10-Q Filing

STRATEX OIL & GAS HOLDINGS, INC. CIK: 1482361 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001213900-15-003817`
Period End Date	20150331
Filing Date	20150515
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	sttx-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 36 Cash Flow Statement 86

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Series A preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A preferred stock, shares authorized	`PreferredStockSharesAuthorized`	400.00	shares	Point-in-time
Series A preferred stock, shares authorized	`PreferredStockSharesAuthorized`	400.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Series A Preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$224.20K	USD	Point-in-time
Series A Preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.05M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$609.06K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$448.70K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$244.10K	USD	Point-in-time
Series A Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Series A Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$39.59K	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
Prepaid expenses	`PrepaidExpenseCurrent`	$3.67K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$471.98K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.43M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$146.75K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	120.74M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.90M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$128.81K	USD	Point-in-time
Debt issuance costs	`DebtIssuanceCostOne`	$1.52M	USD	Point-in-time
Debt issuance costs	`DebtIssuanceCostOne`	$1.89M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	120.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	116.90M	shares	Point-in-time
Treasury stock shares, Series A, preferred stock	`TreasuryStockShares`	40.00	shares	Point-in-time
Treasury stock shares, Series A, preferred stock	`TreasuryStockShares`	40.00	shares	Point-in-time
Proven property - net	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$9.83M	USD	Point-in-time
Proven property - net	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$9.00M	USD	Point-in-time
Unproven property	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$10.95M	USD	Point-in-time
Unproven property	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$11.26M	USD	Point-in-time
Support facilities and related well equipment - net	`CapitalizedCostsSupportEquipmentAndFacilities`	$2.25M	USD	Point-in-time
Support facilities and related well equipment - net	`CapitalizedCostsSupportEquipmentAndFacilities`	$2.65M	USD	Point-in-time
Vehicles, furniture and equipment - net	`PropertyPlantAndEquipmentNet`	$114.83K	USD	Point-in-time
Vehicles, furniture and equipment - net	`PropertyPlantAndEquipmentNet`	$2.38K	USD	Point-in-time
Vehicles, furniture and equipment - net	`PropertyPlantAndEquipmentNet`	$122.31K	USD	Point-in-time
Total Assets	`Assets`	$24.76M	USD	Point-in-time
Total Assets	`Assets`	$28.00M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.61M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.95M	USD	Point-in-time
Demand notes payable	`OtherNotesPayableCurrent`	$322.57K	USD	Point-in-time
Demand notes payable	`OtherNotesPayableCurrent`	$322.57K	USD	Point-in-time
Current maturities of notes payable - net of debt discount	`NotesPayableCurrent`	$678.03K	USD	Point-in-time
Current maturities of notes payable - net of debt discount	`NotesPayableCurrent`	$573.09K	USD	Point-in-time
Current maturities of convertible notes payable - net of debt discount	`ConvertibleNotesPayableCurrent`	$138.18K	USD	Point-in-time
Current maturities of convertible notes payable - net of debt discount	`ConvertibleNotesPayableCurrent`	$138.18K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$88.00K	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	$128.83K	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	$25.58K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.86M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.12M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$663.27K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$639.35K	USD	Point-in-time
Notes payable - net of debt discount	`LongTermNotesPayable`	$1.20M	USD	Point-in-time
Notes payable - net of debt discount	`LongTermNotesPayable`	$1.26M	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleLongTermNotesPayable`	$19.18M	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleLongTermNotesPayable`	$18.66M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$21.05M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$20.56M	USD	Point-in-time
Total Liabilities	`Liabilities`	$25.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$25.42M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A, convertible preferred stock, $0.0001 par value; 400 shares authorized; 100 shares issued; 0 and 0 shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A, convertible preferred stock, $0.0001 par value; 400 shares authorized; 100 shares issued; 0 and 0 shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 750,000,000 shares authorized; and 120,737,337 and 116,904,004 shares issued and outstanding	`CommonStockValue`	$1.17M	USD	Point-in-time
Common stock, $0.01 par value; 750,000,000 shares authorized; and 120,737,337 and 116,904,004 shares issued and outstanding	`CommonStockValue`	$1.21M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$29.32M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$29.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-27.89M	USD	Point-in-time
Less: Treasury stock, 40 shares Series A, convertible preferred stock, at cost	`TreasuryStockValue`	$20.00K	USD	Point-in-time
Less: Treasury stock, 40 shares Series A, convertible preferred stock, at cost	`TreasuryStockValue`	$20.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-400.16K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.58M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$24.76M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$28.00M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$309.73K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$98.36K	USD	1 Quarter
Production expenses	`OtherGeneralExpense`	$311.53K	USD	1 Quarter
Production expenses	`OtherGeneralExpense`	$40.94K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$17.52K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationAndAmortization`	$178.65K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$679.43K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$778.61K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$705.33K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Loss on abandonment of oil and gas assets	`GainLossOnAbandonmentOfOilAndGasProperty`	$331.40K	USD	1 Quarter
Loss on abandonment of oil and gas assets	`GainLossOnAbandonmentOfOilAndGasProperty`	-	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$837.07K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.21M	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-1.90M	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-738.71K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.64M	USD	1 Quarter
Interest expense	`InterestExpense`	$325.03K	USD	1 Quarter
Change in fair value - derivative liabilities	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-89.42K	USD	1 Quarter
Change in fair value - derivative liabilities	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$103.25K	USD	1 Quarter
Warrant amendment expense	`WarrantAmendmentExpense`	-	USD	1 Quarter
Warrant amendment expense	`WarrantAmendmentExpense`	$14.76K	USD	1 Quarter
Gain on sale of oil and gas interests	`GainLossOnSaleOfOilAndGasProperty`	-	USD	1 Quarter
Gain on sale of oil and gas interests	`GainLossOnSaleOfOilAndGasProperty`	$450.00K	USD	1 Quarter
Loss on settlement of liabilities	`GainLossRelatedToLitigationSettlement`	$-92.08K	USD	1 Quarter
Loss on settlement of liabilities	`GainLossRelatedToLitigationSettlement`	$-1.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$39.17K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Total Other Income and (Expense)	`NonoperatingIncomeExpense`	$58.98K	USD	1 Quarter
Total Other Income and (Expense)	`NonoperatingIncomeExpense`	$-1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-679.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.53M	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	47.29M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	116.95M	shares	1 Quarter

Cash Flow Statement 86 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-679.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.53M	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$178.65K	USD	1 Quarter
Depletion, depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.52K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$126.34K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$57.04K	USD	1 Quarter
Warrant amendment expense	`WarrantAmendmentExpense`	-	USD	1 Quarter
Warrant amendment expense	`WarrantAmendmentExpense`	$14.76K	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$366.68K	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$34.27K	USD	1 Quarter
Accretion of debt discount	`AccretionOfDebtDiscount`	$572.04K	USD	1 Quarter
Accretion of debt discount	`AccretionOfDebtDiscount`	$167.36K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$705.33K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Loss on abandonment of oil and gas assets	`GainLossOnAbandonmentOfOilAndGasProperty`	$331.40K	USD	1 Quarter
Loss on abandonment of oil and gas assets	`GainLossOnAbandonmentOfOilAndGasProperty`	-	USD	1 Quarter
Loss on settlement of liabilities	`GainLossRelatedToLitigationSettlement`	$-92.08K	USD	1 Quarter
Loss on settlement of liabilities	`GainLossRelatedToLitigationSettlement`	$-1.00K	USD	1 Quarter
Income from forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Income from forgiveness of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on sale of oil and gas interests	`GainLossOnSaleOfOilAndGasProperty`	-	USD	1 Quarter
Gain on sale of oil and gas interests	`GainLossOnSaleOfOilAndGasProperty`	$450.00K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-89.42K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$103.25K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.02K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-204.60K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-35.92K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$54.59K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$-25.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$-17.94K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$947.34K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-585.22K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.62M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$108.36K	USD	1 Quarter
Purchase of oil and gas properties	`PaymentsToAcquireProductiveAssets`	$2.25M	USD	1 Quarter
Purchase of oil and gas properties	`PaymentsToAcquireProductiveAssets`	$84.47K	USD	1 Quarter
Proceeds from sale of oil and gas interests	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$45.00K	USD	1 Quarter
Proceeds from sale of oil and gas interests	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	-	USD	1 Quarter
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasProperties`	-	USD	1 Quarter
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasProperties`	$-21.00K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.70K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.20K	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-87.67K	USD	1 Quarter
Net Cash Provided By (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.23M	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$400.00K	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	$96.37K	USD	1 Quarter
Repayments on notes payable	`RepaymentsOfNotesPayable`	$2.54K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleNotesPayable`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleNotesPayable`	$-8.62M	USD	1 Quarter
Repayments on capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$3.51K	USD	1 Quarter
Repayments on capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	-	USD	1 Quarter
Debt issuance costs paid in cash	`PaymentsOfDebtIssuanceCosts`	$366.92K	USD	1 Quarter
Debt issuance costs paid in cash	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net Cash Provided By (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.05K	USD	1 Quarter
Net Cash Provided By (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$8.56M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.71M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.44M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$224.20K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.05M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$609.06K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$224.20K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.05M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$609.06K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$68.57K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$527.11K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Issuance of common stock to settle liabilities	`IssuanceOfCommonStockToSettleLiabilities`	$9.00K	USD	1 Quarter
Issuance of common stock to settle liabilities	`IssuanceOfCommonStockToSettleLiabilities`	$283.50K	USD	1 Quarter
Original issue discount on notes payable	`OriginalIssueDiscountOnNotesPayable`	$160.00K	USD	1 Quarter
Original issue discount on notes payable	`OriginalIssueDiscountOnNotesPayable`	-	USD	1 Quarter
Original issue discount on convertible notes payable	`OriginalIssueDiscountOnConvertibleNotesPayable`	-	USD	1 Quarter
Original issue discount on convertible notes payable	`OriginalIssueDiscountOnConvertibleNotesPayable`	$2.43M	USD	1 Quarter
Debt issuance costs paid in the form of warrants	`DebtIssuanceCostsPaidInTheFormOfWarrants`	-	USD	1 Quarter
Debt issuance costs paid in the form of warrants	`DebtIssuanceCostsPaidInTheFormOfWarrants`	$372.96K	USD	1 Quarter
Debt issuance costs accrued	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs accrued	`PaymentsOfStockIssuanceCosts`	$345.02K	USD	1 Quarter
Increase in asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$95.00K	USD	1 Quarter
Increase in asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$35.46K	USD	1 Quarter
Vehicles purchased through issuance of notes payable	`VehiclePurchasedThroughIssuanceOfNotePayable`	$28.51K	USD	1 Quarter
Vehicles purchased through issuance of notes payable	`VehiclePurchasedThroughIssuanceOfNotePayable`	-	USD	1 Quarter
Capitalized oil and gas properties included in accounts payable	`CapitalizedOilAndGasPropertiesIncludedInAccountsPayable`	$187.22K	USD	1 Quarter
Capitalized oil and gas properties included in accounts payable	`CapitalizedOilAndGasPropertiesIncludedInAccountsPayable`	-	USD	1 Quarter

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