Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2019
Mar. 31, 2019
Current Assets    
Cash $ 2,253,739 $ 7,778,723
Accounts Receivable, Net of Allowance 176,038 129,037
Other Current Assets   263,205
Total Current Assets 2,429,777 8,170,965
Property and Equipment    
Oil and Gas Properties - Subject to Amortization 50,504,527 50,528,953
Oil and Gas Properties - Not Subject to Amortization 28,016,989 28,016,989
Other Property and Equipment 1,570 1,570
Total Property and Equipment 78,523,086 78,547,512
Accumulated Depletion, Depreciation, Amortization and Impairment (78,346,620) (78,334,324)
Total Property and Equipment, Net 176,466 213,188
Notes Receivable 2,339,719  
Other Assets 155,053 198,519
Total Assets 5,101,015 8,582,672
Current Liabilities    
Accounts Payable 1,427,022 1,521,329
Common Stock Payable 10,000 303,340
Accrued Expenses 296,843 276,133
Asset Retirement Obligation - Current 239,167  
Current Income Taxes Payable 3,000 3,000
Total Current Liabilities 1,976,032 2,103,802
Asset Retirement Obligation 42,137 303,809
Derivative Liability   5
Total Liabilities 2,018,169 2,407,616
Commitments and Contingencies  
Stockholders' Equity    
Common Stock, 5,000,000 Shares Authorized of $0.001 Par Value, 4,709,167 and 13,441 Shares Issued and Outstanding, respectively 4,709 13
Additional Paid-in Capital 146,890,176 152,251,623
Stock Dividends Distributable 13,804,668 8,141,843
Accumulated Deficit (157,616,709) (154,218,469)
Total Stockholders' Equity 3,082,846 6,175,056
Total Liabilities and Stockholders' Equity 5,101,015 8,582,672
Series C Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock 2 2
Total Stockholders' Equity $ 2 2
Series B Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock   44
Total Stockholders' Equity   $ 44