v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Mar. 31, 2017
Current Assets    
Cash $ 760,317 $ 705,234
Restricted Cash 28,834 1,684,527
Accounts Receivable 646,891 1,218,251
Inventories   202,677
Other Current Assets 228,733 119,995
Total Current Assets 1,664,775 3,930,684
Property and Equipment    
Oil and Gas Properties - Subject to Amortization 61,082,526 73,791,362
Oil and Gas Properties - Not Subject to Amortization 28,016,989 28,947,400
Other Property and Equipment 1,570 441,201
Total Property and Equipment 89,101,085 103,179,963
Accumulated Depletion, Depreciation, Amortization and Impairment (76,555,506) (67,398,804)
Total Property and Equipment, Net 12,545,579 35,781,159
Other Assets 57,510 146,369
Total Assets 14,267,864 39,858,212
Current Liabilities    
Accounts Payable 2,972,261 3,094,131
Common Stock Payable 200,000 59,471
Accrued Expenses 1,140,730 778,736
Notes Payable, Net of Discount   1,229,021
Current Portion of Long-Term Notes Payable, Net of Discount 35,691,567 43,052,628
Total Current Liabilities 40,004,558 48,213,987
Long-term Notes Payable, Net of Discount 247,403 145,695
Asset Retirement Obligation 979,159 2,045,847
Derivative Liability 5 21,662
Total Liabilities 41,231,125 50,427,191
Commitments and Contingencies (see Note 8)  
Stockholders' Deficit    
Common Stock, 500,000,000 Shares Authorized of $0.001 Par Value, 5,758,970 and 1,084,637 Shares Issued and Outstanding, respectively 5,759 1,085
Additional Paid-in Capital 141,424,282 134,920,767
Stock Dividends Distributable 2,467,910 598,650
Accumulated Deficit (170,861,622) (146,090,034)
Total Stockholders' Deficit (26,963,261) (10,568,979)
Total Liabilities and Stockholders' Deficit 14,267,864 39,858,212
Series B Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 409 552
Series C Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock $ 1 $ 1

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