10-K Filing

PERMEX PETROLEUM CORP CIK: 1922639 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001493152-23-004359`
Period End Date	20220930
Filing Date	20230213
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 40 Cash Flow Statement 75 Stockholders Equity 16

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.10M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.81K	USD	Point-in-time
Trade and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$12.98K	USD	Point-in-time
Trade and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$137.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.93M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.10M	shares	Point-in-time
Prepaid expenses and deposits	`PrepaidExpensesAndDepositsCurrent`	$46.15K	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpensesAndDepositsCurrent`	$317.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$84.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.75M	USD	Point-in-time
Reclamation deposits	`ReclamationDeposits`	$145.00K	USD	Point-in-time
Reclamation deposits	`ReclamationDeposits`	$144.85K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and depletion	`PropertyPlantAndEquipmentNet`	$6.64M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and depletion	`PropertyPlantAndEquipmentNet`	$8.43M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$240.80K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$72.54K	USD	Point-in-time
Total assets	`Assets`	$6.94M	USD	Point-in-time
Total assets	`Assets`	$12.57M	USD	Point-in-time
Trade and other payables	`AccountsPayableOtherCurrent`	$402.98K	USD	Point-in-time
Trade and other payables	`AccountsPayableOtherCurrent`	$1.56M	USD	Point-in-time
Amounts due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Amounts due to related party	`DueToRelatedPartiesCurrent`	$16.63K	USD	Point-in-time
Convertible debenture	`ConvertibleDebtCurrent`	$78.50K	USD	Point-in-time
Convertible debenture	`ConvertibleDebtCurrent`	$38.29K	USD	Point-in-time
Lease liability current portion	`OperatingLeaseLiabilityCurrent`	$104.22K	USD	Point-in-time
Lease liability current portion	`OperatingLeaseLiabilityCurrent`	$51.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$550.07K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$236.41K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$552.59K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$140.68K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$26.99K	USD	Point-in-time
Loan payable	`LongTermLoansPayable`	-	USD	Point-in-time
Loan payable	`LongTermLoansPayable`	$31.40K	USD	Point-in-time
Warrant liability	`WarrantLiabilityNoncurrent`	-	USD	Point-in-time
Warrant liability	`WarrantLiabilityNoncurrent`	$23.50K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.10M	USD	Point-in-time
Common stock, no par value per share; unlimited shares authorized, 1,932,604 and 1,103,010 shares issued and outstanding as of September 30, 2022 and September 30, 2021, respectively.	`CommonStockValue`	$14.34M	USD	Point-in-time
Common stock, no par value per share; unlimited shares authorized, 1,932,604 and 1,103,010 shares issued and outstanding as of September 30, 2022 and September 30, 2021, respectively.	`CommonStockValue`	$8.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.48M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-127.41K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-127.41K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.26M	USD	Point-in-time
Total equity	`StockholdersEquity`	$5.78M	USD	Point-in-time
Total equity	`StockholdersEquity`	$10.46M	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.31M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$12.57M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.94M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenuesNetOfInterestExpense`	$878.46K	USD	Annual
Total revenues	`RevenuesNetOfInterestExpense`	$84.62K	USD	Annual
Production	`ResultsOfOperationsExpenseFromOilAndGasProducingActivities`	$829.19K	USD	Annual
Production	`ResultsOfOperationsExpenseFromOilAndGasProducingActivities`	$59.67K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$496.38K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.80M	USD	Annual
Depletion and depreciation	`DepreciationDepletionAndAmortization`	$105.50K	USD	Annual
Depletion and depreciation	`DepreciationDepletionAndAmortization`	$60.48K	USD	Annual
Accretion on asset retirement obligations	`AccretionExpenseIncludingAssetRetirementObligations`	$55.03K	USD	Annual
Accretion on asset retirement obligations	`AccretionExpenseIncludingAssetRetirementObligations`	$19.91K	USD	Annual
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-24.30K	USD	Annual
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$7.43K	USD	Annual
Forfeiture of reclamation deposit	`ForfeitureOfReclamationDeposit`	$-50.16K	USD	Annual
Forfeiture of reclamation deposit	`ForfeitureOfReclamationDeposit`	-	USD	Annual
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$-613.46K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.78M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.32M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.24M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.90M	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Interest income	`InterestIncomeOther`	$5.89K	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Other income	`OtherIncome`	$24.00K	USD	Annual
Forgiveness of loan	`ForgivenessOfLoan`	$7.80K	USD	Annual
Forgiveness of loan	`ForgivenessOfLoan`	-	USD	Annual
Finance expense	`FinanceLeaseInterestExpense`	$30.59K	USD	Annual
Finance expense	`FinanceLeaseInterestExpense`	$13.51K	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-178.51K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.51K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$185.62K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$142.89K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.11M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.71M	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasic`	$-1.76	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasic`	$-1.84	USD	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Accretion on asset retirement obligations	`AccretionExpenseIncludingAssetRetirementObligations`	$55.03K	USD	Annual
Accretion on asset retirement obligations	`AccretionExpenseIncludingAssetRetirementObligations`	$19.91K	USD	Annual
Depletion and depreciation	`DepreciationAndAmortization`	$105.50K	USD	Annual
Depletion and depreciation	`DepreciationAndAmortization`	$60.48K	USD	Annual
Foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossRealized`	$7.17K	USD	Annual
Foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossRealized`	$-87.75K	USD	Annual
Forfeiture of reclamation bond	`ForfeitureOfReclamationBond`	-	USD	Annual
Forfeiture of reclamation bond	`ForfeitureOfReclamationBond`	$-50.16K	USD	Annual
Forgiveness of loan payable	`ForgivenessOfLoanPayable`	$7.80K	USD	Annual
Forgiveness of loan payable	`ForgivenessOfLoanPayable`	10,000.00	CAD	Annual
Forgiveness of loan payable	`ForgivenessOfLoanPayable`	-	USD	Annual
Finance expense	`FinanceLeaseRightOfUseAssetAmortization`	$18.03K	USD	Annual
Finance expense	`FinanceLeaseRightOfUseAssetAmortization`	$13.51K	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-178.51K	USD	Annual
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$-613.46K	USD	Annual
Extinguishment of trade and other payables	`ExtinguishmentOfTradeAndOtherPayables`	$9.68K	USD	Annual
Extinguishment of trade and other payables	`ExtinguishmentOfTradeAndOtherPayables`	$4.37K	USD	Annual
Share-based payments	`AllocatedShareBasedCompensationExpense`	$2.87K	USD	Annual
Share-based payments	`AllocatedShareBasedCompensationExpense`	$546.34K	USD	Annual
Shares issued for services	`SharesIssuedForServices`	-	USD	Annual
Shares issued for services	`SharesIssuedForServices`	$54.96K	USD	Annual
Trade and other receivables	`IncreaseDecreaseInOtherReceivables`	$124.23K	USD	Annual
Trade and other receivables	`IncreaseDecreaseInOtherReceivables`	$-34.09K	USD	Annual
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$271.13K	USD	Annual
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$29.98K	USD	Annual
Trade and other payables	`TradeAndOtherPayables`	$-234.47K	USD	Annual
Trade and other payables	`TradeAndOtherPayables`	$584.22K	USD	Annual
Amounts due to related parties	`AmountsDueToRelatedPartiesCurrent`	$-162.60K	USD	Annual
Amounts due to related parties	`AmountsDueToRelatedPartiesCurrent`	$-24.54K	USD	Annual
Right of use asset and lease liability	`RightOfUseAssetAndLeaseLiability`	$-3.01K	USD	Annual
Right of use asset and lease liability	`RightOfUseAssetAndLeaseLiability`	$785.00	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-749.78K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.02M	USD	Annual
Capital expenditures on property and equipment	`PaymentsToAcquireProductiveAssets`	$265.72K	USD	Annual
Capital expenditures on property and equipment	`PaymentsToAcquireProductiveAssets`	$1.69M	USD	Annual
Proceeds from sale of oil and gas interests	`ProceedsFromSaleOfOilAndGasInterests`	$1.12M	USD	Annual
Proceeds from sale of oil and gas interests	`ProceedsFromSaleOfOilAndGasInterests`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$857.53K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.69M	USD	Annual
Proceeds from issuance of share capital	`ProceedsFromIssuanceOfShareCapital`	-	USD	Annual
Proceeds from issuance of share capital	`ProceedsFromIssuanceOfShareCapital`	$8.11M	USD	Annual
Share issuance costs	`PaymentsOfStockIssuanceCosts`	$1.07M	USD	Annual
Share issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Convertible debenture repayment	`RepaymentsOfConvertibleDebt`	47,546.00	CAD	Annual
Convertible debenture repayment	`RepaymentsOfConvertibleDebt`	$79.00K	USD	Annual
Convertible debenture repayment	`RepaymentsOfConvertibleDebt`	$34.71K	USD	Annual
Loan from related party	`RepaymentsOfRelatedPartyDebt`	$1.45K	USD	Annual
Loan from related party	`RepaymentsOfRelatedPartyDebt`	$8.46K	USD	Annual
Loan repayment	`RepaymentsOfShortTermDebt`	$23.60K	USD	Annual
Loan repayment	`RepaymentsOfShortTermDebt`	-	USD	Annual
Loan repayment	`RepaymentsOfShortTermDebt`	30,000.00	CAD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-87.45K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.98M	USD	Annual
Change in cash and cash equivalents during the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$20.29K	USD	Annual
Change in cash and cash equivalents during the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.27M	USD	Annual
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.52K	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.81K	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.30M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.52K	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.81K	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.30M	USD	Point-in-time
Common stock issued in connection with property acquisition agreement	`CommonStockIssuedInConnectionWithPropertyAcquisitionAgreement`	-	USD	Annual
Common stock issued in connection with property acquisition agreement	`CommonStockIssuedInConnectionWithPropertyAcquisitionAgreement`	$2.47M	USD	Annual
Share purchase warrants issued in connection with private placements and property acquisition	`SharePurchaseWarrantsIssuedInConnectionWithPrivatePlacement`	$1.05M	USD	Annual
Share purchase warrants issued in connection with private placements and property acquisition	`SharePurchaseWarrantsIssuedInConnectionWithPrivatePlacement`	$1.69M	USD	Annual
Trade and other payables related to property and equipment	`TradeAndOtherPayablesRelatedToPropertyAndEquipment`	$647.25K	USD	Annual
Trade and other payables related to property and equipment	`TradeAndOtherPayablesRelatedToPropertyAndEquipment`	$68.73K	USD	Annual
Adjustments to asset retirement obligations	`AdjustmentsToAssetRetirementObligations`	$-371.21K	USD	Annual
Adjustments to asset retirement obligations	`AdjustmentsToAssetRetirementObligations`	$376.65K	USD	Annual
Interest paid	`InterestPaidNet`	$13.09K	USD	Annual
Interest paid	`InterestPaidNet`	$24.54K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$5.78M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$10.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$3.31M	USD	Point-in-time
Acquisition of property	`StockIssuedDuringPeriodValueAcquisitions`	$2.47M	USD	Annual
Acquisition of property - warrants	`StockIssuedDuringPeriodValueAcquisitionOfPropertyWarrants`	$1.05M	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$54.96K	USD	Annual
Share-based payments	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.87K	USD	Annual
Share-based payments	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$546.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$142.89K	USD	Annual
Private placements	`StockIssuedDuringPeriodValueOther`	$7.91M	USD	Annual
Share issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$-1.06M	USD	Annual
Ending balance, value	`StockholdersEquity`	$5.78M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$10.46M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$3.31M	USD	Point-in-time

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