Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.20.2
Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2020
Sep. 30, 2019
Current Assets    
Cash $ 2,815,558 $ 1,138,919
Accounts Receivable 2,717,823 8,493,308
Prepaid Expenses and Other Current Assets 165,534 137,173
Total Current Assets 5,698,915 9,769,400
Property and Equipment, net 9,775 13,014
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 21,346,756 17,338,978
Other Non-Current Assets 24,785 3,662,231
Operating Lease Right of Use Asset 80,978  
Total Non-Current Assets 21,462,294 21,014,223
Total Assets 27,161,209 30,783,623
Current Liabilities    
Accounts Payable 7,571,042 12,747,382
Related Party Payable 395,664 365,904
Accrued Interest Payable 2,549,425 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 408,705 267,000
Convertible Notes Payable, net of Debt Discount 2,079,917 1,197,966
Derivative Financial Instruments 2,217,222 3,534,456
Current Portion of Operating Lease Liability 68,391  
Other   42,746
Total Current Liabilities 24,284,728 31,112,531
Operating Lease Liability, net of Current Portion 29,299  
Total Non-Current Liabilities 29,299  
Total Liabilities 24,314,027 31,112,531
Commitments and Contingencies  
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 1,212,337,346 and 1,092,266,844 as of March 31, 2020 and September 30, 2019, respectively 1,212,337 1,092,266
Additional Paid-in-Capital 57,988,449 54,160,836
Accumulated Deficit (56,353,604) (55,582,010)
Total Stockholders' Equity (Deficit) 2,847,182 (328,908)
Total Liabilities and Stockholders' Equity (Deficit) $ 27,161,209 $ 30,783,623