Investors

Financials

v3.10.0.1
BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 33,521 $ 24,383
Prepaid expenses 91,231 112,217
Total current assets 124,752 136,600
Fixed Assets    
Furniture and equipment 43,622 43,622
Accumulated depreciation (43,445) (43,133)
Total furniture and equipment, net 177 489
Intangible assets 17,630,000 17,630,000
Deposits 1,750 1,750
Total Assets 17,756,679 17,768,839
Current Liabilities    
Accounts payable 493,403 590,870
Accrued liabilities 413,586 374,281
Liability for unauthorized preferred stock issued 9,283 9,283
Note payable (net of debt discount) - affiliate 572,000 896,500
Total current liabilities 1,488,272 1,870,934
Total Liabilities 1,488,272 1,870,934
Stockholders Equity    
Common stock, $0.001 par value, 300,000,000 shares authorized, 28,026,713 shares and 5,206,174 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 28,027 5,206
Receivable for stock subscription (245,000) (4,800,000)
Additional paid-in capital 95,582,545 87,552,737
Accumulated deficit (79,097,173) (66,861,036)
Total stockholders' equity 16,268,407 15,897,905
Total Liabilities and Stockholders' Equity 17,756,679 17,768,839
Preferred Series B stock, $0.001 par value, 0 shares authorized and 0 shares issued and outstanding at June 30, 2018; 800,000 shares authorized and 800,000 shares issued and outstanding at December 31, 2017    
Stockholders Equity    
Preferred stock 0 800
Preferred Series C stock, $0.001 par value, 0 shares authorized and 0 shares issued and outstanding at June 30, 2018; 810,000 shares authorized and 180,000 shares issued and outstanding at December 31, 2017    
Stockholders Equity    
Preferred stock 0 180
Preferred Series D stock, $0.001 par value, 20,000 shares authorized, 8,333 shares and 18,333 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively    
Stockholders Equity    
Preferred stock $ 8 $ 18
v3.10.0.1
STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating Expenses        
General and administrative $ 11,771,825 $ 513,826 $ 12,199,212 $ 1,071,319
Depreciation and amortization 119 7,702 312 9,318
Total operating expenses 11,771,944 521,528 12,199,524 1,080,637
Loss from operations (11,771,944) (521,528) (12,199,524) (1,080,637)
Other Income (Expense)        
Interest expense (63,744) (98,633) (122,060) (187,991)
Total other income (expense) (63,744) (98,633) (122,060) (187,991)
Loss from before tax benefit (11,835,688) (620,161) (12,321,584) (1,268,628)
Tax benefit 0 0 0 0
Loss from continuing operations (11,835,688) (620,161) (12,321,584) (1,268,628)
Income (loss) from discontinued operations 36,361 5,988 85,447 (9,721)
Loss applicable to common stockholders $ (11,799,327) $ (614,173) $ (12,236,137) $ (1,278,349)
Basic and diluted:        
Loss per share from continuing operations (in dollars per share) $ (0.50) $ (0.75) $ (0.84) $ (1.54)
Income (loss) per share from discontinued operations (in dollars per share) 0.00 0.01 0.01 (0.01)
Loss per share, basic and diluted (in dollars per share) $ (0.50) $ (0.74) $ (0.83) $ (1.55)
Weighted average shares, basic and diluted (in shares) 23,479,779 823,278 14,756,246 823,278
v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (12,236,137) $ (1,278,349)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion of asset retirement obligations 0 1,655
Amortization of deferred financing costs 0 6,237
Amortization of debt discount 0 124,055
Depletion, accretion, depreciation and amortization 312 60,645
Stock based compensation 11,331,602 179,034
Change in operating assets and liabilities    
Accounts receivable 0 15,407
Management fee receivable - affiliate 0 (1,899)
Prepaid expenses 20,986 (16,764)
Accounts payable (97,467) 150,107
Accrued liabilities - related parties 0 (216,357)
Accrued liabilities 39,305 (357,789)
Accrued interest on note payable - affiliate 98,700 15,719
Net cash used in operating activities (842,699) (1,318,299)
CASH FLOWS FROM FINANCING ACTIVITIES    
Non-controlling interest contributions 0 1,305,000
Debt financing proceeds - affiliate 987,000 320,000
Principal payments of debt financing 0 (316,000)
Contributions - affiliate 55,000 0
Conversion and redemption of preferred stock (190,163) 0
Net cash provided by financing activities 851,837 1,309,000
Net change in cash and cash equivalents 9,138 (9,299)
Beginning cash and cash equivalents 24,383 56,456
Ending cash and cash equivalents 33,521 47,157
Cash paid for:    
Interest 0 18,362
Non-cash investing and financing activities:    
Accrued interest and amortization of debt discount 122,061 163,392
Accrued capital expenditures 0 173,568
Revisions to asset retirement obligations 0 7,570
Receivable for stock subscription $ (4,555,000) $ 0