v3.8.0.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2017
Mar. 31, 2017
Current Assets    
Cash $ 85,983 $ 705,234
Restricted Cash 167,441 1,684,527
Accounts Receivable 1,052,139 1,218,251
Inventories 202,677 202,677
Other Current Assets 37,407 119,995
Total Current Assets 1,545,647 3,930,684
Property and Equipment    
Oil and Gas Properties - Subject to Amortization 74,456,947 73,791,362
Oil and Gas Properties - Not Subject to Amortization 26,371,596 28,947,400
Other Property and Equipment 237,669 441,201
Total Property and Equipment 101,066,212 103,179,963
Accumulated Depletion, Depreciation and Amortization (68,252,100) (67,398,804)
Total Property and Equipment, Net 32,814,112 35,781,159
Other Assets 137,953 146,369
Total Assets 34,497,712 39,858,212
Current Liabilities    
Accounts Payable 4,328,346 3,094,131
Common Stock Payable 30,960 59,471
Accrued Expenses 3,718,889 778,736
Notes Payable, Net of Discount 1,428,550 1,229,021
Current Portion of Long-Term Notes Payable, Net of Discount 42,157,023 43,052,628
Total Current Liabilities 51,663,748 48,213,987
Long-term Notes Payable, Net of Discount 198,466 145,695
Asset Retirement Obligations 2,106,102 2,045,847
Derivative Liability 771 21,662
Total Liabilities 53,969,087 50,427,191
Commitments and Contingencies
Stockholders' Deficit    
Common Stock, 200,000,000 Shares Authorized of $0.001 Par, 44,711,510 and 27,115,868 Shares Issued and Outstanding, respectively 44,712 27,116
Additional Paid-in Capital 134,586,858 134,894,736
Stock Dividends Distributable 1,281,773 598,650
Accumulated Deficit (155,385,128) (146,090,034)
Total Stockholders' Deficit (19,471,375) (10,568,979)
Total Liabilities and Stockholders' Deficit 34,497,712 39,858,212
Series B Preferred Stock [Member]    
Stockholders' Deficit    
Preferred Stock Series A, 2,000 Shares Authorized of $0.001 Par, -0- Shares Issued and Outstanding, Series B, 600,000 Shares Authorized of $0.001 Par, 408,508 and 552,000 Shares Issued and Outstanding, respectively, Series C, 500,000 Shares Authorized of $0.001 Par, 394 and 404 Shares Issued and Outstanding, respectively 409 552
Series C Preferred Stock [Member]    
Stockholders' Deficit    
Preferred Stock Series A, 2,000 Shares Authorized of $0.001 Par, -0- Shares Issued and Outstanding, Series B, 600,000 Shares Authorized of $0.001 Par, 408,508 and 552,000 Shares Issued and Outstanding, respectively, Series C, 500,000 Shares Authorized of $0.001 Par, 394 and 404 Shares Issued and Outstanding, respectively $ 1 $ 1

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