v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Jan. 31, 2019
Jul. 31, 2018
Current Assets:    
Cash $ 47,821 $ 52,672
Prepaid expenses 3,500
Accounts receivable 3,229
Stock subscription receivable 20,000
Total Current Assets 47,821 79,401
Other Assets    
Mineral rights and properties 30,065 30,065
Oil and gas properties 95,250 141,250
Total Other Assets 125,315 171,315
TOTAL ASSETS 173,136 250,716
Current Liabilities:    
Accounts payable 72,022 85,146
Accounts payable - related party 52,500 43,374
Accrued liabilities 686,939 327,580
Current portion of property option payable 116,000
Loans payable 119,990 110,990
Loans payable - related party 38,210 40,000
Total Current Liabilities 969,661 723,090
Convertible debt - long term 85,000 85,000
TOTAL LIABILITIES 1,054,661 808,090
Commitments and Contingencies
Stockholders' Deficit:    
Common stock, $0.001 par value, 75,000,000 shares authorized; 48,436,818 and 48,286,818 shares issued and outstanding, respectively 48,437 48,287
Common stock to be issued 150,000 50,000
Additional paid-in-capital 1,746,435 1,736,835
Accumulated deficit (2,826,397) (2,392,496)
Total Stockholders' Deficit (881,525) (557,374)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT $ 173,136 $ 250,716
v3.19.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jan. 31, 2019
Jan. 31, 2018
Jan. 31, 2019
Jan. 31, 2018
Income Statement [Abstract]        
Revenue $ 6,219 $ 16,767 $ 17,081 $ 28,059
Distributions 6,332 14,720 15,485 27,759
Gross margin (113) 2,047 1,596 300
Operating expenses:        
Officer compensation 15,000 15,000 27,500
Director services 15,000 1,500 30,000 2,000
Consulting 40,500 10,000 58,000
Professional fees 23,500 10,060 25,250 19,625
Advertising and promotion 38,485
Mineral property expenditures 361,048 10,100 377,021 12,849
General and administrative 8,316 61,761 16,377 107,446
Total operating expenses 407,864 138,921 512,133 227,420
Loss from operations (407,977) (136,874) (510,537) (227,120)
Other income (expense):        
Interest expense (4,647) (2,685) (12,114) (9,869)
Loss on disposal of mineral rights (46,000) (46,000)
Other income 116,000 116,000
Gain on forgiveness of debt 18,750 4,120 18,750 4,120
Total other income (expense) 84,103 1,435 76,636 (5,749)
Loss before provision for income taxes (323,874) (135,439) (433,901) (232,869)
Provision for income taxes
Net Loss $ (323,874) $ (135,439) $ (433,901) $ (232,869)
Loss per share, basic & diluted $ (0.01) $ 0.00 $ (0.01) $ (0.01)
Weighted average shares outstanding, basic & diluted 48,436,818 40,526,079 48,435,196 37,360,318
v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jan. 31, 2019
Jan. 31, 2018
Cash Flow from Operating Activities:    
Net loss $ (433,901) $ (232,869)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense 9,750
Loss on disposal of mineral rights 46,000
Gain on write-off of option payable (116,000)  
Changes in Operating Assets and Liabilities:    
Prepaid expenses 3,500 (725)
Accounts receivable 3,229 4,413
Accounts payables and accrued liabilities 346,235 (24,611)
Accounts payable - related party 9,126
Advances for well work (31,783)
Stock subscription receivable 20,000
Net cash used in operating activities (112,061) (285,575)
Cash Flows from Investing Activities:
Cash Flows from Financing Activities:    
Proceeds from loan payable 9,000 25,000
Proceeds from loans payable - related party 54,080
Payments on loans payable - related party (55,870)
Proceeds from the sale of common stock 100,000 293,000
Net cash provided by financing activities 107,210 318,000
Net increase (decrease) in cash (4,851) 32,425
Cash at beginning of the period 52,672  
Cash at end of the period 47,821 33,247
Cash paid for:    
Interest 870
Taxes