v3.10.0.1
Condensed Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2018
Sep. 30, 2018
Current Assets    
Cash $ 3,796,786 $ 5,621,814
Accounts Receivable - Joint Interest Owners 12,994,430 6,286,796
Prepaid Expenses and Other Current Assets 139,468 32,042
Total Current Assets 16,930,684 11,940,652
Property and Equipment, Net of Depreciation 13,477 14,786
Oil and Natural Gas Properties, Full Cost Method of Accounting Unproved Properties 11,203,790 8,112,784
Other Non-Current Assets 24,785 24,785
Total Non-Current Assets 11,242,052 8,152,355
Total Assets 28,172,736 20,093,007
Current Liabilities    
Accounts Payable 17,841,835 7,591,236
Deposit from Joint Interest Owners 1,456,786 4,078,786
Related Party Payable 321,264 306,386
Accrued Interest Payable 1,852,044 1,732,239
Accrued Expenses and Other Payables 268,862 268,862
Loans from Related Parties 8,725,500 9,084,500
Notes Payable 387,275  
Convertible Promissory Notes Payable 227,000 135,000
Derivative Financial Instrument 467,976 271,710
Funds Received from Capital Raise   965,800
Other 75,040 44,723
Total Current Liabilities 31,623,582 24,479,242
Total Liabilities 31,623,582 24,479,242
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 851,338,272 and 832,013,272 as of December 31, 2018 and September 30, 2018,, respectively 851,337 832,013
Additional Paid-in-Capital 37,979,934 36,640,009
Accumulated Deficit (42,282,117) (41,858,257)
Total Stockholders' Deficit (3,450,846) (4,386,235)
Total Liabilities and Stockholders' Deficit $ 28,172,736 $ 20,093,007

Source

v3.10.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Revenues  
General & Administrative Expenses 129,438 $ 289,327
Net Loss from Operations (129,438) (289,327)
Other Income/(Expenses):    
Interest Expense, net (98,157) (225,077)
Loss on Derivative Financial Instrument (196,266)  
Net Loss Before Income Taxes (423,861) (514,404)
Provision for Income Taxes  
Net Loss $ (423,861) $ (514,404)
Loss Per Share - Basic and Diluted (in dollars per share) $ 0.00 $ 0.00
Weighted Average Shares Outstanding - Basic and Diluted (in shares) 832,013,373 696,744,886

Source

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES    
Net Loss $ (423,861) $ (514,404)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Depreciation 1,309 2,174
Stock Based Compensation 74,342 65,506
Debt Discount Amortization   78,864
Loss on Derivative Financial Instrument 196,266  
Changes in Operating Assets and Liabilities:    
(Increase)/Decrease in Accounts Receivable - Joint Interest Owners (6,707,634)  
(Increase)/Decrease in Prepaid Expenses and Other Current Assets 38,883 38,798
Increase/(Decrease) in Deposits from Joint Interest Owners (2,622,000)  
Increase/(Decrease) in Accounts Payable 8,890,616 3,067
Increase/(Decrease) in Related Party Payable 14,878 5,916
Increase/(Decrease) in Other 30,317  
Increase/(Decrease) in Accrued Interest 119,805 144,205
Net Cash Used In Operating Activities (387,079) (175,874)
INVESTING ACTIVITIES    
Leases Purchased / Lease Rentals Paid (21,000)  
Investments in Oil and Natural Gas Properties (1,390,914) (183,185)
Proceeds From Sale of Working Interest   290,589
Net Cash (Used In)/Provided By Investing Activities (1,411,914) 107,404
FINANCING ACTIVITIES    
Proceeds from Convertible Promissory Notes and Warrants   200,000
Payments on Note Payable (26,035) (29,473)
Net Cash (Used In)/Provided By Financing Activities (26,035) 170,527
Net Increase/(Decrease) in Cash (1,825,028) 102,057
Beginning Cash Balance 5,621,814 6,426
Ending Cash Balance 3,796,786 108,483
Supplemental Schedule of Cash Flow Activities:    
Cash Paid for Interest 1,335 2,008
Non-Cash Financing and Investing Activities:    
Prepaid Insurance Financed by Note Payable 146,310 156,718
Capital Expenditures Included in Accounts Payable 1,360,433 9,238
Stock-Based Compensation Capitalized to Unproved Properties 318,658 $ 27,875
Funds Received from Capital Raise Transferred to Equity $ 965,800  

Source