Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

v3.20.4
BALANCE SHEETS - USD ($)
Sep. 30, 2020
Sep. 30, 2019
Current Assets    
Cash $ 3,190,418 $ 1,138,919
Accounts Receivable, Net 366,173 8,493,308
Prepaid Expenses and Other Current Assets 84,129 137,173
Total Current Assets 3,640,720 9,769,400
Property and Equipment, net 6,347 13,014
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 12,372,853 17,338,978
Other Non-Current Assets   3,662,231
Operating Lease Right of Use Asset 54,768  
Total Non-Current Assets 12,433,968 21,014,223
Total Assets 16,074,688 30,783,623
Current Liabilities    
Accounts Payable 228,892 12,747,382
Related Party Payable 417,984 365,904
Accrued Interest Payable 2,616,008 2,282,217
Accrued Liabilities and Other Payables 268,863 1,949,360
Loans from Related Parties 8,725,500 8,725,500
Notes Payable 120,827 267,000
Convertible Notes Payable, net of discount 461,613 1,197,966
Derivative Financial Instruments 1,070,551 3,534,456
Current Portion of Operating Lease Liability 62,074  
Other   42,746
Total Current Liabilities 13,972,312 31,112,531
Total Liabilities 13,972,312 31,112,531
Commitments and Contingencies (Note 11)  
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 as of September 30, 2020 and 2019; issued and outstanding 1,250,740,346 and 1,092,266,844, as of September 30, 2020 and 2019, respectively 1,250,740 1,092,266
Additional Paid-in Capital 58,728,308 54,160,836
Additional Paid-in Capital - Shares to Be Issued 105,000  
Accumulated Deficit (57,981,672) (55,582,010)
Total Stockholders' Equity (Deficit) 2,102,376 (328,908)
Total Liabilities and Stockholders' Equity (Deficit) $ 16,074,688 $ 30,783,623