Financials

v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 826,525 $ 1,503,500
Accounts receivable 77 13
Prepaid expenses 100,401 53,935
Total current assets 927,003 1,557,448
Property and equipment:    
Property and equipment 128,965 128,156
Less accumulated depreciation (127,374) (126,931)
Total property and equipment, net 1,591 1,225
Restricted cash and investments held in trust 142,027,742 141,307,307
Total assets 142,956,336 142,865,980
Current liabilities:    
Accounts payable 105,906 180,452
Accrued expenses 24,371 5,691
Income tax payable 657,989 472,770
Deferred taxes 1,798 438
Total current liabilities 790,064 659,351
Total liabilities 790,064 659,351
Commitments and contingencies
Redeemable non-controlling interest 141,341,003 140,738,954
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 shares issued and outstanding 479,845 479,845
Additional paid-in capital 36,503,663 36,475,732
Accumulated deficit (36,158,239) (35,487,902)
Total stockholders' equity 825,269 1,467,675
Total liabilities, redeemable non-controlling interest and stockholders' equity $ 142,956,336 $ 142,865,980
v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS( Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Total revenues $ 0 $ 0
Operating expenses:    
Salaries and benefits 318,110 319,740
Stock compensation 27,931 85,833
Professional services 101,060 84,942
Other general and administrative expenses 250,284 151,881
Total general and administrative expenses 697,385 642,396
Depreciation and amortization 443 2,558
Total operating expenses 697,828 644,954
Net operating loss (697,828) (644,954)
Other income (expense):    
Interest income 811,335 417,712
Unrealized gain on marketable securities held in Trust Account 4,733 57,914
Loss on disposal of property and equipment 0 0
Other income 51 171
Total other income (expense) 816,119 475,797
Gain (loss) before provision for income taxes 118,291 (169,157)
Provision for income taxes 186,579 94,667
Net loss (68,288) (263,824)
Less net income attributable to redeemable non-controlling interest (602,049) (369,205)
Net loss attributable to Black Ridge Oil & Gas, Inc. $ (670,337) $ (633,029)
Weighted average common shares outstanding - basic and fully diluted 479,844,900 479,799,900
Net loss per common share - basic and fully diluted $ (0.00) $ (0.00)
Management Fee Income [Member]    
Total revenues $ 0 $ 0
v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss attributable to Black Ridge Oil & Gas, Inc. $ (670,337) $ (633,029)
Adjustments to reconcile net loss attributed to Black Ridge Oil & Gas, Inc. to net cash used in operating activities:    
Interest income (811,335) (417,712)
Unrealized gain on marketable securities held in Trust Account (4,733) (57,914)
Net income attributable to redeemable non-controlling interest 602,049 369,205
Depreciation and amortization 443 2,558
Common stock options issued to employees and directors 27,931 85,833
Deferred taxes 1,360 16,646
Decrease (increase) in current assets:    
Accounts receivable (64) 1,041
Prepaid expenses (46,466) (25,667)
Increase (decrease) in current liabilities:    
Accounts payable (74,546) 65,549
Accrued expenses 18,680 14,519
Income taxes payable 185,219 78,021
Net cash used in operating activities (771,799) (500,950)
CASH FLOWS FROM INVESTING ACTIVITIES    
Withdrawal from Trust Account to pay for taxes and franchise fees 95,633 0
Purchase of property and equipment (809) 0
Net cash provided by investing activities 94,824 0
CASH FLOWS FROM FINANCING ACTIVITIES    
Net cash provided by financing activities 0 0
NET CHANGE IN CASH (676,975) (500,950)
CASH AT BEGINNING OF PERIOD 1,503,500 1,477,089
CASH AT END OF PERIOD 826,525 976,139
SUPPLEMENTAL INFORMATION:    
Interest paid 0 0
Income taxes paid $ 0 $ 0