Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.21.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue    
Oil and gas sales $ 40,266,780 $ 34,592,850
Operating expenses    
Lease operating costs 19,075,749 12,203,777
Impairment of oil and gas properties 37,500,000 0
General and administrative 4,966,059 5,233,027
Stock based compensation 5,625,302 951,533
Accretion - asset retirement obligations 1,111,266 391,482
Depreciation, depletion & amortization 13,513,735 10,936,446
Total operating expenses 81,792,111 29,716,265
Income (Loss) from operations (41,525,331) 4,876,585
Other income (expenses)    
Interest expense (19,697,942) (12,988,695)
Amortization of debt discount (7,321,178) (7,975,244)
Change in fair value of derivatives 5,485,573 (3,308,880)
Loss on debt settlement (931,894) 0
Interest and other income 2,527 5,384
Total other income (expenses) (22,462,914) (24,267,435)
Net loss before income taxes (63,988,245) (19,390,850)
Income tax benefit (expense) 0 0
Net loss (63,988,245) (19,390,850)
Net loss attributable to noncontrolling interest 1,996,511 0
Net loss attributable to Viking Energy Group, Inc. $ (61,991,734) $ (19,390,850)
Loss per weighted average number of common shares outstanding - basic and diluted $ (2.42) $ (1.81)
Weighted average number of common shares outstanding - basic and diluted 26,459,006 10,708,865