v3.7.0.1
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Sep. 30, 2016
Current Assets    
Cash and Cash Equivalents $ 24,456 $ 64,114
Accounts Receivable, Net   63,147
Prepaid Expenses and Other Current Assets 97,270 38,311
Total Current Assets 121,726 165,572
Property and Equipment, Net of Depreciation 6,526 24,288
Oil and Natural Gas Properties, Full Cost Method of Accounting Unproved Properties 1,799,644 4,526,171
Total Non-Current Assets 1,806,170 4,550,459
Total Assets 1,927,896 4,716,031
Current Liabilities    
Accounts Payable 472,058 426,271
Related Party Payable 292,544 265,834
Accrued Expenses and Other Payables 1,321,927 1,352,929
Accrued Interest Payable 1,192,471 812,383
Notes Payable 36,210 4,156
Convertible Promissory Notes Payable 695,244 153,358
Stock Payable 11,605 11,605
Loans from Related-Party 8,985,675 8,382,891
Total Current Liabilities 13,007,734 11,409,427
Total Liabilities 13,007,734 11,409,427
Stockholders' Deficit    
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares none issued or outstanding
Common Stock; par value ($0.001); Authorized 975,000,000 shares; 685,152,225 and 682,902,225 issued and and outstanding, respectively 685,152 682,402
Additional Paid-in-Capital 26,959,404 26,151,376
Accumulated Deficit (38,724,394) (33,527,174)
Total Stockholders' Deficit (11,079,838) (6,693,396)
Total Liabilities and Stockholders' Deficit $ 1,927,896 $ 4,716,031

Source

v3.7.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Impairment of Oil and Natural Gas Properties $ 3,316,212 $ 2,890,678 $ 3,316,212 $ 2,890,678
General & Administrative Expenses 67,857 296,777 744,682 1,306,381
Net Loss from Operations (3,384,069) (3,187,455) (4,060,894) (4,197,059)
Other Income/(Expenses):        
Interest Expense (383,457) (127,656) (1,085,625) (334,399)
Loss on Debt Extinguishment (50,701)   (50,701)  
Net Loss Before Income Taxes (3,818,227) (3,315,111) (5,197,220) (4,531,458)
Net Loss $ (3,818,227) $ (3,315,111) $ (5,197,220) $ (4,531,458)
Loss Per Share - Basic and Diluted (in dollars per share) $ (0.01) $ (0.00) $ (0.01) $ (0.01)
Weighted Average Shares Outstanding - Basic and Diluted (in shares) 685,152,225 680,512,225 683,955,339 677,604,919

Source

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

Source