Financials

v3.7.0.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 137,029 $ 66,269
Prepaid expenses 61,247 86,892
Due from Black Ridge Holding Company, LLC 178 765
Total current assets 198,454 153,926
Property and equipment:    
Property and equipment 128,155 140,547
Less, accumulated depreciation (109,710) (112,128)
Total property and equipment, net 18,445 28,419
Investment in Blackridge Holding Company, LLC 52,853 52,853
Total assets 269,752 235,198
Current liabilities:    
Accounts payable 38,822 21,563
Accrued expenses 25,518 14,998
Total current liabilities 64,340 36,561
Long term liabilities 0 0
Total liabilities 64,340 36,561
Commitments and contingencies (See note 17) 0 0
Stockholders' equity    
Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.001 par value, 500,000,000 shares authorized, 47,979,990 shares issued and outstanding 47,980 47,980
Additional paid-in capital 35,061,508 34,902,016
Accumulated deficit (34,904,076) (34,751,359)
Total stockholders' equity 205,412 198,637
Total liabilities and stockholders' equity $ 269,752 $ 235,198
v3.7.0.1
CONDENSED STATEMENTS OF OPERATIONS( Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Management fee income $ 500,000 $ 0
Total revenues 500,000 0
General and administrative expenses:    
Salaries and benefits 338,570 343,089
Stock compensation 159,492 157,824
Professional services 66,623 79,437
Other general and administrative expenses 80,218 104,559
Total general and administrative expenses 644,903 684,909
Depreciation and amortization 3,100 3,885
Total operating expenses 648,003 688,794
Net operating loss (148,003) (688,794)
Other income (expense):    
Loss on disposal of property and equipment (4,714) 0
Total other income (expense) (4,714) 0
Loss before provision for income taxes (152,717) (688,794)
Provision for income taxes 0 0
Loss from continuing operations, net of tax (152,717) (688,794)
Loss from discontinued operations, net of tax 0 (7,226,719)
Net loss $ (152,717) $ (7,915,513)
Weighted average common shares outstanding - basic 47,979,990 47,979,990
Weighted average common shares outstanding - fully diluted 47,979,990 47,979,990
Net loss per common share - basic $ (0.00) $ (0.16)
Net loss per common share - fully diluted $ (0.00) $ (0.16)
v3.7.0.1
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (152,717) $ (7,915,513)
Loss from discontinued operations, net of taxes 0 (7,226,719)
Loss from continuing operations (152,717) (688,794)
Adjustments to reconcile net loss from continuing operations to net cash provided by (used in) operating activities from continuing operations:    
Depreciation and amortization 3,100 3,885
Loss on sale of property and equipment 4,714 0
Common stock options issued to employees and directors 159,492 157,824
Decrease (increase) in current assets:    
Due from Black Ridge Holdings Company LLC 587 0
Prepaid expenses 25,645 (18,013)
Increase (decrease) in current liabilities:    
Accounts payable 17,259 19,060
Accrued expenses 10,520 20,378
Net cash provided by (used in) operating activities from continuing operations 68,600 (505,660)
Net cash provided by operating activities from discontinued operations 0 247,277
Net cash provided by (used in) operating activities 68,600 (258,383)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 2,160 0
Net cash provided by investing activities from continuing operations 2,160 0
Net cash used in investing activities of discontinued operations 0 (1,149,789)
Net cash provided by (used in) investing activities 2,160 (1,149,789)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net cash used in financing activities of discontinued operations 0 1,400,000
Net cash provided by financing activities 0 1,400,000
NET CHANGE IN CASH 70,760 (8,172)
CASH AT BEGINNING OF PERIOD 66,269 228,194
CASH AT END OF PERIOD 137,029 220,022
SUPPLEMENTAL INFORMATION:    
Interest paid 0 1,114,527
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Net change in accounts payable for purchase of oil and gas properties $ 0 $ (237,303)