v3.10.0.1
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Sep. 30, 2017
Current Assets    
Cash $ 4,876,667 $ 6,426
Accounts Receivable - Joint Interest Owners 627,552  
Prepaid Expenses and Other Current Assets 125,387 40,573
Total Current Assets 5,629,606 46,999
Property and Equipment, Net of Depreciation 3,016 3,484
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Unproved Properties 5,334,903 1,887,879
Total Non-Current Assets 5,337,919 1,891,363
Total Assets 10,967,525 1,938,362
Current Liabilities    
Accounts Payable 1,145,024 476,244
Deposit from Joint Interest Owners 3,015,000  
Related Party Payable 300,469 298,458
Accrued Interest Payable 1,625,589 1,318,188
Accrued Expenses and Other Payables 1,171,927 1,321,927
Loans from Related Parties 8,992,500 9,155,581
Notes Payable 43,526 3,690
Convertible Promissory Notes Payable 307,000 669,419
Stock Payable 11,605
Total Current Liabilities 16,601,035 13,255,112
Total Liabilities 16,601,035 13,255,112
Stockholders' 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 813,800,512 and 692,196,625 as of June 30, 2018 and June 30, 2017 respectively 813,800 692,196
Additional Paid-in-Capital 34,827,711 27,212,577
Accumulated Deficit (41,275,021) (39,221,523)
Total Stockholders' Deficit (5,633,510) (11,316,750)
Total Liabilities and Stockholders' Deficit $ 10,967,525 $ 1,938,362

Source

v3.10.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Revenues    
Impairment of Oil and Natural Gas Properties 3,316,212 3,316,212
General & Administrative Expenses 785,990 67,857 1,176,455 744,682
Net Loss from Operations (785,990) (3,384,069) (1,176,455) (4,060,894)
Other Income/(Expenses):        
Interest Expense (207,335) (383,457) (659,901) (1,085,625)
Loss on Debt Extinguishment (50,701) (217,141) (50,701)
Net Loss Before Income Taxes (993,325) (3,818,227) (2,053,497) (5,197,220)
Provision for Income Taxes
Net Loss $ (993,325) $ (3,818,227) $ (2,053,497) $ (5,197,220)
Loss Per Share - Basic and Diluted (in dollars per share) $ (0.00) $ (0.01) $ (0.00) $ (0.01)
Weighted Average Shares Outstanding - Basic and Diluted (in shares) 785,008,992 685,152,225 750,498,503 683,955,339

Source

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net Loss $ (2,053,497) $ (5,197,220)
Adjustments to reconcile net loss to net cash From Operating Activities:    
Impairment of Oil and Natural Gas Properties 3,316,212
Changes in Allowance for Doubtful Accounts Receivable   (128,024)
Depreciation 3,712 17,763
Stock Based Compensation 850,798 393,037
Stock Issued for Services 17,145  
Debt Discount Amortization 254,501 701,959
Loss on Debt Extinguishment 217,141 50,701
Changes in Operating Assets and Liabilities    
(Increase)/Decrease in Accounts Receivable (627,552) 191,171
(Increase)/Decrease in Prepaid Expenses and Other Current Assets 96,688 100,230
Increase/(Decrease) in Deposits from Joint Interest Owners 3,015,000  
Increase/(Decrease) in Accounts Payable and Stock Payable 607,156 (35,843)
Increase/(Decrease) in Related Party Payable 2,011 26,710
Increase/(Decrease) in Accrued Liabilities and Other Payables (100,000)  
Increase/(Decrease) in Accrued Interest 400,212 380,888
Net Cash From Operating Activities 2,683,315 (183,216)
INVESTING ACTIVITIES    
Equipment Purchases (3,244)  
Deposits (24,785)  
Investments in Oil and Gas Properties (752,814) (371,808)
Proceeds From Sale of Working Interest 2,884,651  
Net Cash From Investing Activities 2,103,808 (371,808)
FINANCING ACTIVITIES    
Proceeds from Related Party Loans   492,500
Proceeds from Convertible Promissory Notes and Warrants 200,000 150,000
Payments on Note Payable (116,882) (127,134)
Net Cash From Financing Activities 83,118 515,366
Net Increase/(Decrease) in Cash 4,870,241 (39,658)
Beginning Cash Balance 6,426 64,114
Ending Cash Balance 4,876,667 24,456
Supplemental Schedule of Cash Flow Activities    
Cash Paid for Interest 5,188 4,144
Non-Cash Financing and Investing Activities    
Prepaid Asset Financed by Note Payable 156,718 159,188
Stock Issued for Settlement of Accounts Payable & Accrued Expenses 73,505  
Stock Issued to Settle Convertible Promissory Notes and Accrued Interest 872,812  
Capital Expenditures Included in Accounts Payable 3,088 50,628
Stock-Based Compensation Capitalized to Unproved Properties 613,733 167,250
Stock Issued for Consulting Services Capitalized to Unproved Properties 4,880,000
Wells In Process Included in Accounts Payable $ 85,127

Source