Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net Loss $ (2,053,497) $ (5,197,220)
Adjustments to reconcile net loss to net cash From Operating Activities:    
Impairment of Oil and Natural Gas Properties 3,316,212
Changes in Allowance for Doubtful Accounts Receivable   (128,024)
Depreciation 3,712 17,763
Stock Based Compensation 850,798 393,037
Stock Issued for Services 17,145  
Debt Discount Amortization 254,501 701,959
Loss on Debt Extinguishment 217,141 50,701
Changes in Operating Assets and Liabilities    
(Increase)/Decrease in Accounts Receivable (627,552) 191,171
(Increase)/Decrease in Prepaid Expenses and Other Current Assets 96,688 100,230
Increase/(Decrease) in Deposits from Joint Interest Owners 3,015,000  
Increase/(Decrease) in Accounts Payable and Stock Payable 607,156 (35,843)
Increase/(Decrease) in Related Party Payable 2,011 26,710
Increase/(Decrease) in Accrued Liabilities and Other Payables (100,000)  
Increase/(Decrease) in Accrued Interest 400,212 380,888
Net Cash From Operating Activities 2,683,315 (183,216)
INVESTING ACTIVITIES    
Equipment Purchases (3,244)  
Deposits (24,785)  
Investments in Oil and Gas Properties (752,814) (371,808)
Proceeds From Sale of Working Interest 2,884,651  
Net Cash From Investing Activities 2,103,808 (371,808)
FINANCING ACTIVITIES    
Proceeds from Related Party Loans   492,500
Proceeds from Convertible Promissory Notes and Warrants 200,000 150,000
Payments on Note Payable (116,882) (127,134)
Net Cash From Financing Activities 83,118 515,366
Net Increase/(Decrease) in Cash 4,870,241 (39,658)
Beginning Cash Balance 6,426 64,114
Ending Cash Balance 4,876,667 24,456
Supplemental Schedule of Cash Flow Activities    
Cash Paid for Interest 5,188 4,144
Non-Cash Financing and Investing Activities    
Prepaid Asset Financed by Note Payable 156,718 159,188
Stock Issued for Settlement of Accounts Payable & Accrued Expenses 73,505  
Stock Issued to Settle Convertible Promissory Notes and Accrued Interest 872,812  
Capital Expenditures Included in Accounts Payable 3,088 50,628
Stock-Based Compensation Capitalized to Unproved Properties 613,733 167,250
Stock Issued for Consulting Services Capitalized to Unproved Properties 4,880,000
Wells In Process Included in Accounts Payable $ 85,127