Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Operating Revenues        
Total Revenues $ 94,115 $ 127,937 $ 308,219 $ 2,632,099
Operating Expenses        
Lease Operating Expenses 72,955 441,312 384,995 2,600,353
Severance and Property Taxes 4,081 5,937 10,686 133,192
Depreciation, Depletion, Amortization, and Accretion 7,382 1,026 15,215 464,952
Impairment of Oil and Gas Properties   548,819   1,304,785
General and Administrative 1,146,374 677,566 3,418,849 3,512,816
Gain on Sales of Assets       (25,808,246)
Total Operating Expenses 1,230,792 1,674,660 3,829,745 (17,792,148)
Operating Income (Loss) (1,136,677) (1,546,723) (3,521,526) 20,424,247
Other Expense (Income)        
Interest Expense 9,750 202,669 14,771 2,436,776
Other (Income), Net (22,861) (163,308) (138,057) (142,714)
Total Other (Income) Expenses (13,111) 39,361 (123,286) 2,294,062
Net Income (Loss) Before Discontinued Operations (1,123,566) (1,586,084) (3,398,240) 18,130,185
Loss from Discontinued Operations (710,112)      
Net Income (Loss) $ (1,833,678) $ (1,586,084) $ (3,398,240) $ 18,130,185
Basic        
Continuing Operation (in dollars per share) $ (1.03) $ (800.49) $ (7.84) $ 7,982.41
Discontinued Operations (in dollars per share) (.24)      
Total (in dollars per share) (1.27) (800.49) (7.84) 7,982.41
Diluted        
Continuing Operations (in dollars per share) (1.03) (800.49) (7.84) 529.23
Discontinued Operations (in dollars per share) (0.24)      
Total (in dollars per share) $ (1.27) $ (800.49) $ (7.84) $ 529.23
Weighted Average Number of Common Shares Outstanding        
Basic (in shares) 2,937,254 4,000 1,155,285 1,869
Diluted (in shares) 2,937,254 4,000 1,155,285 28,190
Oil Sales [Member]        
Operating Revenues        
Total Revenues $ 69,092 $ 73,301 $ 229,577 $ 45,532
Natural Gas Sales [Member]        
Operating Revenues        
Total Revenues 9,871 13,114 29,418 753,057
Natural Gas Liquid Sales [Member]        
Operating Revenues        
Total Revenues $ 15,152 $ 41,522 $ 49,224 $ 1,423,720