Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities      
Net Income (Loss) $ 23,228,366 $ (1,564,562) $ 19,716,269
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation, Depletion, Amortization and Accretion   72,702 463,926
Impairment of Oil and Gas Properties 224,309   755,966
Bad Debt Expense   17,694  
Gain on Sale of Oil and Gas Properties (25,808,246)   (25,808,246)
Share-Based Compensation   27,690 343,629
Amortization of Right of Use Assets   156,133  
Change in fair value of derivatives   (5)  
Amortization of Discount on Notes     1,298,275
Changes in operating assets and liabilities:      
Accounts Receivable   (449,363) 595,248
Costs in Excess of Billings   (827,489)  
Other Current Assets   258,088 109,163
Accounts Payable and Accrued Expenses   (333,927) 691,994
Billings in Excess of Costs   90,082  
Operating Lease Liabilities   (156,133)  
Net Cash Used in Operating Activities   (2,709,090) (1,833,776)
Cash Flows from Investing Activities      
Cash Acquired in Acquisition   449,763  
Cash Paid for Fixed Asset Additions   (628,087) (2,482,788)
Cash Paid for Deposits   (31,534) (141,009)
Net Cash Provided by (Used in) Investing Activities   (209,858) (2,623,797)
Cash Flows from Financing Activities      
Repayments of Finance Lease Liabilities   (37,457)  
Repayment of Shareholder Loan   (492,337)  
Proceeds from Notes Payable   566,455  
Repayment of Notes Payable   (37,800)  
Cash Paid for Settlement of Series B Preferred Stock Warrants   (25,000)  
Proceeds from Issuance of Series C Preferred Stock     9,000,000
Net Cash Provided by (Used In) Financing Activities   (26,139) 9,000,000
(Decrease) Increase in Cash and Restricted Cash   (2,945,087) 4,542,427
Cash and Restricted Cash at Beginning of the Period   7,778,723 789,151
Cash and Restricted Cash at End of the Period $ 5,331,578 $ 4,833,636 $ 5,331,578