Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Cardinal Energy Group, Inc. | form8k.htm |
| EX-10.1 - EXHIBIT 10.1 - Cardinal Energy Group, Inc. | ex10-1.htm |
Cardinal Energy Group, Inc.
Consolidated Balance Sheets
| As Published | Pro-forma Amounts | |||||||||||
| December 31, 2013 | Adjustments | December 31, 2013 | ||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS | ||||||||||||
| Cash | $ | 18,694 | $ | - | $ | 18,694 | ||||||
| Deferred charges | - | - | - | |||||||||
| Prepaid expenses | 38,722 | - | 38,722 | |||||||||
| Accounts receivable - related party | 4,633 | 4,633 | ||||||||||
| Investments - marketable securities | 23,835 | 23,835 | ||||||||||
| Related-party receivables | - | - | - | |||||||||
| Total Current Assets | 85,884 | - | 85,884 | |||||||||
| PROPERTY AND EQUIPMENT, net | 56,078 | 56,078 | ||||||||||
| OIL AND GAS PROPERTIES (full cost method) | ||||||||||||
| Unproved properties, net of accumulated depletion, depreciation, amortization, and impairment of $579,963 and $0, respectively | 1,355,631 | (645,745 | ) | 709,886 | ||||||||
| OTHER ASSETS | ||||||||||||
| Deposits | 49,202 | (20,000 | ) | 29,202 | ||||||||
| TOTAL ASSETS | $ | 1,546,795 | $ | (665,745 | ) | $ | 881,050 | |||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||
| CURRENT LIABILITIES | ||||||||||||
| Accounts payable and accrued expenses | $ | 234,011 | $ | - | $ | 234,011 | ||||||
| Related party payables | 4,599 | - | 4,599 | |||||||||
| Convertible notes, net of debt discount of $-0- and $-0-, respectively | 418,306 | - | 418,306 | |||||||||
| Derivative liability | 32,528 | - | 32,528 | |||||||||
| Total Current Liabilities | 689,444 | - | 689,444 | |||||||||
| LONG-TERM LIABILITIES | ||||||||||||
| Convertible notes, net of debt discount of $30,836 and $-0-, respectively | 202,164 | - | 202,164 | |||||||||
| Notes payable | 400,000 | - | 400,000 | |||||||||
| Asset retirement obligation | 8,639 | (8,639 | ) | - | ||||||||
| Total Long-Term Liabilities | 610,803 | (8,639 | ) | 602,164 | ||||||||
| TOTAL LIABILITIES | 1,300,247 | (8,639 | ) | 1,291,608 | ||||||||
| STOCKHOLDERS’ EQUITY | ||||||||||||
| Common stock, 100,000,000 shares authorized at par value of $0.00001; 35,944,750 and 35,944,750 shares issued and outstanding, respectively | 359 | 359 | ||||||||||
| Additional paid-in capital | 5,293,772 | 1,352,894 | 6,646,666 | |||||||||
| Stock subscription receivable | (3,500 | ) | (3,500 | ) | ||||||||
| Treasury stock (3,000,000 shares) | 0 | (2,010,000 | ) | (2,010,000 | ) | |||||||
| Accumulated other comprehensive loss | (2,193,765 | ) | (2,193,765 | ) | ||||||||
| Retained earnings (deficit) | (2,850,318 | ) | (2,850,318 | ) | ||||||||
| TOTAL STOCKHOLDERS’ EQUITY | 246,548 | (657,106 | ) | (410,558 | ) | |||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,546,795 | $ | (665,745 | ) | $ | 881,050 | |||||