Viking Energy (VKIN) 10-Q/A 24 Aug 20 2020 Q2 Quarterly report (amended) Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Aug. 14, 2020
Cover [Abstract]
Entity Registrant Name	VIKING ENERGY GROUP, INC.
Entity Central Index Key	0001102432
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	This Amendment No. 1 to the Quarterly Report on Form 10-Q (the "Amended Report") for the quarter ended June 30, 2020, of Viking Energy Group, Inc. (the "Company") amends the Quarterly Report on Form 10-Q that was originally filed by the Company on August 20, 2020 (the "Original Report"), to (i) clarify the Company's current percentage ownership of one of its subsidiaries in the "Plan of Operations" section of Part I, Item 2; and (ii) clarify the Company's current liabilities in the "Results of Continuing Operations" section of Part I, Item 2. No other changes have been made to the Original Report, and this Amended Report is presented as of the filing date of the Original Report and does not reflect events occurring after that date or modify or update disclosures in any way other than as described herein.
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Common Stock Shares Outstanding		210,656,343
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 1,921,408	$ 1,761,495
Restricted cash	2,569,003	3,877,229
Accounts receivable - oil and gas - net	4,667,407	2,864,114
Prepaid expenses	53,378	168,994
Total current assets	9,211,196	8,671,832
Oil and gas properties, full cost method
Proved developed producing oil and gas properties, net	87,818,028	68,924,441
Proved undeveloped and non-producing oil and gas properties, net	58,047,338	50,817,675
Total oil and gas properties, net	145,865,366	119,742,116
Fixed assets, net	450,352	509,934
Derivative asset	8,428,610	0
Deposits	121,196	2,821,594
TOTAL ASSETS	164,076,720	131,745,476
Current liabilities:
Accounts payable	1,595,600	3,791,894
Accrued expenses and other current liabilities	4,082,845	3,229,594
Undistributed revenues and royalties	2,992,029	2,247,678
Derivative liability	0	5,158,822
Amount due to director	590,555	590,555
Current portion of long-term debt and other short-term borrowings - net of debt discount	63,059,086	19,225,045
Total current liabilities	72,320,115	34,243,588
Long term debt - net of current portion and debt discount	69,609,772	84,988,117
Operating lease liability	276,034	308,279
Asset retirement obligation	5,294,243	3,538,637
TOTAL LIABILITIES	147,500,164	123,078,621
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized, 28,092 shares issued and outstanding as of June 30, 2020 and December 31, 2019	28	28
Common stock, $0.001 par value, 500,000,000 shares authorized, 160,072,118 and 124,198,309 shares issued and outstanding as of June 30, 2020 and December 31, 2019 respectively.	160,072	124,198
Additional paid-in capital	44,123,010	38,825,392
Accumulated deficit	(27,551,915)	(30,282,763)
Equity attributable to Viking Energy Group, Inc.	16,731,195	8,666,855
Noncontrolling interest	(154,639)	0
TOTAL STOCKHOLDERS' EQUITY	16,576,556	8,666,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 164,076,720	$ 131,745,476

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
STOCKHOLDERS' EQUITY
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	28,092	28,092
Preferred stock, shares outstanding	28,092	28,092
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	160,072,118	124,198,309
Common stock, shares outstanding	160,072,118	124,198,309

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue
Oil and gas sales	$ 9,549,863	$ 8,734,323	$ 21,337,815	$ 18,080,915
Operating expenses
Lease operating costs	4,396,789	2,857,278	8,155,992	5,456,672
General and administrative	917,190	1,257,959	2,201,837	2,291,304
Stock based compensation	197,632	2,500	451,382	42,082
Depreciation, depletion andamortization	2,921,208	2,228,191	6,098,410	4,598,879
Accretion - ARO	115,658	75,681	241,278	158,227
Total operating expenses	8,548,477	6,421,609	17,148,899	12,547,164
Income from operations	1,001,386	2,312,714	4,188,916	5,533,751
Other income (expense)
Interest expense	(6,909,555)	(3,192,574)	(11,493,115)	(6,323,967)
Amortization of debt discount	(1,542,074)	(2,304,291)	(2,777,604)	(4,583,250)
Change in fair value of derivatives	(9,292,013)	4,474,016	13,587,431	(5,271,567)
Loss on financing settlements	(931,894)	0	(931,894)
Interest and other income	1,200	2,481	2,475	5,898
Total other income (expense)	(18,674,336)	(1,020,368)	(1,612,707)	(16,172,886)
Net income (loss) before income taxes	(17,672,950)	1,292,346	2,576,209	(10,639,135)
Income tax benefit (expense)	0	0	0	0
Net income (loss)	(17,672,950)	1,292,346	2,576,209	(10,639,135)
Net (income) loss attributable to noncontrolling interest	1,111,808	0	154,639	0
Net income (loss) attributable to Viking Energy Group, Inc.	$ (16,561,142)	$ 1,292,346	$ 2,730,848	$ (10,639,135)
Earnings (loss) per common share
Basic and Diluted	$ (0.13)	$ 0.01	$ 0.02	$ (0.12)
Weighted average number of common shares outstanding
Basic and Diluted	133,722,276	91,192,033	129,521,255	91,147,958

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ 2,576,209	$ (10,639,135)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Change in fair value of derivative liability	(13,587,431)	5,271,567
Stock based compensation	451,382	42,082
Depreciation, depletion and amortization	6,098,410	4,598,879
Amortization of operational right-of-use assets	1,192	2,228
Accretion - Asset retirement obligation	241,278	158,227
Amortization of debt discount	2,777,604	4,583,250
Loss on financing settlement	931,894
Stock based interest expense	2,178,356
Changes in operating assets and liabilities
Accounts receivable	(1,803,293)	(2,362,672)
Prepaid expenses and other assets	66,014	33,874
Accounts payable	(2,196,294)	(1,607,849)
Accrued expenses and other current liabilities	1,688,127	1,727,325
Undistributed revenues and royalties	744,351	100,416
Net cash provided by operating activities	167,799	1,908,192
Cash flows from investing activities:
Investment in and acquisition of oil and gas properties	(1,184,830)	(3,319,812)
Proceeds from sale of oil and gas interests	0	287,966
Net cash used in investing activities	(1,184,830)	(3,031,846)
Cash flows from financing activities:
Proceeds from long term debt	8,641,421	2,734,143
Proceeds from amount due to director	0	195,000
Proceeds from exercise of warrants	38,000	0
Short term advance	0	693,706
Repayment of long-term debt	(8,810,703)	(1,464,566)
Net cash provided by (used in) financing activities	(131,282)	2,158,283
Net increase (decrease) in cash	(1,148,313)	1,034,629
Cash and Restricted Cash, beginning of period	5,638,724	4,009,892
Cash and Restricted Cash, ending of period	4,490,411	5,044,521
Cash paid for:
Interest	7,613,188	4,383,027
Income taxes	0	0
Supplemental disclosure of Non-Cash Investing and Financing Activities:
Recognition of asset retirement obligation	1,514,328	94,796
Recognition of right-of-use asset and lease liability	0	367,365
Amortization of right-of-use asset and lease liability	15,751	28,738
Purchase of transportation equipment through direct financing	0	56,760
Proceeds from sale of oil and gas properties paid directly to reduce debt	0	3,800,000
Elimination of asset retirement obligation associated with sale of assets	0	797,796
Issuance of warrant shares as reduction of debt	15,000	0
Issuance of shares as discount on debt	718,860	0
Private placement debt exchanged for new private placement debt	654,000	0
Purchase of working interest through new debt	29,496,356	0
Accrued interest rolled into new private placement	103,583	0
Issuance of shares as reduction of debt and accrued expenses	$ 4,110,250	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Noncontrolling Interest
Balance, shares at Dec. 31, 2018		28,092	90,989,025
Balance, amount at Dec. 31, 2018	$ 21,215,017	$ 28	$ 90,989	$ 32,015,913	$ (10,891,913)	$ 0
Shares issued for services, shares			210,929
Shares issued for services, amount	42,082		$ 211	41,871
Net income (loss)	(10,639,135)				(10,639,135)
Balance, shares at Jun. 30, 2019		28,092	91,199,954
Balance, amount at Jun. 30, 2019	10,617,964	$ 28	$ 91,200	32,057,784	(21,531,048)	0
Balance, shares at Dec. 31, 2019		28,092	124,198,309
Balance, amount at Dec. 31, 2019	8,666,855	$ 28	$ 124,198	38,825,392	(30,282,763)	0
Shares issued for services, shares			3,235,255
Shares issued for services, amount	451,382		$ 3,235	448,147
Warrant exercise, shares			416,250
Net income (loss)	2,576,209				2,730,848	(154,639)
Warrant exercise, amount	38,000		$ 416	37,584
Warrants exercised to reduce debt, shares			150,000
Warrants exercised to reduce debt, amount	15,000		$ 150	14,850
Shares issued as debt discouint, shares			5,921,018
Shares issued as debt discouint, amount	718,860		$ 5,921	712,939
Shares issued as payment on debt, shares			26,151,286
Shares issued as payment on debt, amount	4,110,250		$ 26,152	4,084,098
Balance, shares at Jun. 30, 2020		28,092	160,072,118
Balance, amount at Jun. 30, 2020	$ 16,576,556	$ 28	$ 160,072	$ 44,123,010	$ (27,551,915)	$ (154,639)

Nature of Business and Going Co

Nature of Business and Going Concern	6 Months Ended
	Jun. 30, 2020
Nature of Business and Going Concern
Note 1. Nature of Business and Going Concern	Viking Energy Group, Inc. (“Viking” or the “Company”) is engaged in the acquisition, exploration, development and production of oil and natural gas properties, both individually and through collaborative partnerships with other companies in this field of endeavor. Since the beginning of 2019 the Company has had the following related activities: · On May 1, 2019, the Company’s subsidiary, Mid-Con Development, LLC sold all of its interests in the oil and gas assets Mid-Con Development, LLC owned in Ellis and Rooks Counties, Kansas, consisting of working interests in approximately 41 oil leases comprising several thousand acres. · On May 10, 2019, Petrodome Louisiana Pipeline LLC ("Petrodome LA"), a subsidiary of the Company’s subsidiary, Petrodome Energy, LLC, acquired a majority working interest in 6 gas wells (including 2 producing gas wells), 1 producing oil well and 1 salt water disposal well located in the East Mud Lake Field in Cameron Parish, Louisiana, with leases to mineral rights (oil and gas) concerning approximately 765 acres. · On February 3, 2020, Elysium Energy, LLC (“Elysium”), a wholly-owned subsidiary of Viking’s majority-owned subsidiary, Elysium Energy Holdings, LLC (“Elysium Holdings”), acquired interests in certain oil and gas properties located in Texas and Louisiana. The assets purchased included leases, working interests, and over-riding royalty interests in oil and gas properties in Texas (approximately 72 wells) and Louisiana (approximately 55 wells), along with associated equipment. On February 4, 2020, Elysium hedged 75% These accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company generated net income of $2,576,209 for the six months ended June 30, 2020 as compared to a net loss of $10,639,135 for the six months ended June 30, 2019. As of June 30, 2020, the Company has a working capital deficiency in excess of $62,000,000. The largest components of current liabilities creating this deficiency are (a) notes payable with a face value aggregating approximately $6.5 million as of June 30, 2020, due in August and December of 2020, (b) a revolving credit facility with a balance of $7,090,000 as of June 30, 2020, due in May of 2021, (c) a note payable of approximately $15.5 million as of June 30, 2020, due in June of 2021, (d) a term loan agreement of approximately $31.7 million as of June 30, 2020, and (e) other debtor obligations requiring principal payments of approximately $2 million in 2020. Management has evaluated these conditions and has developed a plan which, in part, address these obligations as follows: · The acquisition of Petrodome Energy LLC in 2017 and the oil and gas expertise retained by Petrodome at the end of 2017 provided an internal lease operating company to efficiently evaluate development opportunities. · The Ichor Energy Acquisition at the end of 2018 is believed to provide cash flow sufficient to not only satisfy the Company’s debt service associated with this acquisition, but to also fund a work over program to increase this purchased production beyond its current average daily production of 2,000 BOE and provide a quicker principal reduction, resulting in an increased equity position relative to these assets. Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the associated term loan, and distributions to Viking of $65,000 per month for general and administrative expenses, and a quarterly tax distribution at the current statutory rates if applicable. On a quarterly basis after appropriate distributions to the Company, any cash in excess of $2,000,000 plus unfunded approved development projects is swept by the term loan lender as an additional principal payment on the debt. · The Company has a revolving credit facility with CrossFirst Bank, which was approved for $30,000,000. The balance outstanding at June 30, 2020 is approximately $7,090,000 with a maturity date of May 10, 2021. Additional funds could be made available from this facility for projects reviewed and approved by the lender. · The Elysium Energy Acquisition on February 3, 2020 is believed to provide cash flow sufficient to not only satisfy the Company’s debt service associated with this acquisition, but to also fund a development program to increase this purchased production beyond its current average daily production of 2,700 BOE and provide a quicker principal reduction, resulting in an increased equity position relative to these assets. Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the associated term loan, certain oil and gas development projects approved by the lender, and a cost allocation for general and administrative expenses of $150,000 per month. Additionally, to the extent that Elysium has excess cash flow (as specified in the term loan agreement), the Company is required to make mandatory prepayments of the term loan, without penalty or premium, equal to seventy-five percent (75%) of such Excess Cash Flow. · With respect to the approximately $11.1 million at June 30, 2020 in face value of convertible notes due in August of 2020 and as discussed in Note 9, various holders have subsequently (i) exchanged approximately $2.2 million of such notes to for new convertible notes, that were then converted into shares of the Company’s stock, (ii) exchanged approximately $2.4 million of such notes into new convertible notes with a maturity of February 2022, and (iii) extended the due dates of approximately $6.3 million of such notes to December 31, 2020. Additionally, recent oil and gas price volatility as a result of geopolitical conditions and the global COVID-19 pandemic have already had, and are expected to continue to have a negative impact on the Company’s financial position and results of operations. Negative impacts include but are not limited to: the Company’s ability to sell our oil and gas production, reduction in the selling price of the Company’s oil and gas, failure of a counterparty to make required hedge payments, disruption of production as a result of worker illness or mandated production shutdowns, impairment of our oil and gas properties, the Company’s ability to maintain compliance with or renegotiate loan covenants and/or refinance existing indebtedness, and access to new capital and financing. These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to utilize the resources in place to generate future profitable operations, to maintain compliance with or renegotiate its loan covenants, to develop additional acquisition opportunities, and to obtain the necessary financing to meet its obligations and repay its liabilities arising from business operations when they come due. Management believes the Company will be able to continue to develop new opportunities, and will be able to obtain additional funds through debt and / or equity financings to facilitate its development strategy; however, there is no assurance of additional funding being available. These consolidated financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company have to curtail operations or be unable to continue in existence.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Note 2. Summary of Significant Accounting Policies	a) Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the interim reporting rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto contained in Viking’s latest Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments (unless otherwise indicated), necessary for a fair presentation of the financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. b) Basis of Consolidation The financial statements presented herein reflect the consolidated financial results of the Company, its wholly owned subsidiaries, Mid-Con Petroleum, LLC, Mid-Con Drilling, LLC, and Mid-Con Development, LLC, which were all formed to provide a base of operations for properties in the Central United States, and Petrodome Energy, LLC, Ichor Holdings, LLC, Ichor Energy, LLC, Ichor Energy (TX), LLC, and Ichor Energy (LA), LLC., and its majority owned (75%) subsidiary, Elysium Energy Holdings, LLC, and its wholly owned subsidiaries, Elysium Energy, LLC, Elysium Energy TX, LLC, Elysium Energy LA, LLC, Pointe A La Hache, L.L.C., Potash, L.L.C., Ramos Field, L.L.C., and Turtle Bayou, L.L.C., all based in Houston, Texas which provides a base of operations to facilitate property acquisitions in Texas, Louisiana and Mississippi. The noncontrolling interest (30%) of Elysium Energy Holdings, LLC and its subsidiaries is separately stated in stockholders’ equity in the consolidated balance sheet and the net income attributable to the noncontrolling interest is stated separately in the consolidated statement of operations. All significant intercompany transactions and balances have been eliminated. c) Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and timing of revenues and expenses, the reported amounts and classification of assets and liabilities, and disclosure of contingent assets and liabilities. Significant areas requiring the use of management estimates relate to impairment of long-lived assets, fair value of commodity derivatives, stock-based compensation, asset retirement obligations, and the determination of expected tax rates for future income tax recoveries. The estimates of proved, probable and possible oil and gas reserves are used as significant inputs in determining the depletion of oil and gas properties and the impairment of proved and unproved oil and gas properties. There are numerous uncertainties inherent in the estimation of quantities of proved, probable and possible reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and unproved oil and gas properties are subject to numerous uncertainties including, among others, estimates of future recoverable reserves and commodity price outlooks. Actual results could differ from the estimates and assumptions utilized. d) Financial Instruments Accounting Standards Codification, “ASC” Topic 820-10, “Fair Value Measurement” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 820-10, defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measurement. The carrying amounts reported in the consolidated balance sheets for deposits, accrued expenses and other current liabilities, accounts payable, derivative liabilities, amount due to director, and convertible notes each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows: • Level 1: inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3: inputs to the valuation methodology are unobservable and significant to the fair value measurement. Assets and liabilities measured at fair value as of June 30, 2020 are classified below based on the three fair value hierarchy described above: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets Commodity Derivative - 8,426,610 - 13,587,431 $ - $ 8,426,610 $ - $ 13,587,431 Financial liabilities - - - - Commodity Derivative $ - $ - $ - $ - Assets and liabilities measured at fair value as of December 31, 2019 are classified below based on the three fair value hierarchy described above: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets - - - - Commodity Derivative $ - $ - $ - $ - Financial liabilities Commodity Derivative - 5,158,822 - (3,308,880 ) $ - $ 5,158,822 $ - $ (3,308,880 ) The Company has entered into certain commodity derivative instruments containing swaps and collars, which management believes are effective in mitigating commodity price risk associated with a portion of its future monthly natural gas and crude oil production and related cash flows. The Company does not designate its commodities derivative instruments as hedges and therefore does not apply hedge accounting. Changes in fair value of derivative instruments subsequent to the initial measurement are recorded as change in fair value on derivative liability, in other income (expense). The estimated fair value amounts of the Company’s commodity derivative instruments have been determined at discrete points in time based on relevant market information which resulted in the Company classifying such derivatives as Level 2. Although the Company’s commodity derivative instruments are valued using public indices, as well as the Black-Sholes model, the instruments themselves are traded with unrelated counterparties and are not openly traded on an exchange. In a commodities swap agreement, the Company trades the fluctuating market prices of oil or natural gas at specific delivery points over a specified period, for fixed prices. As a producer of oil and natural gas, the Company holds these commodity derivatives to protect the operating revenues and cash flows related to a portion of its future natural gas and crude oil sales from the risk of significant declines in commodity prices, which helps reduce exposure to price risk and improves the likelihood of funding its capital budget. If the price of a commodity rises above what the Company has agreed to receive in the swap agreement, the amount that it agreed to pay the counterparty is expected to be offset by the increased amount it received for its production. The Company has also entered into collar agreements related to oil and gas production with established floors and ceilings. Upon settlement, if the current market price of the commodity is below the floor, the Company receives the difference. Conversely, if the current market price of the commodity is above the ceiling at settlement, the Company pays the excess over the ceiling price. Although the Company is exposed to credit risk to the extent of nonperformance by the counterparties to these derivative contracts, the Company does not anticipate such nonperformance and monitors the credit worthiness of its counterparties on an ongoing basis. The derivative assets were $8,428,610 and $0 as of June 30, 2020 and December 31, 2019 respectively, and the derivative liabilities were $0 and $5,158,822 as of June 30, 2020 and December 31, 2019 and 2018 respectively. The change in the fair value of the derivative assets and liabilities for the six months ended June 30, 2020 consisted of an increase of $12,756,834 associated with commodity derivatives existing at the beginning of 2020 and an increase of $830,598 associated with the new commodity derivative related to Elysium’s acquisition on February 3, 2020. The table below is a summary of the Company’s commodity derivatives as of June 30, 2020: Natural Gas Period Average MMBTU per Month Fixed Price per MMBTU Swap Dec-18 to Dec-22 118,936 $2.715 Collar Mar 20 / Aug 22 196,078 $2.00 / $2.43 Crude Oil Period Average BBL per Month Price per BBL Swap Dec-18 to Dec- 22 24,600 $50.85 Swap Jan-20 to Jun-20 1,400 $52.71 Collar Dec-17 to Jun-20 4,000 $55.00 / $72.00 Collar Feb 20 to Dec 20 16,278 $45.00 / $54.20 Collar Jan 21 to Dec 21 10,135 $45.00 / $56.00 Collar Jan 22 to July 22 6,934 $45.00 / $52.70 e) Cash and Cash Equivalents Cash and cash equivalents include cash in banks and highly liquid investment securities that have original maturities of three months or less. At June 30, 2020 and December 31, 2019, the Company has cash deposits in excess of FDIC insured limits in the amounts of $3,675,254 and $4,163,360 respectively. Restricted cash in the amount of $2,569,003 as of June 30, 2020 consists of $2,081,144 held by Ichor Energy, LLC and/or its subsidiaries and $487,859 held Elysium Energy, LLC and/or its subsidiaries. Pursuant to the Term Loan Credit Agreement to which Ichor Energy LLC and its subsidiaries are parties, following March 31, 2019 the company is required at all times to maintain a minimum cash balance of $2,000,000 (the “MLR”). Within 30 days of the end of each quarter, commencing with the quarter ended June 30, 2019, the company is required to pay the lenders, as an additional principal payment on the debt, any cash in excess of (i) the MLR and (ii) any funds necessary for the capital expenditures contemplated to be expended in the next six month period by an approved plan of development (“APOD Capex Amount”). At June 30, 2020, the restricted cash did not exceed the MLR and the APOD Capex Amount. Pursuant to the Term Loan Credit Agreement to which Elysium Energy, LLC and its subsidiaries are parties, the companies receipts are to be deposited to a lockbox account under the control of the administrative agent, and then subsequently transferred for operations to the company’s bank accounts, all of which are subject to deposit account control agreements. Commencing with the quarter ended September 30, 2020, the company is required to make mandatory prepayments of principal equal to 75% of Excess Cash Flow as defined in the agreement. f) Accounts receivable Accounts receivable consist of oil and gas receivables. The Company evaluates these accounts receivable for collectability and, when necessary, records allowances for expected unrecoverable amounts. The Company has recorded an allowance for doubtful accounts of $217,057 at June 30, 2020 and December 31, 2019 respectively. g) Oil and Gas Properties The Company uses the full cost method of accounting for its investment in oil and natural gas properties. Under this method of accounting, all costs associated with acquisition, exploration and development of oil and gas reserves, including directly related overhead costs, are capitalized. General and administrative costs related to production and general overhead are expensed as incurred. All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit of production method using estimates of proved reserves. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in operations. Unproved properties and major development projects are not amortized until proved reserves associated with the projects can be determined or until impairment occurs. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is included in loss from operations before income taxes and the adjusted carrying amount of the unproved properties is amortized on the unit-of-production method. h) Limitation on Capitalized Costs Under the full-cost method of accounting, we are required, at the end of each reporting date, to perform a test to determine the limit on the book value of our oil and natural gas properties (the “Ceiling” test). If the capitalized costs of our oil and natural gas properties, net of accumulated amortization and related deferred income taxes, exceed the Ceiling, this excess or impairment is charged to expense. The expense may not be reversed in future periods, even though higher oil and natural gas prices may subsequently increase the Ceiling. The Ceiling is defined as the sum of: (a) the present value, discounted at 10 percent, and assuming continuation of existing economic conditions, of 1) estimated future gross revenues from proved reserves, which is computed using oil and natural gas prices determined as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month hedging arrangements pursuant to SAB 103, less 2) estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves, plus (b) the cost of properties not being amortized; plus (c) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, net of (d) the related tax effects related to the difference between the book and tax basis of our oil and natural gas properties. i) Oil and Gas Reserves Reserve engineering is a subjective process that is dependent upon the quality of available data and the interpretation thereof, including evaluations and extrapolations of well flow rates and reservoir pressure. Estimates by different engineers often vary sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date of an estimate, as well as economic factors such as changes in product prices, may justify revision of such estimates. Because proved reserves are required to be estimated using recent prices of the evaluation, estimated reserve quantities can be significantly impacted by changes in product prices. j) Income (loss) per Share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding and adjusted by any effects of warrants and options outstanding during the period, if dilutive.For the three and six months ended June 30, 2020 there were approximately 125,890,784 common stock equivalents that were omitted from the calculation of diluted income per share as they were not dilutive k) Revenue Recognition Sales of crude oil, natural gas, and natural gas liquids (NGLs) are included in revenue when production is sold to a customer in fulfillment of performance obligations under the terms of agreed contracts. Performance obligations primarily comprise delivery of oil, gas, or NGLs at a delivery point, as negotiated within each contract. Each barrel of oil, million BTU (MMBtu) of natural gas, or other unit of measure is separately identifiable and represents a distinct performance obligation to which the transaction price is allocated. Performance obligations are satisfied at a point in time once control of the product has been transferred to the customer. The Company considers a variety of facts and circumstances in assessing the point of control transfer, including but not limited to: whether the purchaser can direct the use of the hydrocarbons, the transfer of significant risks and rewards, the Company’s right to payment, and transfer of legal title. In each case, the time between delivery and when payments are due is not significant. The following table disaggregates the Company’s revenue by source for the three and six months ended June 30, 2020 and 2019: Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Oil $ 7,539,991 $ 7,194,400 $ 17,065,755 $ 14,926,562 Natural gas and natural gas liquids 2,009,872 1,539,923 4,272,060 3,154,353 $ 9,549,863 $ 8,734,323 $ 21,337,815 $ 18,080,915 l) Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the consolidated financial statements and the tax basis of assets and liabilities by using estimated tax rates for the year in which the differences are expected to reverse. The Company recognizes deferred tax assets and liabilities to the extent that we believe that these assets and/or liabilities are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and results of recent operations. If we determine that the Company would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. In assessing the realizability of its deferred tax assets, management evaluated whether it is more likely than not that some portion, or all of its deferred tax assets, will be realized. The realization of its deferred tax assets relates directly to the Company’s ability to generate taxable income. The valuation allowance is then adjusted accordingly. The Company has estimated net operating loss carryforwards in excess of $20,000,000 at June 30, 2020. The potential benefit of these net operating losses has not been recognized in these financial statements because the Company cannot be assured it is more likely than not that it will utilize the net operating losses carried forward in future years. In December 2017, tax legislation was enacted limiting the deduction for net operating losses from taxable years beginning after December 31, 2017 to 80% of current year taxable income and eliminating net operating loss carrybacks for losses arising in taxable years ending after December 31, 2017.On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act was enacted which modified the prior legislation to allow 100% of the net operating losses arising in tax years 2018, 2019, and 2020 to be carried back five years. The Company does not have taxable income available in the carryback period. Net operating losses originating in taxable years beginning prior to January 1, 2018 are still subject to former carryover rules. The net operating loss carryforwards generated prior to this date of approximately $11,000,000, will expire between 2020 through 2038. m) Stock-Based Compensation The Company may issue stock options to employees and stock options or warrants to non-employees in non-capital raising transactions for services and for financing costs.The cost of stock options and warrants issued to employees and non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. The fair value of stock options and warrants is determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield. The expected term represents the period of time that stock-based compensation awards granted are expected to be outstanding and is estimated based on considerations including the vesting period, contractual term and anticipated employee exercise patterns. Expected volatility is based on the historical volatility of the Company’s stock. The risk-free rate is based on the U.S. Treasury yield curve in relation to the contractual life of stock-based compensation instrument. The dividend yield assumption is based on historical patterns and future expectations for the Company dividends. The following table represents stock warrant activity as of and for the six months ended June 30, 2020: Number Weighted Weighted Aggregate Warrants Outstanding – December 31, 2019 44,629,939 0.26 6.0 years - Granted - - - - Exercised 675,000 - - - Forfeited/expired/cancelled - - - Warrants Outstanding – June 30, 2020 43,954,939 $ 0.25 5.2 years $ - Outstanding Exercisable – June 30, 2020 43,954,939 $ 0.25 5.2 years $ - The Company issued 566,250 common shares from the exercise of 675,000 warrants during the six months ended June 30, 2020. n) Impairment of long-lived assets The Company is required to review its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally determined by using the asset's expected future discounted cash flows or market value. The Company estimates fair value of the assets based on certain assumptions such as budgets, internal projections, and other available information as considered necessary. There is no impairment of long-lived assets during the three and six months ended June 30, 2020 and 2019. o) Accounting for Asset Retirement Obligations Asset retirement obligations (“ARO”) primarily represent the estimated present value of the amount the Company will incur to plug, abandon and remediate its producing properties at the projected end of their productive lives, in accordance with applicable federal, state and local laws. The Company determined its ARO by calculating the present value of estimated cash flows related to the obligation. The retirement obligation is recorded as a liability at its estimated present value as of the obligation’s inception, with an offsetting increase to proved properties. The following table describes the changes in the Company’s asset retirement obligations for the three and six months ended June 30, 2020: Six months ended June 30, 2020 Asset retirement obligation – beginning $ 3,538,637 Oil and gas purchases 1,514,328 Accretion expense 241,278 Asset retirement obligation – ending $ 5,294,243 p) Undistributed Revenues and Royalties The Company records a liability for cash collected from oil and gas sales that have not been distributed. The amounts get distributed in accordance with the working interests of the respective owners. q) Subsequent events The Company has evaluated all subsequent events from June 30, 2020 through the date of filing this report.

Business Acquisition

Business Acquisition	6 Months Ended
	Jun. 30, 2020
Business Acquisition
Note 3. Business Acquisition	As discussed in Note 1, on February 3, 2020, the Company, through its subsidiary Elysium Energy, LLC (“Elysium Energy”) completed an acquisition of working interests in certain oil and gas leases in Texas and Louisiana.The aggregate consideration transferred for the working interests of $29,496,356 substantially consisted of (i) the net proceeds from the Company’s borrowings on February 3, 2020 with various lenders represented by 405 Woodbine, LLC and Camber Energy, Inc, less (ii) the net effect of the resolution of February 3, 2020 on all amounts outstanding under the Company’s December 2018 promissory note with RPM Investments in exchange for a new note with EMC Capital Partners, LLC (including the pay-down of such new note as a result of the post-closing adjustments). See Note 7 to the consolidated financial statements for further information on all of these borrowings. The aggregate consideration has been provisionally allocated to the fair value of assets and liabilities as follows: Provisional Fair Value of Assets and Liabilities Oil and Gas Properties $ 31,010,684 Asset retirement obligations assumed (1,514,328 ) $ 29,496,356 Proforma unaudited condensed selected financial data for the three and six months ended June 30, 2019 as though the Elysium Energy Acquisition had taken place at January 1, 2019 are as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Revenues $ 15,613,974 $ 28,200,088 Net loss $ 3,742,608 $ (8,865,491 ) Net loss per share $ 0.04 $ (0.10 )

Oil and Gas Properties

Oil and Gas Properties	6 Months Ended
	Jun. 30, 2020
Oil and Gas Properties
Note 4. Oil and Gas Properties	The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the six months ended June 30, 2020: December 31, 2019 Adjustments Impairments June 30, 2020 Proved developed producing oil and gas properties United States cost center $ 76,532,985 $ 22,826,768 $ - $ 99,359,753 Accumulated depreciation, depletion and amortization (7,608,544 ) (3,933,181 ) - (11,541,725 ) Proved developed producing oil and gas properties, net $ 68,924,441 $ 18,893,587 $ - $ 87,818,028 Undeveloped and non-producing oil and gas properties United States cost center $ 56,168,428 $ 9,362,913 $ - $ 65,531,341 Accumulated depreciation, depletion and amortization (5,350,753 ) (2,133,250 ) - (7,484,003 ) Undeveloped and non-producing oil and gas properties, net $ 50,817,675 $ 7,229,663 $ - $ 58,047,338 Total Oil and Gas Properties, Net $ 119,742,116 $ 26,123,250 $ - $ 145,865,366

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions
Note 5. Related Party Transactions	The Company’s CEO and director, James Doris has incurred expenses on behalf of, and made advances to, the Company in order to provide the Company with funds to carry on its operations. Additionally, Mr. Doris has made several loans through promissory notes to the Company, all accruing interest at 12%, and payable on demand. As of June 30, 2020, the total amount due to Mr. Doris for these loans is $590,555. Accrued interest of $37,841 is included in accrued expenses and other current liabilities at June 30, 2020, The Company’s CFO, Frank W. Barker, Jr., renders professional services to the Company through FWB Consulting, Inc., an affiliate of Mr. Barker’s. As of June 30, 2020, the total amount due to FWB Consulting, Inc. is $174,468 and is included in accounts payable. As of June 30, 2020, Troy Caruso and various entities affiliated with Mr. Caruso owned in aggregate more than 10% of the Company’s outstanding common stock.Mr. Caruso and his affiliates have provided funding under certain of the Company’s private placements, and consulting services. During the three months ended June 30, 2020, the Company repaid all short-term borrowings due to Mr. Caruso and certain of his affiliated entities which were advanced between September 30, 2019 and February 7, 2020, which included the issuance of 17,954,565 common shares at a fair value of $2,748,504. As of June 30, 2020, Mr. Caruso and affiliated entities hold $550,000 of the Company’s convertible debt offering which commenced on February 18, 2020 and is included in long term debt.

Equity

Equity	6 Months Ended
	Jun. 30, 2020
Equity
Note 6. Equity	(a) Preferred Stock The Company is authorized to issue 5,000,000 shares of Preferred Stock, par value $0.001 per share (the “Preferred Stock”), of which 50,000 have been designated as Series C Preferred Stock (the “Series C Preferred Stock”). Pursuant to the amended Certification of Designation of the Series C Preferred Stock filed on June 17, 2020, each share of Series C Preferred Stock entitles the holder thereof to 37,500 votes on all matters submitted to the vote of the stockholders of the Company. Each share of Series C Preferred Stock is convertible, at the option of the holder, at any time after the date of issuance of such share, at the office of the Company or any transfer agent for such stock, into one share of fully paid and non-assessable common stock. (b) Common Stock On November 5, 2018, the Company amended its Articles of Incorporation to increase the number of shares of common stock the Company is authorized to issue from 100,000,000 to 500,000,000. During the six months ended June 30, 2020, the Company issued shares of its common stock as follows: · 3,235,255 shares of common stock issued for services valued at fair value on the date of the transactions, totaling $451,382. · 566,250 shares of common stock pursuant to the exercise of 675,000 warrants. · 5,921,018 shares of common stock issued as discount on debt valued at fair value on the date of the transaction totaling $718,860. · 26,151,286 shares of common stock issued in settlement of debt and short term borrowings, valued at fair value on the date of the transaction totaling $4,110,250, and resulting in a loss on financing settlements of $931,894. During the six months ended June 30, 2019, the Company issued shares of its common stock as follows: · 210,929 shares of common stock issued for services valued at fair value on the date of the transaction totaling $42,082. (c) Noncontrolling Interest As described in Note 7 to the consolidated financial statements, on February 3, 2020 and June 26, 2020, Viking borrowed $5.0 million and $4.2 million respectively from Camber Energy, Inc.As additional consideration for each loan, Viking assigned Camber 25% and 5% (respectively) of the membership interests in Elysium Holdings, LLC. At the time of assignments, the fair value of each such interest was zero. The following schedule discloses the effects of changes in the Company’s ownership interest in its subsidiaries on the Company’s equity for the six months ended June 30, 2020: Noncontrolling interest - December 31, 2019 $ - Transfers to the noncontrolling interest Recognition of noncontrolling interest at fair value - Net loss attributable to noncontrolling interest 154,639 Change from net income attributable to Viking Energy Group, Inc. and transfers to from noncontrolling interest $ 154,639

Long Term Debt and Other Short-

Long Term Debt and Other Short-term Borrowings	6 Months Ended
	Jun. 30, 2020
Long Term Debt and Other Short-term Borrowings
Note 7. Long Term Debt and other short-term borrowings	Long term debt and other short-term borrowings consisted of the following at June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 Long-term debt: During June through December of 2018, the Company borrowed $9,459,750 from private lenders, and exchanged $5,514,000 of amounts due lenders from prior borrowings as well as $191,250 in accrued interest, pursuant to a 10% Secured Promissory Note with 50% of the principal convertible into the Company’s common stock at $0.20 per share, all principal and accrued interest payable on the maturity date of August 31, 2020 (“the 2018 Convertible Notes”). The notes are secured by the Company’s membership interests in its subsidiaries, Petrodome Energy, LLC, Mid-Con Petroleum, LLC, Mid-Con Drilling, LLC, and Mid-Con Development, LLC. The balance shown is net of unamortized discount of $530,051 at June 30, 2020 and $2,086,008 at December 31, 2019. A majority of these lenders are also Viking shareholders. 10,544,164 11,163,357 On June 13, 2018, the Company borrowed $12,400,000 pursuant to a revolving line of credit facility with a maximum principal amount of $30,000,000 from Crossfirst Bank, bearing interest 1.5% above a base rate equal to the prime rate of interest published by the Wall Street Journal, interest only for June and July of 2018, at which time Principal is payable at $100,000 monthly through the maturity date of May 10, 2021, at which time all remaining unpaid principal and accrued interest shall be due. The loan is secured by a mortgage on all of the oil and gas leases of Petrodome Energy, LLC and its subsidiaries, a security agreement covering all of Petrodome Energy, LLC’s assets and a guaranty by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $0 at June 30, 2020 and $34,411 at December 31, 2019 7,090,000 7,655,589 On December 28, 2018, to facilitate the acquisition of certain oil and gas assets, the Company, through its subsidiary, Ichor Energy LLC, entered into a Term Loan Credit Agreement with various lenders represented by ABC Funding, LLC as administrative agent. The agreement provided for a total loan amount of $63,592,000, bearing interest at a rate per annum equal to the greater of (i) a floating rate of interest equal to 10% plus LIBOR, and (ii) a fixed rate of interest equal to 12%, payable monthly on the last day of each calendar month, commencing January 31, 2019. Principal payments are made quarterly at 1.25% of the initial loan amount, commencing on the last business day of the fiscal quarter ending June 30, 2019. On June 3, 2020, the Term Loan Credit Agreement was amended to reduce the permitted Asset Coverage Ratio for the fiscal quarters ending March 31, 2020, June 30, 2020 and September 30, 2020 from 1.35:1.00 to 1.15:1.00.Additionally, the First Amendment revises the interest rate under the Term Loan for the period from May 16, 2020 a per annum interest rate (i) if, as of the last day of the immediately preceding fiscal quarter, the Asset Coverage Ratio is less than 1.50:1.00, then the interest rate is the greater of (x) a floating rate of interest equal to 11.00% plus LIBOR, and (y) a fixed rate of interest equal to 13.00%, or (ii) if, as of the last day of the immediately preceding fiscal quarter, the Asset Coverage Ratio is greater than or equal to 1.50:1.00, then the interest rate is the greater of (x) a floating rate of interest equal to 10.50% plus LIBOR and (y) a fixed rate of interest equal to 12.50%.Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the Term Loan, approximately $12,000,000 of oil and gas development projects approved by the lender, and distributions to the Company of $65,000 per month for general and administrative expenses, and a quarterly tax distribution at the current statutory rates. Within 30 days of the end of each quarter, commencing with the quarter ended June 30, 2019, Ichor Energy, LLC is required to pay, as an additional principal payment on the debt, any cash in excess of the MLR and the APOD Capex Amount. To the extent not previously paid, all loans under the Loan Agreement shall be due and payable on the December 28, 2023 (the Maturity Date). The loan agreement contains prepayment penalties through December 28, 2021 and “make-whole” obligations through December 28, 2020. In addition, at maturity (or sooner under certain circumstances which include prepayment of the loan or sale of Ichor Energy, LLC) the lenders will receive a payment approximating 7% of the fair value of Ichor Energy, LLC at that time; such amount is not estimable. Obligations under the loan agreement are secured by mortgages on the oil and gas leases of Ichor Energy, LLC and all of its subsidiaries, a security agreement covering all assets of Ichor Energy, LLC, and a pledge by Ichor Holdings of all if the membership interests in Ichor Energy LLC. The balance shown is net of unamortized discount of $3,069,544 at June 30, 2020 and $3,507,364 at December 31, 2019. 52,547,961 53,699,940 On December 28, 2018, the Company issued a 10% secured promissory note in the amount of $23,777,948, payable to RPM Investments, secured by 100% of the membership interests of Ichor Energy Holdings, LLC. All accrued interest and unpaid principal were due on the earlier of (i) the date the Company or one of its affiliates completes an acquisition with one or more of the sellers for a purchase price equal to or greater than $50,000,000 or (ii) January 31, 2020. This note was secured by a pledge of all of the membership interests of Viking’s wholly-owned subsidiary, Ichor Energy Holdings, LLC. On February 3, 2020 in connection with an acquisition of oil and gas interests this note (including all unpaid accrued interest of $2,625,346) was settled and replaced with a new note. - 23,777,948 On February14, 2019, the Company executed a promissory note payable to CrossFirst Bank in the amount of $56,760 for the purchase of transportation equipment, bearing interest at 7.15%, payable in 60 installments of $1,130, secured by a vehicle, with a maturity date of February 14, 2024. 43,567 48,658 On July 24, 2019, the Company through its wholly owned subsidiary, Mid-Con Petroleum, LLC, executed a promissory note payable to Cornerstone Bank in the amount of $2,241,758, bearing interest at 6%, payable interest only for the first year, then payable in 59 installments of $43,438, with a final payment due on a maturity date of July 24, 2025.The note is secured by a first mortgage on all of the assets of Mid-Con Petroleum, LLC and a guarantee of payment by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $24,161 at June 30, 2020 and $26,538 at December 31, 2019. 2,217,598 2,215,221 On July 24, 2019, the Company through its wholly owned subsidiary, Mid-Con Drilling, LLC, executed a promissory note payable to Cornerstone Bank in the amount of $1,109,341, bearing interest at 6%, payable interest only for the first year, then payable in 59 installments of $21,495, with a final payment due on a maturity date of July 24, 2025. The note is secured by a first mortgage on all of the assets of Mid-Con Drilling, LLC and a guarantee of payment by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $24,093 at June 30, 2020 and $26,464 at December 31, 2019. 1,034,585 1,032,215 On February 3, 2020, the Company executed a promissory note payable to Camber Energy, Inc. in the amount of $5,000,000, bearing interest at 10.5% payable quarterly with a maturity date of February 3, 2022.On June 26, 2020, the Company executed a second promissory note payable to Camber Energy, Inc. in the amount of $4,200,000, also bearing interest at 10.5% payable quarterly with a maturity date of February 3, 2022. Both of these notes are generally convertible into common shares of Viking at a conversion price of $0.24 per share subject to certain restrictions. The terms of the notes provide Camber with a security interest (subject to certain prerequisites) in Viking’s 70% ownership of Elysium Holdings, LLC and 100% of Ichor Energy Holdings, LLC. Additionally, Viking provided Camber a junior security interest in the membership or common stock of ownership interests of all of Viking’s other existing and future, directly-owned or majority-owned subsidiaries. 9,200,000 - On February 3, 2020, in connection with an acquisition of oil and gas interests, the Company executed a secured promissory note in the amount of $20,869,218, payable to EMC Capital Partners, LLC, subject to revision to the extent of any post-closing adjustment payments in connection with the acquisition. Such payments were to be applied to reduce the balance owing under the promissory note. During April 2020 the Company received post-closing adjustment payments in the amount of $5,277,589 which were applied to the note balance. This note replaced the secured promissory dated December 18, 2018 in favor of RPM Investments. This note bears interest at 10% and is payable along with the full amount of principal on June 11, 2021 and is secured by a pledge of all of the membership interests of Viking’s wholly-owned subsidiary, Ichor Energy Holdings, LLC. If the note is paid in full on or before the 150 th 15,591,629 - On February 3, 2020, to facilitate the acquisition of certain oil and gas assets, the Company, through one of its subsidiaries, Elysium Energy LLC, entered into a Term Loan Credit Agreement with various lenders represented by 405 Woodbine, LLC as administrative agent. The agreement provides for a total loan amount of $35,000,000 at a 4.0% original issue discount. bearing interest at the prime rate plus seven and three quarters percent (7.75%) payable monthly.Principal payments are due beginning on May 1, 2020, and on each month thereafter at one percent (1%) of the then-outstanding balance, and to the extent not paid on the maturity date of August 3, 2022. Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the Term Loan, oil and gas development projects approved by the lender, and a cost allocation of $150,000 per month for general and administrative expenses of the Company. The Borrower shall have the right at any time to prepay all or a portion of the Loan Balance. The loan agreement contains a prepayment penalty of 5% of any voluntary prepayment of principal through February 3, 2021 and 3% of any voluntary prepayment of principal on or between February 3, 2021 and February 3, 2022. Commencing with the quarter ended September 30, 2020 the Borrower is required to make mandatory prepayments of principal equal to 75% of Excess Cash Flow as defined in the agreement without any prepayment penalty fees.The loans are secured by mortgages on the oil and gas leases of Elysium Energy LLC and its subsidiaries, a security agreement covering all assets of Elysium and its subsidiaries, and a pledge of all of Elysium’s membership interests. The balance shown is net of unamortized discount of $3,645,437 at June 30, 2020. 31,730,047 - On or about February 18, 2020, the Company commenced an offering of securities consisting of a subordinated, secured, convertible debt instrument with equity features; during the six months ended June 30, 2020, the Company borrowed $2,780,554 under this offering from private lenders.The notes bear interest at 12%, payable quarterly, contain a conversion entitlement to convert all or a portion of the amount outstanding into common shares of the Company at $0.175 per share, and provide for the issuance of 150,000 common shares of the Company for every $100,000 exchanged or advanced. As security, the holders received, pari passu with all other holders, a pledge of the Company’s membership interest in Elysium Energy Holdings, LLC, and, as soon as the Company’s obligations to EMC Capital Partners, LLC are satisfied, a pledge of the Company’s membership interest in Ichor Energy Holdings, LLC. Any unpaid principal and interest is due on the maturity date of February 11, 2022. The balance shown is net of unamortized discount of $460,898. 2,319,656 - On April 18, 2020, the Company entered into an unsecured promissory note with Crossfirst Bank in the principal amount of $149,600 related to the CARES Act Payroll Protection Program. This note is fully guaranteed by the Small Business Administration and may be forgivable provided that certain criteria are met. The interest rate on the loan is 1%, and the note has a two-year maturity. The Company is required to make payments on the remaining principal of the note net of any loan forgiveness beginning November 18, 2020. 149,600 - 132,468,807 99,592,928 Other short-term borrowings – with related parties: On September 30, 2019, the Company received $910,000 under an agreement that requires the Company to make 28 weekly payments aggregating $1,237,600 through April 13, 2020. On December 23, 2019, the Company received an additional $242,750 under a replacement agreement that requires the Company to make 25 weekly payments aggregating $1,620,000 through June 15, 2020. The balance shown is net of the maximum discount of $413,445 at December 31, 2019. - 1,141,755 On October 3, 2019, the Company received $480,200 under an agreement that requires the Company to make 28 weekly payments aggregating $666,400 through April 20, 2020. The balance shown is net of the maximum discount of $132,289 at December 31, 2019. - 423,111 On December 23, 2019, the Company received $2,939,970 under an agreement that requires the Company to make 25 weekly payments aggregating $4,050,000 through June 15, 2020.The balance shown is net of the maximum discount of $1,110,030 at December 31, 2019. - 2,855,368 On February 7, 2020, the Company received $900,000 from a company. The advance is non-interest bearing and payable on demand. - - Other short-term borrowings: On November 26, 2019, the Company received $200,000 from an individual. The advance was non-interest bearing and payable on demand - 200,000 During May and June 2020, the Company received $350,000 from short-term unsecured promissory notes payable in six months from date of issue. The notes bear interest at 13.25% payable monthly and provide for the issuance of 500,000 common shares of the Company for every $100,000 invested. The balance shown is net of unamortized discount of $174,949. 175,051 - On June 3, 2020, the Company received $25,000 from an individual. 25,000 Total long-term debt and other short-term borrowings 132,668,858 104,213,162 Less current portion (63,059,086 ) (19,225,045 ) $ 69,609,772 $ 84,988,117 As described in Note 9, subsequent to June 30, 2020, holders of approximately $4.6 million of the Company’s 2018 Convertible Notes either (i) exchanged their notes for new convertible notes that were then converted into shares of the Company’s common stock or (ii) exchanged their notes for new convertible notes with a maturity date of February 2022.As a result, this $4.6 million of debt which was otherwise due in August 2020 has been classified as long term at June 30, 2020. Principal maturities of long-term debt for the next five years and thereafter are as follows: Twelve-month period ended June 30, Principal Unamortized Discount Net 2021 $ 68,529,121 $ 5,470,035 $ 63,059,086 2022 20,125,000 1,117,414 19,007,586 2023 3,591,444 888,057 2,703,387 2024 47,610,812 443,490 47,167,322 2025 705,253 10,138 695,115 Thereafter 36,362 - 36,362 $ 140,597,992 $ 7,929,134 $ 132,668,858 Loan Covenants Pursuant to the terms of the Revolving Line of Credit Facility executed on June 13, 2018 with CrossFirst Bank for a maximum principal amount of $30,000,000, the Company is required to provide on a quarterly basis, certain information to the Bank relative to operational performance of the Borrowers, to include internally prepared consolidated financial statements, hedge reports, and a compliance certificate. At June 30, 2020, the Company is in compliance with these loan covenants. Pursuant to the terms of the Term Loan Credit Agreement executed on December 28, 2018 with various lenders in the initial amount of $63,592,000 (and as amended in June 2020), the Company is required to provide, periodically to the lenders, certain information (including restrictive financial ratios) relative to financial and operational performance of the related assets, accompanied by a compliance certificate. At June 30, 2020, the Company is in compliance with these loan covenants. Pursuant to the terms of the Term Loan Credit Agreement executed on February 3, 2020 with various lenders in the initial amount of $36,458,333, the Company is required to provide, periodically to the lenders, certain information (including regarding restrictive financial ratios) relative to financial and operational performance of the related assets, accompanied by a compliance certificate. The Company was in compliance with all loan covenants except certain required financial ratios at June 30, 2020; the Company has obtained a waiver from the lenders for such noncompliance at June 30, 2020. As a result, the Company has classified the debt related to this covenant violation as current as the Company has not been able to determine its ability to comply in the future.

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and contingencies
Note 8. Commitments and contingencies	Office lease In April 2018, the Company’s subsidiary, Petrodome Energy, LLC entered into a 66-month lease for 4,147 square feet of office space for the Company’s corporate office in Houston, Texas. The annual base rent commenced at $22.00 per square foot, and escalates at $0.50 per foot each year through expiration of the lease term. Operating lease expense is recognized on a straight-line basis over the lease term. Operating lease expense was $48,192 for the six months ended June 30, 2020 and 2019. Pending Merger On February 3, 2020, the Company entered into an Agreement and Plan of Merger with Camber Energy, Inc.The Merger Agreement provides that a newly-formed wholly-owned subsidiary of Camber will merge with and into Viking, with Viking surviving the merger as a wholly-owned subsidiary of Camber. The proposed merger contemplates Camber issuing newly-issued shares of common stock, with the equity holders of Viking having an 80% interest in the post-closing entity. The merger, if completed, will provide the opportunity for our common stock to be listed on the NYSE American. The Merger Agreement provides, among other things, that the board of directors of the combined company will be comprised of five directors, one to be appointed by Camber and four to be appointed by Viking. The Merger Agreement also provides that James A. Doris, the Chief Executive Officer of Viking, shall serve as the Chief Executive Officer of the combined company. The combined company will have its headquarters in Houston, Texas. The completion of the Merger is subject to numerous conditions including (i) the effectiveness of a registration statement registering the shares of Camber common stock to be issued to Viking’s shareholders in the merger and (ii) shareholder approval of the merger transactions by Camber’s shareholders and Viking’s shareholders. Additional closing conditions include (i) that in the event the NYSE American determines that the merger constitutes, or will constitute, a “back-door listing”/”reverse merger”, Camber (and its common stock) is required to qualify for initial listing on the NYSE American, and (ii) that the only loan obligations with a maturity date in 2020 that Viking shall have at closing shall be the 2018 Convertible Notes. The Merger can be terminated under various conditions or circumstances. The Merger Agreement contains customary indemnification obligations of the parties and representations and warranties. Upon consummation of the merger, Viking will be deemed the acquirer for accounting purposes. Legal matters From time to time the Company may be a party to litigation involving commercial claims against the Company. Management believes that the ultimate resolution of these matters will not have a material effect on the Company’s financial position or results of operations. The staff (the “Staff”) of the SEC’s Division of Enforcement has notified the Company, that the Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company, as well as against its CEO and it CFO, for alleged violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder during the period from early 2014 through late 2016. The Staff’s notice is not a formal allegation or a finding of wrongdoing by the Company, and the Company is in dialogue with the Staff regarding its preliminary determination. The Company believes it has adequate defenses and intends to vigorously defend any enforcement action that may be initiated by the SEC.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events
Note 9. Subsequent events	In early July 2020, the Company issued a Promissory Note to Radium 2 Capital, Inc. (“Radium” a related party through affiliation with Troy Caruso), in connection with $1,350,000 advanced by Radium to the Company. The Promissory Note permitted Radium to convert all or a portion of the amount owing into common shares of the Company at a conversion price of $0.122 per share. Subsequently in July 2020, Radium elected to convert the entire principal amount and the Company issued Radium 11,065,574 common shares in the conversion. Additionally, in early July 2020, the Company issued an investor a convertible promissory note in the principal amount of $500,000 and 1,600,000 shares of the Company’s common stock. The note matures on the earlier of (i) 180 days after the date of the note, or (ii) the completion of the Company’s up-listing to a national stock exchange, whether via merger or otherwise, if repayment of the note is required by a third party; the note accrues interest at 12% per annum, with interest due at maturity; and the note is convertible into shares of the Company’s common stock at a fixed conversion price of $0.15, subject to a 4.99% waivable beneficial ownership limitation. From July 1, 2020 to August 14, 2020, the Company had the following activity regarding the 2018 Convertible Notes: · Noteholders representing $2,197,745 of such principal amount, (and approximately $38,400 of accrued interest) exchanged into new convertible promissory notes with a maturity date of February 11, 2022. Pursuant to the terms of the issuance agreements, the noteholders were also issued 3,354,218 common shares of the Company in connection with the issuance of the new notes. Immediately thereafter, the noteholders converted the entire principal amount due under the notes into common shares of the Company at $0.15 per share pursuant to the terms of the new convertible notes, and were issued 14,907,633 common shares of the Company in the conversions. · · Noteholders representing $6,301,020 of such principal amount agreed to extend the maturity date of their convertible promissory notes from August 31, 2020 to December 31, 2020. In a series of separate transactions subsequent to June 30, 2020, the Company issued, in the aggregate, 15,154,811 shares of common stock in exchange for services rendered by several parties. In a series of separate transactions subsequent to June 30, 2010, the Company issued in the aggregate 610,972 shares of common stock to various noteholders as payment for interest. On or about July 7, 2020, an individual holder of a $25,000 promissory note exchanged into a new convertible promissory note with a maturity date of February 11, 2022, and was also issued 37,500 common shares of the Company in connection with the issuance of the new note. Immediately thereafter, the noteholder converted the entire principal amount into common shares of the Company at $0.15 per share and was issued 166,667 common shares of the Company in the conversion. On or about July 31, 2020, the Company issued 7,125 shares of common stock pursuant to a cashless exercise of warrants. On or about July 31, 2020, the Company issued for services common stock warrants to purchase 2,500,000 shares of common stock at a price equal to $0.001 per share. The warrants have a five-year term and include a cashless exercise feature. As discussed in Note 7, the February 3, 2020 loan agreement with various lenders in the initial amount of $36,458,333 required the Elysium subsidiaries to maintain certain financial ratios regarding collateral coverage and maximum leverage, and on August 19, 2020, the lenders waived any defaults at June 30, 2020, relating to those financial ratios in consideration of the Elysium subsidiaries agreeing to pay the lenders $87,000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Basis of Presentation	The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the interim reporting rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto contained in Viking’s latest Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments (unless otherwise indicated), necessary for a fair presentation of the financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.
Basis of Consolidation	The financial statements presented herein reflect the consolidated financial results of the Company, its wholly owned subsidiaries, Mid-Con Petroleum, LLC, Mid-Con Drilling, LLC, and Mid-Con Development, LLC, which were all formed to provide a base of operations for properties in the Central United States, and Petrodome Energy, LLC, Ichor Holdings, LLC, Ichor Energy, LLC, Ichor Energy (TX), LLC, and Ichor Energy (LA), LLC., and its majority owned (75%) subsidiary, Elysium Energy Holdings, LLC, and its wholly owned subsidiaries, Elysium Energy, LLC, Elysium Energy TX, LLC, Elysium Energy LA, LLC, Pointe A La Hache, L.L.C., Potash, L.L.C., Ramos Field, L.L.C., and Turtle Bayou, L.L.C., all based in Houston, Texas which provides a base of operations to facilitate property acquisitions in Texas, Louisiana and Mississippi. The noncontrolling interest (30%) of Elysium Energy Holdings, LLC and its subsidiaries is separately stated in stockholders’ equity in the consolidated balance sheet and the net income attributable to the noncontrolling interest is stated separately in the consolidated statement of operations. All significant intercompany transactions and balances have been eliminated.
Use of Estimates in the Preparation of Financial Statements	The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and timing of revenues and expenses, the reported amounts and classification of assets and liabilities, and disclosure of contingent assets and liabilities. Significant areas requiring the use of management estimates relate to impairment of long-lived assets, fair value of commodity derivatives, stock-based compensation, asset retirement obligations, and the determination of expected tax rates for future income tax recoveries. The estimates of proved, probable and possible oil and gas reserves are used as significant inputs in determining the depletion of oil and gas properties and the impairment of proved and unproved oil and gas properties. There are numerous uncertainties inherent in the estimation of quantities of proved, probable and possible reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and unproved oil and gas properties are subject to numerous uncertainties including, among others, estimates of future recoverable reserves and commodity price outlooks. Actual results could differ from the estimates and assumptions utilized.
Financial Instruments	Accounting Standards Codification, “ASC” Topic 820-10, “Fair Value Measurement” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 820-10, defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measurement. The carrying amounts reported in the consolidated balance sheets for deposits, accrued expenses and other current liabilities, accounts payable, derivative liabilities, amount due to director, and convertible notes each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows: • Level 1: inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3: inputs to the valuation methodology are unobservable and significant to the fair value measurement. Assets and liabilities measured at fair value as of June 30, 2020 are classified below based on the three fair value hierarchy described above: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets Commodity Derivative - 8,426,610 - 13,587,431 $ - $ 8,426,610 $ - $ 13,587,431 Financial liabilities - - - - Commodity Derivative $ - $ - $ - $ - Assets and liabilities measured at fair value as of December 31, 2019 are classified below based on the three fair value hierarchy described above: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets - - - - Commodity Derivative $ - $ - $ - $ - Financial liabilities Commodity Derivative - 5,158,822 - (3,308,880 ) $ - $ 5,158,822 $ - $ (3,308,880 ) The Company has entered into certain commodity derivative instruments containing swaps and collars, which management believes are effective in mitigating commodity price risk associated with a portion of its future monthly natural gas and crude oil production and related cash flows. The Company does not designate its commodities derivative instruments as hedges and therefore does not apply hedge accounting. Changes in fair value of derivative instruments subsequent to the initial measurement are recorded as change in fair value on derivative liability, in other income (expense). The estimated fair value amounts of the Company’s commodity derivative instruments have been determined at discrete points in time based on relevant market information which resulted in the Company classifying such derivatives as Level 2. Although the Company’s commodity derivative instruments are valued using public indices, as well as the Black-Sholes model, the instruments themselves are traded with unrelated counterparties and are not openly traded on an exchange. In a commodities swap agreement, the Company trades the fluctuating market prices of oil or natural gas at specific delivery points over a specified period, for fixed prices. As a producer of oil and natural gas, the Company holds these commodity derivatives to protect the operating revenues and cash flows related to a portion of its future natural gas and crude oil sales from the risk of significant declines in commodity prices, which helps reduce exposure to price risk and improves the likelihood of funding its capital budget. If the price of a commodity rises above what the Company has agreed to receive in the swap agreement, the amount that it agreed to pay the counterparty is expected to be offset by the increased amount it received for its production. The Company has also entered into collar agreements related to oil and gas production with established floors and ceilings. Upon settlement, if the current market price of the commodity is below the floor, the Company receives the difference. Conversely, if the current market price of the commodity is above the ceiling at settlement, the Company pays the excess over the ceiling price. Although the Company is exposed to credit risk to the extent of nonperformance by the counterparties to these derivative contracts, the Company does not anticipate such nonperformance and monitors the credit worthiness of its counterparties on an ongoing basis. The derivative assets were $8,428,610 and $0 as of June 30, 2020 and December 31, 2019 respectively, and the derivative liabilities were $0 and $5,158,822 as of June 30, 2020 and December 31, 2019 and 2018 respectively. The change in the fair value of the derivative assets and liabilities for the six months ended June 30, 2020 consisted of an increase of $12,756,834 associated with commodity derivatives existing at the beginning of 2020 and an increase of $830,598 associated with the new commodity derivative related to Elysium’s acquisition on February 3, 2020. The table below is a summary of the Company’s commodity derivatives as of June 30, 2020: Natural Gas Period Average MMBTU per Month Fixed Price per MMBTU Swap Dec-18 to Dec-22 118,936 $2.715 Collar Mar 20 / Aug 22 196,078 $2.00 / $2.43 Crude Oil Period Average BBL per Month Price per BBL Swap Dec-18 to Dec- 22 24,600 $50.85 Swap Jan-20 to Jun-20 1,400 $52.71 Collar Dec-17 to Jun-20 4,000 $55.00 / $72.00 Collar Feb 20 to Dec 20 16,278 $45.00 / $54.20 Collar Jan 21 to Dec 21 10,135 $45.00 / $56.00 Collar Jan 22 to July 22 6,934 $45.00 / $52.70
Cash and Cash Equivalents	Cash and cash equivalents include cash in banks and highly liquid investment securities that have original maturities of three months or less. At June 30, 2020 and December 31, 2019, the Company has cash deposits in excess of FDIC insured limits in the amounts of $3,675,254 and $4,163,360 respectively. Restricted cash in the amount of $2,569,003 as of June 30, 2020 consists of $2,081,144 held by Ichor Energy, LLC and/or its subsidiaries and $487,859 held Elysium Energy, LLC and/or its subsidiaries. Pursuant to the Term Loan Credit Agreement to which Ichor Energy LLC and its subsidiaries are parties, following March 31, 2019 the company is required at all times to maintain a minimum cash balance of $2,000,000 (the “MLR”). Within 30 days of the end of each quarter, commencing with the quarter ended June 30, 2019, the company is required to pay the lenders, as an additional principal payment on the debt, any cash in excess of (i) the MLR and (ii) any funds necessary for the capital expenditures contemplated to be expended in the next six month period by an approved plan of development (“APOD Capex Amount”). At June 30, 2020, the restricted cash did not exceed the MLR and the APOD Capex Amount. Pursuant to the Term Loan Credit Agreement to which Elysium Energy, LLC and its subsidiaries are parties, the companies receipts are to be deposited to a lockbox account under the control of the administrative agent, and then subsequently transferred for operations to the company’s bank accounts, all of which are subject to deposit account control agreements. Commencing with the quarter ended September 30, 2020, the company is required to make mandatory prepayments of principal equal to 75% of Excess Cash Flow as defined in the agreement.
Accounts receivable	Accounts receivable consist of oil and gas receivables. The Company evaluates these accounts receivable for collectability and, when necessary, records allowances for expected unrecoverable amounts. The Company has recorded an allowance for doubtful accounts of $217,057 at June 30, 2020 and December 31, 2019 respectively.
Oil and Gas Properties	The Company uses the full cost method of accounting for its investment in oil and natural gas properties. Under this method of accounting, all costs associated with acquisition, exploration and development of oil and gas reserves, including directly related overhead costs, are capitalized. General and administrative costs related to production and general overhead are expensed as incurred. All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit of production method using estimates of proved reserves. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in operations. Unproved properties and major development projects are not amortized until proved reserves associated with the projects can be determined or until impairment occurs. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is included in loss from operations before income taxes and the adjusted carrying amount of the unproved properties is amortized on the unit-of-production method.
Limitation on Capitalized Costs	Under the full-cost method of accounting, we are required, at the end of each reporting date, to perform a test to determine the limit on the book value of our oil and natural gas properties (the “Ceiling” test). If the capitalized costs of our oil and natural gas properties, net of accumulated amortization and related deferred income taxes, exceed the Ceiling, this excess or impairment is charged to expense. The expense may not be reversed in future periods, even though higher oil and natural gas prices may subsequently increase the Ceiling. The Ceiling is defined as the sum of: (a) the present value, discounted at 10 percent, and assuming continuation of existing economic conditions, of 1) estimated future gross revenues from proved reserves, which is computed using oil and natural gas prices determined as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month hedging arrangements pursuant to SAB 103, less 2) estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves, plus (b) the cost of properties not being amortized; plus (c) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, net of (d) the related tax effects related to the difference between the book and tax basis of our oil and natural gas properties.
Oil and Gas Reserves	Reserve engineering is a subjective process that is dependent upon the quality of available data and the interpretation thereof, including evaluations and extrapolations of well flow rates and reservoir pressure. Estimates by different engineers often vary sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date of an estimate, as well as economic factors such as changes in product prices, may justify revision of such estimates. Because proved reserves are required to be estimated using recent prices of the evaluation, estimated reserve quantities can be significantly impacted by changes in product prices.
Income (loss) per Share	Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding and adjusted by any effects of warrants and options outstanding during the period, if dilutive.For the three and six months ended June 30, 2020 there were approximately 125,890,784 common stock equivalents that were omitted from the calculation of diluted income per share as they were not dilutive
Revenue Recognition	Sales of crude oil, natural gas, and natural gas liquids (NGLs) are included in revenue when production is sold to a customer in fulfillment of performance obligations under the terms of agreed contracts. Performance obligations primarily comprise delivery of oil, gas, or NGLs at a delivery point, as negotiated within each contract. Each barrel of oil, million BTU (MMBtu) of natural gas, or other unit of measure is separately identifiable and represents a distinct performance obligation to which the transaction price is allocated. Performance obligations are satisfied at a point in time once control of the product has been transferred to the customer. The Company considers a variety of facts and circumstances in assessing the point of control transfer, including but not limited to: whether the purchaser can direct the use of the hydrocarbons, the transfer of significant risks and rewards, the Company’s right to payment, and transfer of legal title. In each case, the time between delivery and when payments are due is not significant. The following table disaggregates the Company’s revenue by source for the three and six months ended June 30, 2020 and 2019: Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Oil $ 7,539,991 $ 7,194,400 $ 17,065,755 $ 14,926,562 Natural gas and natural gas liquids 2,009,872 1,539,923 4,272,060 3,154,353 $ 9,549,863 $ 8,734,323 $ 21,337,815 $ 18,080,915
Income Taxes	The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the consolidated financial statements and the tax basis of assets and liabilities by using estimated tax rates for the year in which the differences are expected to reverse. The Company recognizes deferred tax assets and liabilities to the extent that we believe that these assets and/or liabilities are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and results of recent operations. If we determine that the Company would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. In assessing the realizability of its deferred tax assets, management evaluated whether it is more likely than not that some portion, or all of its deferred tax assets, will be realized. The realization of its deferred tax assets relates directly to the Company’s ability to generate taxable income. The valuation allowance is then adjusted accordingly. The Company has estimated net operating loss carryforwards in excess of $20,000,000 at June 30, 2020. The potential benefit of these net operating losses has not been recognized in these financial statements because the Company cannot be assured it is more likely than not that it will utilize the net operating losses carried forward in future years. In December 2017, tax legislation was enacted limiting the deduction for net operating losses from taxable years beginning after December 31, 2017 to 80% of current year taxable income and eliminating net operating loss carrybacks for losses arising in taxable years ending after December 31, 2017.On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act was enacted which modified the prior legislation to allow 100% of the net operating losses arising in tax years 2018, 2019, and 2020 to be carried back five years. The Company does not have taxable income available in the carryback period. Net operating losses originating in taxable years beginning prior to January 1, 2018 are still subject to former carryover rules. The net operating loss carryforwards generated prior to this date of approximately $11,000,000, will expire between 2020 through 2038.
Stock-Based Compensation	The Company may issue stock options to employees and stock options or warrants to non-employees in non-capital raising transactions for services and for financing costs.The cost of stock options and warrants issued to employees and non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. The fair value of stock options and warrants is determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield. The expected term represents the period of time that stock-based compensation awards granted are expected to be outstanding and is estimated based on considerations including the vesting period, contractual term and anticipated employee exercise patterns. Expected volatility is based on the historical volatility of the Company’s stock. The risk-free rate is based on the U.S. Treasury yield curve in relation to the contractual life of stock-based compensation instrument. The dividend yield assumption is based on historical patterns and future expectations for the Company dividends. The following table represents stock warrant activity as of and for the six months ended June 30, 2020: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Warrants Outstanding – December 31, 2019 44,629,939 0.26 6.0 years - Granted - - - - Exercised 675,000 - - - Forfeited/expired/cancelled - - - Warrants Outstanding – June 30, 2020 43,954,939 $ 0.25 5.2 years $ - Outstanding Exercisable – June 30, 2020 43,954,939 $ 0.25 5.2 years $ - The Company issued 566,250 common shares from the exercise of 675,000 warrants during the six months ended June 30, 2020.
Impairment of long-lived assets	The Company is required to review its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally determined by using the asset's expected future discounted cash flows or market value. The Company estimates fair value of the assets based on certain assumptions such as budgets, internal projections, and other available information as considered necessary. There is no impairment of long-lived assets during the three and six months ended June 30, 2020 and 2019.
Accounting for Asset Retirement Obligations	Asset retirement obligations (“ARO”) primarily represent the estimated present value of the amount the Company will incur to plug, abandon and remediate its producing properties at the projected end of their productive lives, in accordance with applicable federal, state and local laws. The Company determined its ARO by calculating the present value of estimated cash flows related to the obligation. The retirement obligation is recorded as a liability at its estimated present value as of the obligation’s inception, with an offsetting increase to proved properties. The following table describes the changes in the Company’s asset retirement obligations for the three and six months ended June 30, 2020: Six months ended June 30, 2020 Asset retirement obligation – beginning $ 3,538,637 Oil and gas purchases 1,514,328 Accretion expense 241,278 Asset retirement obligation – ending $ 5,294,243
Undistributed Revenues and Royalties	The Company records a liability for cash collected from oil and gas sales that have not been distributed. The amounts get distributed in accordance with the working interests of the respective owners.
Subsequent events	The Company has evaluated all subsequent events from June 30, 2020 through the date of filing this report.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Summary of financial Assets and liabilities measured at fair value	Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets Commodity Derivative - 8,426,610 - 13,587,431 $ - $ 8,426,610 $ - $ 13,587,431 Financial liabilities - - - - Commodity Derivative $ - $ - $ - $ - Assets and liabilities measured at fair value as of December 31, 2019 are classified below based on the three fair value hierarchy described above: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Financial Assets - - - - Commodity Derivative $ - $ - $ - $ - Financial liabilities Commodity Derivative - 5,158,822 - (3,308,880 ) $ - $ 5,158,822 $ - $ (3,308,880 )
Summary of company commodity derivatives	Natural Gas Period Average MMBTU per Month Fixed Price per MMBTU Swap Dec-18 to Dec-22 118,936 $2.715 Collar Mar 20 / Aug 22 196,078 $2.00 / $2.43 Crude Oil Period Average BBL per Month Price per BBL Swap Dec-18 to Dec- 22 24,600 $50.85 Swap Jan-20 to Jun-20 1,400 $52.71 Collar Dec-17 to Jun-20 4,000 $55.00 / $72.00 Collar Feb 20 to Dec 20 16,278 $45.00 / $54.20 Collar Jan 21 to Dec 21 10,135 $45.00 / $56.00 Collar Jan 22 to July 22 6,934 $45.00 / $52.70
Summary of disaggregates the company's revenue by source	Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Oil $ 7,539,991 $ 7,194,400 $ 17,065,755 $ 14,926,562 Natural gas and natural gas liquids 2,009,872 1,539,923 4,272,060 3,154,353 $ 9,549,863 $ 8,734,323 $ 21,337,815 $ 18,080,915
Summary of stock warrant activity	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Warrants Outstanding – December 31, 2019 44,629,939 0.26 6.0 years - Granted - - - - Exercised 675,000 - - - Forfeited/expired/cancelled - - - Warrants Outstanding – June 30, 2020 43,954,939 $ 0.25 5.2 years $ - Outstanding Exercisable – June 30, 2020 43,954,939 $ 0.25 5.2 years $ -
Summary of changes in the company's asset retirement obligations	Six months ended June 30, 2020 Asset retirement obligation – beginning $ 3,538,637 Oil and gas purchases 1,514,328 Accretion expense 241,278 Asset retirement obligation – ending $ 5,294,243

Business Acquisition (Tables)

Business Acquisition (Tables)	6 Months Ended
	Jun. 30, 2020
Business Acquisition
Schedule of cash consideration	Provisional Fair Value of Assets and Liabilities Oil and Gas Properties $ 31,010,684 Asset retirement obligations assumed (1,514,328 ) $ 29,496,356
Summary of Proforma unaudited condensed selected financial data as through acquisition	Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Revenues $ 15,613,974 $ 28,200,088 Net loss $ 3,742,608 $ (8,865,491 ) Net loss per share $ 0.04 $ (0.10 )

Oil and Gas Properties (Tables)

Oil and Gas Properties (Tables)	6 Months Ended
	Jun. 30, 2020
Oil and Gas Properties
Summary of oil and gas activities by classification and geographical cost	December 31, 2019 Adjustments Impairments June 30, 2020 Proved developed producing oil and gas properties United States cost center $ 76,532,985 $ 22,826,768 $ - $ 99,359,753 Accumulated depreciation, depletion and amortization (7,608,544 ) (3,933,181 ) - (11,541,725 ) Proved developed producing oil and gas properties, net $ 68,924,441 $ 18,893,587 $ - $ 87,818,028 Undeveloped and non-producing oil and gas properties United States cost center $ 56,168,428 $ 9,362,913 $ - $ 65,531,341 Accumulated depreciation, depletion and amortization (5,350,753 ) (2,133,250 ) - (7,484,003 ) Undeveloped and non-producing oil and gas properties, net $ 50,817,675 $ 7,229,663 $ - $ 58,047,338 Total Oil and Gas Properties, Net $ 119,742,116 $ 26,123,250 $ - $ 145,865,366

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity
Summary of effects of changes in the Company's ownership interest	Noncontrolling interest - December 31, 2019 $ - Transfers to the noncontrolling interest Recognition of noncontrolling interest at fair value - Net loss attributable to noncontrolling interest 154,639 Change from net income attributable to Viking Energy Group, Inc. and transfers to from noncontrolling interest $ 154,639

Long Term Debt and Other Shor_2

Long Term Debt and Other Short-term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2020
Long Term Debt and Other Short-term Borrowings
Schedule of Long-term Debt	June 30, 2020 December 31, 2019 Long-term debt: During June through December of 2018, the Company borrowed $9,459,750 from private lenders, and exchanged $5,514,000 of amounts due lenders from prior borrowings as well as $191,250 in accrued interest, pursuant to a 10% Secured Promissory Note with 50% of the principal convertible into the Company’s common stock at $0.20 per share, all principal and accrued interest payable on the maturity date of August 31, 2020 (“the 2018 Convertible Notes”). The notes are secured by the Company’s membership interests in its subsidiaries, Petrodome Energy, LLC, Mid-Con Petroleum, LLC, Mid-Con Drilling, LLC, and Mid-Con Development, LLC. The balance shown is net of unamortized discount of $530,051 at June 30, 2020 and $2,086,008 at December 31, 2019. A majority of these lenders are also Viking shareholders. 10,544,164 11,163,357 On June 13, 2018, the Company borrowed $12,400,000 pursuant to a revolving line of credit facility with a maximum principal amount of $30,000,000 from Crossfirst Bank, bearing interest 1.5% above a base rate equal to the prime rate of interest published by the Wall Street Journal, interest only for June and July of 2018, at which time Principal is payable at $100,000 monthly through the maturity date of May 10, 2021, at which time all remaining unpaid principal and accrued interest shall be due. The loan is secured by a mortgage on all of the oil and gas leases of Petrodome Energy, LLC and its subsidiaries, a security agreement covering all of Petrodome Energy, LLC’s assets and a guaranty by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $0 at June 30, 2020 and $34,411 at December 31, 2019 7,090,000 7,655,589 On December 28, 2018, to facilitate the acquisition of certain oil and gas assets, the Company, through its subsidiary, Ichor Energy LLC, entered into a Term Loan Credit Agreement with various lenders represented by ABC Funding, LLC as administrative agent. The agreement provided for a total loan amount of $63,592,000, bearing interest at a rate per annum equal to the greater of (i) a floating rate of interest equal to 10% plus LIBOR, and (ii) a fixed rate of interest equal to 12%, payable monthly on the last day of each calendar month, commencing January 31, 2019. Principal payments are made quarterly at 1.25% of the initial loan amount, commencing on the last business day of the fiscal quarter ending June 30, 2019. On June 3, 2020, the Term Loan Credit Agreement was amended to reduce the permitted Asset Coverage Ratio for the fiscal quarters ending March 31, 2020, June 30, 2020 and September 30, 2020 from 1.35:1.00 to 1.15:1.00.Additionally, the First Amendment revises the interest rate under the Term Loan for the period from May 16, 2020 a per annum interest rate (i) if, as of the last day of the immediately preceding fiscal quarter, the Asset Coverage Ratio is less than 1.50:1.00, then the interest rate is the greater of (x) a floating rate of interest equal to 11.00% plus LIBOR, and (y) a fixed rate of interest equal to 13.00%, or (ii) if, as of the last day of the immediately preceding fiscal quarter, the Asset Coverage Ratio is greater than or equal to 1.50:1.00, then the interest rate is the greater of (x) a floating rate of interest equal to 10.50% plus LIBOR and (y) a fixed rate of interest equal to 12.50%.Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the Term Loan, approximately $12,000,000 of oil and gas development projects approved by the lender, and distributions to the Company of $65,000 per month for general and administrative expenses, and a quarterly tax distribution at the current statutory rates. Within 30 days of the end of each quarter, commencing with the quarter ended June 30, 2019, Ichor Energy, LLC is required to pay, as an additional principal payment on the debt, any cash in excess of the MLR and the APOD Capex Amount. To the extent not previously paid, all loans under the Loan Agreement shall be due and payable on the December 28, 2023 (the Maturity Date). The loan agreement contains prepayment penalties through December 28, 2021 and “make-whole” obligations through December 28, 2020. In addition, at maturity (or sooner under certain circumstances which include prepayment of the loan or sale of Ichor Energy, LLC) the lenders will receive a payment approximating 7% of the fair value of Ichor Energy, LLC at that time; such amount is not estimable. Obligations under the loan agreement are secured by mortgages on the oil and gas leases of Ichor Energy, LLC and all of its subsidiaries, a security agreement covering all assets of Ichor Energy, LLC, and a pledge by Ichor Holdings of all if the membership interests in Ichor Energy LLC. The balance shown is net of unamortized discount of $3,069,544 at June 30, 2020 and $3,507,364 at December 31, 2019. 52,547,961 53,699,940 On December 28, 2018, the Company issued a 10% secured promissory note in the amount of $23,777,948, payable to RPM Investments, secured by 100% of the membership interests of Ichor Energy Holdings, LLC. All accrued interest and unpaid principal were due on the earlier of (i) the date the Company or one of its affiliates completes an acquisition with one or more of the sellers for a purchase price equal to or greater than $50,000,000 or (ii) January 31, 2020. This note was secured by a pledge of all of the membership interests of Viking’s wholly-owned subsidiary, Ichor Energy Holdings, LLC. On February 3, 2020 in connection with an acquisition of oil and gas interests this note (including all unpaid accrued interest of $2,625,346) was settled and replaced with a new note. - 23,777,948 On February14, 2019, the Company executed a promissory note payable to CrossFirst Bank in the amount of $56,760 for the purchase of transportation equipment, bearing interest at 7.15%, payable in 60 installments of $1,130, secured by a vehicle, with a maturity date of February 14, 2024. 43,567 48,658 On July 24, 2019, the Company through its wholly owned subsidiary, Mid-Con Petroleum, LLC, executed a promissory note payable to Cornerstone Bank in the amount of $2,241,758, bearing interest at 6%, payable interest only for the first year, then payable in 59 installments of $43,438, with a final payment due on a maturity date of July 24, 2025.The note is secured by a first mortgage on all of the assets of Mid-Con Petroleum, LLC and a guarantee of payment by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $24,161 at June 30, 2020 and $26,538 at December 31, 2019. 2,217,598 2,215,221 On July 24, 2019, the Company through its wholly owned subsidiary, Mid-Con Drilling, LLC, executed a promissory note payable to Cornerstone Bank in the amount of $1,109,341, bearing interest at 6%, payable interest only for the first year, then payable in 59 installments of $21,495, with a final payment due on a maturity date of July 24, 2025. The note is secured by a first mortgage on all of the assets of Mid-Con Drilling, LLC and a guarantee of payment by Viking Energy Group, Inc. The balance shown is net of unamortized discount of $24,093 at June 30, 2020 and $26,464 at December 31, 2019. 1,034,585 1,032,215 On February 3, 2020, the Company executed a promissory note payable to Camber Energy, Inc. in the amount of $5,000,000, bearing interest at 10.5% payable quarterly with a maturity date of February 3, 2022.On June 26, 2020, the Company executed a second promissory note payable to Camber Energy, Inc. in the amount of $4,200,000, also bearing interest at 10.5% payable quarterly with a maturity date of February 3, 2022. Both of these notes are generally convertible into common shares of Viking at a conversion price of $0.24 per share subject to certain restrictions. The terms of the notes provide Camber with a security interest (subject to certain prerequisites) in Viking’s 70% ownership of Elysium Holdings, LLC and 100% of Ichor Energy Holdings, LLC. Additionally, Viking provided Camber a junior security interest in the membership or common stock of ownership interests of all of Viking’s other existing and future, directly-owned or majority-owned subsidiaries. 9,200,000 - On February 3, 2020, in connection with an acquisition of oil and gas interests, the Company executed a secured promissory note in the amount of $20,869,218, payable to EMC Capital Partners, LLC, subject to revision to the extent of any post-closing adjustment payments in connection with the acquisition. Such payments were to be applied to reduce the balance owing under the promissory note. During April 2020 the Company received post-closing adjustment payments in the amount of $5,277,589 which were applied to the note balance. This note replaced the secured promissory dated December 18, 2018 in favor of RPM Investments. This note bears interest at 10% and is payable along with the full amount of principal on June 11, 2021 and is secured by a pledge of all of the membership interests of Viking’s wholly-owned subsidiary, Ichor Energy Holdings, LLC. If the note is paid in full on or before the 150 th 15,591,629 - On February 3, 2020, to facilitate the acquisition of certain oil and gas assets, the Company, through one of its subsidiaries, Elysium Energy LLC, entered into a Term Loan Credit Agreement with various lenders represented by 405 Woodbine, LLC as administrative agent. The agreement provides for a total loan amount of $35,000,000 at a 4.0% original issue discount. bearing interest at the prime rate plus seven and three quarters percent (7.75%) payable monthly.Principal payments are due beginning on May 1, 2020, and on each month thereafter at one percent (1%) of the then-outstanding balance, and to the extent not paid on the maturity date of August 3, 2022. Cash generated from the operation of these assets is restricted to lease operating expenses, the payment of debt service on the Term Loan, oil and gas development projects approved by the lender, and a cost allocation of $150,000 per month for general and administrative expenses of the Company. The Borrower shall have the right at any time to prepay all or a portion of the Loan Balance. The loan agreement contains a prepayment penalty of 5% of any voluntary prepayment of principal through February 3, 2021 and 3% of any voluntary prepayment of principal on or between February 3, 2021 and February 3, 2022. Commencing with the quarter ended September 30, 2020 the Borrower is required to make mandatory prepayments of principal equal to 75% of Excess Cash Flow as defined in the agreement without any prepayment penalty fees.The loans are secured by mortgages on the oil and gas leases of Elysium Energy LLC and its subsidiaries, a security agreement covering all assets of Elysium and its subsidiaries, and a pledge of all of Elysium’s membership interests. The balance shown is net of unamortized discount of $3,645,437 at June 30, 2020. 31,730,047 - On or about February 18, 2020, the Company commenced an offering of securities consisting of a subordinated, secured, convertible debt instrument with equity features; during the six months ended June 30, 2020, the Company borrowed $2,780,554 under this offering from private lenders.The notes bear interest at 12%, payable quarterly, contain a conversion entitlement to convert all or a portion of the amount outstanding into common shares of the Company at $0.175 per share, and provide for the issuance of 150,000 common shares of the Company for every $100,000 exchanged or advanced. As security, the holders received, pari passu with all other holders, a pledge of the Company’s membership interest in Elysium Energy Holdings, LLC, and, as soon as the Company’s obligations to EMC Capital Partners, LLC are satisfied, a pledge of the Company’s membership interest in Ichor Energy Holdings, LLC. Any unpaid principal and interest is due on the maturity date of February 11, 2022. The balance shown is net of unamortized discount of $460,898. 2,319,656 - On April 18, 2020, the Company entered into an unsecured promissory note with Crossfirst Bank in the principal amount of $149,600 related to the CARES Act Payroll Protection Program. This note is fully guaranteed by the Small Business Administration and may be forgivable provided that certain criteria are met. The interest rate on the loan is 1%, and the note has a two-year maturity. The Company is required to make payments on the remaining principal of the note net of any loan forgiveness beginning November 18, 2020. 149,600 - 132,468,807 99,592,928 Other short-term borrowings – with related parties: On September 30, 2019, the Company received $910,000 under an agreement that requires the Company to make 28 weekly payments aggregating $1,237,600 through April 13, 2020. On December 23, 2019, the Company received an additional $242,750 under a replacement agreement that requires the Company to make 25 weekly payments aggregating $1,620,000 through June 15, 2020. The balance shown is net of the maximum discount of $413,445 at December 31, 2019. - 1,141,755 On October 3, 2019, the Company received $480,200 under an agreement that requires the Company to make 28 weekly payments aggregating $666,400 through April 20, 2020. The balance shown is net of the maximum discount of $132,289 at December 31, 2019. - 423,111 On December 23, 2019, the Company received $2,939,970 under an agreement that requires the Company to make 25 weekly payments aggregating $4,050,000 through June 15, 2020.The balance shown is net of the maximum discount of $1,110,030 at December 31, 2019. - 2,855,368 On February 7, 2020, the Company received $900,000 from a company. The advance is non-interest bearing and payable on demand. - - Other short-term borrowings: On November 26, 2019, the Company received $200,000 from an individual. The advance was non-interest bearing and payable on demand - 200,000 During May and June 2020, the Company received $350,000 from short-term unsecured promissory notes payable in six months from date of issue. The notes bear interest at 13.25% payable monthly and provide for the issuance of 500,000 common shares of the Company for every $100,000 invested. The balance shown is net of unamortized discount of $174,949. 175,051 - On June 3, 2020, the Company received $25,000 from an individual. 25,000 Total long-term debt and other short-term borrowings 132,668,858 104,213,162 Less current portion (63,059,086 ) (19,225,045 ) $ 69,609,772 $ 84,988,117
Schedule of Principal maturities of long-term debt	Twelve-month period ended June 30, Principal Unamortized Discount Net 2021 $ 68,529,121 $ 5,470,035 $ 63,059,086 2022 20,125,000 1,117,414 19,007,586 2023 3,591,444 888,057 2,703,387 2024 47,610,812 443,490 47,167,322 2025 705,253 10,138 695,115 Thereafter 36,362 - 36,362 $ 140,597,992 $ 7,929,134 $ 132,668,858

Nature of Business and Going _2

Nature of Business and Going Concern (Details Narrative)	Feb. 04, 2020USD ($)bbl	May 10, 2019integer	May 02, 2019integer	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)bbl
Convertible notes payable				$ 11,100,000
Debt term				Due in August of 2020
Loan amount				$ 31,700,000
Net income (loss)				2,576,209	$ (10,639,135)
Mid-Con Development, LLC [Member]
Number of oil lease | integer			41
Revolving credit facility [Member] | Cross First Bank [Member]
Long-term line of credit				30,000,000
Outstanding Balance				$ 7,090,000
Maturity date				May 10, 2021
Seller One [Member]
Notes payable				$ 15,500,000
Due date				Due in June of 2021
Elysium Energy [Member]
Acquisition description	Elysium hedged 75% of the estimated oil and gas production associated with the newly acquired assets for 2020, 60% of the estimated production for 2021 and 50% of the estimated production for the period between January 2022 to July 2022. Theses hedges have a floor of $45 and a ceiling ranging from $52.70 to $56 for oil, and a floor of $2 and a ceiling of $2.425 for natural gas
Elysium Energy [Member] | Subsequent Event [Member]
Daily barrel production | bbl	2,700
Cash acquired in excess of payments, Percentage	75.00%
General and administrative expenses	$ 150,000
Ichor Energy [Member]
Daily barrel production | bbl						2,000
General and administrative expenses						$ 65,000
Cash acquired in excess of payments						$ 2,000,000
Petrodome Louisiana Pipeline, LLC [Member]
Area of oil and gas acquisition		765 acre
Producing wells | integer		1
Gas well | integer		6
Petrodome Energy, LLC [Member]
Producing wells | integer		1
Seller [Member]
Due date				August and December of 2020
Revolving credit facility				$ 7,090,000
Due date for credit facility				May of 2021
Promissory note payable				$ 6,500,000
Principal payment, other debtors obligation				2,000,000
Convertible Notes Two [Member]
Convertible notes payable				$ 6,300,000
Debt term				December 31, 2020
Convertible Notes One [Member]
Convertible notes payable				$ 2,400,000
Debt term				Maturity of February 2022
Convertible Notes [Member]
Convertible notes payable				$ 2,200,000
Going Concern [Member]
Net income (loss)				2,576,209	$ (10,639,135)
Working capital deficit				$ (62,000,000)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Financial Assets
Commodity Derivative	$ (13,587,431)
Total Financial Assets	(13,587,431)
Financial Liabilities
Commodity Derivative	0	$ (3,308,880)
Total Financial Liabilities	0	(3,308,880)
Quoted Prices in Active Markets for Identical Assets/Level 1 [Member]
Financial Assets
Commodity Derivative	0	0
Total Financial Assets	0	0
Financial Liabilities
Commodity Derivative	0	0
Total Financial Liabilities	0	0
Significant Other Observable Inputs/Level 2 [Member]
Financial Assets
Commodity Derivative	8,426,610
Total Financial Assets	8,426,610
Financial Liabilities
Commodity Derivative	0	5,158,822
Total Financial Liabilities	0	5,158,822
Significant Unobservable Inputs/Level 3 [Member]
Financial Assets
Commodity Derivative	0	0
Total Financial Assets	0	0
Financial Liabilities
Commodity Derivative	0	0
Total Financial Liabilities	$ 0	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1)	6 Months Ended
	Jun. 30, 2020integer$ / bbl
Collar [Member] | Maximum [Member] | Natural Gas [Member]
Average MMBTU per Month | integer	196,078
Period	Mar 20 / Aug 22
Fixed Price per MMBTU | $ / bbl	2.43
Collar [Member] | Minimum [Member] | Natural Gas [Member]
Average MMBTU per Month | integer	196,078
Period	Mar 20 / Aug 22
Fixed Price per MMBTU | $ / bbl	2
Swap [Member] | Natural Gas [Member]
Average MMBTU per Month | integer	118,936
Period	Dec-18 to Dec-22
Fixed Price per MMBTU | $ / bbl	2.715
Crude Oil [Member] | Collar 4 [Member] | Maximum [Member]
Average MMBTU per Month | integer	6,934
Period	Jan 22 to July 22
Fixed Price per MMBTU | $ / bbl	52.70
Crude Oil [Member] | Collar 4 [Member] | Minimum [Member]
Average MMBTU per Month | integer	6,934
Period	Jan 22 to July 22
Fixed Price per MMBTU | $ / bbl	45
Crude Oil [Member] | Collar 3 [Member] | Maximum [Member]
Average MMBTU per Month | integer	10,135
Period	Jan 21 to Dec 21
Fixed Price per MMBTU | $ / bbl	56
Crude Oil [Member] | Collar 3 [Member] | Minimum [Member]
Average MMBTU per Month | integer	10,135
Period	Jan 21 to Dec 21
Fixed Price per MMBTU | $ / bbl	45
Crude Oil [Member] | Collar 2 [Member] | Maximum [Member]
Average MMBTU per Month | integer	16,278
Period	Feb 20 to Dec 20
Fixed Price per MMBTU | $ / bbl	54.20
Crude Oil [Member] | Collar 2 [Member] | Minimum [Member]
Average MMBTU per Month | integer	16,278
Period	Feb 20 to Dec 20
Fixed Price per MMBTU | $ / bbl	45
Crude Oil [Member] | Swap 1 [Member]
Period	Dec-18 to Dec- 22
Average BBL per Month | integer	24,600
Fixed Price per BBL | $ / bbl	50.85
Crude Oil [Member] | Swap 2 [Member] | Period 2 [Member]
Period	Jan-20 to Jun-20
Average BBL per Month | integer	1,400
Fixed Price per BBL | $ / bbl	52.71
Crude Oil [Member] | Collar 1 [Member] | Maximum [Member]
Period	Dec-17 to Jun-20
Average BBL per Month | integer	4,000
Fixed Price per BBL | $ / bbl	72
Crude Oil [Member] | Collar 1 [Member] | Minimum [Member]
Period	Dec-17 to Jun-20
Average BBL per Month | integer	4,000
Fixed Price per BBL | $ / bbl	55

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of Significant Accounting Policies
Oil	$ 7,539,991	$ 7,194,400	$ 17,065,755	$ 14,926,562
Natural gas and natural gas liquids	2,009,872	1,539,923	4,272,060	3,154,353
Total revenue	$ 9,549,863	$ 8,734,323	$ 21,337,815	$ 18,080,915

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 3) - Warrant [Member]	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Number of Shares
Warrants Outstanding, beginning | shares	44,629,939
Granted | shares
Exercised | shares	675,000
Forfeited/expired/cancelled | shares
Warrants outstanding, ending | shares	43,954,939
Outstanding, Exercisable, balance | shares	43,954,939
Weighted Average Exercise Price
Weighted Average Exercise Price, beginning | $ / shares	$ 0.26
Granted | $ / shares	0
Exercised | $ / shares	0
Forfeited/expired/cancelled | $ / shares	0
Weighted Average Exercise Price, ending | $ / shares	0.25
Weighted Average Exercise Price, Exercisable | $ / shares	$ 0.25
Weighted Average Remaining Contractual Life
Weighted Average Remaining Contractual Life, beginning	6 years
Granted
Weighted Average Remaining Contractual Life, ending	5 years 2 months 12 days
Weighted Average Remaining Contractual Life, Exercisable	5 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, ending | $	$ 0

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details 4) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Summary of Significant Accounting Policies
Asset retirement obligation, beginning			$ 3,538,637
Oil and gas purchases			1,514,328
Accretion expense	$ 115,658	$ 75,681	241,278	$ 158,227
Asset retirement obligation, ending			$ 5,294,243

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended	6 Months Ended
	Mar. 27, 2020	Feb. 03, 2020	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Derivative asset			$ 8,428,610	$ 8,428,610	$ 0
Coronavirus aid description	The Coronavirus Aid, Relief, and Economic Security Act was enacted which modified the prior legislation to allow 100% of the net operating losses arising in tax years 2018, 2019, and 2020 to be carried back five years.
Derivative liability			0	0	5,158,822
Change in fair value of derivative asset				12,756,834
Allowance for doubtful accounts			$ 217,057	$ 217,057	217,057
Dilutive common stock equivalents			125,890,784	125,890,784
Net operating loss carryforwards			$ 20,000,000	$ 20,000,000
Net operating loss carryback, percentage				80.00%
Net operating loss carryforwards to be expired through 2038			11,000,000	$ 11,000,000
Net operating loss carryforwards expire				Between 2019 through 2038.
Cash in excess of FDIC insured amount			3,675,254	$ 3,675,254	$ 4,163,360
Term Loan Credit Agreement, description				The company is required at all times to maintain a minimum cash balance of $2,000,000 (the “MLR”). Within 30 days of the end of each quarter, commencing with the quarter ended June 30, 2019, the company is required to pay the lenders, as an additional principal payment on the debt, any cash in excess of (i) the MLR and (ii) any funds necessary for the capital expenditures contemplated to be expended in the next six month period by an approved plan of development (“APOD Capex Amount”).
Ichor Energy, LLC and Elysium Energy, LLC [Member]
Restricted cash			2,569,003	$ 2,569,003
Elysium Energy [Member]
Change in fair value of derivative asset		$ 830,598
Restricted cash			487,859	487,859
Ichor Energy [Member]
Restricted cash			$ 2,081,144	$ 2,081,144
Warrant [Member]
Common stock, shares issued				566,250
Common stock exercise of warrants				675,000

Business Acquisition (Details)

Business Acquisition (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Provisional Fair Value of Assets and Liabilities
Oil and Gas Properties	$ 31,010,684
Asset retirement obligations assumed	(1,514,328)
Total Consideration Given	$ 29,496,356

Business Acquisition (Details 1

Business Acquisition (Details 1) - Proforma [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Net loss per share	$ 0.04	$ (0.10)
Revenues	$ 15,613,974	$ 28,200,088
Net loss	$ 3,742,608	$ (8,865,491)

Business Acquisition (Details N

Business Acquisition (Details Narrative)	Feb. 03, 2020USD ($)
Business Acquisition
Working interests	$ 29,496,356

Oil and Gas Properties (Details

Oil and Gas Properties (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Total Oil and Gas Properties, Net	$ 145,865,366	$ 119,742,116
Total Oil and Gas Properties, Net, Adjustment	26,123,250
Proved Developed Producing [Member]
United States cost center	99,359,753	76,532,985
Accumulated depreciation, depletion and amortization	(11,541,725)	(7,608,544)
United States cost center, Adjustment	22,826,768
Accumulated depreciation, depletion and amortization, Adjustment	(3,933,181)
Oil and gas properties, net, Adjustment	18,893,587
Oil and gas properties, net	87,818,028	68,924,441
Undeveloped and Non-producing [Member]
United States cost center	65,531,341	56,168,428
Accumulated depreciation, depletion and amortization	(7,484,003)	(5,350,753)
United States cost center, Adjustment	9,362,913
Accumulated depreciation, depletion and amortization, Adjustment	(2,133,250)
Oil and gas properties, net, Adjustment	7,229,663
Oil and gas properties, net	$ 58,047,338	$ 50,817,675

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	4 Months Ended	6 Months Ended
	Feb. 07, 2020	Jun. 30, 2020	Feb. 18, 2020
Convertible debt		$ 11,100,000
Mr. Barker [Member]
Accounts payable		174,468
Mr. James Doris [Member]
Accrued interest		$ 37,841
Interest rate		12.00%
Due to related party		$ 590,555
Mr. Caruso [Member]
Ownership percentage		10.00%
Common stock, shares issued during the period, shares	17,954,565
Common stock, shares issued during the period, amount	$ 2,748,504
Convertible debt			$ 550,000

Equity (Details)

Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Equity (Details)
Noncontrolling interest					$ 0
Transers to non controlling interest
Recognition of noncontrolling interest at fair value			$ 0
Net loss attributable to noncontrolling interest	$ 1,111,808	$ 0	154,639	$ 0
Change from net income attributable to Viking Energy Group, Inc. and transfers to from noncontrolling interest			$ 154,639

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Feb. 03, 2020	Nov. 05, 2018	Jun. 26, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Preferred stock Series, par value				$ 0.001		$ 0.001		$ 0.001
Preferred stock Series, authorized				5,000,000		5,000,000		5,000,000
Series C preferred stock designated shares				50,000		50,000
Description for series C preferred stock voting rights						Pursuant to the amended Certification of Designation of the Series C Preferred Stock filed on June 17, 2020, each share of Series C Preferred Stock entitles the holder thereof to 37,500 votes on all matters submitted to the vote of the stockholders of the Company.
Amendment to articles of incorporation description		To increase the number of shares of common stock the Company is authorized to issue from 100,000,000 to 500,000,000.
Loss on financial settlement				$ (931,894)	$ 0	$ (931,894)
Fair value of common stock issued for services						$ 451,382	$ 42,082
Camber Energy, Inc. [Member]
Proceeds from related party debt	$ 5,000,000		$ 4,200,000
Membership interest assigned to related party	25.00%		5.00%
Transaction Four [Member]
Common stock, shares issued upon settlement of debt, shares						26,151,286
Common stock, shares issued upon settlement of debt, Amount						$ 4,110,250
Loss on financial settlement						$ (931,894)
Transaction Two [Member]
Number of warrants exercised						566,250
Common stock shares issued, upon exercise warrants, shares						675,000
Transaction Three [Member]
Common stock issued against debt discount						5,921,018
Fair value of Common stock issued as discount against debt						$ 718,860
Transaction One [Member]
Common stock issued for services						3,235,255	210,929
Fair value of common stock issued for services						$ 451,382	$ 42,082

Long Term Debt and Other Shor_3

Long Term Debt and Other Short-term Borrowings (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Long term debt		$ 132,468,807	$ 99,592,928
Total long-term debt and other short-term borrowings		132,668,858	104,213,162
Less current portion		(63,059,086)	(19,225,045)
Long term debt - net of current portion and debt discount	$ 69,609,772	69,609,772	84,988,117
Other Short Term Borrowings One [Member]
Other short-term borrowings		0	1,141,755
Other Short Term Borrowings Two [Member]
Other short-term borrowings		0	423,111
Other Short Term Borrowings Three [Member]
Other short-term borrowings		0	2,855,368
Other Short Term Borrowings Four [Member]
Other short-term borrowings		0	200,000
Other Short Term Borrowings Five [Member]
Other short-term borrowings		175,051	0
Other Short Term Borrowings Six [Member]
Other short-term borrowings		25,000	0
Long-term Debt One [Member]
Long term debt including current and non-current portion		10,544,164	11,163,357
Long-term Debt Two [Member]
Long term debt including current and non-current portion		7,090,000	7,655,589
Long-term Debt Three [Member]
Long term debt including current and non-current portion		52,547,961	53,699,940
Long-term Debt Four [Member]
Long term debt including current and non-current portion		0	23,777,948
Long-term Debt Five [Member]
Long term debt including current and non-current portion		43,567	48,658
Long-term Debt Six [Member]
Long term debt including current and non-current portion		2,217,598	2,215,221
Long-term Debt Seven [Member]
Long term debt including current and non-current portion		1,034,585	1,032,215
Long-term Debt Eight [Member]
Long term debt including current and non-current portion		9,200,000	0
Long-term Debt Nine [Member]
Long term debt including current and non-current portion		15,591,629	0
Long-term Debt Ten [Member]
Long term debt including current and non-current portion		31,730,047	0
Long-term Debt Eleven [Member]
Long term debt including current and non-current portion		2,319,656	0
Long-term Debt Twelve [Member]
Long term debt including current and non-current portion		$ 149,600	$ 0

Long Term Debt and Other Shor_4

Long Term Debt and Other Short-term Borrowings (Details 1)	Jun. 30, 2020USD ($)
2021	$ 63,059,086
2022	19,007,586
2023	2,703,387
2024	47,167,322
2025	695,115
Thereafter	36,362
Long term debt, Total	132,668,858
Principal [Member]
2021	68,529,121
2022	20,125,000
2023	3,591,444
2024	47,610,812
2025	705,253
Thereafter	36,362
Long term debt, Total	140,597,992
Unamortized Discount [Member]
2021	5,470,035
2022	1,117,414
2023	888,057
2024	443,490
2025	10,138
Thereafter	0
Long term debt, Total	$ 7,929,134

Long Term Debt and Other Shor_5

Long Term Debt and Other Short-term Borrowings (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Feb. 03, 2020	Dec. 28, 2018	Jun. 13, 2018
Convertible notes	$ 11,100,000
2018 Promissory Note [Member]
Convertible notes	$ 4,600,000
Maturity date	February 2022
Otherwise maturity date	August 2020
Loan Covenants [Member]
Loan from bank		$ 36,458,333	$ 63,592,000
Loan Covenants [Member] | Cross First Bank [Member]
Loan from bank				$ 30,000,000

Commitments and contingencies (

Commitments and contingencies (Details Narrative) - USD ($)	Feb. 03, 2020	Jun. 30, 2020	Jun. 30, 2019
Operating lease expense		$ 48,192	$ 48,192
Lease agreement, description		The Company’s subsidiary, Petrodome Energy, LLC entered into a 66-month lease for 4,147 square feet of office space for the Company’s corporate office in Houston, Texas. The annual base rent commenced at $22.00 per square foot, and escalates at $0.50 per foot each year through expiration of the lease term.
Merger agreement [Member] | Camber Energy, Inc. [Member]
Percentage of voting interest in post-closing entity	80.00%
Description of condition for completion of agreement	(i) the effectiveness of a registration statement registering the shares of Camber common stock to be issued to Viking’s shareholders in the merger and (ii) shareholder approval of the merger transactions by Camber’s shareholders and Viking’s shareholders. Additional closing conditions include (i) that in the event the NYSE American determines that the merger constitutes, or will constitute, a “back-door listing”/”reverse merger”, Camber (and its common stock) is required to qualify for initial listing on the NYSE American, and (ii) that the only loan obligations with a maturity date in 2020 that Viking shall have at closing shall be the 2018 Convertible Notes.

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jul. 07, 2020	Feb. 03, 2020	Aug. 14, 2020	Jul. 31, 2020	Jun. 30, 2020
Debt Instrument, Term				5 years
Common stock, shares issued upon service rendered				2,500,000	3,235,255
Price per share					$ 0.001
Warrant [Member]
Common stock, shares issued in connection with the issuance of the new note					566,250
Subsequent Event [Member] | 2018 Promissory Note [Member]
Debt Conversion, Converted Instrument, Shares Issued			14,907,633
Debt Instrument, Convertible, Conversion Price			$ 0.15
Conversion of stock, shares issued			3,354,218
Convertible notes, principal amount			$ 2,197,745
Accrued interest			$ 38,400
Subsequent Event [Member] | June 30, 2010 [Member] | Noteholders [Member]
Common stock, shares issued during period as payment of interest					610,972
Subsequent Event [Member] | Radium [Member] | July 2020 [Member]
Debt Conversion, Converted Instrument, Shares Issued					11,065,574
Debt Instrument, Convertible, Conversion Price					$ 0.122
Promissory note					$ 1,350,000
Subsequent Event [Member] | Several parties [Member]
Conversion of stock, shares issued					15,154,811
Subsequent Event [Member] | Noteholder Two [Member]
Maturity date			Dec. 31, 2020
Convertible notes, principal amount			$ 6,301,020
Subsequent Event [Member] | Noteholder One [Member]
Maturity date			Feb. 11, 2022
Debt Conversion, Converted Instrument, Shares Issued			3,679,725
Convertible notes, principal amount			$ 2,453,150
Subsequent Event [Member] | Convertible promissory note [Member]
Convertible promissory note	$ 25,000
Maturity date	Feb. 11, 2020
Common stock, shares issued in connection with the issuance of the new note	37,500
Debt Conversion, Converted Instrument, Shares Issued	166,667
Debt Instrument, Convertible, Conversion Price	$ 0.15
Subsequent Event [Member] | Promissiory Note [Member]
Debt Instrument, Convertible, Conversion Price				$ 0.15
Conversion of stock, shares issued				1,600,000
Convertible notes, principal amount				$ 500,000
Debt interest payable				12.00%
Debt description				The note matures on the earlier of (i) 180 days after the date of the note, or (ii) the completion of the Company’s up-listing to a national stock exchange, whether via merger or otherwise, if repayment of the note is required by a third party; the note accrues interest at 12% per annum, with interest due at maturity; and the note is convertible into shares of the Company’s common stock at a fixed conversion price of $0.15, subject to a 4.99% waivable beneficial ownership limitation.
Subsequent Event [Member] | Warrant [Member]
Common stock, shares issued pursuant to cashless exercise of warrants				7,125
Subsequent Event [Member] | Loan Convenants [Member]
Loan from bank		$ 36,458,333
Common stock, shares issued to lenders		3,000,000
Payment of lender					$ 87,000
Royalty interest		50.00%