10-Q Filing

PLEDGE PETROLEUM CORP CIK: 1434110 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-027321`
Period End Date	20190331
Filing Date	20190520
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	prop-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 19 Cash Flow Statement 22 Stockholders Equity 5

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Amortization of Debt Issuance Costs and Discounts	`AmortizationOfFinancingCostsAndDiscounts`	$83.53K	USD	1 Quarter
Cash	`Cash`	$204.00	USD	Point-in-time
Cash	`Cash`	$21.14K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$12.99K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$11.27K	USD	Point-in-time
Prepaid stock compensation related party	`EmployeePrepaidStockCompensation`	$108.33K	USD	Point-in-time
Prepaid stock compensation related party	`EmployeePrepaidStockCompensation`	$133.33K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$121.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$165.74K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.62K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.88K	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
Deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$1.75K	USD	Point-in-time
Total assets	`Assets`	$124.15K	USD	Point-in-time
Total assets	`Assets`	$171.38K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	484.26M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	484.26M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	484.26M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	484.26M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$81.10K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$171.15K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$13.15K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$11.52K	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$1.92K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$181.97K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Convertible note payable, net of discount of $83,529	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable, net of discount of $83,529	`ConvertibleNotesPayableCurrent`	$19.47K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$62.70K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$5.89K	USD	Point-in-time
Loan payable related party	`LoanPayableToRelatedPartyCurrent`	$5.00K	USD	Point-in-time
Loan payable related party	`LoanPayableToRelatedPartyCurrent`	$5.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$103.51K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$455.36K	USD	Point-in-time
Total liabilities	`Liabilities`	$455.36K	USD	Point-in-time
Total liabilities	`Liabilities`	$103.51K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 484,256,464 shares issued and outstanding	`CommonStockValue`	$484.26K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 484,256,464 shares issued and outstanding	`CommonStockValue`	$484.26K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-416.43K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-815.51K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-331.22K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$171.38K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$124.15K	USD	Point-in-time

Income Statement 19 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$31.00K	USD	1 Quarter
Directors fees	`DirectorFeesExpense`	$90.00K	USD	1 Quarter
Compensation related party	`CompensationExpenseRelatedParty`	$15.00K	USD	1 Quarter
Stock compensation related party	`ShareBasedCompensation`	$25.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$137.73K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$298.73K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-298.73K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.92K	USD	1 Quarter
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	$19.47K	USD	1 Quarter
Change in the fair value of convertible debt	`DerivativeGainLossOnDerivativeNet`	$197.15K	USD	1 Quarter
Loss on issuance of convertible debt	`LossOnIssuanceConvertibleDebt`	$276.12K	USD	1 Quarter
Total other income (expense)	`OtherExpenses`	$100.36K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-399.09K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-399.09K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$7.89K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-406.98K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	484.26M	shares	1 Quarter

Cash Flow Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-399.09K	USD	1 Quarter
Depreciation	`Depreciation`	$1.26K	USD	1 Quarter
Stock based compensation related party	`StockBasedCompensationRelatedParty`	$25.00K	USD	1 Quarter
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	$19.47K	USD	1 Quarter
Change in the fair value of convertible debt	`DerivativeGainLossOnDerivativeNet`	$197.15K	USD	1 Quarter
Loss on issuance of convertible debt	`LossOnIssuanceConvertibleDebt`	$276.12K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.28K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.75K	USD	1 Quarter
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$93.60K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$56.81K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-120.94K	USD	1 Quarter
Loan from a related party	`ProceedsFromRelatedPartyDebt`	$6.80K	USD	1 Quarter
Repayment of related party loan	`RepaymentsOfRelatedPartyDebt`	$6.80K	USD	1 Quarter
Proceeds from convertible debt	`ProceedsFromConvertibleDebt`	$100.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$100.00K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.94K	USD	1 Quarter
Cash at beginning of period	`Cash`	$204.00	USD	Point-in-time
Cash at beginning of period	`Cash`	$21.14K	USD	Point-in-time
Cash at end of period	`Cash`	$204.00	USD	Point-in-time
Cash at end of period	`Cash`	$21.14K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 5 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-331.22K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-399.09K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-331.22K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.87K	USD	Point-in-time

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