PEDEVCO (PED) 10-Q 15 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 12, 2019
Document And Entity Information
Entity Registrant Name	PEDEVCO CORP
Entity Central Index Key	0001141197
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		45,508,884
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 8,779	$ 3,463
Restricted cash	2,566	2,316
Accounts receivable - oil and gas	895	842
Prepaid expenses and other current assets	155	204
Total current assets	12,395	6,825
Oil and gas properties:
Oil and gas properties, subject to amortization, net	69,804	51,946
Oil and gas properties, not subject to amortization, net	1,920	8,516
Total oil and gas properties, net	71,724	60,462
Other assets	235	238
Total assets	84,354	67,525
Current liabilities:
Accounts payable	10,012	4,509
Accrued expenses	1,431	3,391
Revenue payable	861	831
Asset retirement obligations - current	124	119
Total current liabilities	12,428	8,850
Long-term liabilities:
Accrued expenses	0	14
Accrued expenses - related party	0	943
Notes payable - Subordinated	0	400
Notes payable - Subordinated - related party	0	30,200
Notes payable - related party, net of debt discount of $-0- and $161, respectively	0	7,694
Asset retirement obligations	2,575	2,452
Total liabilities	15,003	50,553
Shareholders' equity (deficit):
Common stock, $0.001 par value, 200,000,000 shares authorized; 45,288,828 and 15,808,445 shares issued and outstanding, respectively	45	16
Additional paid-in-capital	156,795	101,450
Accumulated deficit	(87,489)	(84,494)
Total shareholders' equity (deficit)	69,351	16,972
Total liabilities and shareholders' equity (deficit)	$ 84,354	$ 67,525

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Notes payable - related party, net of debt discount	$ 0	$ 161
Stockholders' equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	45,288,828	15,808,445
Common stock, shares outstanding	45,288,828	15,808,445

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Oil and gas sales	$ 1,568	$ 644
Operating expenses:
Lease operating costs	970	312
Exploration expense	10	10
Selling, general and administrative expense	1,328	738
Depreciation, depletion, amortization and accretion	2,249	582
Total operating expenses	4,557	1,642
Gain on sale of oil and gas properties	920	0
Operating loss	(2,069)	(998)
Other income (expense):
Interest expense	(826)	(3,236)
Gain on debt restructuring	(100)	0
Total other income (expense)	(926)	(3,236)
Net loss	$ (2,995)	$ (4,234)
Earnings (loss) per common share: Basic	$ (0.11)	$ (0.58)
Earnings (loss) per common share: Diluted	$ (0.11)	$ (0.58)
Weighted average number of common shares outstanding: Basic	27,828,383	7,278,754
Weighted average number of common shares outstanding: Diluted	27,828,383	7,278,754

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows From Operating Activities:
Net loss	$ (2,995)	$ (4,234)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation, depletion and amortization	2,249	582
Stock-based compensation expense	299	183
Interest expense deferred and capitalized in debt restructuring	0	1,911
Gain on sale of oil and gas properties	(920)	0
Amortization of debt discount	161	712
Changes in operating assets and liabilities:
Accounts receivable - oil and gas	(53)	(50)
Prepaid expenses and other current assets	49	16
Accounts payable	1,847	249
Accrued expenses	(1,954)	308
Accrued expenses - related parties	657	261
Revenue payable	30	21
Net cash used in operating activities	(630)	(41)
Cash Flows From Investing Activities:
Cash paid for oil and gas properties	(700)	0
Cash paid for drilling costs	(9,279)	0
Proceeds from the sale of oil and gas property	1,175	0
Net cash used in investing activities	(8,804)	0
Cash Flows From Financing Activities:
Proceeds from notes payable - related parties	15,000	0
Net cash provided by (used in) financing activities	15,000	0
Net increase in cash and restricted cash	5,566	(41)
Cash and restricted cash at beginning of period	5,779	917
Cash and restricted cash at end of period	11,345	876
Supplemental Disclosure of Cash Flow Information
Cash paid for: Interest	0	0
Cash paid for: Income Taxes	0	0
Noncash Investing and Financing Activities:
Change in accrued oil and gas development costs	3,656	0
Acquisition of asset retirement obligations	33	0
Changes in estimates of asset retirement obligations	11	0
Common stock issued as debt inducement	$ 55,075	$ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Series A Convertible Preferred Stock	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Beginning Balance, Amount at Dec. 31, 2017	$ 0	$ 7	$ 100,954	$ (138,101)	$ (37,140)
Beginning Balance, Shares at Dec. 31, 2017	66,625	7,278,754
Shared-based compensation			183		183
Net loss				(4,234)	(4,234)
Ending Balance, Amount at Mar. 31, 2018	$ 0	$ 7	101,137	(142,335)	(41,191)
Ending Balance, Shares at Mar. 31, 2018	66,625	7,278,754
Beginning Balance, Amount at Dec. 31, 2018	$ 0	$ 16	101,450	(84,494)	16,972
Beginning Balance, Shares at Dec. 31, 2018	0	15,808,445
Issuance of common stock for debt conversions, Amount		$ 29	55,046		55,075
Issuance of common stock for debt conversions, Shares		29,480,383
Shared-based compensation			299		299
Net loss				(2,995)	(2,995)
Ending Balance, Amount at Mar. 31, 2019	$ 0	$ 45	$ 156,795	$ (87,489)	$ 69,351
Ending Balance, Shares at Mar. 31, 2019	0	45,288,828

1. BASIS OF PRESENTATION

1. BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	The accompanying consolidated financial statements of PEDEVCO Corp. (“PEDEVCO” or the “Company”), have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto contained in PEDEVCO’s latest Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, 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. Notes to the financial statements that would substantially duplicate disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April 1, 2019, have been omitted. The Company’s consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and subsidiaries in which the Company has a controlling financial interest. All significant inter-company accounts and transactions have been eliminated in consolidation. The Company's future financial condition and liquidity will be impacted by, among other factors, the success of our drilling program, the number of commercially viable oil and natural gas discoveries made and the quantities of oil and natural gas discovered, the speed with which we can bring such discoveries to production, and the actual cost of exploration, appraisal and development of our prospects.

2. DESCRIPTION OF BUSINESS

2. DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	PEDEVCO is an oil and gas company focused on the development, acquisition and production of oil and natural gas assets where the latest in modern drilling and completion techniques and technologies have yet to be applied. In particular, the Company focuses on legacy proven properties where there is a long production history, well defined geology and existing infrastructure that can be leveraged when applying modern field management technologies. The Company’s current properties are located in the San Andres formation of the Permian Basin situated in West Texas and eastern New Mexico (the “Permian Basin”) and in the Denver-Julesberg Basin (“D-J Basin”) in Colorado. The Company holds its Permian Basin acres located in Chavez and Roosevelt Counties, New Mexico, through its wholly-owned operating subsidiary, Pacific Energy Development Corp. (“PEDCO”), which asset the Company refers to as its “Permian Basin Asset,” and it holds its D-J Basin acres located in Weld and Morgan Counties, Colorado, through its wholly-owned operating subsidiary, Red Hawk Petroleum, LLC (“Red Hawk”), which asset the Company refers to as its “D-J Basin Asset.” The Company’s strategy is to be the operator, directly or through its subsidiaries and joint ventures, in the majority of its acreage so it can dictate the pace of development in order to execute its business plan. The majority of its capital expenditure budget through 2019 will be focused on the development of the Company’s Permian Basin Asset, with a secondary focus on development of its D-J Basin Asset. The Company’s 2019 total development plan calls for the deployment of an estimated $52.1 million in capital, of which approximately $22.0 million has been raised to date. On the Company’s Permian Basin Asset, four initial horizontal wells were drilled in December 2018 and January 2019 in Phase One of its development plan, followed by Phase Two which contemplates the drilling and completion of an additional eight horizontal wells through 2020, subject to, and based upon, the results from Phase One, and in each case, available funding. The Company’s 2019 D-J Basin Asset development plan is currently under evaluation for its operated acreage and its non-operated acreage, and is projected to require approximately $7.6 million in capital through 2019. Due to the held-by-production nature of the Company’s Permian Basin assets, the Company believes capital can be readily allocated to its D-J Basin assets if needed. The Company expects that it will have sufficient cash available to meet its needs over the foreseeable future, which cash the Company anticipates being available from (i) its projected cash flows from operations, (ii) its existing cash on hand, (iii) equity infusions or loans (which may be convertible) made available from SK Energy LLC, which is 100% owned and controlled by Dr. Simon Kukes, the Company’s Chief Executive Officer and director (“SK Energy”), which funding SK Energy is under no obligation to provide, and (iv) funding through credit or loan facilities. In addition, the Company may seek additional funding through asset sales, farm-out arrangements, lines of credit, or public or private debt or equity financings to fund additional 2019 capital expenditures and/or acquisitions. If market conditions are not conducive to raising additional funds, the Company may choose to extend the drilling program and associated capital expenditures further into 2020.

3. SUMMARY OF SIGNIFICANT ACCOU

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	The Company has provided a discussion of significant accounting policies, estimates and judgments in its 2018 Annual Report. There have been no changes to the Company’s significant accounting policies since December 31, 2018. Recently Adopted Accounting Pronouncements Revenue Recognition. Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases (Topic 842)” Leases (Topic 842): Targeted Improvements” In addition, the Company elected practical expedients provided by the new standard whereby, the Company has elected to not reassess its prior conclusions about lease identification, lease classification, and initial direct costs and to retain off-balance sheet treatment of short-term leases (i.e., 12 months or less and does not contain a purchase option that the Company is reasonably certain to exercise). As a result of the short-term expedient election, the Company has no leases that require the recording of a net lease asset and lease liability on the Company’s consolidated balance sheet or have a material impact on consolidated earnings or cash flows as of March 31, 2019. Moving forward, the Company will evaluate any new lease commitments for application of Topic 842. Compensation-Stock Compensation. In June 2018, the FASB issued ASU 2018-07, “Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting”. Recently Issued Accounting Pronouncements The Company does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows. Subsequent Events The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

4. REVENUE FROM CONTRACTS WITH

4. REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2019
Revenue From Contracts With Customers
REVENUE FROM CONTRACTS WITH CUSTOMERS	Change in Accounting Policy. “Revenue from Contracts with Customers (Topic 606)” Exploration and Production. Disaggregation of Revenue from Contracts with Customers. March 31, 2019 March 31, 2018 Oil sales $ 1,453 $ 549 Natural gas sales 109 49 Natural gas liquids sales 6 46 Total revenue from customers $ 1,568 $ 644 There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of March 31, 2019 or 2018, respectively.

5. OIL AND GAS PROPERTIES

5. OIL AND GAS PROPERTIES	3 Months Ended
	Mar. 31, 2019
Oil and Gas Property [Abstract]
OIL AND GAS PROPERTIES	The following table summarizes the Company’s oil and gas activities by classification for the three months ended March 31, 2019 (in thousands): Balance at December 31, Balance at March 31, 2018 Additions Disposals Transfers 2019 Oil and gas properties, subject to amortization $ 70,803 $ 13,635 $ (255 ) $ 6,596 $ 90,779 Oil and gas properties, not subject to amortization 8,516 - - (6,596 ) 1,920 Asset retirement costs 2,188 22 - - 2,210 Accumulated depreciation and depletion (21,045 ) (2,140 ) - - (23,185 ) Total oil and gas assets $ 60,462 $ 11,517 $ (255 ) $ - $ 71,724 On February 1, 2019, for consideration of $700,000, the Company completed an asset purchase from Manzano, LLC and Manzano Energy Partners II, LLC, whereby the Company purchased approximately 18,000 net leasehold acres, ownership and operated production from one horizontal well currently producing from the San Andres play in the Permian Basin, ownership of three additional shut-in wells and ownership of one saltwater disposal well. The Company subsequently drilled one Manzano well, which has yet to be completed as March 31, 2019. On March 7, 2019, Red Hawk sold rights to 85.5 net acres of oil and gas leases located in Weld County, Colorado, to a third party, for aggregate proceeds of $1.2 million and recognized a gain on sale of oil and gas properties of $920,000 on the statement of operations. The sale agreement included a provision whereby the purchaser was required to assign Red Hawk 85 net acres of leaseholds in an area located where the Company already owns other leases in Weld County, Colorado, within nine months from the date of the sale, or to repay the Company up to $200,000 (proportionally adjusted for the amount of leasehold delivered). The purchaser has not yet identified or assigned the required leasehold acreage to the Company. For the three-month period ended March 31, 2019, the Company has incurred $12.8 million in drilling costs for the drilling of five wells, four of which were completed. There were no drilling costs for the three-month period ended March 31, 2018. The depletion recorded for production on proved properties for the three months ended March 31, 2019 and 2018, amounted to $2,140,000, compared to $563,000, respectively.

6. OTHER CURRENT ASSETS

6. OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
OTHER CURRENT ASSETS	On September 11, 2013, the Company entered into a Shares Subscription Agreement (“SSA”) to acquire an approximate 51% ownership in Asia Sixth Energy Resources Limited (“Asia Sixth”), which held an approximate 60% ownership interest in Aral Petroleum Capital Limited Partnership (“Aral”), a Kazakhstan entity. In August 2014 the SSA was restructured (the “Aral Restructuring”), in connection with which the Company received a promissory note in the principal amount of $10.0 million from Asia Sixth (the “A6 Promissory Note”), which was to be converted into a 10.0% interest in Caspian Energy, Inc. (“Caspian Energy”), an Ontario, Canada company listed on the NEX board of the TSX Venture Exchange, upon the consummation of the Aral Restructuring. The Aral Restructuring was consummated on May 20, 2015, upon which date the A6 Promissory Note was converted into 23,182,880 shares of common stock of Caspian Energy. In February 2015, the Company expanded its D-J Basin position through the acquisition of acreage from Golden Globe Energy (US), LLC (“GGE”)(the “GGE Acquisition” and the “GGE Acquired Assets”). In connection with the GGE Acquisition, on February 23, 2015, the Company provided GGE an option to acquire its interest in Caspian Energy for $100,000 payable upon exercise of the option (which was to expire on May 12, 2019) recorded in prepaid expenses and other current assets. As a result, the carrying value of the 23,182,880 shares of common stock of Caspian Energy which were issued upon conversion of the A6 Promissory Note at December 31, 2015 was $100,000. The $100,000 option was classified as part of other current assets as of December 31, 2018, and, since the option expired without being exercised on May 12, 2019 prior to the filing date of these financial statements, the Company fully reserved the $100,000 and recognized no value related to the option on the Company’s balance sheet as of March 31, 2019.

7. NOTES PAYABLE

7. NOTES PAYABLE	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE	The Company’s notes payable consisted of the following (in thousands): March 31, December 31, 2019 2018 Notes Payable - Subordinated $ - $ 400 Notes Payable - Subordinated Related Party - 30,200 Notes Payable - Related Party - 7,855 - 38,455 Unamortized Debt Discount - (161 ) Total Notes Payable $ - $ 38,294 Convertible Note Issuances On June 26, 2018, the Company borrowed $7.7 million from SK Energy under a Promissory Note dated June 25, 2018, in the amount of $7.7 million (the “June 2018 SK Energy Note”) and shown on the balance sheet as Note Payable – Related Party, net of debt discount from the issuance of 600,000 shares of common stock (as described below) with a fair value of $185,000 based on the market price at the issuance date. The June 2018 SK Energy Note accrues interest monthly at 8% per annum, payable quarterly, in either cash or shares of common stock (at the option of the Company), or, with the consent of SK Energy, such interest may be accrued and capitalized. As additional consideration for SK Energy agreeing to the terms of the June 2018 SK Energy Note, the Company agreed to issue SK Energy 600,000 shares of common stock (the “Loan Shares”), with a fair value of $185,000 based on the market price on the date of issuance that was accounted for as a debt discount and is being amortized over the term of the note. Based on a conversion price equal to $2.18, pursuant to the conversion terms of the June 2018 SK Energy Note, the amount of interest under the June 2018 SK Energy Note as of December 31, 2018 equaled $155,000 and was included in the outstanding principal balance of $7,855,000, for interest not paid or issued in common stock when due, the amount is recapitalized into the face value of the note, per the terms of the June 2018 SK Energy Note. The total amount of the remaining debt discount reflected on the accompanying balance sheet as of December 31, 2018 was $161,000, which was amortized in full as of March 31, 2019, due to the note conversions, which included $107,000 of additional interest that was included in the principal balance, noted below under “Convertible Notes Amendment and Conversion” and “SK Energy Note Amendment; Note Purchases and Conversion”. On August 1, 2018, the Company received total proceeds of $23,600,000 from the sale of multiple Convertible Promissory Notes (the “Convertible Notes”). A total of $22,000,000 in Convertible Notes were purchased by SK Energy (the “August 2018 SK Energy Note”); $200,000 in Convertible Notes were purchased by an executive officer of SK Energy; $500,000 in Convertible Notes were purchased by a trust affiliated with John J. Scelfo, a director of the Company; $500,000 in Convertible Notes were purchased by an entity affiliated with Ivar Siem, our director, and J. Douglas Schick, President of the Company; $200,000 in Convertible Notes was purchased by H. Douglas Evans (who became a Director and related party on September 27, 2018); and $200,000 in Convertible Notes were purchased by an unaffiliated party. The $23,600,000 is accounted for on the balance sheet as $23,200,000 of subordinated notes payable – related party and $400,000 as subordinated notes, as these notes are subordinated to the original June 2018 SK Energy Note. The Convertible Notes accrue interest monthly at 8.5% per annum, which interest is payable on the maturity date unless otherwise converted into our common stock as described below. The accrued interest is accounted for on the balance sheet as of December 31, 2018 as $943,000 of accrued interest – related party and $14,000 of accrued interest. As of March 31, 2019, there was no accrued interest – related party or accrued interest, as $347,000 of accrued interest – related party and $6,000 of accrued interest incurred during 2019 together with the accrued interest outstanding as of December 31, 2018 was converted into shares of common stock due to the note conversions described below. The Convertible Notes and all accrued interest thereon are convertible into shares of our common stock, from time to time after August 29, 2018, at the option of the holders thereof, at a conversion price equal to $2.13 per share, per terms of the Convertible Notes. On October 25, 2018, the Company borrowed an additional $7.0 million from SK Energy, through the sale of a convertible promissory note in the amount of $7.0 million (the “October 2018 SK Energy Note”). The October 2018 SK Energy Note had substantially similar terms as the August 2018 SK Energy Note, except that it had a conversion price of $1.79 per share. The October 2018 SK Energy Note is due and payable on October 25, 2021, but may be prepaid at any time without penalty. The accrued interest expense related to this note for the year ended December 31, 2018 was $109,000 and is accounted for on the balance sheet as accrued interest – related party. As of March 31, 2019, there was no accrued interest – related party, as accrued interest of $78,000 incurred during 2019 together with the accrued interest outstanding as of December 31, 2018 was converted into shares of common stock due to the note conversions described below. January 2019 SK Energy Convertible Note On January 11, 2019, the Company borrowed an additional $15.0 million from SK Energy, through the sale of a convertible promissory note in the amount of $15.0 million (the “January 2019 SK Energy Note”). The January 2019 SK Energy Note had substantially similar terms as the August 2018 SK Energy Note, except that it had a conversion price of $1.50 per share. The January 2019 SK Energy Note is due and payable on January 11, 2022, but may be prepaid at any time without penalty. As of March 31, 2019, there was no outstanding principal or accrued interest – related party due to the note conversions noted below. Accrued interest-related party for this note prior to the conversion totaled $126,000. Convertible Notes Amendment and Conversion On February 15, 2019, the Company and SK Energy agreed to amend the Convertible Notes (including the August 2018 SK Energy Note), October 2018 SK Energy Note, and the January 2019 SK Energy Note, to remove the conversion limitation that previously prevented SK Energy from converting any portion of the notes into common stock of the Company if such conversion would have resulted in SK Energy beneficially owning more than 49.9% of the Company’s outstanding shares of common stock Immediately following the entry into the amendment, on February 15, 2019, SK Energy elected to convert (i) all $15,000,000 of the outstanding principal and all $126,000 of accrued interest then owed under the January 2019 SK Energy Note into common stock of the Company at a conversion price of $1.50 per share, as set forth in the January 2019 SK Energy Note into 10,083,819 shares of restricted common stock of the Company, and (ii) all $7,000,000 of the outstanding principal and all $187,000 of accrued interest under the October 2018 SK Energy Note into common stock of the Company at a conversion price of $1.79 per share, as set forth in the October 2018 SK Energy Note, into 4,014,959 shares of restricted common stock of the Company. On March 1, 2019, the Company and SK Energy amended the June 2018 SK Energy Note, to provide SK Energy the right, at any time, at its option, to convert the principal and interest owed under such June 2018 SK Energy Note, into shares of the Company’s common stock, at a conversion price of $2.13 per share. In addition, on March 1, 2019, the holders of $1,500,000 in aggregate principal amount of Convertible sold their Convertible Notes at face value plus accrued and unpaid interest through March 1, 2019 to SK Energy (the “Convertible Note Sale”). Holders which sold their Convertible Notes pursuant to the Convertible Note Sale to SK Energy, including an executive officer of SK Energy ($200,000 in principal amount of Convertible Notes); a trust affiliated with John J. Scelfo, a director of the Company ($500,000 in principal amount of Convertible Notes); an entity affiliated with Ivar Siem, a director of the Company, and J. Douglas Schick the President of the Company ($500,000 in principal amount of Convertible Notes); and Harold Douglas Evans, a director of the Company ($200,000 in principal amount of Convertible Notes). Immediately following the effectiveness of the SK Energy Note Amendment and Convertible Note Sale, on March 1, 2019, SK Energy and the Unaffiliated Holder elected to convert all $31,300,000 of outstanding principal and an aggregate of $1,460,000 of accrued interest under the June 2018 SK Energy Note, SK Energy’s $22 million Convertible Note and all other Convertible Notes, into common stock of the Company at a conversion price of $2.13 per share (the “Conversion Price” and the “Conversions”) as set forth in the June 2018 SK Energy Note, as amended, and the Convertible Notes (including SK Energy’s $22 million Convertible Note (collectively, the “Notes”), into an aggregate of 15,381,605 shares of restricted common stock of the Company (the “Conversion Shares”).

8. ASSET RETIREMENT OBLIGATIONS

8. ASSET RETIREMENT OBLIGATIONS	3 Months Ended
	Mar. 31, 2019
Asset Retirement Obligations
ASSET RETIREMENT OBLIGATIONS	Activity related to the Company’s asset retirement obligations is as follows (in thousands): Three Months Ended March 31, 2019 Balance at the beginning of the period (1) $ 2,571 Accretion expense 106 Obligations incurred for acquisition 33 Changes in estimates (11 ) Balance at end of period (2) $ 2,699 (1) Includes $119,000 of current asset retirement obligations included in accrued liabilities at December 31, 2018. (2) Includes $124,000 of current asset retirement obligations included in accrued liabilities at March 31, 2019.

9. COMMITMENTS AND CONTINGENCIE

9. COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Office Lease Change in Accounting Policy. “Leases (Topic 842)” and Leases (Topic 842): Targeted Improvements” In June 2018, the Company assumed the lease for its corporate office space located in Houston, Texas from American Resources, Inc., an entity beneficially owned and controlled by Ivar Siem, a director of the Company, and J. Douglas Schick, the Company’s President. The term of the lease ends on August 31, 2019, and the obligation for the remainder of this lease is $55,000. The Company also leased space for its former corporate headquarters in Danville, California that was scheduled to expire July 31, 2019, but was terminated in January 2019 without penalty or other amounts due. The obligation for this lease through January 2019 was $5,000. In February 2019, the Company entered into a six-month lease agreement for 187 square feet of new office space located in Danville, California for the Company’s general counsel. The monthly rent is $1,000, and the Company paid a $1,000 security deposit. The total current obligation for the remainder of this lease through July 2019 is $5,000. For the three months ended March 31, 2019 and 2018, the Company incurred lease expense of $23,000 and $14,000, respectively, for the combined leases. Leasehold Drilling Commitments The Company’s oil and gas leasehold acreage is subject to expiration of leases if the Company does not drill and hold such acreage by production or otherwise exercises options to extend such leases, if available, in exchange for payment of additional cash consideration. In the D-J Basin Asset, 49 net acres expire during the remainder of 2019, and 170 net acres expire thereafter (net to our direct ownership interest only). In the Permian Basin Asset, no net acres are due to expire in 2019 and 2,886 net acres expire thereafter (net to our direct ownership interest only). For the Manzano acquisition (the assets acquired on February 1, 2019), 6,981 net acres expire during the remainder of 2019 and 6,526 net acres expire thereafter (net to our direct ownership interest only). The Company plans to hold significantly all of this acreage through a program of drilling and completing producing wells. If the Company is not able to drill and complete a well before lease expiration, the Company may seek to extend leases where able. Other Commitments Although the Company may, from time to time, be involved in litigation and claims arising out of its operations in the normal course of business, the Company is not currently a party to any material legal proceeding. In addition, the Company is not aware of any material legal or governmental proceedings against it or contemplated to be brought against it. As part of its regular operations, the Company may become party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning its commercial operations, products, employees and other matters. Although the Company provides no assurance about the outcome of these or any other pending legal and administrative proceedings and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by insurance, will not have a material adverse effect on the Company’s financial condition or results of operations.

10. SHAREHOLDERS' EQUITY

10. SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
SHAREHOLDERS' EQUITY	Preferred Stock The Company is authorized to issue 100,000,000 shares of preferred stock with a par value of $0.001 per share, of which 25,000,000 shares have been designated “Series A” preferred stock. As of March 31, 2019 and December 31, 2018, there were no shares of the Company’s Series A Convertible Preferred Stock outstanding, respectively. Common Stock At March 31, 2019, the Company was authorized to issue 200,000,000 shares of its common stock with a par value of $0.001 per share. The following summarizes the Company’s common stock activity during the three-month period ended March 31, 2019 (amounts in thousands, except share and per share amounts): Common Shares Amount Per Share Issued and Outstanding Shares Balance at December 31, 2018 15,808,445 January 2019 Note Conversion* $ 15,126 $ 1.50 10,083,819 October 2018 Note Conversion* 7,187 1.79 4,014,959 SK Energy Note and August 2018 Notes Conversions* 32,763 2.13 15,381,605 Balance at March 31, 2019 45,288,828 *See Note 7 above for further discussion of the Note Conversions. Stock-based compensation expense recorded related to the vesting of restricted stock for the three months ended March 31, 2019 and 2018 was $186,000 and $166,000, respectively. The remaining unamortized stock-based compensation expense at March 31, 2019 related to restricted stock was $781,000.

11. STOCK OPTIONS AND WARRANTS

11. STOCK OPTIONS AND WARRANTS	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
STOCK OPTIONS AND WARRANTS	Blast 2003 Stock Option Plan and 2009 Stock Incentive Plan Prior to June 2005, the Company was known as Blast Energy Services, Inc. (“Blast”). Under Blast’s 2003 Stock Option Plan and 2009 Stock Incentive Plan, options to acquire 298 shares of common stock were granted and remained outstanding and exercisable as of March 31, 2018 and December 31, 2018, respectively. No new options were issued under these plans in 2019 or 2018. 2012 Incentive Plan On July 27, 2012, the shareholders of the Company approved the 2012 Equity Incentive Plan (the “2012 Incentive Plan”), which was previously approved by the Board of Directors on June 27, 2012, and authorizes the issuance of various forms of stock-based awards, including incentive or non-qualified options, restricted stock awards, performance shares and other securities as described in greater detail in the 2012 Incentive Plan, to the Company’s employees, officers, directors and consultants. The 2012 Incentive Plan was amended on June 27, 2014, October 7, 2015 and December 28, 2016, December 28, 2017 and September 27, 2018 to increase by 500,000, 300,000, 500,000, 1,500,000, and 3,000,000 (to 6,000,000 currently), respectively, the number of shares of common stock reserved for issuance under the 2012 Incentive Plan. A total of 6,000,000 shares of common stock are eligible to be issued under the 2012 Incentive Plan as of March 31, 2019, of which 3,200,130 shares have been issued as restricted stock, 768,250 shares are subject to issuance upon exercise of issued and outstanding options, and 2,031,620 shares remain available for future issuance as of March 31, 2019. PEDCO 2012 Equity Incentive Plan As a result of the July 27, 2012 merger by and between the Company, Blast Acquisition Corp., a wholly-owned Nevada subsidiary of the Company (“MergerCo”), and Pacific Energy Development Corp., a privately-held Nevada corporation (“PEDCO”) pursuant to which MergerCo was merged with and into PEDCO, with PEDCO continuing as the surviving entity and becoming a wholly-owned subsidiary of the Company, in a transaction structured to qualify as a tax-free reorganization (the “Merger”), the Company assumed the PEDCO 2012 Equity Incentive Plan (the “PEDCO Incentive Plan”), which was adopted by PEDCO on February 9, 2012. The PEDCO Incentive Plan authorized PEDCO to issue an aggregate of 100,000 shares of common stock in the form of restricted shares, incentive stock options, non-qualified stock options, share appreciation rights, performance shares, and performance units under the PEDCO Incentive Plan. As of March 31, 2019, options to purchase an aggregate of 31,016 shares of the Company’s common stock and 55,168 shares of the Company’s restricted common stock have been granted under this plan (all of which were granted by PEDCO prior to the closing of the merger with the Company, with such grants being assumed by the Company and remaining subject to the PEDCO Incentive Plan following the consummation of the merger). The Company does not plan to grant any additional awards under the PEDCO Incentive Plan. Options During the three months ended March 31, 2019, no options were granted, exercised or expired. As of March 31, 2019, a total of 890,232 stock options are outstanding, with exercise prices ranging from $0.3088 to $302.40 per share and a weighted-average exercise price of $3.26 per share. Of the total amount of stock options outstanding, 595,232 are exercisable as of March 31, 2019, with a weighted-average exercise price of $4.06 per share During the three months ended March 31, 2019 and 2018, the Company recognized stock option expense of $113,000 and $17,000, respectively. The remaining amount of unamortized stock options expense at March 31, 2019, was $207,000. The intrinsic value of outstanding and exercisable options at March 31, 2019 and December 31, 2018 was $448,000 and $36,000, respectively. Warrants During the three months ended March 31, 2019, no warrants were granted or exercised, and warrants to purchase 100,000 shares of common stock expired. The intrinsic value of outstanding, as well as exercisable, warrants at March 31, 2019 and December 31, 2018, was $536,000 compared to $65,000, respectively. Warrant activity during the three months ended March 31, 2019 was: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Term (Years) Outstanding at December 31, 2018 1,216,686 $ 7.44 1.4 Expired/Cancelled (100,000 ) $ 25.00 Outstanding at March 31, 2019 1,116,686 $ 4.69 0.6 Exercisable at March 31, 2019

12. RELATED PARTY TRANSACTIONS

12. RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	The following table reflects the related party amounts for SK Energy, Directors and Officers included in the balance sheets of the period indicated (in thousands): March 31, December 31 2019 2018 Long-term accrued expenses $ - $ 943 Long-term notes payable – subordinated - 30,200 Long-term notes payable, net of discount of $-0- and $161, respectively - 7,694 Total related party liabilities $ - $ 38,837 See Note 7 above for further discussion of the debt conversions and subsequent retirement of all related party debt.

13. INCOME TAXES

13. INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	The Company has estimated that its effective tax rate for U.S. purposes will be zero for the 2019 and 2018 fiscal years as a result of net losses and a full valuation allowance against the net deferred tax assets. Consequently, the Company has recorded no provision or benefit for income taxes for the three months ended March 31, 2019 and 2018.

14. SUBSEQUENT EVENTS

14. SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Effective April 1, 2019, the Company issued 60,056 total shares of common stock upon the cashless exercise of two warrants to purchase an aggregate of 596,280 shares of common stock with an exercise price of $2.50 per share, based on a current market value of $2.78 per share, under the terms of each warrant. In April 2019, restricted stock awards were granted to three new employees and one consultant an aggregate of 160,000 shares of the Company’s common stock, under the Company’s Amended and Restated 2012 Equity Incentive Plan. The grant for a total of 50,000 of the restricted stock awards vest as follows: 100% on the one-year anniversary of the grant date, subject to the recipient’s continued service with the Company. These shares have a total fair value of $135,000 based on the market price on the issuance date. The grants for 110,000 shares of restricted stock vest as follows: 50% on the one-year anniversary of the grant date and 50% on the second-year anniversary of the grant date, subject to the recipient’s continued service with the Company. These shares have a total fair value of $253,000 based on the market price on the issuance date.

3. SUMMARY OF SIGNIFICANT ACC_2

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Revenue Recognition. Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases (Topic 842)” Leases (Topic 842): Targeted Improvements” In addition, the Company elected practical expedients provided by the new standard whereby, the Company has elected to not reassess its prior conclusions about lease identification, lease classification, and initial direct costs and to retain off-balance sheet treatment of short-term leases (i.e., 12 months or less and does not contain a purchase option that the Company is reasonably certain to exercise). As a result of the short-term expedient election, the Company has no leases that require the recording of a net lease asset and lease liability on the Company’s consolidated balance sheet or have a material impact on consolidated earnings or cash flows as of March 31, 2019. Moving forward, the Company will evaluate any new lease commitments for application of Topic 842. Compensation-Stock Compensation. In June 2018, the FASB issued ASU 2018-07, “Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting”.
Recently Issued Accounting Pronouncements	The Company does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows.
Subsequent Events	The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

4. REVENUE FROM CONTRACTS WIT_2

4. REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue From Contracts With Customers Tables Abstract
Revenue by significant product type	March 31, 2019 March 31, 2018 Oil sales $ 1,453 $ 549 Natural gas sales 109 49 Natural gas liquids sales 6 46 Total revenue from customers $ 1,568 $ 644

5. OIL AND GAS PROPERTIES (Tabl

5. OIL AND GAS PROPERTIES (Tables)	3 Months Ended
	Mar. 31, 2019
Oil and Gas Property [Abstract]
Oil and gas interests	Balance at December 31, Balance at March 31, 2018 Additions Disposals Transfers 2019 Oil and gas properties, subject to amortization $ 70,803 $ 13,635 $ (255 ) $ 6,596 $ 90,779 Oil and gas properties, not subject to amortization 8,516 - - (6,596 ) 1,920 Asset retirement costs 2,188 22 - - 2,210 Accumulated depreciation and depletion (21,045 ) (2,140 ) - - (23,185 ) Total oil and gas assets $ 60,462 $ 11,517 $ (255 ) $ - $ 71,724

7. NOTES PAYABLE (Tables)

7. NOTES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt restructuring	March 31, December 31, 2019 2018 Notes Payable - Subordinated $ - $ 400 Notes Payable - Subordinated Related Party - 30,200 Notes Payable - Related Party - 7,855 - 38,455 Unamortized Debt Discount - (161 ) Total Notes Payable $ - $ 38,294

8. ASSET RETIREMENT OBLIGATIO_2

8. ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Asset Retirement Obligations Tables Abstract
Asset retirement obligation	Three Months Ended March 31, 2019 Balance at the beginning of the period (1) $ 2,571 Accretion expense 106 Obligations incurred for acquisition 33 Changes in estimates (11 ) Balance at end of period (2) $ 2,699

10. SHAREHOLDERS' EQUITY (DEFIC

10. SHAREHOLDERS' EQUITY (DEFICIT) (Tables)	3 Months Ended
	Mar. 31, 2019
Shareholders Equity Deficit
Schedule of stock option and warrant activity	Common Shares Amount Per Share Issued and Outstanding Shares Balance at December 31, 2018 15,808,445 January 2019 Note Conversion* $ 15,126 $ 1.50 10,083,819 October 2018 Note Conversion* 7,187 1.79 4,014,959 SK Energy Note and August 2018 Notes Conversions* 32,763 2.13 15,381,605 Balance at March 31, 2019 45,288,828

11. STOCK OPTIONS AND WARRANTS

11. STOCK OPTIONS AND WARRANTS (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of stock option and warrant activity	Common Shares Amount Per Share Issued and Outstanding Shares Balance at December 31, 2018 15,808,445 January 2019 Note Conversion* $ 15,126 $ 1.50 10,083,819 October 2018 Note Conversion* 7,187 1.79 4,014,959 SK Energy Note and August 2018 Notes Conversions* 32,763 2.13 15,381,605 Balance at March 31, 2019 45,288,828
Warrant
Schedule of stock option and warrant activity	Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Term (Years) Outstanding at December 31, 2018 1,216,686 $ 7.44 1.4 Expired/Cancelled (100,000 ) $ 25.00 Outstanding at March 31, 2019 1,116,686 $ 4.69 0.6 Exercisable at March 31, 2019

12. RELATED PARTY TRANSACTIONS

12. RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Schedule of related party transactions	March 31, December 31 2019 2018 Long-term accrued expenses $ - $ 943 Long-term notes payable – subordinated - 30,200 Long-term notes payable, net of discount of $-0- and $161, respectively - 7,694 Total related party liabilities $ - $ 38,837

4. REVENUE FROM CONTRACTS WIT_3

4. REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Total revenue from customers	$ 1,568	$ 644
Oil Sales
Total revenue from customers	1,453	549
Natural Gas Sales
Total revenue from customers	109	49
Natural Gas Liquids Sales
Total revenue from customers	$ 6	$ 46

5. OIL AND GAS PROPERTIES (Deta

5. OIL AND GAS PROPERTIES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Oil and gas properties, subject to amortization	$ 90,779	$ 70,803
Oil and gas properties, not subject to amortization	1,920	8,516
Asset retirement costs	2,210	2,188
Accumulated depreciation, depletion and impairment	(23,185)	(21,045)
Total oil and gas assets	71,724	$ 60,462
Additions [Member]
Oil and gas properties, subject to amortization	13,635
Oil and gas properties, not subject to amortization	0
Asset retirement costs	22
Accumulated depreciation, depletion and impairment	(2,140)
Total oil and gas assets	11,517
Disposals [Member]
Oil and gas properties, subject to amortization	(255)
Oil and gas properties, not subject to amortization	0
Asset retirement costs	0
Accumulated depreciation, depletion and impairment	0
Total oil and gas assets	(255)
Transfers [Member]
Oil and gas properties, subject to amortization	6,596
Oil and gas properties, not subject to amortization	(6,596)
Asset retirement costs	0
Accumulated depreciation, depletion and impairment	0
Total oil and gas assets	$ 0

5. OIL AND GAS PROPERTIES (De_2

5. OIL AND GAS PROPERTIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Oil And Gas Properties
Depletion	$ 2,140	$ 563

7. NOTES PAYABLE (Details)

7. NOTES PAYABLE (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Notes Payable	$ 0	$ 38,455
Unamortized Debt Discount	0	(161)
Notes Payable	0	38,294
Note 1
Notes Payable	0	400
Note 2
Notes Payable	0	30,200
Note 3
Notes Payable	$ 0	$ 7,855

8. ASSET RETIREMENT OBLIGATIO_3

8. ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Asset Retirement Obligations Details Abstract
Balance at the beginning of the period	$ 2,571
Accretion expense	106
Obligations incurred for acquisition	33
Changes in estimates	(11)	$ 0
Balance at end of period	$ 2,699

10. SHAREHOLDERS' EQUITY (Detai

10. SHAREHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Total [Member]
Common stock shares	45,288,828	15,808,445
Stock Option 1 [Member]
Exercise Price	$ 1.50
Amounts	$ 15,126
Common stock shares	10,083,819
Stock Option 2 [Member]
Exercise Price	$ 1.79
Amounts	$ 7,187
Common stock shares	4,014,959
Stock Option 3 [Member]
Exercise Price	$ 2.13
Amounts	$ 32,763
Common stock shares	15,381,605

10. SHAREHOLDERS' EQUITY (Det_2

10. SHAREHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Equity [Abstract]
Preferred stock shares authorized	100,000,000
Preferred stock shares par value	$ 0.001
Preferred stock shares outstanding	0
Common stock, par value	$ 0.001		$ 0.001
Common stock, shares authorized	200,000,000		200,000,000
Common stock, shares outstanding	45,288,828		15,808,445
Stock compensation expense recorded related to restricted stock	$ 186	$ 166
Unamortized stock compensation expense	$ 781

11. STOCK OPTIONS AND WARRANT_2

11. STOCK OPTIONS AND WARRANTS (Details) - Warrant	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Shares
Number of Options Outstanding, Beginning | shares	1,216,686
Number of Options Forfeited and cancelled | shares	(100,000)
Number of Options Outstanding, Ending | shares	1,116,686
Weighted Average Exercise Price
Weighted Average Exercise Price Outstanding, Beginning | $ / shares	$ 7.44
Weighted Average Exercise Price Forfeited and cancelled | $ / shares	25
Weighted Average Exercise Price Outstanding, Ending | $ / shares	$ 4.69
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life (in years) Outstanding, Beginning	1 year 4 months 24 days
Weighted Average Remaining Contractual Life (in years) Outstanding, Ending	7 months 6 days

11. STOCK OPTIONS AND WARRANT_3

11. STOCK OPTIONS AND WARRANTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Option
Recognized stock option based compensation expense	$ 113	$ 17
Unamortized stock options expense	207
Intrinsic value of options outstanding	448		$ 36
Warrant
Intrinsic value of options outstanding	$ 536		$ 65
2012 Incentive Plan
Common stock authorized to issue	6,000,000
Restricted stock issued	3,200,130
Shares issued upon exercise	768,250
Shares remain available for future issuancce	2,031,620

12. RELATED PARTY TRANSACTION_2

12. RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Long-term accrued expenses	$ 0	$ 943
Long-term notes payable - subordinated	0	30,200
Long-term notes payable, net of discount of $-0- and $161, respectively	0	7,694
Total related party liabilities	$ 0	$ 38,837