v3.22.2
Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
6 Months Ended |
12 Months Ended |
|
|
|
|
|
|
|
| Cash flows from operating activities: |
|
|
|
|
|
|
|
| Net loss |
$ (741,168)
|
$ (554,634)
|
$ (425,326)
|
$ (203,624)
|
$ (1,295,802)
|
$ (628,950)
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
| Equity in earnings of unconsolidated subsidiary – GMDOC, LLC |
(114,336)
|
|
|
|
(114,336)
|
|
|
| Change in fair value of derivative liability |
|
|
|
|
|
(199)
|
|
| Stock-based compensation |
|
|
|
|
608,247
|
188,000
|
|
| Depreciation, depletion and amortization |
30,834
|
|
30,834
|
|
61,668
|
30,834
|
|
| Accretion of asset retirement obligations |
302
|
|
279
|
|
580
|
279
|
|
| Gain on settlement of litigation |
|
|
|
|
|
(23,000)
|
|
| Gain on exchange and extinguishment of liabilities |
|
|
|
|
|
(179,407)
|
|
| Loss on retirement of convertible note payable |
|
|
|
|
|
115,805
|
|
| Expiration and charge-off of deposit to acquire oil and gas properties |
|
|
|
|
|
75,000
|
|
| Amortization of discount on convertible note payable |
|
|
|
|
389,651
|
25,823
|
|
| Change in operating assets and liabilities: |
|
|
|
|
|
|
|
| Increase in accounts receivable |
|
|
|
|
(8,729)
|
(6,942)
|
|
| Decrease in prepaid expenses |
|
|
|
|
(1,967)
|
|
|
| Increase (decrease) in accounts payable |
|
|
|
|
214,956
|
45,725
|
|
| Increase in accrued liabilities |
|
|
|
|
2,055
|
(225)
|
|
| Increase in accrued interest |
|
|
|
|
424
|
8,616
|
|
| Net cash used in operating activities |
|
|
|
|
(143,253)
|
(348,641)
|
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
| Investment in unconsolidated subsidiary – GMDOC, LLC |
|
|
|
|
(850,000)
|
|
|
| Investment in Hugoton Gas Field participation agreement |
|
|
|
|
(314,753)
|
|
|
| Investment in oil and gas properties and equipment |
|
|
|
|
(15,224)
|
(900,000)
|
|
| Net cash used in investing activities |
|
|
|
|
(1,179,977)
|
(900,000)
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
| Cash dividends paid on preferred stock |
|
|
|
|
(105,150)
|
(60,528)
|
|
| Net proceeds from issuance of convertible notes payable |
|
|
|
|
1,200,000
|
|
|
| Repayment of convertible note payable |
|
|
|
|
(425,000)
|
(453,539)
|
|
| Net proceeds from issuance of convertible preferred stock with detachable common stock purchase warrants |
|
|
|
|
500,000
|
1,929,089
|
|
| Net cash provided by financing activities |
|
|
|
|
1,169,850
|
1,415,022
|
|
| Net (decrease) increase in cash and cash equivalents |
|
|
|
|
(153,380)
|
166,381
|
|
| Cash and cash equivalents: |
|
|
|
|
|
|
|
| Beginning |
|
$ 260,590
|
|
$ 11,042
|
260,590
|
11,042
|
$ 11,042
|
| Ending |
$ 107,210
|
|
$ 177,423
|
|
107,210
|
177,423
|
$ 260,590
|
| Supplemental cash flow information: |
|
|
|
|
|
|
|
| Cash paid for interest |
|
|
|
|
34,027
|
17,448
|
|
| Cash paid for taxes |
|
|
|
|
|
|
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
|
|
|
|
| Conversion of Preferred Stock to Common Stock |
|
|
|
|
85
|
|
|
| Issuance of restricted common stock |
|
|
|
|
155
|
|
|
| Issuance of restricted common stock attributable to issuance of convertible notes payable |
|
|
|
|
196,154
|
|
|
| Issuance of detachable common stock warrants attributable to issuance of convertible notes payable |
|
|
|
|
136,574
|
|
|
| Cumulative effect of adoption of ASU 2020-06 |
|
|
|
|
|
160,900
|
|
| Issuance of convertible promissory notes pursuant to debt settlement agreements |
|
|
|
|
|
28,665
|
|
| Issuance of detachable common stock purchase warrants pursuant to debt settlements agreements |
|
|
|
|
|
1,605,178
|
|
| Capital contribution attributable to related party debt extinguishment |
|
|
|
|
|
1,108,477
|
|
| Issuance of common stock pursuant to debt settlement agreements |
|
|
|
|
|
68,600
|
|
| Assumption of asset retirement obligation related to purchase of oil and gas properties |
|
|
|
|
|
$ 13,425
|
|
| X |
- DefinitionCapital contribution attributable to related party debt extinguishment.
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|
| X |
- DefinitionCumulative effect of adoption of ASU.
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionExpiration and charge off of deposit to acquire oil gas properties.
| Name: |
IFNY_ExpirationAndChargeoffOfDepositToAcquireOilGasProperties |
| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionGain on exchange and extinguishment of debt.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionIssuance of common stock pursuant to debt settlement agreements.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionIssuance of detachable common stock purchase warrants pursuant to debt settlements agreements.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionIssuance of detachable common stock warrants attributable to issuance of convertible notes payable.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
credit |
| Period Type: |
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|
| X |
- DefinitionIssuance of restricted common stock attributable to issuance of convertible notes payable.
| Name: |
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| Namespace Prefix: |
IFNY_ |
| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionLoss on retirement of convertible note payable.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- References
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|
| X |
- DefinitionAmount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.
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|
| X |
- DefinitionAmount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability.
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| Balance Type: |
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|
| X |
- DefinitionAmount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including, but not limited to, disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
| Name: |
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| Namespace Prefix: |
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| Balance Type: |
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|
| X |
- DefinitionAmount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
| Name: |
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| Namespace Prefix: |
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| Balance Type: |
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| X |
- References
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|
| X |
- DefinitionThe value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.
| Name: |
us-gaap_ConversionOfStockAmountConverted1 |
| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionThe aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.
| Name: |
us-gaap_DepreciationDepletionAndAmortization |
| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionAmount of increase (decrease) in the fair value of derivatives recognized in the income statement.
| Name: |
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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| X |
- DefinitionAmount of income (loss) for proportionate share of equity method investee's income (loss).
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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| X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.
| Name: |
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| Namespace Prefix: |
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| Balance Type: |
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| Period Type: |
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|
| X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
| Name: |
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| Namespace Prefix: |
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| Balance Type: |
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| Period Type: |
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| X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.
| Name: |
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| Data Type: |
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| Balance Type: |
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| Period Type: |
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| X |
- DefinitionThe increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity.
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| X |
- DefinitionThe increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.
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| Namespace Prefix: |
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| Data Type: |
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| Balance Type: |
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|
| X |
- DefinitionAmount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.
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|
| X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
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| X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
| Name: |
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| X |
- DefinitionThe cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity).
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- DefinitionThe cash outflow to purchase long lived physical asset for use in the normal oil and gas operations and to purchase mineral interests in oil and gas properties not intended for resale.
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| X |
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|
|
