Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 1,921,408 $ 1,761,495
Restricted cash 2,569,003 3,877,229
Accounts receivable - oil and gas - net 4,667,407 2,864,114
Prepaid expenses 53,378 168,994
Total current assets 9,211,196 8,671,832
Oil and gas properties, full cost method    
Proved developed producing oil and gas properties, net 87,818,028 68,924,441
Proved undeveloped and non-producing oil and gas properties, net 58,047,338 50,817,675
Total oil and gas properties, net 145,865,366 119,742,116
Fixed assets, net 450,352 509,934
Derivative asset 8,428,610 0
Deposits 121,196 2,821,594
TOTAL ASSETS 164,076,720 131,745,476
Current liabilities:    
Accounts payable 1,595,600 3,791,894
Accrued expenses and other current liabilities 4,082,845 3,229,594
Undistributed revenues and royalties 2,992,029 2,247,678
Derivative liability 0 5,158,822
Amount due to director 590,555 590,555
Current portion of long-term debt and other short-term borrowings - net of debt discount 63,059,086 19,225,045
Total current liabilities 72,320,115 34,243,588
Long term debt - net of current portion and debt discount 69,609,772 84,988,117
Operating lease liability 276,034 308,279
Asset retirement obligation 5,294,243 3,538,637
TOTAL LIABILITIES 147,500,164 123,078,621
STOCKHOLDERS' EQUITY    
Preferred stock, $0.001 par value, 5,000,000 shares authorized, 28,092 shares issued and outstanding as of June 30, 2020 and December 31, 2019 28 28
Common stock, $0.001 par value, 500,000,000 shares authorized, 160,072,118 and 124,198,309 shares issued and outstanding as of June 30, 2020 and December 31, 2019 respectively. 160,072 124,198
Additional paid-in capital 44,123,010 38,825,392
Accumulated deficit (27,551,915) (30,282,763)
Equity attributable to Viking Energy Group, Inc. 16,731,195 8,666,855
Noncontrolling interest (154,639) 0
TOTAL STOCKHOLDERS' EQUITY 16,576,556 8,666,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 164,076,720 $ 131,745,476