Financials

v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 1,503,500 $ 1,477,089
Accounts receivable 13 1,611
Prepaid expenses 53,935 68,817
Deferred taxes 0 18,678
Total current assets 1,557,448 1,566,195
Property and equipment:    
Property and equipment 128,156 128,156
Less accumulated depreciation (126,931) (117,459)
Total property and equipment, net 1,225 10,697
Restricted cash and investments held in trust 141,307,307 138,980,353
Total assets 142,865,980 140,557,245
Current liabilities:    
Accounts payable 180,452 91,186
Accrued expenses 5,691 9,769
Income tax payable 472,770 85,722
Deferred taxes 438 0
Total current liabilities 659,351 186,677
Total liabilities 659,351 186,677
Commitments and contingencies
Redeemable non-controlling interest 140,738,954 138,870,060
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, 479,844,900 and 47,979,990 shares issued and outstanding as of December 31, 2018 and 2017, respectively 479,845 479,800
Additional paid-in capital 36,475,732 36,164,596
Accumulated deficit (35,487,902) (35,143,888)
Total stockholders' equity 1,467,675 1,500,508
Total liabilities, stockholders' equity and redeemable non-controlling interest $ 142,865,980 $ 140,577,245
v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Total revenues $ 0 $ 1,000,000
General and administrative expenses    
Salaries and benefits 1,199,729 1,321,995
Stock compensation 310,731 574,851
Professional services 473,074 176,155
Other general and administrative expenses 586,588 368,647
Total general and administrative expenses 2,570,122 2,441,648
Depreciation and amortization 9,472 10,848
Total operating expenses 2,579,594 2,452,496
Net operating loss (2,579,594) (1,452,496)
Other income:    
Interest income 2,474,344 355,338
Unrealized gain (loss) on marketable securities held in trust account 66,507 (64,985)
Settlement income 2,250,000 0
Settlement expense (112,500) 0
Loss on sale of property and equipment 0 (4,714)
Interest expense 0 (8,713)
Gain on sale of investment in Black Ridge Holding Company 0 1,030,145
Other income 1,996 0
Total other income 4,680,347 1,307,071
Income (loss) before provision for income taxes 2,100,753 (145,425)
Provision for income taxes (575,873) (67,044)
Net income (loss) 1,524,880 (212,469)
Less: Net income attributable to redeemable non-controlling interest (1,868,894) (180,060)
Net loss attributable to Black Ridge Oil & Gas, Inc. $ (344,014) $ (392,529)
Weighted average common shares outstanding - basic and fully diluted 479,816,790 160,970,732
Net income (loss) per common share - basic and fully diluted $ 0.00 $ 0.00
Management Fee Income [Member]    
Total revenues $ 0 $ 1,000,000
v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss attributable to Black Ridge Oil & Gas, Inc. $ (344,014) $ (392,529)
Adjustments to reconcile net loss attributable to Black Ridge Oil & Gas, Inc. to net cash used in operating activities:    
Depreciation and amortization 9,472 10,848
Gain on sale of Black Ridge Holding Company, LLC 0 (1,030,145)
Loss on sale of property and equipment 0 4,714
Amortization of common stock options issued to employees and directors 310,731 574,851
Interest income (2,474,344) (355,338)
Unrealized (gain) loss on marketable securities held in trust account (66,507) 64,985
Deferred taxes 19,116 (18,678)
Net income attributable to redeemable non-controlling interest 1,868,894 180,060
Decrease (increase) in current assets:    
Accounts receivable 1,598 0
Prepaid expenses 14,882 18,075
Due from affiliates 0 765
Increase (decrease) in current liabilities:    
Accounts payable 89,266 69,623
Accrued expenses (4,078) (5,229)
Income Taxes payable 387,048 85,722
Net cash used in operating activities (187,936) (792,276)
CASH FLOWS FROM INVESTING ACTIVITIES    
Principal deposited in trust account 0 (138,690,000)
Proceeds from sale of investment in Black Ridge Holding Company, LLC 0 1,081,387
Withdrawal from Trust Account to pay for taxes and franchise fees 213,897 0
Proceeds from sale of equipment 0 2,160
Net cash provided by (used in) investing activities 213,897 (137,606,453)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock warrants 450 0
Proceeds from sale of stock, net of offering costs 0 2,965,555
Proceeds from sale of stock to related parties, net of offering costs 0 2,086,120
Proceeds from sale of stock in Black Ridge Acquisition Corp. IPO, net of offering costs 0 134,757,874
Proceeds from promissory note 0 500,000
Repayment of promissory note   (500,000)
Net cash provided by financing activities 450 139,809,549
NET CHANGE IN CASH 26,411 1,410,820
CASH AT BEGINNING OF PERIOD 1,477,089 66,269
CASH AT END OF PERIOD 1,503,500 1,477,089
SUPPLEMENTAL INFORMATION:    
Interest paid 0 8,713
Income taxes paid 169,709 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Adjustment to additional paid-in capital to reflect redeemable non-operated interest 0 3,932,126
Accounts receivable received in dissolution of Black Ridge Holding Company, LLC $ 0 $ 1,611