Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.20.2
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2020
Sep. 30, 2019
Current Assets    
Cash $ 1,059,737 $ 1,138,919
Accounts Receivable 341,675 8,493,308
Prepaid Expenses and Other Current Assets 102,748 137,173
Total Current Assets 1,504,160 9,769,400
Property and Equipment, net 8,070 13,014
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 19,059,891 17,338,978
Other Non-Current Assets 24,785 3,662,231
Operating Lease Right of Use Asset 68,558  
Total Non-Current Assets 19,161,304 21,014,223
Total Assets 20,665,464 30,783,623
Current Liabilities    
Accounts Payable 2,084,138 12,747,382
Related Party Payable 410,544 365,904
Accrued Interest Payable 2,725,253 2,282,217
Accrued Expenses and Other Payables 268,862 1,949,360
Loans from Related Parties 8,725,500 8,725,500
Notes Payable 448,838 267,000
Convertible Notes Payable, net of Debt Discount 2,904,649 1,197,966
Derivative Financial Instruments 2,238,053 3,534,456
Current Portion of Operating Lease Liability 60,955  
Other   42,746
Total Current Liabilities 19,866,792 31,112,531
Operating Lease Liability, net of Current Portion 14,831  
Total Non-Current Liabilities 14,831  
Total Liabilities 19,881,623 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 1,236,247,593 and 1,092,266,844 as of June 30, 2020 and September 30, 2019, respectively 1,236,247 1,092,266
Additional Paid-in-Capital 58,606,569 54,160,836
Accumulated Deficit (59,058,975) (55,582,010)
Total Stockholders' Equity (Deficit) 783,841 (328,908)
Total Liabilities and Stockholders' Equity (Deficit) $ 20,665,464 $ 30,783,623