v2.4.0.6
Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (441,551) $ (806,023)
Adjustments to reconcile net income to net cash provided by operating activities:    
(Gain) Loss on disposal of subsidiary    67,179
Amortization of debt discount 41,113 (27,945)
(Gain) Loss on beneficial conversion 43,770   
Shares issued for compensation    146,500
Shares issued to consultants    240,000
Issuance of stock options    16,403
Cancellation of Stock Subscription 62,135   
Gain on debt conversion (290)   
(Increase) decrease in assets    
Prepaid expenses and other current assets 12,460 15,285
Note receivable 5,610 5,630
Increase (decrease) in liabilities    
Accounts payable 51,712 6,307
Accounts payable - related    184,083
Cash overdraft    (93)
Accrued interest 24,030 1,263
Accrued interest – related parties 22,439 (20,087)
Accrued expenses 138,750 110,552
Advances related party 40,000   
Net cash flows provided (used) by operating activities (11,042) (72,206)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sale (Acquisition) of lease rights 3,525 (30,269)
Purchase of oil and natural gas properties    (500,000)
Net cash flows (used) by investing activities 3,525 (530,269)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Notes payable – related parties    500,000
Notes payable    115,945
Net cash flows provided by financing activities    615,945
NET INCREASE (DECREASE) IN CASH (7,517) 13,470
CASH, BEGINNING OF PERIOD 7,618   
CASH, END OF PERIOD 101 13,470
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for interest    20,250
Debt conversion, converted investment $ 62,967