Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.10.0.1
Condensed Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2018
Sep. 30, 2018
Current Assets    
Cash $ 3,796,786 $ 5,621,814
Accounts Receivable - Joint Interest Owners 12,994,430 6,286,796
Prepaid Expenses and Other Current Assets 139,468 32,042
Total Current Assets 16,930,684 11,940,652
Property and Equipment, Net of Depreciation 13,477 14,786
Oil and Natural Gas Properties, Full Cost Method of Accounting Unproved Properties 11,203,790 8,112,784
Other Non-Current Assets 24,785 24,785
Total Non-Current Assets 11,242,052 8,152,355
Total Assets 28,172,736 20,093,007
Current Liabilities    
Accounts Payable 17,841,835 7,591,236
Deposit from Joint Interest Owners 1,456,786 4,078,786
Related Party Payable 321,264 306,386
Accrued Interest Payable 1,852,044 1,732,239
Accrued Expenses and Other Payables 268,862 268,862
Loans from Related Parties 8,725,500 9,084,500
Notes Payable 387,275  
Convertible Promissory Notes Payable 227,000 135,000
Derivative Financial Instrument 467,976 271,710
Funds Received from Capital Raise   965,800
Other 75,040 44,723
Total Current Liabilities 31,623,582 24,479,242
Total Liabilities 31,623,582 24,479,242
Stockholders' Deficit    
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares none issued or outstanding  
Common Stock; par value ($0.001); Authorized 1,500,000,000 shares; issued and outstanding 851,338,272 and 832,013,272 as of December 31, 2018 and September 30, 2018,, respectively 851,337 832,013
Additional Paid-in-Capital 37,979,934 36,640,009
Accumulated Deficit (42,282,117) (41,858,257)
Total Stockholders' Deficit (3,450,846) (4,386,235)
Total Liabilities and Stockholders' Deficit $ 28,172,736 $ 20,093,007