Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2019
Sep. 30, 2019
Current Assets    
Cash $ 3,771,395 $ 1,138,919
Accounts Receivable 2,739,785 8,493,308
Prepaid Expenses and Other Current Assets 214,900 137,173
Total Current Assets 6,726,080 9,769,400
Property and Equipment, net 11,479 13,014
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 21,517,313 17,338,978
Other Non-Current Assets 24,785 3,662,231
Operating Lease Right of Use Asset 92,859  
Total Non-Current Assets 21,646,436 21,014,223
Total Assets 28,372,516 30,783,623
Current Liabilities    
Accounts Payable 9,330,170 12,747,382
Related Party Payable 380,784 365,904
Accrued Interest Payable 2,379,618 2,282,217
Accrued Expenses and Other Payables 268,862 1,949,360
Loans from Related Parties 8,725,500 8,725,500
Note Payable 468,035 267,000
Notes Payable, net of Debt Discount 1,702,641 1,197,966
Derivative Financial Instruments 3,025,708 3,534,456
Current Portion of Operating Lease Liability 75,647  
Other   42,746
Total Current Liabilities 26,356,965 31,112,531
Operating Lease Liability 43,410  
Total Non-Current Liabilities 43,410  
Total Liabilities 26,400,375 31,112,531
Commitments and Contingencies (Note 9)  
Stockholders' Equity (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 1,148,609,520 and 1,092,266,844 as of December 31, 2019 and September 30, 2019, respectively 1,148,609 1,092,266
Additional Paid-in-Capital 56,542,256 54,160,836
Accumulated Deficit (55,718,724) (55,582,010)
Total Stockholders' Equity (Deficit) 1,972,141 (328,908)
Total Liabilities and Stockholders' Equity (Deficit) $ 28,372,516 $ 30,783,623