Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES    
Net Loss $ (5,197,220) $ (4,531,458)
Adjustments to reconcile Net Loss to Cash used in Operating Activities:    
Impairment of Oil and Natural Gas Properties 3,316,212 2,890,678
Change in Allowance for Doubtful Accounts Receivable (128,024)  
Depreciation 17,763 37,384
Stock-based Compensation 393,037 257,898
Debt Discount Amortization 701,959 22,266
Loss on Debt Extinguishment 50,701  
Changes in Operating Assets and Liabilities    
(Increase) Decrease in Accounts Receivable 191,171  
(Increase) Decrease in Prepaid Expenses and Other Current Assets 100,230 185,698
Increase (Decrease) in Accounts Payable and Stock Payable (35,843) 101,482
Increase (Decrease) in Related Party Payable 26,710 49,577
Increase (Decrease) in Accrued Interest Payable 380,088 307,412
Increase (Decrease) in Accrued Liabilities and Other Payables   39,514
Net Cash used in Operating Activities (183,216) (639,549)
INVESTING ACTIVITIES    
Proceeds from Sale of Working Interest   400,000
Leases Purchased / Lease Rentals (257,689) (505,945)
Exploration Costs (114,119) (1,062,461)
Net Cash used in Investing Activities (371,808) (1,168,406)
FINANCING ACTIVITIES    
Proceeds from Related Party Loans 492,500 487,000
Payments on Note Payable (127,134) (189,896)
Proceeds from Convertible Promissory Notes and Warrants 150,000 215,000
Net Cash provided by Financing Activities 515,366 512,104
Net Decrease in Cash (39,658) (1,295,851)
Beginning Cash Balance 64,114 1,428,014
Ending Cash Balance 24,456 132,163
Supplemental Schedule of Cash Flow Activities    
Cash Paid for Interest 4,144 4,722
Non-Cash Financing and Investing Activities    
Capital Expenditures Included in Accounts Payable 50,628 260,313
Prepaid Asset Financed by Note Payable 159,188 240,848
Related Party Payable Settled through Issuance of Bridge Financing Notes   70,000
Capital Expenditures Included in Stock Payable   11,605
Stock-Based Compensation Capitalized to Unproved Properties $ 167,250 $ 324,797