Petrolia Energy Corporation Unaudited Consolidated Balance Sheet as of March 31, 2017
Summary
This document presents the unaudited consolidated balance sheet of Petrolia Energy Corporation as of March 31, 2017, showing both pro-forma and actual figures. It details the company's assets, liabilities, and stockholders' equity, including cash, receivables, property and equipment, debts, and equity structure. The balance sheet provides a snapshot of the company's financial position at the specified date, but does not impose obligations or terms between parties.
EX-10.2 3 ex10-2.htm EX-10.2
Exhibit 10.2
PETROLIA ENERGY CORPORATION
CONSOLIDATED BALANCE SHEETS
(Unaudited)
| | Pro-forma March 31, 2017 | Actual March 31, 2017 | ||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash | $ | 4,387 | $ | 4,387 | ||||
| Accounts receivable | 48,201 | 48,201 | ||||||
| Other current assets | 5,506 | 5,506 | ||||||
| Total current assets | 58,094 | 58,094 | ||||||
| | ||||||||
| Property & equipment | ||||||||
| Oil and gas, on the basis of full cost accounting | ||||||||
| Evaluated properties | 14,032,580 | 14,032,580 | ||||||
| Furniture, equipment & software | 236,092 | 236,092 | ||||||
| Less accumulated depreciation | (1,137,981 | ) | (1,137,981 | ) | ||||
| Net property and equipment | 13,130,691 | 13,130,691 | ||||||
| | ||||||||
| Other Assets | ||||||||
| Intangible assets | 49,886 | 49,886 | ||||||
| Note receivable | --- | --- | ||||||
| | ||||||||
| Total Assets | $ | 13,238,671 | $ | 13,238,671 | ||||
| | ||||||||
| LIABILITIES & STOCKHOLDERS EQUITY | ||||||||
| | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 402,343 | $ | 402,343 | ||||
| Accrued liabilities | 584,211 | 584,211 | ||||||
| Debt short term | 275,000 | 275,000 | ||||||
| Convertible debt – related party, unamortized discount of 0 and 0 | 550,000 | 550,000 | ||||||
| Current maturities of installment notes payable | 32,582 | 32,582 | ||||||
| Note payable – related parties | 414,480 | 1,414,480 | ||||||
| Total current liabilities | 2,258,616 | 3,258,616 | ||||||
| | ||||||||
| Asset retirement obligations | 436,045 | 436,045 | ||||||
| Installment note payable – long term | 28,316 | 28,316 | ||||||
| Note payable to related party – long term | 1,904,020 | 2,904,020 | ||||||
| Total Liabilities | 4,626,997 | 6,626,997 | ||||||
| | ||||||||
| Stockholders’ Equity | ||||||||
| Preferred stock, $0.01 par value, 1,000,000 shares authorized; No shares issued & outstanding | - | - | ||||||
| Common stock, $.001 par value; 150,000,000 shares authorized; 89,034,505 shares issued and outstanding | 79,034 | 79,034 | ||||||
| Additional paid in capital | 16,963,530 | 14,963,530 | ||||||
| Accumulated deficit | (8,430,890 | ) | (8,430,890 | ) | ||||
| Total Stockholders’ Equity | 8,611,674 | 6,611,674 | ||||||
| | ||||||||
| Total Liabilities and Stockholders’ Equity | $ | 13,238,671 | $ | 13,238,671 | ||||
