Financials

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 4,721,876 $ 66,269
Prepaid expenses 40,120 86,892
Due from Black Ridge Holding Company, LLC 0 765
Total current assets 4,761,996 153,926
Property and equipment:    
Property and equipment 128,155 140,547
Less accumulated depreciation (114,901) (112,128)
Total property and equipment, net 13,254 28,419
Deferred offering costs 151,549 0
Investment in Blackridge Holding Company, LLC 52,853 52,853
Total assets 4,979,652 235,198
Current liabilities:    
Accounts payable 71,651 21,563
Accrued expenses 23,324 14,998
Total current liabilities 94,975 36,561
Long term liabilities 0 0
Total liabilities 94,975 36,561
Commitments and contingencies (See note 18) 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, 479,799,900 and 47,979,990 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively 4,366,179 47,980
Additional paid-in capital 36,108,545 34,902,016
Accumulated deficit (35,590,047) (34,751,359)
Total stockholders' equity 4,884,677 198,637
Total liabilities and stockholders' equity $ 4,979,652 $ 235,198
v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS( Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Management fee income $ 0 $ 500,000 $ 1,000,000 $ 549,451
Total revenues 0 500,000 1,000,000 549,451
General and administrative expenses:        
Salaries and benefits 331,284 316,486 1,006,712 985,406
Stock compensation 154,069 157,824 473,053 473,472
Professional services 11,783 17,657 108,519 117,802
Other general and administrative expenses 72,071 108,050 228,686 322,906
Total general and administrative expenses 569,207 600,017 1,816,970 1,899,586
Depreciation and amortization 2,557 3,484 8,291 10,848
Total operating expenses 571,764 603,501 1,825,261 1,910,434
Net operating loss (571,764) (103,501) (825,261) (1,360,983)
Other income (expense):        
Gain on debt restructuring 0 0 0 41,621,150
Interest expense (8,713) 0 (8,713) 0
Loss on disposal of property and equipment 0 0 (4,714) 0
Total other income (expense) (8,713) 0 (13,427) 41,621,150
Income (loss) before provision for income taxes (580,477) (103,501) (838,688) 40,260,167
Provision for income taxes 0 0 0 0
Income (loss) from continuing operations, net of tax (580,477) (103,501) (838,688) 40,260,167
Loss from discontinued operations, net of tax 0 0 0 (10,197,374)
Net income (loss) $ (580,477) $ (103,501) $ (838,688) $ 30,062,793
Weighted average common shares outstanding - basic 64,438,566 47,979,990 53,526,470 47,979,990
Weighted average common shares outstanding - fully diluted 64,438,566 47,979,990 53,526,470 48,055,112
Net loss per common share - basic $ (0.01) $ (0.00) $ (0.02) $ 0.63
Net loss per common share - fully diluted $ (0.01) $ (0.00) $ (0.02) $ 0.63
v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (838,688) $ 30,062,793
Loss from discontinued operations, net of income taxes 0 (10,197,374)
Income (loss) from continuing operations (838,688) 40,260,167
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities from continuing operations:    
Depreciation and amortization 8,291 10,848
Loss on sale of property and equipment 4,714 0
Gain on debt restructuring 0 (41,621,150)
Common stock options issued to employees and directors 473,053 473,472
Decrease (increase) in current assets:    
Due from Black Ridge Holdings Company LLC 765 0
Prepaid expenses 46,772 (54,508)
Increase (decrease) in current liabilities:    
Accounts payable 50,088 (3,049)
Due to Black Ridge Holding Company, LLC 0 23,674
Accrued expenses 8,326 25,044
Net cash provided by (used in) operating activities from continuing operations (246,679) (885,502)
Net cash provided by operating activities from discontinued operations 0 3,829,723
Net cash provided by (used in) operating activities (246,679) 2,944,221
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment 0 (1,543)
Proceeds from sale of property and equipment 2,160 0
Net cash provided by investing activities from continuing operations 2,160 (1,543)
Net cash used in investing activities of discontinued operations 0 (4,763,506)
Net cash provided by (used in) investing activities 2,160 (4,765,049)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of stock, net 2,965,555 0
Proceeds from sale of stock, related party, net 2,086,120 0
Proceeds from promissory note 500,000 0
Repayment of promissory note (500,000) 0
Payment of deferred offering costs (151,549) 0
Net cash used in financing activities from continuing operations 4,900,126 0
Net cash provided by financing activities of discontinued operations 0 1,650,000
Net cash provided by financing activities 4,900,126 1,650,000
NET CHANGE IN CASH 4,655,607 (170,828)
CASH AT BEGINNING OF PERIOD 66,269 228,194
CASH AT END OF PERIOD 4,721,876 57,366
SUPPLEMENTAL INFORMATION:    
Interest paid 8,713 1,429,564
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Investment in Black Ridge Holding Company, LLC 0 (41,568,297)
Net change in accounts payable for purchase of oil and gas properties 0 (3,744,487)
Capitalized asset retirement costs, net of revision in estimate $ 0 $ 4,737