v3.8.0.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Current Assets    
Cash $ 947,242 $ 705,234
Restricted Cash 369,322 1,684,527
Accounts Receivable 1,429,571 1,218,251
Inventories 202,677
Other Current Assets 447,321 119,995
Total Current Assets 3,193,456 3,930,684
Property and Equipment    
Oil and Gas Properties - Subject to Amortization 60,077,450 73,791,362
Oil and Gas Properties - Not Subject to Amortization 23,267,973 28,947,400
Other Property and Equipment 1,570 441,201
Total Property and Equipment 83,346,993 103,179,963
Accumulated Depletion, Depreciation, Amortization and Impairment (68,492,131) (67,398,804)
Total Property and Equipment, Net 14,854,862 35,781,159
Other Assets 137,953 146,369
Total Assets 18,186,271 39,858,212
Current Liabilities    
Accounts Payable 3,418,819 3,094,131
Common Stock Payable 230,960 59,471
Accrued Expenses 1,156,061 778,736
Notes Payable, Net of Discount   1,229,021
Current Portion of Long-Term Notes Payable, Net of Discount 35,958,029 43,052,628
Total Current Liabilities 40,763,869 48,213,987
Long-term Notes Payable, Net of Discount 223,253 145,695
Asset Retirement Obligations 812,942 2,045,847
Derivative Liability 743 21,662
Total Liabilities 41,800,807 50,427,191
Commitments and Contingencies  
Stockholders' Deficit    
Common Stock, 500,000,000 Shares Authorized of $0.001 Par, 77,300,904 and 27,115,868 Shares Issued and Outstanding, respectively 77,301 27,116
Additional Paid-in Capital 138,994,171 134,894,736
Stock Dividends Distributable 1,795,519 598,650
Accumulated Deficit (164,481,937) (146,090,034)
Total Stockholders' Deficit (23,614,536) (10,568,979)
Total Liabilities and Stockholders' Deficit 18,186,271 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, 817 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, 817 and 404 Shares Issued and Outstanding, respectively $ 1 $ 1

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