|6 Months Ended|
Jun. 30, 2017
|Subsequent Events [Abstract]|
During the period of July 1, 2017 through August 11, 2017, additional capital contributions from an affiliate of $200,000 were received.
On July 25, 2017, Plaintiff Penn Virginia Oil and Gas, L.P. filed a lawsuit in the 295th Judicial Court of Harris County, Texas, of which Victory Energy Corporation is a defendant. This lawsuit alleges breach of contract and seeks to foreclose on its liens on the Eagle Ford wells in conjunction with collecting monetary damages.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/presentationRef