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 ($)
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities    
Net Income (Loss) $ (3,398,240) $ 18,130,185
Net Income (Loss) from Continuing Operations (3,398,240) 18,130,185
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation, Depletion, Amortization and Accretion 15,215 463,926
Impairment of Oil and Gas Properties   1,304,785
Bad Debt Expense 17,694  
Gain on Sale of Oil and Gas Properties   (25,808,246)
Share-Based Compensation 37,690 343,629
Litigation Settlement - PetroGlobe 204,842  
Change in fair value of derivatives (5)  
Amortization of Discount on Notes   1,499,647
Changes in operating assets and liabilities:    
Accounts Receivable (64,695) 576,320
Other Current Assets 263,205 (3,444)
Accounts Payable and Accrued Expenses (279,437) (696,281)
Cash Used in Operating Activities from Continuing operations (3,203,731) (4,188,452)
Cash Provided by Operating Activities from Discontinued Operations 1,212,391  
Cash Used in Operating Activities (1,991,340) (4,188,452)
Cash Flows from Investing Activities    
Cash Acquired in Lineal Acquisition 449,763  
Cash Disposed of in Connection with Lineal Redemption (2,101,879)  
Cash loaned to Lineal Holdings (2,339,719)  
Cash Paid for Fixed Asset Additions   (2,187,302)
Cash Received (Paid) for Deposits 43,466 (141,009)
Cash Used in Investing activities from Continuing Operations (3,948,369) (2,328,311)
Cash Used in Investing Activities from Discontinued Operations (692,650)  
Net Cash Used in Investing Activities (4,641,019) (2,328,311)
Cash Flows from Financing Activities    
Cash Paid for Settlement of Series B Preferred Stock Warrants (25,000)  
Proceeds from Issuance of Series C Preferred Stock   15,000,000
Cash Used in Financing Activities from continuing operations (25,000) 15,000,000
Cash Provided by Financing Activities from Discontinued Operations 1,132,375  
Cash Provided by Financing Activities 1,107,375 15,000,000
(Decrease) Increase in Cash and Restricted Cash (5,524,984) 8,483,237
Cash and Restricted Cash at Beginning of the Period 7,778,723 789,151
Cash and Restricted Cash at End of the Period $ 2,253,739 $ 9,272,388