v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities    
Net Income (Loss) $ 18,130,185 $ (18,391,903)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation, Depletion, Amortization and Accretion 464,952 1,443,765
Impairment of Oil and Gas Properties 1,304,785 4,025,374
Loss on Sale of Fixed Assets   6,503
(Gain)/Loss on Sale of Oil and Gas Properties (25,808,246) 3,850,266
Share-Based Compensation 343,630 963,280
Amortization of Discount on Notes 1,499,647 867,017
Change in Fair Value of Derivative Liability   (20,919)
Changes in Components of Working Capital and Other Assets:    
Accounts Receivable 576,320 (211,320)
Other Current Assets (3,444) (327,326)
Accounts Payable and Accrued Expenses (696,281) 4,176,296
Net Cash Used in Operating Activities (4,188,452) (3,618,967)
Investing Cash Flows    
Cash Paid for Oil and Gas Property Development Costs (2,187,302) (1,208,571)
Proceeds from Sale Fixed Assets   10,069
Cash Paid for (Proceeds from) Deposits (141,009) 8,416
Proceeds from Sale of Oil and Gas Properties and Fixed Assets   1,947,559
Net Cash (Used in) Provided by Investing Activities (2,328,311) 757,473
Financing Cash Flows    
Proceeds from Issuance of Notes Payable   150,000
Principal Repayments of Notes Payable   (2,361,703)
Proceeds from Issuance of Series C Preferred Stock and Warrants 15,000,000 4,000,000
Net Cash Provided by Financing Activities 15,000,000 1,788,297
(Decrease) Increase in Cash and Restricted Cash 8,483,237 (1,073,197)
Cash and Restricted Cash at Beginning of the Period 789,151 2,389,761
Cash and Restricted Cash at End of the Period $ 9,272,388 $ 1,316,564

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