Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net Loss $ (1,723,821) $ (3,493,396)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Impairment of Oil and Natural Gas Properties 2,124,885
Capitalization of Interest Expense (2,345,278)
Depreciation 5,625 4,944
Stock Based Compensation 65,100 470,457
(Gain) Loss on Derivative Financial Instruments 307,939 (1,503,392)
Debt Discount Amortization 69,525 1,690,260
Loss Recorded to Interest Expense for Issuance of Convertible Notes 32,539
(Gain) Loss on Debt Extinguishment (136,640) 1,617,036
Changes in Operating Assets and Liabilities:    
Accounts Receivable 37,232 4,261,064
Prepaid Expenses and Other Current Assets (34,576) 255,054
Accounts Payable (187,239) (3,855,582)
Related Party Payable 44,640
Accrued Interest Payable 345,810 604,951
Operating Lease Liabilities 2,598 (27,834)
Net Cash Used In Operating Activities (1,248,447) (119,652)
INVESTING ACTIVITIES    
Insurance Proceeds Received 223,650 1,190,469
Purchases of Property and Equipment (2,165)
Proceeds from Disposal of Property and Equipment 133,108
Investments in Oil and Gas Properties (136,151) (1,546,210)
Net Cash Provided By (Used In) Investing Activities 218,442 (355,741)
FINANCING ACTIVITIES    
Proceeds from Issuance of Convertible Notes Payable 535,300
Payments on Notes Payable (320,527) (139,089)
Net Cash Provided By (Used In) Financing Activities (320,527) 396,211
Net Decrease in Cash (1,350,532) (79,182)
Beginning Cash Balance 3,190,418 1,138,919
Ending Cash Balance 1,839,886 1,059,737
Supplemental Schedule of Cash Flow Activities:    
Cash Paid for Interest, Net of Amounts Capitalized 424 5,272
Non-Cash Financing and Investing Activities:    
Prepaid Asset Financed by Note Payable 220,629
Capital Expenditures in Accounts Payable 1,324 480,998
Stock-Based Compensation Capitalized to Oil and Gas properties 497,800
Accounts Receivable Exchanged for Working Interest in Oil and Natural Gas Properties 3,629,789
Accrued Expense Extinguished through Issuance of Common Stock 1,613,775
Common Stock Issued upon Conversion of Convertible Notes Payable and Accrued Interest 105,000 2,080,626
Derivative Liability Related to Issued Convertible Note 433,425
Warrants issued to Extend Maturity of Debt Instrument 86,902 19,300
Reduction of Oil and Natural Gas Properties Due to Credits Received 2,053,195
Accounts Receivable Recovery Through Credits Received $ 3,906,972