v3.6.0.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2016
Mar. 31, 2016
Current Assets    
Cash $ 1,980,234 $ 197,662
Restricted Cash 2,398,929  
Accounts Receivable 2,111,782 93,523
Inventories 202,677 194,997
Other Current Assets 109,667 56,805
Total Current Assets 6,803,289 542,987
Property and Equipment    
Oil and Gas Properties (Full Cost Method) 100,555,959 48,518,512
Other Property and Equipment 437,352 420,351
Total Property and Equipment 100,993,311 48,938,863
Accumulated Depletion, Depreciation and Amortization (36,577,780) (34,748,434)
Total Property and Equipment, Net 64,415,531 14,190,429
Other Assets 121,369 58,716
Total Assets 71,340,189 14,792,132
Current Liabilities    
Accounts Payable 2,690,605 2,423,949
Common Stock Payable 23,571 71,572
Accrued Expenses 768,713 494,232
Notes Payable, Net of Discount   202,000
Current Portion of Long-Term Notes Payable, Net of Discount 9,958,110 7,153,734
Convertible Notes Payable, Net of Discount   739,817
Total Current Liabilities 13,440,999 11,085,304
Long-term Notes Payable, Net of Discount 33,619,385  
Asset Retirement Obligations 2,005,746 1,179,170
Derivative Liability 59,388 126,960
Total Liabilities 49,125,518 12,391,434
Stockholders' Equity    
Stock Dividends Distributable But Not Issued 852,516  
Additional Paid-in Capital 115,554,060 58,591,988
Accumulated Deficit (113,540,996) (56,966,795)
Total Stockholders' Equity 22,214,671 2,400,698
Total Liabilities and Stockholders' Equity 71,340,189 14,792,132
Series B Preferred Stock [Member]    
Stockholders' Equity    
Preferred Stock 14,898,038  
Series C Preferred Stock [Member]    
Stockholders' Equity    
Preferred Stock $ 4,428,955  
Series A Preferred Stock [Member]    
Stockholders' Equity    
Preferred Stock   $ 773,900

Source