Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS - USD ($)
Sep. 30, 2019
Sep. 30, 2018
Current Assets    
Cash $ 1,138,919 $ 5,621,814
Accounts Receivable, Net 8,493,308 6,286,796
Prepaid Expenses and Other Current Assets 137,173 32,042
Total Current Assets 9,769,400 11,940,652
Property and Equipment, net of depreciation 13,014 14,786
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 17,338,978 8,112,784
Other Non-Current Assets 3,662,231 24,785
Total Non-Current Assets 21,014,223 8,152,355
Total Assets 30,783,623 20,093,007
Current Liabilities    
Accounts Payable 12,747,382 7,591,236
Deposits from Joint Interest Owners   4,078,786
Related Party Payable 365,904 306,386
Accrued Interest Payable 2,282,217 1,732,239
Accrued Liabilities and Other Payables 1,949,360 268,862
Loans from Related Parties 8,725,500 9,084,500
Notes Payable 267,000  
Promissory Notes Payable 1,197,966 135,000
Derivative Financial Instruments 3,534,456 271,710
Funds Received from Capital Raise   965,800
Other 42,746 44,723
Total Current Liabilities 31,112,531 24,479,242
Total Liabilities 31,112,531 24,479,242
Commitments and Contingencies (Note 11)  
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 as of September 30, 2019 and 2018; issued and outstanding 1,092,266,844 and 832,013,272, as of September 30, 2019 and 2018, respectively 1,092,266 832,013
Additional Paid-in-Capital 54,160,836 36,640,009
Accumulated Deficit (55,582,010) (41,858,257)
Total Stockholders' Deficit (328,908) (4,386,235)
Total Liabilities and Stockholders' Deficit $ 30,783,623 $ 20,093,007