Annual report pursuant to Section 13 and 15(d)

CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

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CORRECTION OF IMMATERIAL ERROR IN PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
12 Months Ended
Sep. 30, 2019
Correction Of Immaterial Error In Previously Issued Financial Statements  
Schedule of financial statements

The following tables reflect the amounts within the balance sheet, statement of operations and statement of cash flows as originally reported to amounts as now reflected as of and for the quarters ended December 31, 2018, March 31, 2019, and June 30, 2019.

 

    December 31, 2018  
    As Originally
reported
    Adjustment     Corrected  
Balance Sheet                        
Oil and Natural Gas Properties   $ 11,203,790     $ 77,542     $ 11,281,332  
Total Assets   $ 28,172,736     $ 77,542     $ 28,250,278  
Accumulated Deficit   $ (42,282,117 )   $ 77,542     $ (42,204,575 )
Total Liabilities and Stockholders’ Deficit   $ 28,172,736     $ 77,542     $ 28,250,278  
                         
    March 31, 2019  
      As Originally
reported
      Adjustment       Corrected  
Balance Sheet                        
Oil and Natural Gas Properties   $ 16,892,281     $ 183,299     $ 17,075,580  
Total Assets   $ 32,438,825     $ 183,299     $ 32,622,124  
Accumulated Deficit   $ (47,695,556 )   $ 183,299     $ (47,512,257 )
Total Liabilities and Stockholders’ Deficit   $ 32,438,825     $ 183,299     $ 32,622,124  
                         
    June 30, 2019  
      As Originally
reported
      Adjustment       Corrected  
Balance Sheet                        
Oil and Natural Gas Properties   $ 17,318,916     $ 554,086     $ 17,873,002  
Total Assets   $ 37,551,079     $ 554,086     $ 38,105,165  
Accumulated Deficit   $ (54,574,356 )   $ 554,086     $ (54,020,270 )
Total Liabilities and Stockholders’ Deficit   $ 37,551,079     $ 554,086     $ 38,105,165  

 

 

    Three Months Ended December 31, 2018  
    As Originally reported     Adjustment     Corrected  
                   
Statement of Operations                        
Interest Expense, net
  $ (98,157 )   $ 77,542     $ (20,615 )
Net Loss   $ (423,861 )   $ 77,542     $ (346,319 )
                         
Statement of Cash Flows                        
Net Loss   $ (423,861 )   $ 77,542     $ (346,319 )
Capitalized Interest Expense   $     $ (77,542 )   $ (77,542 )
                                     
    Three Months Ended March 31, 2019     Six Months Ended March 31, 2019  
    As Originally reported     Adjustment     Corrected     As Originally reported     Adjustment     Corrected  
                                     
Statements of Operations                                                
Interest Expense, net   $ (106,152 )   $ 105,757     $ (395 )   $ (204,309 )   $ 183,299     $ (21,010 )
Net Loss   $ (5,413,439 )   $ 105,757     $ (5,307,682 )   $ (5,837,299 )   $ 183,299     $ (5,654,000 )
                                                 
Statement of Cash Flows                                                
Net Loss                           $ (5,837,299 )   $ 183,299     $ (5,654,000 )
Capitalized Interest Expense                           $     $ (183,299 )   $ (183,299 )
                                     
    Three Months Ended June 30, 2019     Nine Months Ended June 30, 2019  
    As Originally reported     Adjustment     Corrected     As Originally reported     Adjustment     Corrected  
                                     
Statements of Operations                                                
Interest Expense, net   $ (2,080,620 )   $ 370,787     $ (1,709,833 )   $ (2,284,928 )   $ 554,086     $ (1,730,842 )
Net Loss   $ (6,878,800 )   $ 370,787     $ (6,508,013 )   $ (12,716,099 )   $ 554,086     $ (12,162,013 )
                                                 
Statement of Cash Flows                                                
Net Loss                           $ (12,716,099 )   $ 554,086     $ (12,162,013 )
Capitalized Interest Expense                           $     $ (554,086 )   $ (554,086 )