10-Q Filing

STRATEX OIL & GAS HOLDINGS, INC. CIK: 1482361 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-002548`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	fil-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 29 Cash Flow Statement 61 Stockholders Equity 23

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Series A, convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A, convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A, convertible preferred stock, Shares Authorized	`PreferredStockSharesAuthorized`	100.00	shares	Point-in-time
Series A, convertible preferred stock, Shares Authorized	`PreferredStockSharesAuthorized`	100.00	shares	Point-in-time
Cash	`Cash`	$75.10K	USD	Point-in-time
Series A, convertible preferred stock, Shares Issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Cash	`Cash`	$460.62K	USD	Point-in-time
Series A, convertible preferred stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A, convertible preferred stock, Shares Outstanding	`PreferredStockSharesOutstanding`	100.00	shares	Point-in-time
Series A, convertible preferred stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable - net	`AccountsReceivableNet`	$180.53K	USD	Point-in-time
Accounts receivable - net	`AccountsReceivableNet`	$108.59K	USD	Point-in-time
Inventory	`InventoryNet`	$24.07K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$24.07K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$37.31K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$38.83K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$702.52K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	44.35M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$246.59K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	44.28M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	44.28M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	44.35M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.00K	USD	Point-in-time
Proven property - net	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$985.61K	USD	Point-in-time
Proven property - net	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$586.65K	USD	Point-in-time
Unproven property	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$2.06M	USD	Point-in-time
Unproven property	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$2.06M	USD	Point-in-time
Furniture and equipment - net	`PropertyPlantAndEquipmentNet`	$858.00	USD	Point-in-time
Furniture and equipment - net	`PropertyPlantAndEquipmentNet`	$994.00	USD	Point-in-time
Total Assets	`Assets`	$2.90M	USD	Point-in-time
Total Assets	`Assets`	$3.76M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.03M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$419.66K	USD	Point-in-time
Demand notes payable	`OtherNotesPayableCurrent`	$180.00K	USD	Point-in-time
Demand notes payable	`OtherNotesPayableCurrent`	$216.00K	USD	Point-in-time
Notes payable - net of debt discount	`NotesPayableCurrent`	$148.73K	USD	Point-in-time
Notes payable - net of debt discount	`NotesPayableCurrent`	$222.98K	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	$591.34K	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	$593.55K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.34M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	-	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$34.00K	USD	Point-in-time
Notes payable - net of debt discount	`LongTermNotesPayable`	-	USD	Point-in-time
Notes payable - net of debt discount	`LongTermNotesPayable`	$8.78K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$42.78K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.11M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.34M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A, convertible preferred stock, $0.0001 par value; 100 shares authorized; and 100 and 0 shares issued and outstanding	`PreferredStockValue`	$1.00	USD	Point-in-time
Series A, convertible preferred stock, $0.0001 par value; 100 shares authorized; and 100 and 0 shares issued and outstanding	`PreferredStockValue`	$1.00	USD	Point-in-time
Common stock, $0.01 par value; 750,000,000 shares authorized; and 44,347,556 and 44,281,127 shares issued and outstanding	`CommonStockValue`	$443.48K	USD	Point-in-time
Common stock, $0.01 par value; 750,000,000 shares authorized; and 44,347,556 and 44,281,127 shares issued and outstanding	`CommonStockValue`	$442.81K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$9.77M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$10.42M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$8.66M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$9.22M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.65M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.56M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.76M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$220.21K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$266.78K	USD	1 Quarter
Production expenses	`ExplorationExpense`	$68.30K	USD	1 Quarter
Production expenses	`ExplorationExpense`	$60.07K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$32.32K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$67.20K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$456.33K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$281.58K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$417.09K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$582.72K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-196.88K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-315.94K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$534.00	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$260.64K	USD	1 Quarter
Interest expense	`InterestExpense`	$230.17K	USD	1 Quarter
Change in fair value - derivative liabilities	`IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments`	$5.05K	USD	1 Quarter
Change in fair value - derivative liabilities	`IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments`	$2.22K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$12.96K	USD	1 Quarter
Total Other Income and (Expense)	`NonoperatingIncomeExpense`	$-224.58K	USD	1 Quarter
Total Other Income and (Expense)	`NonoperatingIncomeExpense`	$-245.46K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.67M	USD	Annual
Net Loss	`NetIncomeLoss`	$-421.46K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-561.41K	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted Average Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.33M	shares	1 Quarter
Weighted Average Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.85M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-421.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-561.41K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$32.32K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$67.20K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$114.08K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$75.00K	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$15.76K	USD	1 Quarter
Accretion of debt discount	`AccretionOfDebtDiscount`	$258.54K	USD	1 Quarter
Accretion of debt discount	`AccretionOfDebtDiscount`	$211.94K	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments`	$5.05K	USD	1 Quarter
Change in fair value of derivative liabilities	`IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments`	$2.22K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$24.43K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$71.94K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$23.40K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.53K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-4.07K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$614.19K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-89.40K	USD	1 Quarter
Asset retirement obligations	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
Asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$34.00K	USD	1 Quarter
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$419.08K	USD	1 Quarter
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-189.77K	USD	1 Quarter
Purchase of oil and gas properties	`PaymentsToAcquireProductiveAssets`	$508.08K	USD	1 Quarter
Purchase of oil and gas properties	`PaymentsToAcquireProductiveAssets`	$433.57K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-508.08K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-433.57K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$60.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$400.00K	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	$100.00K	USD	1 Quarter
Sale of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$123.48K	USD	1 Quarter
Sale of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from subscriptions payable	`ProceedsFromSubscriptionsPayable`	-	USD	1 Quarter
Proceeds from subscriptions payable	`ProceedsFromSubscriptionsPayable`	$-134.02K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$217.50K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$400.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-480.35K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$385.51K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.10K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$105.46K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$585.80K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$460.62K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.10K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$105.46K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$585.80K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$460.62K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$3.92K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Conversion of notes payable and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Conversion of notes payable and accrued interest to common stock	`DebtConversionConvertedInstrumentAmount1`	$36.00K	USD	1 Quarter
Original issue discount on notes payable	`OriginalIssueDiscountOnNotesPayable`	$400.00K	USD	1 Quarter
Original issue discount on notes payable	`OriginalIssueDiscountOnNotesPayable`	$12.00K	USD	1 Quarter
Derivative liability recorded to debt discount at issuance of notes payable	`DerivativeLiabilityRecordedToDebtDiscountAtIssuanceOfNotesPayable`	-	USD	1 Quarter
Derivative liability recorded to debt discount at issuance of notes payable	`DerivativeLiabilityRecordedToDebtDiscountAtIssuanceOfNotesPayable`	$17.78K	USD	1 Quarter
Reclass convertible note to demand note	`ReclassConvertibleNoteToDemandNote`	$36.00K	USD	1 Quarter
Reclass convertible note to demand note	`ReclassConvertibleNoteToDemandNote`	-	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Series "A" Preferred stock issued for services, per share	`SeriesPreferredStockIssuedForServicesParValuePerShare`	$82.92	USD	Annual
Beginning Balance	`StockholdersEquity`	$1.65M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.56M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.95M	USD	Point-in-time
Series "A" Preferred stock issued for services ($82.92/share)	`StockIssuedDuringPeriodValuePreferredStockForServices`	$8.29K	USD	Annual
Series "A" Preferred stock issued for services ($82.92/share), Shares	`StockIssuedDuringPeriodSharesPreferredStockForServices`	100.00	shares	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueIssuedForCash`	$1.50M	USD	Annual
Conversion of notes payable and interest to common stock	`StockIssuedDuringPeriodValueConversionOfNotesPayableAndInterestToCommonStock`	$1.17M	USD	Annual
Conversion of notes payable and interest to common stock	`StockIssuedDuringPeriodValueConversionOfNotesPayableAndInterestToCommonStock`	$36.00K	USD	1 Quarter
Stock issued with promissory note	`StockIssuedDuringPeriodValueIssuedWithPromissoryNote`	$500.00K	USD	Annual
Stock issued to acquire oil and gas assets	`StockIssuedDuringPeriodValueStockIssuedToAcquireOilAndGasAssets`	$450.00K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.28M	USD	Annual
Stock issuance costs	`PaymentOfStockIssuanceCosts`	$-210.00K	USD	Annual
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.08K	USD	1 Quarter
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.57M	USD	Annual
Stock issued in reverse merger	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Warrants Issued With Promissory Note	`WarrantsIssuedWithPromissoryNote`	$503.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-421.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-561.41K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.95M	USD	Point-in-time

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