v3.20.4
Condensed Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2020
Sep. 30, 2020
Current Assets    
Cash $ 2,558,646 $ 3,190,418
Accounts Receivable   366,173
Prepaid Expenses and Other Current Assets 269,354 84,129
Total Current Assets 2,828,000 3,640,720
Property and Equipment, net 4,624 6,347
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 12,453,023 12,372,853
Operating Lease Right of Use Asset 41,441 54,768
Total Non-Current Assets 12,499,088 12,433,968
Total Assets 15,327,088 16,074,688
Current Liabilities    
Accounts Payable 178,393 228,892
Related Party Payable 417,983 417,984
Accrued Interest Payable 2,731,983 2,616,008
Accrued Expenses and Other Payables 268,863 268,863
Loans from Related Parties 8,725,500 8,725,500
Notes Payable   120,827
Convertible Notes Payable, net of Debt Discount 220,656 461,613
Derivative Financial Instruments 972,552 1,070,551
Current Portion of Operating Lease Liability 67,271 62,074
Total Current Liabilities 13,583,201 13,972,312
Total Liabilities 13,583,201 13,972,312
Commitments and Contingencies  
Stockholders' Equity    
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 1,268,240,346 and 1,250,740,346 as of December 31, 2020 and September 30, 2020, respectively 1,268,240 1,250,740
Additional Paid-in-Capital 58,815,808 58,728,308
Additional Paid-in Capital - Shares to Be Issued   105,000
Accumulated Deficit (58,340,161) (57,981,672)
Total Stockholders' Equity 1,743,887 2,102,376
Total Liabilities and Stockholders' Equity $ 15,327,088 $ 16,074,688

Source

v3.20.4
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]    
Revenues  
General and Administrative Expenses 382,116 $ 476,922
Net Loss from Operations (382,116) (476,922)
Other Income/(Expenses):    
Interest Expense, net (164,751) (21,226)
Gain (Loss) on Debt Extinguishment 136,640 (879,522)
Gain on Derivative Financial Instruments 51,738 1,224,527
Net Loss Before Income Taxes (358,489) (153,143)
Provision for Income Taxes  
Net Loss $ (358,489) $ (153,143)
Loss Per Share - Basic and Diluted (in dollars per share) $ 0.00 $ 0.00
Weighted Average Shares Outstanding - Basic and Diluted (in shares) 1,266,534,389 1,105,662,883

Source

v3.20.4
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net Loss $ (358,489) $ (153,143)
Adjustments to Reconcile Net Loss to Net Cash Provided By (Used In) Operating Activities:    
Capitalization of Interest Expense   (442,338)
Depreciation 1,723 1,535
Stock Based Compensation   181,166
Gain on Derivative Financial Instruments (51,738) (1,224,527)
Debt Discount Amortization 48,460 238,039
Loss Recorded to Interest Expense for Issuance of Convertible Notes   32,539
(Gain) Loss on Debt Extinguishment (136,640) 879,522
Changes in Operating Assets and Liabilities:    
Accounts Receivable 189,729 5,769,927
Prepaid Expenses and Other Current Assets (185,225) 142,902
Accounts Payable (103,046) (3,086,387)
Related Party Payable   14,880
Accrued Interest Payable 116,637 204,298
Operating Lease Liabilities 18,523 (8,864)
Net Cash Provided By (Used In) Operating Activities (460,066) 2,549,549
INVESTING ACTIVITIES    
Insurance Proceeds Received 223,650 637,875
Investments in Oil and Gas Properties (74,829) (970,353)
Net Cash Provided By (Used In) Investing Activities 148,821 (332,478)
FINANCING ACTIVITIES    
Proceeds from Issuance of Convertible Notes Payable   435,000
Payments on Notes Payable (320,527) (19,594)
Net Cash Provided By (Used In) Financing Activities (320,527) 415,406
Net Increase (Decrease) in Cash (631,772) 2,632,477
Beginning Cash Balance 3,190,418 1,138,919
Ending Cash Balance 2,558,646 3,771,395
Supplemental Schedule of Cash Flow Activities:    
Cash Paid for Interest, Net of Amounts Capitalized 96 1,030
Non-Cash Financing and Investing Activities:    
Prepaid Asset Financed by Note Payable   220,629
Capital Expenditures in Accounts Payable 5,341 480,900
Stock-Based Compensation Capitalized to Oil and Gas properties   186,675
Accounts Receivable Exchanged for Working Interest in Oil and Natural Gas Properties   3,629,789
Accrued Expense Extinguished through Issuance of Common Stock   1,536,929
Common Stock Issued upon Conversion of Convertible Notes Payable and Accrued Interest $ 17,500 548,391
Derivative Liability Related to Issued Convertible Note   433,425
Convertible Debenture Proceeds Retained by Lender to Settle Loan Issuance Costs   $ 65,000

Source