Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.22.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Oil and gas sales $ 1,870,055 $ 10,696,633 $ 3,548,872 $ 21,190,712
Power generation units and parts 1,496,526 0 3,634,127 0
Service and repairs 3,218,864 0 5,322,563 0
Total revanue 6,585,445 10,696,633 12,505,562 21,190,712
Operating expenses        
Cost of goods sold 2,602,290 0 5,053,599 0
Lease operating costs 617,653 5,228,732 1,186,168 9,974,748
General and administrative 3,186,601 1,199,699 8,480,762 2,320,934
Stock based compensation 296,062 114,793 588,870 388,543
Depreciation, depletion and amortization 513,701 2,306,225 1,013,470 4,663,227
Accretion - ARO 46,565 147,308 81,631 289,674
Total operating expenses 7,262,872 8,996,757 16,404,500 17,637,126
Income (loss) from operations (677,427) 1,699,876 (3,898,938) 3,553,586
Other income (expense)        
Interest expense (219,283) (3,179,380) (353,045) (6,431,875)
Amortization of debt discount (2,374) (1,086,680) (94,896) (2,145,036)
Change in fair value of derivatives 0 (7,307,567) 0 (12,976,173)
Loss on financing settlements 0 0 0 (926,531)
Other income 707,124 21,997 511,855 22,002
Total other income (expense) 485,467 (11,551,630) 63,914 (22,457,613)
Net loss before income taxes (191,960) (9,851,754) (3,835,024) (18,904,027)
Income tax benefit (expense) 0 0 0 0
Net loss (191,960) (9,851,754) (3,835,024) (18,904,027)
Net loss attributable to non-controlling interest (188,349) 0 (548,854) 0
Net loss attributable to Viking Energy Group, Inc. $ (3,611) $ (9,851,754) $ (3,286,170) $ (18,904,027)
Earnings (loss) per common share        
Basic and Diluted $ 0 $ (0.14) $ (0.03) $ (0.28)
Weighted average number of common shares outstanding        
Basic and Diluted 114,780,967 68,132,199 114,364,300 67,350,993