XML 30 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (1,770) $ (6,439)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation, depletion, accretion, and amortization 589 467
Impairment of oil and gas properties 2,943
Loss on real estate assets held for sale 151 1,054
Change in fair value of warrants (76) 23
(Gain) loss on marketable equity securities (10) 81
Loss on related party debt conversion and settlement of legal costs 76
Stock-based compensation 549 211
Right of use asset amortization 90 53
Decrease (increase) in:    
Oil and natural gas sales receivable (419) 214
Other assets 141 153
Increase (decrease) in:    
Accounts payable accrued liabilities (125) 461
Accrued compensation and benefits 850 120
Payments on operating lease liability (92) (58)
Payments of asset retirement obligations (107)
Net cash used in operating activities (153) (717)
Cash flows from investing activities:    
Acquisition of oil and natural gas properties, net of cash acquired (699)
Expenditures for pending acquisition (2,221)
Oil and gas properties capital expenditures (1,408) (475)
Property and equipment additions (196)
Proceeds from sale of marketable equity securities 45
Proceeds from sale of oil and natural gas properties 40
Proceeds from sale of real estate 440
Payment received on notes receivable 20 20
Net cash used in investing activities: (3,325) (1,109)
Cash flows from financing activities:    
Issuance of common stock, net of fees 5,283 4,468
Proceeds from warrant exercise 565
Proceeds from related party secured note payable 375
Redemption of Series A Preferred Stock (2,000)
Payments on insurance premium finance note (199) (198)
Payments on credit facility (61)
Payment for fractional shares in reverse stock split (1)
Shares withheld to settle tax withholding obligations for restricted stock awards (38)
Net cash provided by financing activities 5,046 3,148
Net increase in cash and equivalents 1,568 1,322
Cash and equivalents, beginning of year 2,854 1,532
Cash and equivalents, end of year 4,422 2,854
Supplemental disclosures of cash flow information and non-cash activities:    
Cash payments for interest 5 5
Investing activities:    
Change in capital expenditure accruals 626 (21)
Issuance of stock for acquisitions 554
Prepaid rent liability netted with proceeds on sale of real estate 143
Asset retirement obligations (45) 558
Asset retirement obligations sold /plugged 70 12
Operating lease liability and right of use asset 82
Financing activities:    
Shares issued in redemption of Series A preferred stock 1,207
Issuance of stock for conversion of related party secured note payable 438
Issuance of stock for settlement of related party legal costs 406
Financing of insurance premiums with accrued payable $ 223 $ 198