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siehe mal
yahoo.brand.edgar-online.com/...0001144204-06-034998&Type=HTML
June 30, December 31,
2006 2005
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ASSETS
Current Assets:
Cash $ 380,241 $ 132,935
Marketable securities 750,000 1,000,000
Accounts receivable - oil and gas sales 82,451 13,137
Other current assets 225,548 672
------------ ------------
Total current assets 1,438,240 1,146,744
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Property and Equipment:
Oil and gas properties, using full cost accounting
Subject to amortization 3,333,725 1,311,546
Not subject to amortization 357,784 623,860
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Gross oil and gas properties 3,691,509 1,935,406
Accumulated depletion (225,204) (13,311)
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Net oil and gas properties 3,466,305 1,922,095
Office equipment, at cost, net of accumulated depreciation of 7,475 and
104, respectively 142,892 2,391
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Property and equipment, net 3,609,197 1,924,486
------------ ------------
Acquisition of Catlin 2,301,000 --
------------ ------------
TOTAL ASSETS $ 7,348,437 $ 3,071,230
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 1,071,860 $ 485,544
Notes payable 116,350 161,413
Notes payable - related party 150,696 --
Due to USPX 6,054 2,041
Due to Sundial 1,577 --
Due to royalty holders 11,659 --
Income taxes payable 3,647 2,219
Other current liabilities 2,921 --
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Total current liabilities 1,364,764 651,217
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35% minority interest in Canyon Creek Oil & Gas, Inc. subsidiary 623,625 609,691
25% minority interest in Texas Energy, Inc. subsidiary 138,393 --
30% minority interest in West Oil & Gas, Inc. subsidiary 14,064 --
------------ ------------
Minority Interest 776,082 609,691
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STOCKHOLDERS' EQUITY
Common stock, 2,000,000,000 shares .001 par value authorized, 177,428,108
and 32,964,256 shares issued/"to be issued" and outstanding, respectively 177,428 32,964
Convertible preferred stock, 500,000,000 shares .001 par value
authorized, 236,825 and 237,106 shares issued and outstanding,
respectively 237 237
Class A convertible preferred stock, 100,000 shares 10.00 par value
authorized, 100,000 and 100,000 shares issued and outstanding,
respectively 1,000,000 1,000,000
Class B convertible preferred stock, 5,113 shares 1,000.00 par value
authorized, 5,113 and 1,473 shares issued and outstanding, respectively 5,113,000 1,473,000
Additional paid-in capital 31,725,698 27,654,212
Accumulated deficit (32,808,772) (28,350,091)
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Total stockholders' equity 5,207,591 1,810,322
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Total liabilities and stockholder's equity $ 7,348,437 $ 3,071,230
============ ============
siehe mal
yahoo.brand.edgar-online.com/...0001144204-06-034998&Type=HTML
June 30, December 31,
2006 2005
------------ ------------
ASSETS
Current Assets:
Cash $ 380,241 $ 132,935
Marketable securities 750,000 1,000,000
Accounts receivable - oil and gas sales 82,451 13,137
Other current assets 225,548 672
------------ ------------
Total current assets 1,438,240 1,146,744
------------ ------------
Property and Equipment:
Oil and gas properties, using full cost accounting
Subject to amortization 3,333,725 1,311,546
Not subject to amortization 357,784 623,860
------------ ------------
Gross oil and gas properties 3,691,509 1,935,406
Accumulated depletion (225,204) (13,311)
------------ ------------
Net oil and gas properties 3,466,305 1,922,095
Office equipment, at cost, net of accumulated depreciation of 7,475 and
104, respectively 142,892 2,391
------------ ------------
Property and equipment, net 3,609,197 1,924,486
------------ ------------
Acquisition of Catlin 2,301,000 --
------------ ------------
TOTAL ASSETS $ 7,348,437 $ 3,071,230
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 1,071,860 $ 485,544
Notes payable 116,350 161,413
Notes payable - related party 150,696 --
Due to USPX 6,054 2,041
Due to Sundial 1,577 --
Due to royalty holders 11,659 --
Income taxes payable 3,647 2,219
Other current liabilities 2,921 --
------------ ------------
Total current liabilities 1,364,764 651,217
------------ ------------
35% minority interest in Canyon Creek Oil & Gas, Inc. subsidiary 623,625 609,691
25% minority interest in Texas Energy, Inc. subsidiary 138,393 --
30% minority interest in West Oil & Gas, Inc. subsidiary 14,064 --
------------ ------------
Minority Interest 776,082 609,691
------------ ------------
STOCKHOLDERS' EQUITY
Common stock, 2,000,000,000 shares .001 par value authorized, 177,428,108
and 32,964,256 shares issued/"to be issued" and outstanding, respectively 177,428 32,964
Convertible preferred stock, 500,000,000 shares .001 par value
authorized, 236,825 and 237,106 shares issued and outstanding,
respectively 237 237
Class A convertible preferred stock, 100,000 shares 10.00 par value
authorized, 100,000 and 100,000 shares issued and outstanding,
respectively 1,000,000 1,000,000
Class B convertible preferred stock, 5,113 shares 1,000.00 par value
authorized, 5,113 and 1,473 shares issued and outstanding, respectively 5,113,000 1,473,000
Additional paid-in capital 31,725,698 27,654,212
Accumulated deficit (32,808,772) (28,350,091)
------------ ------------
Total stockholders' equity 5,207,591 1,810,322
------------ ------------
Total liabilities and stockholder's equity $ 7,348,437 $ 3,071,230
============ ============