v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities    
Net Loss $ (9,295,094) $ (52,175,629)
Adjustments to reconcile net losses to net cash used in operating activities:    
Depreciation, Depletion, Amortization and Accretion 1,006,989 659,682
Impairment of Oil and Gas Properties 2,150,374 48,990,520
Loss on sale of fixed assets 9,595  
Gain on Sale of Oil and Gas Properties (1,195)  
Share-Based Compensation 9,632 84,544
Amortization of Discount on Notes 601,783 593,536
Change in Fair Value of Derivative Liability (20,891) 33,080
Gain on Sale   (18,953)
Changes in Components of Working Capital and Other Assets:    
Accounts Receivable 166,111 (986,487)
Other Current Assets 82,587 (13,887)
Accounts Payable and Accrued Expenses 4,602,529 183,083
Net Cash Used in Operating Activities (687,580) (2,650,511)
Investing Cash Flows    
Cash Paid for Segundo Acquisition   (4,975,000)
Cash Paid for Oil and Gas Property Development Costs (661,442) (969,532)
Proceeds from sale of fixed assets 10,069  
Cash Paid for Other Property and Equipment   (9,696)
Cash Paid for Deposits 8,416 (62,653)
Proceeds from Sale of Oil and Gas Properties 404,287  
Net Cash Used in Investing Activities (238,670) (6,016,881)
Financing Cash Flows    
Proceeds from Issuance of Notes Payable 150,000 43,140,000
Principal Repayments of Notes Payable (1,360,087) (31,254,812)
Proceeds from Issuance of Convertible Notes   150,000
Cash Released from Restricted Cash 1,517,086 (3,124,444)
Proceeds from Issuance of Series C Preferred Stock and Warrants   500,000
Stock Placement Fees Paid   (79,857)
Net Cash Provided by Financing Activities 306,999 9,330,887
(Decrease) Increase in Cash (619,251) 663,495
Cash at Beginning of the Period 705,234 197,662
Cash at End of the Period $ 85,983 $ 861,157

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