10-K Filing

PLEDGE PETROLEUM CORP CIK: 1434110 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001144204-18-032072`
Period End Date	20171231
Filing Date	20180601
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	prop-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 52 Cash Flow Statement 68 Stockholders Equity 11

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$9.17M	USD	Point-in-time
Cash	`Cash`	$749.62K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Restricted cash related to asset disposal and equity repurchase	`RestrictedCashAndInvestmentsCurrent`	$7.85M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Restricted cash related to asset disposal and equity repurchase	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	268.56M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	268.56M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$25.94K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$25.82K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.20M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.94K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$14.33K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$6.97K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$530.00	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$21.29K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$9.46K	USD	Point-in-time
Total Assets	`Assets`	$8.63M	USD	Point-in-time
Total Assets	`Assets`	$9.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.85K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$27.85K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$34.47K	USD	Point-in-time
Net liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.03M	USD	Point-in-time
Net liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$3.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$3.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$69.70K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.09M	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 268,558,931 shares issued and outstanding as of December 31, 2017 and 2016.	`CommonStockValue`	$268.56K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 268,558,931 shares issued and outstanding as of December 31, 2017 and 2016.	`CommonStockValue`	$268.56K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$27.40M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$26.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.51M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.12M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.40M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.57M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.63M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$9.22M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Revenue	`Revenues`	-	USD	Annual
Net Revenue	`Revenues`	$25.00K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	Annual
Gross Profit	`GrossProfit`	$25.00K	USD	Annual
Gross Profit	`GrossProfit`	-	USD	Annual
Sales and Marketing	`SellingAndMarketingExpense`	$5.09K	USD	Annual
Sales and Marketing	`SellingAndMarketingExpense`	$5.99K	USD	Annual
Professional fees	`ProfessionalFees`	$376.64K	USD	Annual
Professional fees	`ProfessionalFees`	$281.96K	USD	Annual
Business development	`BusinessDevelopment`	$22.18K	USD	Annual
Business development	`BusinessDevelopment`	-	USD	Annual
Consulting fees	`ConsultingFees`	$318.38K	USD	Annual
Consulting fees	`ConsultingFees`	$43.28K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.09M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$291.11K	USD	Annual
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$5.39K	USD	Annual
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$1.10M	USD	Annual
Total Expense	`OperatingExpenses`	$2.91M	USD	Annual
Total Expense	`OperatingExpenses`	$627.73K	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-602.73K	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-2.91M	USD	Annual
Other income (expense)	`OtherOperatingIncomeExpenseNet`	-	USD	Annual
Other income (expense)	`OtherOperatingIncomeExpenseNet`	$193.67K	USD	Annual
Finance costs	`FinanceIncomeExpenses`	$840.00	USD	Annual
Finance costs	`FinanceIncomeExpenses`	$326.00	USD	Annual
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.72M	USD	Annual
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-601.89K	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-601.89K	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.72M	USD	Annual
Loss for discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	Annual
Loss for discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.65M	USD	Annual
Net loss attributable to non-controlling interest of discontinued operation	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest`	-	USD	Annual
Net loss attributable to non-controlling interest of discontinued operation	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest`	$-249.34K	USD	Annual
Loss from discontinued operations, net of non-controlling interest	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	Annual
Loss from discontinued operations, net of non-controlling interest	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.40M	USD	Annual
Net loss attributable to Controlling Interest	`NetIncomeLoss`	$-601.89K	USD	Annual
Net loss attributable to Controlling Interest	`NetIncomeLoss`	$-4.12M	USD	Annual
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$627.71K	USD	Annual
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$626.00K	USD	Annual
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.75M	USD	Annual
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.23M	USD	Annual
Net Loss Per Share from continuing operations - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	Annual
Net Loss Per Share from continuing operations - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
Net Loss Per Share from discontinued operations - Basic and Diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Net Loss Per Share from discontinued operations - Basic and Diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.01	USD	Annual
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	268.56M	shares	Annual
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	268.56M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-601.89K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.12M	USD	Annual
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	Annual
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.65M	USD	Annual
Less: loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	Annual
Less: loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-249.34K	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-601.89K	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.72M	USD	Annual
Depreciation expense	`Depreciation`	$5.39K	USD	Annual
Depreciation expense	`Depreciation`	$130.93K	USD	Annual
Deposit forfeited	`IncreaseDecreaseInSecurityDeposits`	-	USD	Annual
Deposit forfeited	`IncreaseDecreaseInSecurityDeposits`	$6.97K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	-	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$70.00K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	-	USD	Annual
Impairment charges	`AssetImpairmentCharges`	$899.25K	USD	Annual
Loss on scrapping of fixed assets	`GainLossOnDispositionOfAssets1`	$-1.25K	USD	Annual
Loss on scrapping of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Equity based compensation charge	`ShareBasedCompensation`	$18.07K	USD	Annual
Equity based compensation charge	`ShareBasedCompensation`	$88.33K	USD	Annual
Gain on debt forgiven	`GainOnForgivenessOfDebtByIssuer`	$200.00K	USD	Annual
Gain on debt forgiven	`GainOnForgivenessOfDebtByIssuer`	-	USD	Annual
Increase in provision for bad debts	`ProvisionForDoubtfulAccounts`	$4.29K	USD	Annual
Increase in provision for bad debts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.40K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-125.00	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.65K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.82K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-103.95K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-6.62K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-45.30K	USD	Annual
Cash Used in Operating Activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-570.14K	USD	Annual
Cash Used in Operating Activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.86M	USD	Annual
Cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-444.74K	USD	Annual
Cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	Annual
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-570.14K	USD	Annual
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.30M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$200.90K	USD	Annual
Investment in deposit	`PaymentsToAcquireInvestments`	$530.00	USD	Annual
Investment in deposit	`PaymentsToAcquireInvestments`	$4.77K	USD	Annual
Cash used in investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-205.67K	USD	Annual
Cash used in investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-530.00	USD	Annual
Cash used in investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Cash used in investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-4.78K	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-530.00	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-210.45K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES - DISCONTINUED OPERATIONS	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$449.53K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES - DISCONTINUED OPERATIONS	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	-	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$449.53K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-570.67K	USD	Annual
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.06M	USD	Annual
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$9.17M	USD	Point-in-time
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$11.23M	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$9.17M	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$11.23M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Discontinuance Of Joint Venture	`DiscontinuanceOfJointVenture`	$1.03M	USD	Annual
Discontinuance Of Joint Venture	`DiscontinuanceOfJointVenture`	-	USD	Annual
Undeclared Series B And Series C Dividends	`UndeclaredSeriesBAndSeriesCDividends`	$626.00K	USD	Annual
Undeclared Series B And Series C Dividends	`UndeclaredSeriesBAndSeriesCDividends`	$627.71K	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.12M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.57M	USD	Point-in-time
Stock option based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$88.33K	USD	Annual
Stock option based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$18.07K	USD	Annual
Discontinuance of joint venture	`AdjustmentsToAdditionalPaidInCapitalOther`	$1.03M	USD	Annual
Net loss	`ProfitLoss`	$-601.89K	USD	Annual
Net loss	`ProfitLoss`	$-4.37M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.12M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.57M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.