumed 61
Financing of insurance premiums with note payable $ 223 $ 199