Camber Energy (CEIN) 10-Q 14 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Feb. 14, 2020
Document And Entity Information
Entity Registrant Name	CAMBER ENERGY, INC.
Entity Central Index Key	0001309082
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity File Number	001-32508
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NV
Entity Smaller Reporting Company	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		5,000,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Current Assets
Cash	$ 2,253,739	$ 7,778,723
Accounts Receivable, Net of Allowance	176,038	129,037
Other Current Assets		263,205
Total Current Assets	2,429,777	8,170,965
Property and Equipment
Oil and Gas Properties - Subject to Amortization	50,504,527	50,528,953
Oil and Gas Properties - Not Subject to Amortization	28,016,989	28,016,989
Other Property and Equipment	1,570	1,570
Total Property and Equipment	78,523,086	78,547,512
Accumulated Depletion, Depreciation, Amortization and Impairment	(78,346,620)	(78,334,324)
Total Property and Equipment, Net	176,466	213,188
Notes Receivable	2,339,719
Other Assets	155,053	198,519
Total Assets	5,101,015	8,582,672
Current Liabilities
Accounts Payable	1,427,022	1,521,329
Common Stock Payable	10,000	303,340
Accrued Expenses	296,843	276,133
Asset Retirement Obligation - Current	239,167
Current Income Taxes Payable	3,000	3,000
Total Current Liabilities	1,976,032	2,103,802
Asset Retirement Obligation	42,137	303,809
Derivative Liability		5
Total Liabilities	2,018,169	2,407,616
Commitments and Contingencies
Stockholders' Equity
Common Stock, 5,000,000 Shares Authorized of $0.001 Par Value, 4,709,167 and 13,441 Shares Issued and Outstanding, respectively	4,709	13
Additional Paid-in Capital	146,890,176	152,251,623
Stock Dividends Distributable	13,804,668	8,141,843
Accumulated Deficit	(157,616,709)	(154,218,469)
Total Stockholders' Equity	3,082,846	6,175,056
Total Liabilities and Stockholders' Equity	5,101,015	8,582,672
Series C Preferred Stock [Member]
Stockholders' Equity
Preferred stock	2	2
Total Stockholders' Equity	$ 2	2
Series B Preferred Stock [Member]
Stockholders' Equity
Preferred stock		44
Total Stockholders' Equity		$ 44

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, authorized	5,000,000	5,000,000
Common Stock, issued	4,709,167	13,441
Common Stock, outstanding	4,709,167	13,441
Series D Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	50,000	50,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Series F Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	16,750	16,750
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Series E Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	1,000,000	1,000,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Series A Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	2,000	2,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Series C Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	5,000	5,000
Preferred Stock, issued	2,294	2,305
Preferred Stock, outstanding	2,294	2,305
Preferred Stock, liquidation preference	$ 56,122,710	$ 56,122,710
Series B Preferred Stock [Member]
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, authorized	600,000	600,000
Preferred Stock, issued	0	44,000
Preferred Stock, outstanding	0	44,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Operating Revenues
Total Revenues	$ 94,115	$ 127,937	$ 308,219	$ 2,632,099
Operating Expenses
Lease Operating Expenses	72,955	441,312	384,995	2,600,353
Severance and Property Taxes	4,081	5,937	10,686	133,192
Depreciation, Depletion, Amortization, and Accretion	7,382	1,026	15,215	464,952
Impairment of Oil and Gas Properties		548,819		1,304,785
General and Administrative	1,146,374	677,566	3,418,849	3,512,816
Gain on Sales of Assets				(25,808,246)
Total Operating Expenses	1,230,792	1,674,660	3,829,745	(17,792,148)
Operating Income (Loss)	(1,136,677)	(1,546,723)	(3,521,526)	20,424,247
Other Expense (Income)
Interest Expense	9,750	202,669	14,771	2,436,776
Other (Income), Net	(22,861)	(163,308)	(138,057)	(142,714)
Total Other (Income) Expenses	(13,111)	39,361	(123,286)	2,294,062
Net Income (Loss) Before Discontinued Operations	(1,123,566)	(1,586,084)	(3,398,240)	18,130,185
Loss from Discontinued Operations	(710,112)
Net Income (Loss)	$ (1,833,678)	$ (1,586,084)	$ (3,398,240)	$ 18,130,185
Basic
Continuing Operation (in dollars per share)	$ (1.03)	$ (800.49)	$ (7.84)	$ 7,982.41
Discontinued Operations (in dollars per share)	(.24)
Total (in dollars per share)	(1.27)	(800.49)	(7.84)	7,982.41
Diluted
Continuing Operations (in dollars per share)	(1.03)	(800.49)	(7.84)	529.23
Discontinued Operations (in dollars per share)	(0.24)
Total (in dollars per share)	$ (1.27)	$ (800.49)	$ (7.84)	$ 529.23
Weighted Average Number of Common Shares Outstanding
Basic (in shares)	2,937,254	4,000	1,155,285	1,869
Diluted (in shares)	2,937,254	4,000	1,155,285	28,190
Oil Sales [Member]
Operating Revenues
Total Revenues	$ 69,092	$ 73,301	$ 229,577	$ 45,532
Natural Gas Sales [Member]
Operating Revenues
Total Revenues	9,871	13,114	29,418	753,057
Natural Gas Liquid Sales [Member]
Operating Revenues
Total Revenues	$ 15,152	$ 41,522	$ 49,224	$ 1,423,720

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)	Series E Preferred Stock [Member]	Series F Preferred Stock [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Stock Divided Distributable [Member]	Accumulated Deficit [Member]	Total
Balance at beginning at Mar. 31, 2018			$ 409	$ 1		$ 141,429,941	$ 2,467,910	$ (170,861,622)	$ (26,963,361)
Balance at beginning (in Shares) at Mar. 31, 2018			408,508	1,132	184
Common Shares issued for:
Conversion of Series C Preferred Stock					$ 1	(1)
Conversion of Series C Preferred Stock (in shares)				(251)	332
Payment of Series B Dividend					$ 1	1,348	(1,348)
Conversion of Debenture (in shares)					5
Warrants - Abeyance (in shares)					10
Issuance of Series C Preferred Stock for Cash Proceeds						2,000,000			2,000,000
Issuance of Series C Preferred Stock for Cash Proceeds (in shares)				210
Stock Dividends to be Issued						(698,996)	698,996
Share-Based Compensation						343,730			343,730
Net Income (Loss)								(3,512,097)	(3,512,097)
Balance at end at Jun. 30, 2018			$ 409	$ 1	$ 1	143,076,022	3,165,558	(174,373,719)	(28,131,728)
Balance at end (in Shares) at Jun. 30, 2018			408,508	1,091	532
Balance at beginning at Mar. 31, 2018			$ 409	$ 1		141,429,941	2,467,910	(170,861,622)	(26,963,361)
Balance at beginning (in Shares) at Mar. 31, 2018			408,508	1,132	184
Common Shares issued for:
Stock Dividends to be Issued						(3,211,064)
Net Income (Loss)									18,130,185
Balance at end at Dec. 31, 2018			$ 44	$ 2	$ 5	154,682,769	5,676,275	(152,731,437)	7,267,658
Balance at end (in Shares) at Dec. 31, 2018			44,000	2,305	5,418
Balance at beginning at Jun. 30, 2018			$ 409	$ 1	$ 1	143,076,022	3,165,558	(174,373,719)	(28,131,728)
Balance at beginning (in Shares) at Jun. 30, 2018			408,508	1,091	532
Common Shares issued for:
Conversion of Series C Preferred Stock					$ 1	(1)
Conversion of Series C Preferred Stock (in shares)				(143)	1,837
Payment of Series B Dividend						882	(882)
Payment of Series B Dividend (in shares)					1
Issuance of Series C Preferred Stock for Cash Proceeds				$ 1		6,999,999			7,000,000
Issuance of Series C Preferred Stock for Cash Proceeds (in shares)				735
Stock Dividends to be Issued						(896,182)	896,182
Payment for Consulting Fees						200,000			200,000
Net Income (Loss)								23,228,366	23,228,366
Balance at end at Sep. 30, 2018			$ 409	$ 2	$ 2	149,380,720	4,060,858	(151,145,353)	2,296,638
Balance at end (in Shares) at Sep. 30, 2018			408,508	1,683	2,371
Common Shares issued for:
Conversion of Series C Preferred Stock					$ 2	(2)
Conversion of Series C Preferred Stock (in shares)				(10)	2,234
Payment of Series B Dividend						469	(469)
Payment of Series B Dividend (in shares)					10
Conversion of Series B Preferred Stock			$ (365)			365
Conversion of Series B Preferred Stock (in shares)			(364,508)		3
Conversion of Debenture					$ 1	917,103			917,104
Conversion of Debenture (in shares)					800
Issuance of Series C Preferred Stock for Cash Proceeds						6,000,000			6,000,000
Issuance of Series C Preferred Stock for Cash Proceeds (in shares)				632
Stock Dividends to be Issued						(1,615,886)	1,615,886
Net Income (Loss)								(1,586,084)	(1,586,084)
Balance at end at Dec. 31, 2018			$ 44	$ 2	$ 5	154,682,769	5,676,275	(152,731,437)	7,267,658
Balance at end (in Shares) at Dec. 31, 2018			44,000	2,305	5,418
Balance at beginning at Mar. 31, 2019			$ 44	$ 2	$ 13	152,251,623	8,141,843	(154,218,469)	6,175,056
Balance at beginning (in Shares) at Mar. 31, 2019			44,000	2,305	13,441
Common Shares issued for:
Payment of Series B Dividend						3	(3)
Conversion of Series B Preferred Stock			$ (44)			44
Conversion of Series B Preferred Stock (in shares)			(44,000)
Conversion of Debenture					$ 25	(25)
Conversion of Debenture (in shares)					25,008
Stock Dividends to be Issued						(1,878,055)	1,878,055
Payment for Consulting Fees					$ 1	303,339			303,340
Payment for Consulting Fees (in shares)					600
Rounding Adjustment for Split (in shares)					4
Net Income (Loss)								(1,287,598)	(1,287,598)
Balance at end at Jun. 30, 2019				$ 2	$ 39	150,676,929	10,019,895	(155,506,067)	5,190,798
Balance at end (in Shares) at Jun. 30, 2019				2,305	39,053
Balance at beginning at Mar. 31, 2019			$ 44	$ 2	$ 13	152,251,623	8,141,843	(154,218,469)	6,175,056
Balance at beginning (in Shares) at Mar. 31, 2019			44,000	2,305	13,441
Common Shares issued for:
Stock Dividends to be Issued						(5,662,828)
Net Income (Loss)									(3,398,240)
Balance at end at Dec. 31, 2019				$ 2	$ 4,709	146,890,176	13,804,668	(157,616,709)	3,082,846
Balance at end (in Shares) at Dec. 31, 2019				2,294	4,709,167
Balance at beginning at Jun. 30, 2019				$ 2	$ 39	150,676,929	10,019,895	(155,506,067)	5,190,798
Balance at beginning (in Shares) at Jun. 30, 2019				2,305	39,053
Common Shares issued for:
Conversion of Series C Preferred Stock					$ 1,005	(1,005)
Conversion of Series C Preferred Stock (in shares)				(3)	1,004,450
Cash Paid for Settlement of Series B Preferred Stock Warrants						(25,000)			(25,000)
Conversion of Debenture					$ 4	(4)
Conversion of Debenture (in shares)					4,065
Stock Dividends to be Issued						(1,893,886)	1,893,886
Payment for Consulting Fees						27,690			27,690
Payment for Consulting Fees (in shares)					80
Rounding Adjustment for Split					$ 1	(1)
Rounding Adjustment for Split (in shares)					884
Issuance of Series E and F Preferred Stock	$ 1,870,100	$ 1,417,000
Issuance of Series E and F Preferred Stock (in shares)	1,000,000	16,750
Net Income (Loss)								(276,964)	(276,964)
Balance at end at Sep. 30, 2019	$ 1,870,100	$ 1,417,000		$ 2	$ 1,049	148,784,723	11,913,781	(155,783,031)	4,916,524
Balance at end (in Shares) at Sep. 30, 2019	1,000,000	16,750		2,302	1,048,532
Common Shares issued for:
Conversion of Series C Preferred Stock					$ 3,604	(3,604)
Conversion of Series C Preferred Stock (in shares)				(8)	3,604,160
Change in Valuation of Series E and F Preferred Stock	$ (4,035,000)	$ 1,017,000
Stock Dividends to be Issued						(1,890,887)	1,890,887
Rounding Adjustment for Split					$ 56	(56)
Rounding Adjustment for Split (in shares)					56,475
Redemption of Series E and F Preferred Stock	$ (14,666,000)	$ (2,434,000)
Redemption of Series E and F Preferred Stock (in shares)	(1,000,000)	(16,750)
Net Income (Loss)								(1,833,678)	(1,833,678)
Balance at end at Dec. 31, 2019				$ 2	$ 4,709	$ 146,890,176	$ 13,804,668	$ (157,616,709)	$ 3,082,846
Balance at end (in Shares) at Dec. 31, 2019				2,294	4,709,167

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net Income (Loss)	$ (3,398,240)	$ 18,130,185
Net Income (Loss) from Continuing Operations	(3,398,240)	18,130,185
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation, Depletion, Amortization and Accretion	15,215	463,926
Impairment of Oil and Gas Properties		1,304,785
Bad Debt Expense	17,694
Gain on Sale of Oil and Gas Properties		(25,808,246)
Share-Based Compensation	37,690	343,629
Litigation Settlement - PetroGlobe	204,842
Change in fair value of derivatives	(5)
Amortization of Discount on Notes		1,499,647
Changes in operating assets and liabilities:
Accounts Receivable	(64,695)	576,320
Other Current Assets	263,205	(3,444)
Accounts Payable and Accrued Expenses	(279,437)	(696,281)
Cash Used in Operating Activities from Continuing operations	(3,203,731)	(4,188,452)
Cash Provided by Operating Activities from Discontinued Operations	1,212,391
Cash Used in Operating Activities	(1,991,340)	(4,188,452)
Cash Flows from Investing Activities
Cash Acquired in Lineal Acquisition	449,763
Cash Disposed of in Connection with Lineal Redemption	(2,101,879)
Cash loaned to Lineal Holdings	(2,339,719)
Cash Paid for Fixed Asset Additions		(2,187,302)
Cash Received (Paid) for Deposits	43,466	(141,009)
Cash Used in Investing activities from Continuing Operations	(3,948,369)	(2,328,311)
Cash Used in Investing Activities from Discontinued Operations	(692,650)
Net Cash Used in Investing Activities	(4,641,019)	(2,328,311)
Cash Flows from Financing Activities
Cash Paid for Settlement of Series B Preferred Stock Warrants	(25,000)
Proceeds from Issuance of Series C Preferred Stock		15,000,000
Cash Used in Financing Activities from continuing operations	(25,000)	15,000,000
Cash Provided by Financing Activities from Discontinued Operations	1,132,375
Cash Provided by Financing Activities	1,107,375	15,000,000
(Decrease) Increase in Cash and Restricted Cash	(5,524,984)	8,483,237
Cash and Restricted Cash at Beginning of the Period	7,778,723	789,151
Cash and Restricted Cash at End of the Period	$ 2,253,739	$ 9,272,388

GENERAL

GENERAL	9 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1 – GENERAL Camber Energy, Inc. (“ Camber Company Lineal On July 8, 2019, the Company acquired Lineal pursuant to the terms of an Agreement and Plan of Merger dated as of the same date (the “ Lineal Plan of Merger Lineal Merger Merger Sub Lineal Members Series E Preferred Stock Series F Preferred Stock Evercon On December 31, 2019, the Company entered into a Preferred Stock Redemption Agreement (the “ Redemption Agreement Preferred Holders Prior to the acquisition of Lineal, the Company sold a significant portion of its oil and gas production assets in Oklahoma to N&B Energy, LLC (“ N&B Energy Camber retained its assets in Glasscock County and operates in Hutchinson County, Texas. On January 31, 2020, the Company entered into a Compromise Settlement Agreement (the “ Settlement Agreement PetroGlobe Signal Petrolia PGCO CRTC The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in (a) Camber’s annual report filed with the SEC on Form 10-K for the year ended March 31, 2019; and (b) as relates to Lineal, the consolidated audited financial statements of Lineal and its subsidiaries, contained in Exhibit 99.1 On March 1, 2018, the Company filed a Certificate of Amendment to the Company’s Articles of Incorporation with the Secretary of State of Nevada to affect a 1-for-25 reverse stock split of all outstanding common stock shares of the Company. The reverse stock split was effective on March 5, 2018. The effect of the reverse stock split was to combine every 25 shares of outstanding common stock into one new share, with no change in authorized shares or par value per share. On December 20, 2018, the Company filed a Certificate of Change with the Secretary of State of Nevada to affect another 1-for-25 reverse stock split of the Company’s (a) authorized shares of common stock (from 500,000,000 shares to 20,000,000 shares); and (b) issued and outstanding shares of common stock. The reverse stock split was effective on December 24, 2018. The effect of the reverse stock split was to combine every 25 shares of outstanding common stock into one new share, with a proportionate 1-for-25 reduction in the Company’s authorized shares of common stock, but no change in the par value per share of the common stock. Effective on April 10, 2019, the Company filed, with the Secretary of State of Nevada, a Certificate of Amendment to the Company’s Articles of Incorporation to increase the number of the Company’s authorized shares of common stock, $0.001 per value per share, from 20,000,000 shares to 250,000,000 shares. On July 3, 2019, the Company filed a Certificate of Amendment to the Company’s Articles of Incorporation with the Secretary of State of Nevada to affect another 1-for-25 reverse stock split of all outstanding common stock shares of the Company. The reverse stock split was effective on July 8, 2019. The effect of the reverse stock split was to combine every 25 shares of outstanding common stock into one new share, with no change in authorized shares (250,000,000 shares of common stock) or par value per share. On October 28, 2019, the Company filed a Certificate of Change with the Secretary of State of Nevada to affect a 1-for-50 reverse stock split of the Company’s (a) authorized shares of common stock (from 250,000,000 shares to 5,000,000 shares); and (b) issued and outstanding shares of common stock. The reverse stock split was effective on October 29, 2019. The effect of the reverse stock split was to combine every 50 shares of outstanding common stock into one new share, with a proportionate 1-for-50 reduction in the Company’s authorized shares of common stock, but with no change in the par value per share of the common stock. The result of the reverse stock split was to reduce, as of the effective date of the reverse stock split, the number of common stock shares outstanding from approximately 74.5 million shares to approximately 1.5 million shares (prior to rounding). Proportional adjustments were made to the conversion and exercise prices of the Company’s outstanding convertible preferred stock, warrants and stock options, and to the number of shares issued and issuable under the Company’s stock incentive plans in connection with each of the reverse splits described above. The reverse stock splits did not affect any stockholder’s ownership percentage of the Company’s common stock, except to the limited extent that the reverse stock splits resulted in any stockholder owning a fractional share. Fractional shares of common stock were rounded up to the nearest whole share based on each holder’s aggregate ownership of the Company. All issued and outstanding shares of common stock, conversion terms of preferred stock, options and warrants to purchase common stock and per share amounts contained in the financial statements, in accordance with SAB TOPIC 4C, have been retroactively adjusted to reflect the reverse splits for all periods presented.

LIQUIDITY AND GOING CONCERN CON

LIQUIDITY AND GOING CONCERN CONSIDERATIONS	9 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND GOING CONCERN CONSIDERATIONS	At December 31, 2019, the Company’s total current assets of $2.4 million exceeded its total current liabilities of approximately $2.0 million, resulting in working capital of $0.4 million, while at March 31, 2019, the Company’s total current assets of $8.2 million exceeded its total current liabilities of approximately $2.1 million, resulting in working capital of $6.1 million. The reduction from $6.1 million to $0.4 million is due to losses from continuing operations and costs incurred with the merger and ultimate divestiture of Lineal, including funds loaned to Lineal in connection with such divestiture. See also “ NOTE 10 – Merger Agreement and Divestiture The factors above raise substantial doubt about the Company's ability to continue to operate as a going concern for the twelve months following the issuance of these financial statements. The Company believes that it will not have sufficient liquidity to meet its operating costs unless it can raise new funding, which may be through the sale of debt or equity or unless it closes the Viking Merger (discussed below), which is scheduled to be closed by June 30, 2020, extendable up to December 31, 2020 under certain circumstances, the completion of which is the Company's current plan. There is no guarantee though that the Viking merger will be completed or other sources of funding be available. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company has no secured debt outstanding as of December 31, 2019. During the three and nine months ended December 31, 2019 and 2018, the Company sold 0 shares and 632 shares and 0 shares and 1,577 shares, respectively, of Series C Preferred Stock pursuant to the terms of an October 2017, October 2018 and November 2018 Stock Purchase Agreement, for total consideration of $0 and $6 million and $0 and $15 million, respectively. N&B Energy Asset Disposition Agreement On July 12, 2018, the Company entered into an Asset Purchase Agreement (as amended by the First Amendment to the Sale Agreement dated August 3, 2018 and the Second Amendment to Sale Agreement dated September 24, 2018, the “ Sale Agreement Azar Seay Disposed Assets IBC Bank Assumption Agreement On September 26, 2018, the Company entered into an Assumption Agreement (the “ Assumption Agreement CE Operating RAD2 Guarantors Pursuant to the Assumption Agreement, N&B Energy agreed to assume all of the Company’s liabilities and obligations owed to IBC Bank and IBC Bank approved the transactions contemplated by the Sale Agreement and the assumption by N&B Energy of all of the amounts and liabilities which the Company owed to IBC Bank (collectively, the “ IBC Obligations N&B Energy Sale Agreement Closing On September 26, 2018, the transactions contemplated by the Sale Agreement closed and N&B Energy assumed all of the IBC Obligations (pursuant to the Assumption Agreement described above) and paid the Company $100 in cash, and the Company transferred ownership of the Assets to N&B Energy. Notwithstanding the sale of the Assets, the Company retained its assets in Glasscock and Hutchinson Counties, Texas and also retained a 12.5% production payment (effective until a total of $2.5 million has been received); a 3% overriding royalty interest in its existing Okfuskee County, Oklahoma asset; and retained an overriding royalty interest on certain other undeveloped leasehold interests, pursuant to an Assignment of Production Payment and Assignment of Overriding Royalty Interests. The effective date of the Sale Agreement was August 1, 2018. The Assets were assigned “ as is As a result of the Assumption Agreement and the Sale Agreement, the Company reduced its liabilities by $37.9 million and its assets by approximately $12.1 million. The following table summarizes the net assets sold and gain recognized in connection with the Assumption Agreement and Sale Agreement: Transaction Summary Assumption of IBC Bank Loan $ 36,943,617 Assumption of ARO Liability 699,536 Assumption of Capital Lease Obligations and Other 287,074 Cash Received at Closing 100 Oil and Gas Properties Transferred (12,122,081 ) Total Gain on Sale $ 25,808,246

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company has provided a discussion of significant accounting policies, estimates and judgments in its March 31, 2019 Annual Report on Form 10-K. There have been no changes to the Company’s significant accounting policies since March 31, 2019 which are expected to have a material impact on the Company’s financial position, operations or cash flows. Reclassifications Certain reclassifications have been made to the prior year financial statements to conform them with the current year presentation. These reclassifications had no effect on the reported results of operations. Principles of Consolidation The consolidated financial statements include the accounts of Camber and all of its wholly-owned and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. Accounts Receivable Accounts receivable, net, include amounts due for oil and gas revenues from prior month production, accrued interest on the notes receivable due from Lineal and an estimate of amounts due from N&B Energy related to the September 2018 Sale Agreement. The allowance for doubtful accounts is the Company’s best estimate of the probable amount of credit losses in the Company’s existing accounts receivable. At December 31, 2019 and March 31, 2019, there were allowances for doubtful accounts of approximately $208,000 and $190,000, respectively, included in accounts receivable, and there were bad debts of $0 and $17,694, recognized for the three and nine-month periods ended December 31, 2019, respectively. Notes Receivable Notes receivable includes the two notes due from Lineal in the amounts of $1,539,719 and $800,000, respectively, as more fully discussed in “ NOTE 10 – Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over their useful lives. Amortization of the equipment under capital leases related to the Lineal operations was computed using the straight-line method over lives ranging from 3 to 5 years and is included in depreciation expense. Costs of maintenance and repairs were charged to expense when incurred. Long-lived assets including intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the assets carrying amount to determine if an impairment of such asset is necessary. This evaluation, as well as an evaluation of our intangible assets, requires the Company to make long-term forecasts of the future revenues and costs related to the assets subject to review. Forecasts require assumptions about demand for the Company’s services and future market conditions. Estimating future cash flows requires significant judgment, and the Company’s projections may vary from the cash flows eventually realized. Future events and unanticipated changes to assumptions could require a provision for impairment in a future period. The effect of any impairment would be to expense the difference between the fair value (less selling costs) of such asset and its carrying value. Such expense would be reflected in earnings. No impairments were deemed necessary for the periods ended December 31, 2019 and March 31, 2019. Goodwill Goodwill is tested for impairment annually and whenever events or circumstances make it more likely than not that an impairment may have occurred. Goodwill is reviewed for impairment at the reporting unit level, which is defined as operating segments or groupings of businesses one level below the operating segment level. The Company’s operating segments are the same as the reporting units used in its goodwill impairment test. Goodwill is tested for impairment by comparing the estimated fair value of a reporting unit, determined using a market approach, if market prices are available, or alternatively, a discounted cash flow model, with its carrying value. The annual evaluation of goodwill requires the use of estimates about future operating results, valuation multiples and discount rates of each reporting unit to determine their estimated fair value. Changes in these assumptions can materially affect these estimates. Once an impairment of goodwill has been recorded, it cannot be reversed. The Company recognized goodwill during the three months ended September 30, 2019 in conjunction with the Lineal Merger which was written off during the quarter ended December 31, 2019 as a result of the Lineal Divestiture as discussed in “NOTE 10 – Merger Agreement and Divestiture”. Revenue Recognition Exploration and Production Revenue The Company’s revenue for its exploration and production segment is comprised entirely of revenue from exploration and production activities. The Company’s oil is sold primarily to marketers, gatherers, and refiners. Natural gas is sold primarily to interstate and intrastate natural-gas pipelines, direct end-users, industrial users, local distribution companies, and natural-gas marketers. Natural gas liquids (NGLs) are sold primarily to direct end-users, refiners, and marketers. Payment is generally received from the customer in the month following delivery. Contracts with customers have varying terms, including month-to-month contracts, and contracts with a finite term. The Company recognizes sales revenues for oil, natural gas, and NGLs based on the amount of each product sold to a customer when control transfers to the customer. Generally, control transfers at the time of delivery to the customer at a pipeline interconnect, the tailgate of a processing facility, or as a tanker lifting is completed. Revenue is measured based on the contract price, which may be index-based or fixed, and may include adjustments for market differentials and downstream costs incurred by the customer, including gathering, transportation, and fuel costs. Revenues are recognized for the sale of the Company’s net share of production volumes. Sales on behalf of other working interest owners and royalty interest owners are not recognized as revenues. Oil and Gas Services Revenue The majority of Lineal’s oil and gas service revenue is derived from contracts and projects that typically span between 3 to 12 months. The oil and gas service contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. Lineal’s construction contracts are recognized over time because of the continuous transfer of control to the customer as all of the work is performed at the customer’s site and, therefore, the customer controls the asset as it is being constructed. Contract costs include labor, material, and indirect costs. Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, Lineal estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, and the performance of subcontractors. The timing of revenue recognition, billings and cash collections results in billed accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) on the consolidated balance sheet. On Lineal’s construction contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Generally, billing occurs prior to revenue recognition, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheet on a contract-by-contract basis at the end of each reporting period. Fair Value of Financial Instruments Accounting Standards Codification (ASC) 820 defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Quoted prices in active markets for identical assets or liabilities. ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. ● Level 3 – Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. As of December 31, 2019 and March 31, 2019, the significant inputs to the Company’s derivative liability and mezzanine equity calculations were Level 3 inputs. Recently Adopted Accounting Pronouncements ASC 2014-09, “ Revenue from Contracts with Customers (Topic 606) In November 2016, the Financial Accounting Standards Board (“ FASB ASU Following is a summary of cash and cash equivalents and restricted cash: December 31, 2019 March 31, 2019 Cash, cash equivalents and restricted cash $ 2,253,739 $ 7,778,723 In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). ASU 2016-15 seeks to reduce the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017. The Company adopted this ASU on April 1, 2018 and the adoption did not have a significant impact to the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business outputs Revenue from Contracts with Customers In May 2017, the FASB issued ASU 2017-09, “ Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting In February 2016, the 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, and 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 which do not contain purchase options that the Company is reasonably likely to exercise). As a result of the short-term expedient election, the Company does not have 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 April 1, 2019. Moving forward, the Company will evaluate any new lease commitments for application of Topic 842. In August 2018, the FASB issued ASU 2018-13, “ Disclosure Framework: Changes to the Disclosure Requirements for Fair Value Measurement, Recently Issued Accounting Pronouncements The Company does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying consolidated financial statements. Subsequent Events The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Dec. 31, 2019
Property and Equipment
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT Oil and Gas Properties Camber uses the full cost method of accounting for oil and natural gas producing activities. Costs to acquire mineral interests in oil and natural gas properties, to drill and equip exploratory wells used to find proved reserves, and to drill and equip development wells including directly related overhead costs and related asset retirement costs are capitalized. Under this method, all costs, including internal costs directly related to acquisition, exploration and development activities are capitalized as oil and natural gas property costs on a country-by-country basis. Costs not subject to amortization consist of unproved properties that are evaluated on a property-by-property basis. Amortization of these unproved property costs begins when the properties become proved or their values become impaired. Camber assesses overall values of unproved properties, if any, on at least an annual basis or when there has been an indication that impairment in value may have occurred. Impairment of unproved properties is assessed based on management’s intention with regard to future development of individually significant properties and the ability of Camber to obtain funds to finance their programs. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is added to the capitalized costs to be amortized. Sales of oil and natural gas properties are accounted for as adjustments to the net full cost pool with no gain or loss recognized, unless the adjustment would significantly alter the relationship between capitalized costs and proved reserves. If it is determined that the relationship is significantly altered, the corresponding gain or loss will be recognized in the statements of operations. Costs of oil and natural gas properties are amortized using the units of production method. Amortization expense calculated per equivalent physical unit of production amounted to $1.18 and $4.20 per barrel of oil equivalent for the nine months ended December 31, 2019 and 2018, respectively. All of Camber’s oil and natural gas properties are located in the United States. Costs being amortized at December 31, 2019 and March 31, 2019 are as follows: At December 31, 2019 At March 31, 2019 Oil and gas properties subject to amortization $ 50,352,304 $ 50,352,304 Oil and gas properties not subject to amortization 28,016,989 28,016,989 Capitalized asset retirement costs 152,223 176,649 Total oil & natural gas properties 78,521,516 78,545,944 Accumulated depreciation, depletion, and impairment (78,345,531 ) (78,333,628 ) Net Capitalized Costs $ 175,985 $ 212,316 Impairments For the nine months ended December 31, 2019, the Company recorded no impairments. For the nine months ended December 31, 2018, the Company recorded impairments totaling $1,304,785, which were due to lease expirations. Additions and Depletion During the nine months ended December 31, 2019 and 2018, the Company incurred costs of $0 and $2,187,302, respectively, for technical and other capital enhancements to extend the lives of the Company’s wells. Additionally, the Company recorded $11,902 and $459,835 for depletion for the nine months ended December 31, 2019 and 2018, respectively. Disposition of Oil and Natural Gas Properties On July 12, 2018, the Company entered into the Sale Agreement, as seller, with N&B Energy as purchaser. Pursuant to the Sale Agreement, the Company agreed to sell to N&B Energy a substantial portion of its assets, including all of the assets acquired pursuant to the terms of the December 31, 2015 Asset Purchase Agreement and certain other acquisitions, other than a production payment and overriding royalty interests (the “ Disposed Assets Leases As part of the Lineal Acquisition, the Company acquired various operating and finance leases for sales and administrative offices, motor vehicles and machinery and equipment. Due to the Redemption Agreement discussed above in “NOTE 10 – Merger Agreement and Divestiture”, the Company no longer owns the operating and finance leases that it had acquired in connection with the Lineal Acquisition. Effective August 1, 2018, the Company entered into a month-to-month lease at 1415 Louisiana, Suite 3500, Houston, Texas 77002. The entity providing use of the space without charge is affiliated with the Company’s Chief Financial Officer.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	9 Months Ended
	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 5 – ASSET RETIREMENT OBLIGATIONS The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of current and long-term obligations associated with the future retirement of oil and natural gas properties for the nine-month periods ended December 31, 2019 and 2018, respectively. 2019 2018 Carrying amount at beginning of period $ 303,809 $ 979,159 Accretion 2,920 4,725 Dispositions — (699,536 ) Revisions of previous estimates (25,425 ) 35,422 Carrying amount at end of period $ 281,304 $ 319,770 Camber has short-term obligations of $239,167 and $0 related to the plugging liabilities at December 31, 2019 and March 31, 2019, respectively.

NOTES PAYABLE AND DEBENTURE

NOTES PAYABLE AND DEBENTURE	9 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE AND DEBENTURE	NOTE 6 – NOTES PAYABLE AND DEBENTURE The Company had no notes payable or debenture outstanding as of December 31, 2019 or March 31, 2019. Debenture On October 31, 2018, an accredited institutional investor, Discover Growth Fund LLC (“ Discover

DERIVATIVE LIABILITY

DERIVATIVE LIABILITY	9 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE LIABILITY	NOTE 7 – DERIVATIVE LIABILITY The Company has determined that certain warrants the Company has issued contain provisions that protect holders from future issuances of the Company’s common stock at prices below such warrants’ respective exercise prices and these provisions could result in modification of the warrants’ exercise price based on a variable that is not an input to the fair value of a “ fixed-for-fixed Lower Price Activities for derivative warrant instruments during the nine months ended December 31, 2019 and 2018 were as follows: 2019 2018 Carrying amount at beginning of period $ 5 $ 5 Change in fair value (5 ) — Carrying amount at end of period $ — $ 5 The fair value of the derivative warrants was calculated using the Black-Scholes pricing model. Variables used in the Black Scholes pricing model as of December 31, 2018 include (1) discount rate of 2.20%, (2) expected term of 0.30 years, (3) expected volatility of 238.27%, and (4) zero expected dividends.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES During March and April 2018, the Company purchased certain equipment pursuant to capital leases. The effective borrowing rate was approximately 35%, and all obligations were due by December 2018. In conjunction with the assignment of the liabilities owed under the IBC Bank loan agreements to N&B Energy in September 2018, as discussed under “NOTE 2 – Liquidity and Going Concern Considerations” – “ Assumption Agreement Lineal (which as of December 31, 2019 has been completely divested in connection with the Lineal Divestiture discussed in “NOTE 10 – Merger Agreement and Divestiture”) has the usual liability of contractors for the completion of contracts and the warranty of its work. In addition, Lineal acts as prime contractor on a majority of the projects it undertakes and is normally responsible for the performance of the entire project, including subcontract work. Management is not aware of any material exposure related thereto which has not been provided for in the accompanying consolidated financial statements. Legal Proceedings. MidFirst In October 2018, the Company entered into a confidential settlement agreement with MidFirst Bank, its prior landlord, and settled all claims relating to the Company’s prior office space lease. Maranatha Oil Matter In November 2015, Randy L. Robinson, d/b/a Maranatha Oil Co. sued the Company in Gonzales County, Texas (Cause No. 26160). The plaintiff alleged that it assigned oil and gas leases to the Company in April 2010, retaining a 4% overriding royalty interest and 50% working interest and that the Company failed to pay such overriding royalty interest or royalty interest. The interests relate to certain oil and gas properties which the Company subsequently sold to Nordic Oil USA in April 2013. The petition alleges causes of actions for breach of contract, failure to pay royalties, non-payment of working interest, fraud, fraud in the inducement of contract, money had and received, constructive trust, violation of theft liability act, continuing tort and fraudulent concealment. The suit seeks approximately $100,000 in amounts alleged owed, plus pre-and post-judgment interest. The Company has filed a denial to the claims and intends to vehemently defend itself against the allegations. PetroGlobe Energy Holdings, LLC and Signal Drilling, LLC In March 2019, PetroGlobe and Signal sued the Company in the 316 th On January 31, 2020, the Company entered into a Settlement Agreement as discussed in “ NOTE 1 – The intention of such transfer of wells and partnership interests of CE is that (a) the Company shall be completely removed from liabilities resulting from future acts or omissions of CE occurring after such transfer date, (b) CE is effectively transferred and all steps have been approved by the Railroad Commission of Texas, including approval of new directors, officers, and owners of greater than a 25% interest in CE, and (c) that liability for the wells and partnership interests of the Company in CE, and the current officers and directors of CE, will be transferred after approval by the Railroad Commission along with all oil in storage tanks and the bond currently in place. CE operates all of our producing wells and leases located in Hutchinson County, Texas. The Company also agreed to bring the certain wells into regulatory compliance to the extent such compliance is required to obtain Railroad Commission of Texas approval and upon successful completion of the Company bringing the properties into regulatory compliance, the Company is required to assign to PetroGlobe, or its designee, all of its right, title and interest in all wells, leases, royalties, minerals, equipment, and other tangible assets associated with specified wells and properties. Such properties shall be free and clear of all claims and liens arising during the direct operation of such properties by CE. In the event that the Railroad Commission of Texas fails or refuses to approve the form “ P-5 O Upon the Company successfully bringing properties into regulatory compliance and assigning the properties to PetroGlobe, or its designee, the Company is required to also assign all of its membership interests in Petrolia. The Company released the parties to the Settlement Agreement, including Ian Acrey, individually, as well as their officers, directors, or members from any claims asserted in the lawsuit, and the parties to the Settlement Agreement along with Ian Acrey, individually, released the Company, its officers, directors, shareholders and affiliate corporations from any claims asserted in the lawsuit. The Company did not release any claims or causes of action against N&B Energy, LLC, Sezar Energy, LLP related to Richard Azar, or any of their affiliates, or predecessors, or successors. The parties agreed to promptly cause the filing of a motion and order to dismiss the lawsuit with prejudice shortly after execution of the Settlement Agreement. Apache Corporation In December 2018, Apache Corporation (“ Apache N&B Energy On September 12, 2019, N&B Energy filed a petition in the District Court for the 285 th

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 9 – REVENUE FROM CONTRACTS WITH CUSTOMERS Oil and Gas Contracts The following table disaggregates revenue by significant product type for the three and nine months ended December 31, 2019 and 2018: Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Oil sales $ 69,092 $ 78,301 $ 229,577 $ 455,32 Natural gas sales 9,871 13,114 29,418 753,057 Natural gas liquids sales 15,152 41,522 49,224 1,423,720 Total oil and gas revenue from customers $ 94,115 $ 127,937 $ 308,219 $ 2,632,099

MMERGER AGREEMENT AND DIVESTITU

MMERGER AGREEMENT AND DIVESTITURE	9 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
MERGER AGREEMENT AND DIVESTITURE	NOTE 10 – MERGER AGREEMENT AND DIVESTITURE Merger Agreement On July 8, 2019 (the “ Closing Date In connection with the Lineal Plan of Merger, the Company entered into several other agreements, including (a) a Security Exchange Agreement dated July 8, 2019 (the “ Exchange Agreement Funding Agreement July 2019 Lineal Note Also as part of the Lineal Merger, the Company designated three new series of preferred stock, (1) Series D Convertible Preferred Stock (the “ Series D Preferred Stock Series D Designation Series E Preferred Stock Series E Designation Series F Preferred Stock Series F Designation Series E and F Preferred Stock Series C Preferred Stock Series C Designation The Lineal Plan of Merger, Series D Designation and Series E Designation, provided that, effective upon the date that the stockholders of the Company had approved the Lineal Plan of Merger and issuance of shares in connection therewith (the “ Stockholder Approval Stockholder Approval Date Pursuant to the Lineal Plan of Merger, Merger Sub merged with and into Lineal, with Lineal continuing as the surviving entity in the Lineal Merger and as a wholly-owned subsidiary of the Company. The Funding Agreement required the Company to fund $1,050,000 in immediately available funds to Lineal (the “ Loan The consideration paid for the acquisition was as follows: Series E Preferred Shares $ 18,701,000 Series F Preferred Shares 1,417,000 Total consideration $ 20,118,000 The Series E Preferred Shares and the Series F Preferred Shares were determined to be contingently redeemable preferred stock and were accounted for as mezzanine equity. The fair value of the instruments was determined using an income valuation approach to estimated cash flows of the acquired business, analysis of the terms and rights of each class of equity instrument issued by the Company and an assessment of the probability of the various scenarios that could occur depending on the outcome of the Stockholder Approval vote, and the impact each scenario would have on the capital structure of the Company. Subsequent to the date of the Lineal Merger, the instruments will be assessed to determine whether it is probable of the instruments being redeemed as a result of contingencies being resolved. When it is deemed probable, the fair value will be adjusted to the new estimate of fair value in that period. The allocation of the preliminary purchase price to the assets and liabilities acquired in connection with the Lineal Merger was based on the current values of the assets and liabilities of Lineal as of the Lineal Merger date on July 8, 2019 and are as follows: Cash $ 449,763 Accounts receivable 2,776,477 Deferred tax assets 34,000 Cost in excess of billings 944,250 Property and equipment 1,436,920 Right of use asset – operating leases 913,396 Other current assets and deposits 60,132 Goodwill 17,992,118 Accounts payable – trade (400,889 ) Accrued and other liabilities (893,013 ) Operating lease liabilities (913,396 ) Finance lease liabilities (313,472 ) Loan Payable – shareholder (492,337 ) Notes payable (1,475,949 ) Net assets acquired $ 20,118,000 The total purchase price was allocated to the acquired tangible and intangible assets and liabilities of Lineal based on their estimated fair values as of the purchase closing date. The excess of the purchase price over the fair value of assets and liabilities acquired was allocated to goodwill. Divestiture On December 31, 2019, the Company entered into, and closed the transactions contemplated by the Redemption Agreement, by and between the Company, Lineal and the Preferred Holders. Pursuant to the Redemption Agreement, the Company redeemed the Company’s Series E and F Preferred Stock issued in connection with the Lineal Merger and ownership of 100% of Lineal was transferred back to the Preferred Holders, and all of the Series E Preferred Stock and Series F Preferred Stock of the Company outstanding were cancelled through the redemption. See also “NOTE 10 – Merger Agreement and Divestiture”. The Redemption Agreement also provided for (a) the entry by Lineal and the Company into a new unsecured promissory note in the amount of $1,539,719, the outstanding amount of the July 2019 Lineal Note together with additional amounts loaned by Camber to Lineal through December 31, 2019 (the “ December 2019 Lineal Note Lineal Note No. 2 The divestiture resulting from the Redemption Agreement qualifies as a discontinued operation in accordance with U.S. generally accepted accounting principles (“GAAP”). As a result, operating results and cash flows related to the Lineal operations have been reflected as discontinued operations in the Company’s consolidated statements of operations and consolidated statements of cash flows for the periods presented. The net consideration received for the divestiture was as follows: Return of Series E Preferred Shares $ 14,666,000 Return of Series F Preferred Shares 2,434,000 Total net consideration $ 17,100,000 The fair value of the instruments immediately prior to the divestiture was determined using an income valuation approach to estimate cash flows of the acquired business, analysis of the terms and rights of each class of equity instrument issued by the Company and an assessment of the probability of the various scenarios that could occur depending on the outcome of the Stockholder Approval vote, and the impact each scenario would have on the capital structure of the Company. Immediately prior to the Lineal Disposition, the Company recognized a gain on the change in fair value of the Series E and F Preferred Shares of $3,018,000, included within net loss from discontinued operations. The following table summarizes the assets and liabilities of Lineal which were transferred from the Company to the Preferred Holders, together with Lineal, as part of the Redemption agreement: Cash $ 2,101,879 Accounts receivable 1,673,538 Deferred tax assets 34,000 Cost in excess of billings 497,340 Property and equipment 1,996,229 Right of use asset – operating leases 710,898 Other current assets and deposits 49,275 Goodwill 18,314,222 Accounts payable – trade (260,882 ) Accrued and other liabilities (369,448 ) Billings in excess of costs (445,759) Operating lease liabilities (710,898 ) Finance lease liabilities (237,925 ) Notes payable (3,545,841 ) Net assets divested $ 19,806,628 As a result of the above, the Company recognized a loss on the disposal of the Lineal operations of $2,706,628 included within net loss from discontinued operations. Components of amounts reflected in the Company’s consolidated statements of operations related to discontinued operations are presented in the following table for the three and nine months ended December 31, 2019. Three Months Ended Nine Months Ended December 31, 2019 December 31, 2019 Contract revenue $ 2,821,229 $ 9,106,764 Contract costs (2,875,530 ) (7,772,726 ) Depreciation and amortization (90,415 ) (155,282 ) Selling, general and administrative (885,164 ) (1,649,643 ) Operating loss (1,029,880 ) (470,887 ) Other income 9,925 273,037 Interest expense (1,529 ) (113,522) Net (loss) from discontinued operations (1,021,484) (311,372 ) Loss on disposal of business (2,706,628 ) (2,706,628 ) Change in value of preferred stock 3,018,000 3,018,000 Total loss on discontinued operations $ (710,112 ) $ —

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 11 - INCOME TAXES The Company has estimated that its effective tax rate for U.S. purposes will be zero percent for the 2020 and 2019 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 nine months ended December 31, 2019 and 2018. The tax liability of $3,000 as shown on the balance sheet as of December 31, 2019, relates to the Company’s potential Oklahoma franchise tax liability and is not related to income tax.

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	9 Months Ended
	Dec. 31, 2019
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	Common Stock On April 20, 2018, Discover was issued 5 shares of common stock as a result of true-ups in connection with the August 23, 2017 conversion of $35,000 of the principal amount of the debenture held by Discover. During the quarter ended September 30, 2018, the Company issued a stock dividend on the Series B Preferred Stock consisting of 1 share (with a fair value of $15,625 based on the share price at September 30, 2018) of the Company’s common stock. Due to the fact that the Company is in a retained deficit position, the Company recognized a charge to additional paid in-capital of $882 and stock dividends distributable but not issued based on the par value of the common stock issued. During the quarter ended September 30, 2018, the Company issued 1 share to settle a stock dividend accrued on Series B Preferred Stock. On November 15, 2018, the Company entered into a consulting agreement with Regal Consulting, an investor relations firm, pursuant to which the firm agreed to provide the Company investor relations and consulting services for a period of six months, for monthly consideration of $28,000 and 7 restricted shares of the Company’s common stock. In January 2019, the Company issued 13 shares of restricted common stock to Regal Consulting for the months of November and December 2018, which shares were issued during the year ended March 31, 2019. On February 13, 2019, and effective on January 31, 2019, the Company entered into a First Amendment to the Consulting Agreement previously entered into with Regal Consulting. Pursuant to the First Amendment, the parties agreed to expand the investor relations services required to be provided by Regal Consulting under the agreement in consideration for $50,000 per month and 40 restricted shares of common stock per month (the “ Regal Shares Release On February 13, 2019, the Company entered into a letter agreement with SylvaCap Media (“ SylvaCap SylvaCap Shares During the three and nine months ended December 31, 2019, Discover and Discover Growth Fund, which purchased shares of Series C Preferred Stock from us in December 2018 (“ Discover Growth As of December 31, 2019, a total of 777,489 shares were due to Discover in connection with the Series C Preferred Stock conversions discussed above, which shares were held in abeyance subject to Discover’s 9.99% ownership limitation, to be issued from time to time, at the request of such party, of which 290,833 shares were issued subsequent to December 31, 2019. From April 1, 2019 to December 31, 2019, Discover was issued 29,073 shares of common stock as true-ups in connection with the October 31, 2018 conversion of the $495,000 remaining balance of principal owed under the terms of a convertible debenture. Series A Convertible Preferred Stock As of December 31, 2019 and March 31, 2019, the Company had no Series A Convertible Preferred Stock issued or outstanding. Series B Redeemable Convertible Preferred Stock As of December 31, 2019 and March 31, 2019, there were 0 and 44,000 shares of Series B Preferred Stock outstanding, respectively, which have the following features: ● a liquidation preference senior to all of the Company’s common stock; ● a dividend, payable quarterly, at an annual rate of six percent (6%) of the original issue price until such Series B Preferred Stock is no longer outstanding either due to conversion, redemption or otherwise; and ● voting rights on all matters, with each share having 1/781,250 of one vote. During the quarter ended September 30, 2018, the Company issued a stock dividend on the Series B Preferred Stock consisting of 1 share of the Company’s common stock as described above. On May 15, 2019, the Company entered into a conversion agreement with the then holder of all 44,000 shares of the Company’s then outstanding Series B Preferred Stock. Pursuant to the Conversion Agreement, all of the Series B Preferred Stock was converted into 1 share of the Company’s common stock pursuant to the stated terms of such Series B Preferred Stock, in consideration for $25,000 in cash due at the time of the parties entry into the agreement, which payment was made during the three months ended September 30, 2019. The holder also provided the Company a release in connection with certain of his rights under the Series B Preferred Stock (including any and all accrued and unpaid dividends) and certain other matters. Series C Redeemable Convertible Preferred Stock During the three and nine months ended December 31, 2018, the Company sold 632 and 1,577 shares of Series C Preferred Stock pursuant to the terms of an October 2017 Stock Purchase Agreement, October 2019 Stock Purchase Agreement and November 2018 Stock Purchase Agreement, for total consideration of $6 million and $15 million, respectively. During the three and nine months ended December 31, 2019, the Company sold no shares of Series C Preferred Stock. As of December 31, 2019 and 2018, there were 2,294 and 2,305 shares of Series C Preferred Stock outstanding, respectively. During the three and nine months ended December 31, 2018, Discover converted 10 and 404 shares of the Series C Preferred Stock with a face value of $0.1 million and $4.04 million, respectively, and a total of 2,234 shares and 4,403 shares of common stock were issued, respectively, which includes additional shares for conversion premiums and true ups in connection with those conversions through December 31, 2018. During the three and nine months ended December 31, 2019, Discover and Discover Growth converted 8 and 11 shares of the Series C Preferred Stock with a face value of $80,000 and $110,000, respectively, and a total of 3,604,160 shares and 4,608,610 shares of common stock were issued, respectively, which includes additional shares for conversion premiums and true ups in connection with those conversions through December 31, 2019. As of December 31, 2019 and March 31, 2019, the Company accrued common stock dividends on the Series C Preferred Stock based on the then 34.95% premium dividend rate. The Company recognized a total charge to additional paid-in capital and stock dividends distributable but not issued of $1,890,887 and $1,615,886 related to the stock dividend declared but not issued for the quarters ended December 31, 2019 and 2018, respectively. The Company recognized a total charge to additional paid-in capital and stock dividends distributable but not issued of $5,662,828 and $3,211,064 related to the stock dividends declared but not issued for the nine months ended December 31, 2019 and 2018, respectively. As of December 31, 2019, a total of 777,489 shares were due to Discover, which shares were held in abeyance subject to Discover’s 9.99% ownership limitation, to be issued from time to time, at the request of such party, of which 290,833 shares were issued subsequent to December 31, 2019. Series E Redeemable Convertible Preferred Stock and Series F Convertible Preferred Stock As described above in “NOTE 1 – General” and “NOTE 10 – Merger Agreement and Divestiture”, on the Closing Date, pursuant to the Lineal Plan of Merger, the Company acquired 100% of the ownership of Lineal from the Lineal Members in consideration for 1,000,000 of the newly issued shares of Series E Preferred Stock and 16,750 of the newly issued shares of Series F Preferred Stock and effective on December 31, 2019, the Company divested its ownership in Lineal and the Series E Preferred Stock and Series F Preferred Stock were returned to the Company and cancelled. Warrants The following is a summary of the Company’s outstanding warrants at December 31, 2019: Warrants Exercise Expiration Intrinsic Value at Outstanding Price ($) Date December 31, 2019 1 (1) 1,171,875.00 April 26, 2021 $ — 3 (2) 195,412.50 September 12, 2022 — 32 (3) 12,187.50 May 24, 2023 — 36 $ — (1) Warrants issued in connection with the sale of convertible notes. The warrants were exercisable on the grant date (April 26, 2016) and remain exercisable until April 26, 2021. (2) Warrants issued in connection with the Initial Tranche of the funding from Vantage. The warrants were exercisable on the grant date (September 12, 2017) and remain exercisable until September 12, 2022. (3) Warrants issued in connection with the Severance Agreement with Richard N. Azar II. The warrants were exercisable on the grant date (May 25, 2018) and remain exercisable until May 24, 2023.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 13 – SHARE-BASED COMPENSATION Camber measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award over the vesting period. Stock Options As of December 31, 2019 and March 31, 2019, the Company had 2 stock options outstanding with a weighted average exercise price of $40,429,700. Of the Company’s outstanding options, no options were exercised or forfeited during the nine months ended December 31, 2019. Additionally, no stock options were granted during the nine months ended December 31, 2019. Compensation expense related to stock options during the nine-month periods ended December 31, 2019 and 2018 was $0. Options outstanding and exercisable at December 31, 2019 and March 31, 2019 had no intrinsic value, respectively. The intrinsic value is based upon the difference between the market price of Camber’s common stock on the date of exercise and the grant price of the stock options. As of December 31, 2019 and March 31, 2019, there was no remaining unrecognized share-based compensation expense related to all non-vested stock options. Options outstanding and exercisable as of December 31, 2019: Exercise Remaining Options Options Price ($) Life (Yrs.) Outstanding Exercisable 40,429,700 0.75 2 2 Total 2 2

INCOME (LOSS) PER COMMON SHARE

INCOME (LOSS) PER COMMON SHARE	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
INCOME (LOSS) PER COMMON SHARE	NOTE 14 – INCOME (LOSS) PER COMMON SHARE The calculation of earnings (loss) per share for the three and nine months ended December 31, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Numerator: Income (loss) before discontinued operations $ (1,123,566 ) $ (1,586,084 ) $ (3,398,240 ) $ 18,130,185 Discontinued operations (710,112 ) — — — Net income (loss) (1,833,678 ) (1,586,084 (3,398,240 ) 18,130,185 Less preferred dividends (1,890,887 ) (1,615,886 ) (5,662,828 ) (3,211,064 ) Net income (loss) attributable to common stockholders $ (3,724,565 ) $ (3,201,970 ) $ (9,061,068 ) $ 14,919,121 Denominator Weighted average share – basic 2, 937,254 4,000 1,155,285 1,869 Dilutive effect of common stock equivalents Options/warrants — — — 494 Convertible debenture — — — — Preferred C shares — — — 25,827 Denominator Total Weighted average shares – diluted 2, 937,254 4,000 1,155,285 28,190 Income (loss) per share – basic Continuing operations $ (1.03 ) $ (800.49 ) $ (7.84 ) $ 7,982.41 Discontinued operations (0.24 ) — — — Total $ (1.27 ) $ (800.49 ) $ (7.84 ) $ 7,982.41 Income (loss) per share – diluted Continuing Operations $ (1.03 ) $ (800.49 ) $ (7.84 ) $ 529.23 Discontinued operations (0.24 ) — — — Total $ (1.27 ) $ (800.49 ) $ (7.84 ) $ 529.23 For the three and nine months ended December 31, 2019 and 2018, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net income (loss) per share as the inclusion of such shares would be anti-dilutive. Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Common Shares Issuable for: Convertible Debt 276 — 276 — Options and Warrants 38 1,071,7182 38 — Series C Preferred Shares 1,123,372,859 32,284,833 1,123,372,859 — Total 1,123,373,173 33,356,551 1,123,373,173 —

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 15 – SUPPLEMENTAL CASH FLOW INFORMATION Net cash paid for interest and income taxes was as follows for the nine months ended December 31, 2019 and 2018: 2019 2018 Interest $ 14,771 $ 842,520 Income taxes $ — $ — Non-cash investing and financing activities included the following: Nine Months Ended December 31, 2019 2018 Change in Accounts Payable for Accrued Capital Expenditures $ — $ 547,033 Settlement of Common Stock Payable $ 331,030 $ 200,000 Change in Estimate for Asset Retirement Obligations $ 25,425 $ 35,422 Stock Dividends Distributable but not Issued $ 5,662,828 $ 3,211,064 Issuance of Stock Dividends $ 3 $ 2,699 Conversion of Convertible Notes to Common Stock $ — $ 917,104 Conversion of Preferred Stock to Common Stock $ 4,653 $ 122,070 Common Stock Issued in Abeyance $ 29 $ 308

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 16 – FAIR VALUE MEASUREMENTS When applying fair value principles in the valuation of assets and liabilities, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company has not changed its valuation techniques used in measuring the fair value of any financial assets or liabilities during the fiscal years presented. The fair value estimates take into consideration the credit risk of both the Company and its counterparties. When active market quotes are not available for financial assets and liabilities, the Company uses industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including credit risk, interest rate curves, foreign currency rates and forward and spot prices for currencies. In circumstances where market-based observable inputs are not available, management judgment is used to develop assumptions to estimate fair value. Generally, the fair value of our Level 3 instruments are estimated as the net present value of expected future cash flows based on internal and external inputs. Fair Value Measurements The liabilities and mezzanine equity carried at fair value as of December 31, 2019 and March 31, 2019 were as follows: December 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Derivative liability $ — $ — $ — $ — Mezzanine Equity: Series E Preferred Stock 14,666,000 — — 14,666,000 Series F Preferred Stock 2,434,000 — — 2,434,000 Total liabilities and mezzanine equity at fair value $ 17,100,000 $ — $ — $ 17,100,000 March 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Derivative liability $ 5 $ — $ — $ 5 Total liabilities at fair value $ 5 $ — $ — $ 5 There were no transfers in or out of Level 3 for the nine months ended December 31, 2019. Assets and Liabilities Measured at Fair Value on a Non-recurring Basis In addition to the financial instruments that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a non-recurring basis as required by U.S. GAAP. Generally, assets are recorded at fair value on a non-recurring basis as a result of impairment charges or as part of a business combination. As discussed in “NOTE 10 – Merger Agreement and Divestiture Additionally, the Series E Preferred Stock and Series F Preferred Stock were considered contingently redeemable preferred stock and were classified as mezzanine equity. The fair value of these instruments was estimated as part of the accounting for the Lineal Plan of Merger described in “NOTE 10 – Merger Agreement and Divestiture”. Effective December 31, 2019, the Series E and Series F Preferred Stock were returned to the Company and cancelled as part of the Lineal Divestiture. Immediately prior to the Merger, the estimated fair value of the Series E and Series F Preferred Stock was determined using an income valuation approach to estimate the future cash flows of the Lineal business as of December 31, 2019, including an analysis of the terms and rights of each class of equity and their current value based on the disposition of the Lineal business.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	2020 Stock Purchase Agreement On February 3, 2020, the Company and Discover entered into a Stock Purchase Agreement (the “ 2020 Purchase Agreement Face Value The Company also agreed that if the Merger (described below) does not close by the required merger date, and if the amount of funds loaned by the Company to Viking in connection with the Secured Note, as discussed and defined below, plus any applicable interest is returned to the Company by Viking, the Company is required, at Discover’s option, to immediately repurchase from Discover all then outstanding Series C Preferred Stock shares acquired by Discover pursuant to the 2020 Purchase Agreement, by paying to Discover 110% of the aggregate Face Value of all such shares. Waiver and Amendment Agreement On February 3, 2020, the Company and Discover entered into a Waivers and Amendments to Stock Purchase Agreements, pursuant to which Discover (a) waived any and all Trigger Events (as defined in the certificate of designation of the Series C Preferred Stock (the “ Designation Viking Plan of Merger On February 3, 2020, the Company entered into an Agreement and Plan of Merger (the “ Merger Agreement Viking Merger Sub Merger Pursuant to the Merger Agreement, at the effective time of the Merger (the “ Effective Time Viking Common Stock The Merger Agreement can be terminated (i) at any time with the mutual consent of the parties; (ii) by either the Company or Viking if any governmental consent or approval required for closing is not obtained, or any governmental entity issues a final non-appealable order or similar decree preventing the Merger; (iii) by either Viking or the Company if the Merger shall not have been consummated on or before June 30, 2020, provided that the Company or Viking shall have the right to extend such date from time to time, until up to December 31, 2020, in the event that the Company has not fully resolved SEC comments on the Form S-4 or other SEC related to the Merger, and Camber is responding to such comments in a reasonable fashion, subject to certain exceptions; (iv) by the Company or Viking, upon the breach by the other of a term of the Merger, which is not cured within 30 days of the date of written notice thereof by the other; (v) by the Company if Viking is unable to obtain the affirmative vote of its stockholders for approval of the Merger; (vi) by Viking if the Company is unable to obtain the affirmative vote of its stockholders required pursuant to the terms of the Merger Agreement; and (vii) by Viking or the Company if the other party’s directors change their recommendation to their stockholders to approve the Merger, subject to certain exceptions set forth in the Merger Agreement, or if there is a willful breach of the Merger Agreement by the other party thereto. A further requirement to the closing of the Merger is that the Company was required to have acquired 25% of Viking’s subsidiary Elysium Energy, LLC (“ Elysium Camber Viking Investment The Merger Agreement can be terminated under certain circumstances and depending on the reason for the termination, the Company, upon such termination will retain a portion, all, or none of the 25% interest in Elysium acquired as discussed above. The Merger Agreement provides that the Secured Note (defined below) will be forgiven in the event the Merger closes, and the Secured Note will be due 90 days after the date that the Merger Agreement is terminated by any party for any reason, at which time an additional payment shall also be due to the Company and payable by Viking in an amount equal to (i) the amount owed by the Company to its Series C Preferred Stock holder in connection with the redemption of 525 shares of the Company’s Series C Preferred Stock, minus (ii) the repayment amount due to the Company from Viking pursuant to the Secured Note (the “ Additional Payment A required condition to the entry into the Merger was that the Company loan Viking $5 million, pursuant to the terms of a Securities Purchase Agreement, which was entered into on February 3, 2020 (the “ SPA Secured Note secured by a security interest, para passu with the other investors in Viking’s Secured Note offering (subject to certain pre-requisites) in Viking’s 75% ownership of Elysium and 100% of Ichor Energy Holdings, LLC. Additionally, pursuant to a separate Security and Pledge Agreement entered into on February 3, 2020, Viking provided the Company a security interest in the membership, common stock and/or ownership interests of all of Viking’s existing and future, directly owned or majority owned subsidiaries, to secure the repayment of the Secured Note. The Secured Note is convertible into common shares of Viking at a conversion price of $0.24 per share at any time beginning 30 days after the date of the Note (February 3, 2020), until the 15 th As additional consideration for the Company making the loan to Viking, Viking assigned the Company 25% of Elysium pursuant to the terms of an Assignment of Membership Interests dated February 3, 2020. Settlement Agreement with PetroGlobe On January 31, 2020, the Company entered into a Compromise Settlement Agreement (with PetroGlobe, Signal, Petrolia, PGCO, and CRTC. See NOTE 8 – Commitments and Contingencies Issuance of Common Stock In Connection With Series C Preferred Stock Conversion From January 1, 2020 through the date of this filing, a total of an aggregate of 290,833 shares of common stock were issued to Discover in connection with the December 12, 2019 conversion by Discover of one share of Series C Preferred Stock and represented shares held in abeyance in connection with such issuance.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain reclassifications have been made to the prior year financial statements to conform them with the current year presentation. These reclassifications had no effect on the reported results of operations.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Camber and all of its wholly-owned and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.
Accounts Receivable	Accounts Receivable Accounts receivable, net, include amounts due for oil and gas revenues from prior month production, accrued interest on the notes receivable due from Lineal and an estimate of amounts due from N&B Energy related to the September 2018 Sale Agreement. The allowance for doubtful accounts is the Company’s best estimate of the probable amount of credit losses in the Company’s existing accounts receivable. At December 31, 2019 and March 31, 2019, there were allowances for doubtful accounts of approximately $208,000 and $190,000, respectively, included in accounts receivable, and there were bad debts of $0 and $17,694, recognized for the three and nine-month periods ended December 31, 2019, respectively.
Notes Receivable	Notes Receivable Notes receivable includes the two notes due from Lineal in the amounts of $1,539,719 and $800,000, respectively, as more fully discussed in “ NOTE 10 –
Property and Equipment	Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over their useful lives. Amortization of the equipment under capital leases related to the Lineal operations was computed using the straight-line method over lives ranging from 3 to 5 years and is included in depreciation expense. Costs of maintenance and repairs were charged to expense when incurred. Long-lived assets including intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the assets carrying amount to determine if an impairment of such asset is necessary. This evaluation, as well as an evaluation of our intangible assets, requires the Company to make long-term forecasts of the future revenues and costs related to the assets subject to review. Forecasts require assumptions about demand for the Company’s services and future market conditions. Estimating future cash flows requires significant judgment, and the Company’s projections may vary from the cash flows eventually realized. Future events and unanticipated changes to assumptions could require a provision for impairment in a future period. The effect of any impairment would be to expense the difference between the fair value (less selling costs) of such asset and its carrying value. Such expense would be reflected in earnings. No impairments were deemed necessary for the periods ended December 31, 2019 and March 31, 2019.
Goodwill	Goodwill Goodwill is tested for impairment annually and whenever events or circumstances make it more likely than not that an impairment may have occurred. Goodwill is reviewed for impairment at the reporting unit level, which is defined as operating segments or groupings of businesses one level below the operating segment level. The Company’s operating segments are the same as the reporting units used in its goodwill impairment test. Goodwill is tested for impairment by comparing the estimated fair value of a reporting unit, determined using a market approach, if market prices are available, or alternatively, a discounted cash flow model, with its carrying value. The annual evaluation of goodwill requires the use of estimates about future operating results, valuation multiples and discount rates of each reporting unit to determine their estimated fair value. Changes in these assumptions can materially affect these estimates. Once an impairment of goodwill has been recorded, it cannot be reversed. The Company recognized goodwill during the three months ended September 30, 2019 in conjunction with the Lineal Merger which was written off during the quarter ended December 31, 2019 as a result of the Lineal Divestiture as discussed in “NOTE 10 – Merger Agreement and Divestiture”.
Revenue Recognition	Revenue Recognition Exploration and Production Revenue The Company’s revenue for its exploration and production segment is comprised entirely of revenue from exploration and production activities. The Company’s oil is sold primarily to marketers, gatherers, and refiners. Natural gas is sold primarily to interstate and intrastate natural-gas pipelines, direct end-users, industrial users, local distribution companies, and natural-gas marketers. Natural gas liquids (NGLs) are sold primarily to direct end-users, refiners, and marketers. Payment is generally received from the customer in the month following delivery. Contracts with customers have varying terms, including month-to-month contracts, and contracts with a finite term. The Company recognizes sales revenues for oil, natural gas, and NGLs based on the amount of each product sold to a customer when control transfers to the customer. Generally, control transfers at the time of delivery to the customer at a pipeline interconnect, the tailgate of a processing facility, or as a tanker lifting is completed. Revenue is measured based on the contract price, which may be index-based or fixed, and may include adjustments for market differentials and downstream costs incurred by the customer, including gathering, transportation, and fuel costs. Revenues are recognized for the sale of the Company’s net share of production volumes. Sales on behalf of other working interest owners and royalty interest owners are not recognized as revenues. Oil and Gas Services Revenue The majority of Lineal’s oil and gas service revenue is derived from contracts and projects that typically span between 3 to 12 months. The oil and gas service contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. Lineal’s construction contracts are recognized over time because of the continuous transfer of control to the customer as all of the work is performed at the customer’s site and, therefore, the customer controls the asset as it is being constructed. Contract costs include labor, material, and indirect costs. Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, Lineal estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, and the performance of subcontractors. The timing of revenue recognition, billings and cash collections results in billed accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) on the consolidated balance sheet. On Lineal’s construction contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Generally, billing occurs prior to revenue recognition, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheet on a contract-by-contract basis at the end of each reporting period.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Accounting Standards Codification (ASC) 820 defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● Level 1 – Quoted prices in active markets for identical assets or liabilities. ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. ● Level 3 – Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. As of December 31, 2019 and March 31, 2019, the significant inputs to the Company’s derivative liability and mezzanine equity calculations were Level 3 inputs.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ASC 2014-09, “ Revenue from Contracts with Customers (Topic 606) In November 2016, the Financial Accounting Standards Board (“ FASB ASU Following is a summary of cash and cash equivalents and restricted cash: December 31, 2019 March 31, 2019 Cash, cash equivalents and restricted cash $ 2,253,739 $ 7,778,723 In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). ASU 2016-15 seeks to reduce the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017. The Company adopted this ASU on April 1, 2018 and the adoption did not have a significant impact to the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business outputs Revenue from Contracts with Customers In May 2017, the FASB issued ASU 2017-09, “ Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting In February 2016, the 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, and 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 which do not contain purchase options that the Company is reasonably likely to exercise). As a result of the short-term expedient election, the Company does not have 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 April 1, 2019. Moving forward, the Company will evaluate any new lease commitments for application of topic 842. In August 2018, the FASB issued ASU 2018-13, “ Disclosure Framework: Changes to the Disclosure Requirements for Fair Value Measurement, Recently Issued Accounting Pronouncements The Company does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying consolidated financial statements.
Subsequent Events	Subsequent Events The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

LIQUIDITY AND GOING CONCERN C_2

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Tables)	9 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of net assets sold and gain recognized in connection with the Assumption Agreement and Sale Agreement	The following table summarizes the net assets sold and gain recognized in connection with the Assumption Agreement and Sale Agreement: Transaction Summary Assumption of IBC Bank Loan $ 36,943,617 Assumption of ARO Liability 699,536 Assumption of Capital Lease Obligations and Other 287,074 Cash Received at Closing 100 Oil and Gas Properties Transferred (12,122,081 ) Total Gain on Sale $ 25,808,246

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of cash and cash equivalents and restricted cash	Following is a summary of cash and cash equivalents and restricted cash: December 31, 2019 March 31, 2019 Cash, cash equivalents and restricted cash $ 2,253,739 $ 7,778,723

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2019
Property and Equipment
Schedule of oil and natural gas properties	All of Camber’s oil and natural gas properties are located in the United States. Costs being amortized at December 31, 2019 and March 31, 2019 are as follows: At December 31, 2019 At March 31, 2019 Oil and gas properties subject to amortization $ 50,352,304 $ 50,352,304 Oil and gas properties not subject to amortization 28,016,989 28,016,989 Capitalized asset retirement costs 152,223 176,649 Total oil & natural gas properties 78,521,516 78,545,944 Accumulated depreciation, depletion, and impairment (78,345,531 ) (78,333,628 ) Net Capitalized Costs $ 175,985 $ 212,316

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	9 Months Ended
	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Schedule of reconciliation of long-term legal obligations	The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of current and long-term obligations associated with the future retirement of oil and natural gas properties for the nine-month periods ended December 31, 2019 and 2018, respectively. 2019 2018 Carrying amount at beginning of period $ 303,809 $ 979,159 Accretion 2,920 4,725 Dispositions — (699,536 ) Revisions of previous estimates (25,425 ) 35,422 Carrying amount at end of period $ 281,304 $ 319,770

DERIVATIVE LIABILITIES (Tables)

DERIVATIVE LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of activity for derivative warrant instruments	Activities for derivative warrant instruments during the nine months ended December 31, 2019 and 2018 were as follows: 2019 2018 Carrying amount at beginning of period $ 5 $ 5 Change in fair value (5 ) — Carrying amount at end of period $ — $ 5

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Schedule of disaggregated revenue	The following table disaggregates revenue by significant product type for the three and nine months ended December 31, 2019 and 2018: Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Oil sales $ 69,092 $ 78,301 $ 229,577 $ 455,32 Natural gas sales 9,871 13,114 29,418 753,057 Natural gas liquids sales 15,152 41,522 49,224 1,423,720 Total oil and gas revenue from customers $ 94,115 $ 127,937 $ 308,219 $ 2,632,099

MERGER AGREEMENT AND DIVESTITUR

MERGER AGREEMENT AND DIVESTITURE (Tables)	9 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Schedule of consideration paid for the acquisition	The consideration paid for the acquisition was as follows: Series E Preferred Shares $ 18,701,000 Series F Preferred Shares 1,417,000 Total consideration $ 20,118,000
Schedule of current values of the assets and liabilities of Lineal as of the Merger	The allocation of the preliminary purchase price to the assets and liabilities acquired in connection with the Lineal Merger was based on the current values of the assets and liabilities of Lineal as of the Lineal Merger date on July 8, 2019 and are as follows: Cash $ 449,763 Accounts receivable 2,776,477 Deferred tax assets 34,000 Cost in excess of billings 944,250 Property and equipment 1,436,920 Right of use asset – operating leases 913,396 Other current assets and deposits 60,132 Goodwill 17,992,118 Accounts payable – trade (400,889 ) Accrued and other liabilities (893,013 ) Operating lease liabilities (913,396 ) Finance lease liabilities (313,472 ) Loan Payable – shareholder (492,337 ) Notes payable (1,475,949 ) Net assets acquired $ 20,118,000
Schedule of net consideration received for the divestiture	The net consideration received for the divestiture was as follows: Return of Series E Preferred Shares $ 14,666,000 Return of Series F Preferred Shares 2,434,000 Total net consideration $ 17,100,000
Schedule of assets and liabilities transferred in Redemption agreement	The following table summarizes the assets and liabilities of Lineal which were transferred from the Company to the Preferred Holders, together with Lineal, as part of the Redemption agreement: Cash $ 2,101,879 Accounts receivable 1,673,538 Deferred tax assets 34,000 Cost in excess of billings 497,340 Property and equipment 1,996,229 Right of use asset – operating leases 710,898 Other current assets and deposits 49,275 Goodwill 18,314,222 Accounts payable – trade (260,882 ) Accrued and other liabilities (369,448 ) Billings in excess of costs (445,759) Operating lease liabilities (710,898 ) Finance lease liabilities (237,925 ) Notes payable (3,545,841 ) Net assets divested $ 19,806,628
Schedule of consolidated statements of operations related to discontinued operations	Components of amounts reflected in the Company’s consolidated statements of operations related to discontinued operations are presented in the following table for the three and nine months ended December 31, 2019. Three Months Ended Nine Months Ended December 31, 2019 December 31, 2019 Contract revenue $ 2,821,229 $ 9,106,764 Contract costs (2,875,530 ) (7,772,726 ) Depreciation and amortization (90,415 ) (155,282 ) Selling, general and administrative (885,164 ) (1,649,643 ) Operating loss (1,029,880 ) (470,887 ) Other income 9,925 273,037 Interest expense (1,529 ) (113,522) Net (loss) from discontinued operations (1,021,484) (311,372 ) Loss on disposal of business (2,706,628 ) (2,706,628 ) Change in value of preferred stock 3,018,000 3,018,000 Total loss on discontinued operations $ (710,112 ) $ —

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Tables)	9 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of outstanding warrants	The following is a summary of the Company’s outstanding warrants at December 31, 2019: Warrants Exercise Expiration Intrinsic Value at Outstanding Price ($) Date December 31, 2019 1 (1) 1,171,875.00 April 26, 2021 $ — 3 (2) 195,412.50 September 12, 2022 — 32 (3) 12,187.50 May 24, 2023 — 36 $ — (1) Warrants issued in connection with the sale of convertible notes. The warrants were exercisable on the grant date (April 26, 2016) and remain exercisable until April 26, 2021. (2) Warrants issued in connection with the Initial Tranche of the funding from Vantage. The warrants were exercisable on the grant date (September 12, 2017) and remain exercisable until September 12, 2022. (3) Warrants issued in connection with the Severance Agreement with Richard N. Azar II. The warrants were exercisable on the grant date (May 25, 2018) and remain exercisable until May 24, 2023.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of options outstanding and exercisable	Options outstanding and exercisable as of December 31, 2019: Exercise Remaining Options Options Price ($) Life (Yrs.) Outstanding Exercisable 40,429,700 0.75 2 2 Total 2 2

INCOME (LOSS) PER COMMON SHARE

INCOME (LOSS) PER COMMON SHARE (Tables)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of earnings (loss) per share	The calculation of earnings (loss) per share for the three and nine months ended December 31, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Numerator: Income (loss) before discontinued operations $ (1,123,566 ) $ (1,586,084 ) $ (3,398,240 ) $ 18,130,185 Discontinued operations (710,112 ) — — — Net income (loss) (1,833,678 ) (1,586,084 (3,398,240 ) 18,130,185 Less preferred dividends (1,890,887 ) (1,615,886 ) (5,662,828 ) (3,211,064 ) Net income (loss) attributable to common stockholders $ (3,724,565 ) $ (3,201,970 ) $ (9,061,068 ) $ 14,919,121 Denominator Weighted average share – basic 2, 937,254 4,000 1,155,285 1,869 Dilutive effect of common stock equivalents Options/warrants — — — 494 Convertible debenture — — — — Preferred C shares — — — 25,827 Denominator Total Weighted average shares – diluted 2, 937,254 4,000 1,155,285 28,190 Income (loss) per share – basic Continuing operations $ (1.03 ) $ (800.49 ) $ (7.84 ) $ 7,982.41 Discontinued operations (0.24 ) — — — Total $ (1.27 ) $ (800.49 ) $ (7.84 ) $ 7,982.41 Income (loss) per share – diluted Continuing Operations $ (1.03 ) $ (800.49 ) $ (7.84 ) $ 529.23 Discontinued operations (0.24 ) — — — Total $ (1.27 ) $ (800.49 ) $ (7.84 ) $ 529.23
Schedule of antidilutive securities	For the three and nine months ended December 31, 2019 and 2018, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net income (loss) per share as the inclusion of such shares would be anti-dilutive. Three Months Ended Nine Months Ended December 31, December 31, 2019 2018 2019 2018 Common Shares Issuable for: Convertible Debt 276 — 276 — Options and Warrants 38 1,071,7182 38 — Series C Preferred Shares 1,123,372,859 32,284,833 1,123,372,859 — Total 1,123,373,173 33,356,551 1,123,373,173 —

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Net cash paid for interest and income taxes was as follows for the nine months ended December 31, 2019 and 2018: 2019 2018 Interest $ 14,771 $ 842,520 Income taxes $ — $ — Non-cash investing and financing activities included the following: Nine Months Ended December 31, 2019 2018 Change in Accounts Payable for Accrued Capital Expenditures $ — $ 547,033 Settlement of Common Stock Payable $ 331,030 $ 200,000 Change in Estimate for Asset Retirement Obligations $ 25,425 $ 35,422 Stock Dividends Distributable but not Issued $ 5,662,828 $ 3,211,064 Issuance of Stock Dividends $ 3 $ 2,699 Conversion of Convertible Notes to Common Stock $ — $ 917,104 Conversion of Preferred Stock to Common Stock $ 4,653 $ 122,070 Common Stock Issued in Abeyance $ 29 $ 308

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of liabilities and mezzanine equity carried at fair value	The liabilities and mezzanine equity carried at fair value as of December 31, 2019 and March 31, 2019 were as follows: December 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Derivative liability $ — $ — $ — $ — Mezzanine Equity: Series E Preferred Stock 14,666,000 — — 14,666,000 Series F Preferred Stock 2,434,000 — — 2,434,000 Total liabilities and mezzanine equity at fair value $ 17,100,000 $ — $ — $ 17,100,000 March 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Derivative liability $ 5 $ — $ — $ 5 Total liabilities at fair value $ 5 $ — $ — $ 5

GENERAL (Details Narrative)

GENERAL (Details Narrative) - USD ($)	Oct. 28, 2019	Oct. 08, 2019	Aug. 01, 2018	Jan. 31, 2019	Dec. 31, 2019	Apr. 10, 2019	Mar. 31, 2019	Dec. 20, 2018	Dec. 19, 2018
Description of reverse stock split	1-for-50
Common stock, authorized	250,000,000				5,000,000	20,000,000	5,000,000	200,000,000	500,000,000
Common Stock, Outstanding					4,709,167		13,441
Ownership percentage					25.00%
Settlement Agreement [Member] | Petroglobe Energy Holdings, LLC and Signal Drilling, LLC [Member]
Litigation settlement amount				$ 250,000
Litigation settlement due				100,000
Escrow account				$ 150,000
Agreement And Plan Of Merger [Member] | Members of Lineal [Member]
Ownership percentage					100.00%
N&B Energy LLC [Member]
Production payment percentage			12.50%
Production payment			$ 2,500,000
Overriding royalty interest			3.00%
Evercon Energy LLC ("Evercon") [Member]
Overriding royalty interest		80.00%
Provide working capital					$ 50,000

LIQUIDITY AND GOING CONCERN C_3

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details) - USD ($)	Sep. 26, 2018	Dec. 31, 2018
Total Gain on Sale		$ 25,808,246
N&B Energy LLC [Member] | Sale Agreement [Member]
Assumption of IBC Bank Loan	$ 36,943,617
Assumption of ARO Liability	699,536
Assumption of Capital Lease Obligations and Other	287,074
Cash Received at Closing	100
Oil and Gas Properties Transferred	(12,122,081)
Total Gain on Sale	$ 25,808,246

LIQUIDITY AND GOING CONCERN C_4

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Narrative) - USD ($)	3 Months Ended				9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Current assets	$ 2,429,777				$ 2,429,777		$ 8,170,965
Current liabilities	1,976,032				1,976,032		2,103,802
Working capital deficit	400,000				400,000		$ 6,100,000
Change in working capital deficit					4,000,000
Losses from continuing operations					(3,398,240)	$ 18,130,185
Costs incurred					300,000
Series C Preferred Stock [Member]
Number of shares issued		632	735	210
October 2018 Stock Purchase Agreement [Member] | Series C Preferred Stock [Member]
Proceeds from sale of shares	0				0
November 2018 Stock Purchase Agreement [Member] | Series C Preferred Stock [Member]
Proceeds from sale of shares	$ 6,000,000				$ 15,000,000
October 2017 Stock Purchase Agreement [Member] | Series C Preferred Stock [Member]
Number of shares issued	632	632				1,577

LIQUIDITY AND GOING CONCERN C_5

LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Narrative 1) - USD ($)	Sep. 26, 2018	Aug. 01, 2018	Jul. 12, 2018	Dec. 31, 2019
N&B Energy LLC [Member]
Production payment percentage		12.50%
Production payment		$ 2,500,000
Overriding royalty interest		3.00%
N&B Energy LLC [Member] | Sale Agreement [Member]
Proceeds from divestiture of businesses	$ 100
Production payment percentage	12.50%
Production payment	$ 2,500,000
Overriding royalty interest	3.00%
Reduction in liabilities	$ 37,900,000
Reduction in assets	$ 12,100,000
Segundo Resources, LLC (Affiliate of RAD2) [Member] | Asset Purchase Agreement [Member] | N&B Energy LLC [Member]
Proceeds from divestiture of businesses			$ 100
International Bank of Commerce [Member] | Loan Agreement [Member]
Commercial bank debt assumed in acquisition				$ 36,900,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Cash, cash equivalents and restricted cash	$ 2,253,739	$ 7,778,723

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019
Allowance for doubtful accounts receivable	$ 208,000	$ 208,000	$ 190,000
Bad debts	0	17,694
Lineal Industries [Member] | Notes Receivable [Member]
Principal amounts	1,539,719	1,539,719
Lineal Industries [Member] | Notes Receivable [Member]
Principal amounts	$ 800,000	$ 800,000
Minimum [Member]
Property, Plant and Equipment, Useful Life		3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life		5 years

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Components of oil and gas properties recorded at cost
Oil and gas properties subject to amortization	$ 50,352,304	$ 50,352,304
Oil and gas properties not subject to amortization	28,016,989	28,016,989
Capitalized asset retirement costs	152,223	176,649
Total oil & natural gas properties	78,521,516	78,545,944
Accumulated depreciation, depletion, and impairment	(78,345,531)	(78,333,628)
Net Capitalized Costs	$ 175,985	$ 212,316

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative)	Jul. 12, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)$ / Boe	Dec. 31, 2018USD ($)	Sep. 30, 2018$ / Boe
Amortization expense per barrel of oil equivalent | $ / Boe			1.18		4.20
Impairment of oil and gas		$ 548,819		$ 1,304,785
Lives of wells enhancement			$ 0	2,187,302
Depletion on lives of wells			$ 11,902	$ 459,835
Segundo Resources, LLC (Affiliate of RAD2) [Member] | Asset Purchase Agreement [Member] | N&B Energy LLC [Member]
Proceeds from divestiture of businesses	$ 100

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Carrying amount at beginning of period	$ 303,809	$ 979,159
Accretion	2,920	4,725
Dispositions		(699,536)
Revisions of previous estimates	(25,425)	35,422
Carrying amount at end of period	$ 281,304	$ 319,770

ASSET RETIREMENT OBLIGATIONS _2

ASSET RETIREMENT OBLIGATIONS (Details Narrative) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Asset Retirement Obligations
Short-term obligations	$ 239,167	$ 0

NOTES PAYABLE AND DEBENTURE (De

NOTES PAYABLE AND DEBENTURE (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended				9 Months Ended
	Oct. 31, 2018	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2019
Common Stock [Member]
Number of shares converted		4,065	25,008	800	5
Discover Growth Fund [Member]
Debt instrument face amount						$ 495,000
Notes interest rate	9.99%
Number of shares issued	80
Conversion premiums shares						38,116
Conversion prices (in dollars per share)						$ 31.25
Discover Growth Fund [Member] | Common Stock [Member]
Conversion price (in dollars per share)	$ 101,562.50
Number of shares issued	5
Number of shares converted	642
Conversion premiums shares	636
Conversion prices (in dollars per share)	$ 1,912.50

DERIVATIVE LIABILITY (Details)

DERIVATIVE LIABILITY (Details) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount at beginning of period	$ 5	$ 5
Change in fair value	$ (5)
Carrying amount at end of period		$ 5

DERIVATIVE LIABILITY (Details N

DERIVATIVE LIABILITY (Details Narrative)	9 Months Ended
	Dec. 31, 2018Number
Expected Term [Member]
Expected life	3 months 22 days
Discount Rate [Member]
Measurement input	0.0220
Volatility [Member]
Measurement input	2.3827
Discount Rate [Member]
Measurement input	0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Sep. 12, 2019	May 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Mar. 31, 2019	Mar. 31, 2018
Settlement payments									$ 204,842
Amount of shares issued						$ 6,000,000	$ 7,000,000	$ 2,000,000
Accrued expenses					$ 250,000				250,000
Asset retirement obligations					281,304	$ 319,770			281,304	$ 303,809	$ 979,159
Net settlement cost					204,842				204,842
Accounts receivable					$ 0				$ 0
Ownership percentage					25.00%				25.00%
Short-Swing Profits [Member]
Date lawsuit filed									October 31, 2019
Name of defendants									PetroGlobe Energy Holdings, LLC and Signal Drilling, LLC, and Petrolia Oil, LLC and Ian Acrey
Lawsuit allegations									Including bringing claims for causes of actions including declaratory judgment (that PetroGlobe and certain other plaintiffs represented that a lease and related wells were free of all agreements and rights in favor of third parties and provided a special warranty of title pursuant to the purchase and sale agreement); breach of contract (in connection with the purchase and sale agreement); statutory fraud; common law fraud (against Mr. Acrey and other plaintiffs); fraud by non-disclosure (against Mr. Acrey and other plaintiffs); negligent misrepresentation (against Mr. Acrey and other plaintiffs); breach of fiduciary duty (against Mr. Acrey and other plaintiffs) and seeking attorney’s fees and pre- and post-judgment interest.
Settlement Agreement [Member] | Petroglobe Energy Holdings, LLC and Signal Drilling, LLC [Member]
Litigation settlement amount				$ 250,000
Settlement Agreement [Member] | Petroglobe Energy Holdings, LLC and Signal Drilling, LLC [Member] | Subsequent Event [Member]
Litigation settlement amount			$ 250,000
Letter Agreement [Member ] | SylvaCap Media [Member]
Number of shares issued		480
Sale Agreement [Member] | N&B Energy [Member]
Settlement payments	$ 706,000
Owned amount	$ 400,000
Joint Operating Agreement [Member] | Apache Corporation [Member]
Damage amount									$ 586,438
Purchase And Sale Agreement [Member] | Petroglobe Energy Holdings, LLC and Signal Drilling, LLC [Member]
Damage amount										$ 600,000
Surety Bond [Member]
Litigation settlement amount									50,000
Oil and Gas Properties [Member]
Litigation settlement amount									$ 70,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Total oil and gas revenue from customers	$ 94,115	$ 127,937	$ 308,219	$ 2,632,099
Natural Gas Sales [Member]
Total oil and gas revenue from customers	9,871	13,114	29,418	753,057
Natural Gas Liquid Sales [Member]
Total oil and gas revenue from customers	15,152	41,522	49,224	1,423,720
Oil Sales [Member]
Total oil and gas revenue from customers	$ 69,092	$ 73,301	$ 229,577	$ 45,532

MERGER AGREEMENT AND DIVESTIT_2

MERGER AGREEMENT AND DIVESTITURE (Details)	9 Months Ended
	Dec. 31, 2019USD ($)
Total consideration	$ 17,100,000
Series E Preferred Stock [Member]
Total consideration	14,666,000
Series F Preferred Stock [Member]
Total consideration	2,434,000
Lineal Star Holdings, LLC [Member]
Total consideration	20,118,000
Lineal Star Holdings, LLC [Member] | Series E Preferred Stock [Member]
Total consideration	18,701,000
Lineal Star Holdings, LLC [Member] | Series F Preferred Stock [Member]
Total consideration	$ 1,417,000

MERGER AGREEMENT AND DIVESTIT_3

MERGER AGREEMENT AND DIVESTITURE (Details 1) - Lineal Star Holdings, LLC [Member]	Jul. 08, 2019USD ($)
Cash	$ 449,763
Accounts receivable	2,776,477
Deferred tax assets	34,000
Cost in excess of billings	944,250
Property and equipment	1,436,920
Right of use asset - operating leases	913,396
Other current assets and deposits	60,132
Goodwill	17,992,118
Accounts payable - trade	(400,889)
Accrued and other liabilities	(893,013)
Operating lease liabilities	(913,396)
Finance lease liabilities	(313,472)
Loan Payable - shareholder	(492,337)
Notes payable	(1,475,949)
Net assets divested	$ 20,118,000

MERGER AGREEMENT AND DIVESTIT_4

MERGER AGREEMENT AND DIVESTITURE (Details 2) - Lineal Star Holdings, LLC [Member]	Dec. 31, 2019USD ($)
Total net consideration	$ 17,100,000
Series E Preferred Stock [Member]
Total net consideration	14,666,000
Series F Preferred Stock [Member]
Total net consideration	$ 2,434,000

MERGER AGREEMENT AND DIVESTIT_5

MERGER AGREEMENT AND DIVESTITURE (Details 3) - Lineal Star Holdings, LLC [Member]	Dec. 31, 2019USD ($)
Cash	$ 2,101,879
Accounts receivable	1,673,538
Deferred tax assets	34,000
Cost in excess of billings	497,340
Property and equipment	1,996,229
Right of use asset - operating leases	710,898
Other current assets and deposits	49,275
Goodwill	18,314,222
Accounts payable - trade	(260,882)
Accrued and other liabilities	(369,448)
Billings in excess of costs	(445,759)
Operating lease liabilities	(710,898)
Finance lease liabilities	(237,925)
Notes payable	(3,545,841)
Net assets divested	$ 19,806,628

MERGER AGREEMENT AND DIVESTIT_6

MERGER AGREEMENT AND DIVESTITURE (Details 4) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Total loss on discontinued operations	$ (710,112)
Lineal Star Holdings, LLC [Member]
Contract revenue	2,821,229	$ 9,106,764
Contract costs	(2,875,530)	(7,772,726)
Depreciation and amortization	(90,415)	(155,282)
Selling, general and administrative	(885,164)	(1,649,643)
Operating loss	(1,029,880)	(470,887)
Other income	9,925	273,037
Interest expense	(1,529)	(113,522)
Net (loss) from discontinued operations	(1,021,484)	(311,372)
Loss on disposal of business	(2,706,628)	(2,706,628)
Change in value of preferred stock	3,018,000	3,018,000
Total loss on discontinued operations	$ (710,112)

MERGER AGREEMENT AND DIVESTIT_7

MERGER AGREEMENT AND DIVESTITURE (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Jul. 08, 2019
Ownership percentage	25.00%	25.00%
Accounts receivable	$ 0	$ 0
Agreement And Plan Of Merger [Member] | Members of Lineal [Member]
Ownership percentage	100.00%	100.00%
Lineal Star Holdings, LLC [Member]
Precantage of debt	18.00%	18.00%
Lineal Star Holdings, LLC [Member] | Funding And Loan Agreement [Member]
Loan amount			$ 1,050,000
Lineal Star Holdings, LLC [Member] | July 2019 Lineal Note [Member]
Loan amount	$ 1,539,719	$ 1,539,719
Maturity start date	Mar. 31, 2020
Maturity end date	Dec. 31, 2021
Interest rate	8.00%	8.00%
Lineal Star Holdings, LLC [Member] | December 2019 Lineal Note [Member]
Loan amount	$ 800,000	$ 800,000
Interest rate	10.00%	10.00%
Accounts receivable	$ 51,656	$ 51,656
Lineal Star Holdings, LLC [Member] | Series E and F Preferred Shares [Member]
Loss on disposal of business		$ 3,018,000

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Tax liability	$ 3,000	$ 3,000

STOCKHOLDERS' EQUITY (DEFICIT_2

STOCKHOLDERS' EQUITY (DEFICIT) (Details)	9 Months Ended
	Dec. 31, 2019$ / sharesshares
Warrants outstanding	36
Warrant - Exercise Price 195,412.50 [Member]
Warrants outstanding	3	[1]
Warrant exercise price | $ / shares	$ 195,412.50
Warrant Expiration date	Sep. 12, 2022
Warrant - Exercise Price 12,187.50 [Member]
Warrants outstanding	32	[2]
Warrant exercise price | $ / shares	$ 12,187.50
Warrant Expiration date	May 24, 2023
Warrant - Exercise Price 1,171,875.00 [Member]
Warrants outstanding	1	[3]
Warrant exercise price | $ / shares	$ 1,171,875
Warrant Expiration date	Apr. 26, 2021
[1]	Warrants issued in connection with the Initial Tranche of the funding from Vantage. The warrants were exercisable on the grant date (September 12, 2017) and remain exercisable until September 12, 2022.
[2]	Warrants issued in connection with the Severance Agreement with Richard N. Azar II. The warrants were exercisable on the grant date (May 25, 2018) and remain exercisable until May 24, 2023.
[3]	Warrants issued in connection with the sale of convertible notes. The warrants were exercisable on the grant date (April 26, 2016) and remain exercisable until April 26, 2021.

STOCKHOLDERS' EQUITY (DEFICIT_3

STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) - USD ($)	Jan. 01, 2020	Oct. 15, 2019	Jul. 08, 2019	May 31, 2019	May 15, 2019	Feb. 13, 2019	Jan. 31, 2019	Nov. 15, 2018	Apr. 20, 2018	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Retained deficit										$ (157,616,709)						$ (157,616,709)		$ (154,218,469)
Percentage of ownership										25.00%						25.00%
Additional Paid-In Capital [Member]
Stock Dividends to be Issued										$ 1,890,887	$ 1,893,886	$ 1,878,055	$ 1,615,886	$ 896,182	$ 698,996	$ 5,662,828	$ 3,211,064
Institutional Investors [Member] | Common Stock [Member]
Number of shares issued									5
Conversion of debt amount									$ 35,000
Discover Growth Fund [Member]
Number of share issued for true ups																29,073
Discover Growth Fund [Member] | Convertible Debenture [Member]
Value of shares issued on conversion																$ 495,000
Regal Consulting, LLC [Member] | Settlement and Mutual Release Agreement [Member]
Number of shares issued		1,514
Consideration for terminate agreement		$ 17,500
Members of Lineal [Member] | Agreement And Plan Of Merger [Member]
Percentage of ownership										100.00%						100.00%
SylvaCap Media [Member] | Letter Agreement [Member ]
Number of shares issued				480
Monthly consideration						$ 50,000
Expense reimbursement																$ 6,250
SylvaCap Media [Member] | Letter Agreement [Member ] | Restricted Common Stock [Member]
Total accrued value of common stock																		261,540
Consultant [Member] | Consulting Agreement [Member]
Monthly consideration								$ 28,000
Consultant [Member] | Consulting Agreement [Member] | Restricted Stock [Member]
Number of shares issued							13	7
Consultant [Member] | Consulting Agreement First Amendment [Member] | Restricted Common Stock [Member]
Number of shares issued																40
Monthly consideration																$ 50,000
Series C Preferred Stock [Member]
Preferred stock value issued										$ 2			$ 2,305			$ 2	$ 2,305	$ 2
Preferred stock, shares outstanding										2,294						2,294		2,305
Preferred stock dividend rate																34.95%		34.95%
Number of shares issued													632	735	210
Value of shares issued on conversion																$ 0
Series C Preferred Stock [Member] | October 2017 Stock Purchase Agreement [Member]
Number of shares issued										632			632				1,577
Series C Preferred Stock [Member] | November 2018 Stock Purchase Agreement [Member]
Number of shares issued													6,000,000				15,000,000
Series C Preferred Stock [Member] | Discover Growth Fund [Member]
Common stock issued on conversion													10				404
Number of shares issued													2,234				4,403
Value of shares issued on conversion													$ 100,000				$ 4,040,000
Percentage of ownership										9.99%						9.99%
Series F Preferred Stock [Member]
Preferred stock, shares outstanding										0						0		0
Series F Preferred Stock [Member] | Members of Lineal [Member] | Agreement And Plan Of Merger [Member]
Number of shares issued			16,750
Series E Preferred Stock [Member]
Preferred stock, shares outstanding										0						0		0
Series E Preferred Stock [Member] | Members of Lineal [Member] | Agreement And Plan Of Merger [Member]
Number of shares issued			1,000,000
Preferred Stock Series B [Member]
Common stock issued on conversion					1
Preferred stock value issued					$ 25,000
Preferred stock, shares outstanding					44,000
Value of shares issued on conversion					$ 25,000
Series C Preferred Stock [Member] | Discover Growth Fund [Member]
Common stock issued on conversion										80,000						110,000
Number of shares issued										3,604,160						4,608,610
Value of shares issued on conversion																$ 777,489
Percentage of ownership										9.99%						9.99%
Number of preferred stock converted										8						11
Series C Preferred Stock [Member] | Discover Growth Fund [Member] | Subsequent Event [Member]
Number of shares issued	290,833
Series B Redeemable Convertible Preferred Stock [Member]
Number of stock dividend issued																1
Preferred stock, shares outstanding																		44,000
Series B Preferred Stock [Member]
Preferred stock value issued																		$ 44
Number of stock dividend issued														1
Preferred stock, shares outstanding										0						0		44,000
Fair value of stock														$ 15,625
Share issued for stock dividend														1
Series B Preferred Stock [Member] | Additional Paid-In Capital [Member]
Retained deficit														$ 882
Series D Preferred Stock [Member]
Preferred stock, shares outstanding										0						0		0
Series A Preferred Stock [Member]
Preferred stock, shares outstanding										0						0		0

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - $ / shares	9 Months Ended
	Dec. 31, 2019	Mar. 31, 2019
Options outstanding
Exercise price	$ 40,429,700
Remaining Life	9 months
Options Outstanding	2	2
Options Exercisable	2

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Number of stock option outstanding	2		2
Stock option, weighted average exercise price	$ 40,429,700		$ 40,429,700
Share base compensation	$ 0	$ 0
Stock options exercised	0
Stock options forfeited	0

INCOME (LOSS) PER COMMON SHAR_2

INCOME (LOSS) PER COMMON SHARE (Details) - USD ($)	3 Months Ended						9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Income (loss) before discontinued operations	$ (1,123,566)			$ (1,586,084)			$ (3,398,240)	$ 18,130,185
Discontinued operations	(710,112)
Net income (loss)	(1,833,678)	$ (276,964)	$ (1,287,598)	(1,586,084)	$ 23,228,366	$ (3,512,097)	(3,398,240)	18,130,185
Less preferred dividends	(1,890,887)			(1,615,886)			(5,662,828)	(3,211,064)
Net income (loss) attributable to common stockholders	$ (3,724,565)			$ (3,201,970)			$ (9,061,068)	$ 14,919,121
Denominator
Weighted average share - basic (in shares)	2,937,254			4,000			1,155,285	1,869
Dilutive effect of common stock equivalents
Options/warrants								$ 494
Preferred C shares								$ 25,827
Denominator
Total Weighted average shares - diluted (in shares)	2,937,254			4,000			1,155,285	28,190
Income (loss) per share - basic
Continuing operations	$ (1.03)			$ (800.49)			$ (7.84)	$ 7,982.41
Discontinued operations	(.24)
Total	(1.27)			(800.49)			(7.84)	7,982.41
Income (loss) per share - diluted
Continuing Operations	(1.03)			(800.49)			(7.84)	529.23
Discontinued operations	(0.24)
Total	$ (1.27)			$ (800.49)			$ (7.84)	$ 529.23

INCOME (LOSS) PER COMMON SHAR_3

INCOME (LOSS) PER COMMON SHARE (Details 1) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Total	1,123,373,173	33,356,551	1,123,373,173
Series C Preferred Stock [Member]
Total	1,123,372,859	32,284,833	1,123,372,859
Convertible Debt [Member]
Total	276		276
Options and Warrants [Member]
Total	38	10,717,182	38

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Supplemental cash flow information
Interest	$ 14,771	$ 842,520
Change in Accounts Payable for Accrued Capital Expenditures		547,033
Settlement of Common Stock Payable	331,030	200,000
Change in Estimate for Asset Retirement Obligations	25,425	35,422
Stock Dividends Distributable but not Issued	5,662,828	3,211,064
Issuance of Stock Dividends	3	2,699
Conversion of Convertible Notes to Common Stock		917,104
Conversion of Preferred Stock to Common Stock	4,653	122,070
Common Stock Issued in Abeyance	$ 29	$ 308

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	9 Months Ended
	Dec. 31, 2019	Mar. 31, 2019
Liabilities:
Derivative liability		$ 5
Total liabilities at fair value		5
Total liabilities and mezzanine equity at fair value	$ 17,100,000
Series E Preferred Stock [Member]
Liabilities:
Total liabilities and mezzanine equity at fair value	14,666,000
Series F Preferred Stock [Member]
Liabilities:
Total liabilities and mezzanine equity at fair value	2,434,000
Level 3 [Member]
Liabilities:
Derivative liability		5
Total liabilities at fair value		$ 5
Total liabilities and mezzanine equity at fair value	17,100,000
Level 3 [Member] | Series E Preferred Stock [Member]
Liabilities:
Total liabilities and mezzanine equity at fair value	14,666,000
Level 3 [Member] | Series F Preferred Stock [Member]
Liabilities:
Total liabilities and mezzanine equity at fair value	$ 2,434,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Feb. 03, 2020USD ($)Number$ / sharesshares	Jan. 01, 2020shares	Dec. 31, 2019shares	Sep. 30, 2019shares	Dec. 31, 2018USD ($)shares	Sep. 30, 2018USD ($)shares	Jun. 30, 2018USD ($)shares	Dec. 31, 2019shares	Dec. 31, 2018shares	Oct. 28, 2019shares	Apr. 10, 2019shares	Mar. 31, 2019shares	Dec. 20, 2018shares	Dec. 19, 2018shares
Subsequent Event [Line Items]
Number of shares issued value | $					$ 6,000,000	$ 7,000,000	$ 2,000,000
Ownership percentage			25.00%					25.00%
Common Stock, authorized			5,000,000					5,000,000		250,000,000	20,000,000	5,000,000	200,000,000	500,000,000
Series C Preferred Stock [Member]
Subsequent Event [Line Items]
Number of shares issued					632	735	210
Number of shares issued value | $						$ 1
Conversion of Series C Preferred Stock (in shares)			(8)	(3)	(10)	(143)	(251)
Series C Preferred Stock [Member] | Discover Growth Fund [Member]
Subsequent Event [Line Items]
Number of shares issued					2,234				4,403
Ownership percentage			9.99%					9.99%
Series C Preferred Stock [Member] | Discover Growth Fund [Member]
Subsequent Event [Line Items]
Number of shares issued			3,604,160					4,608,610
Ownership percentage			9.99%					9.99%
Subsequent Event [Member] | Viking's Subsidiary Elysium Energy, LLC [Member]
Subsequent Event [Line Items]
Ownership percentage	25.00%
Principal amounts | $	$ 5,000,000
Subsequent Event [Member] | Camber Viking Investment [Member]
Subsequent Event [Line Items]
Ownership percentage	10.50%
Principal amounts | $	$ 500,000
Conversion price (in dollare per shares) | $ / shares	$ 0.24
Subsequent Event [Member] | Waiver and Amendment Agreement [Member]
Subsequent Event [Line Items]
Common Stock, authorized	25,000,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Average daily price | $ / shares	$ 0.55
Consecutive business days | Number	15
Increased (decreased) ownership percentage	(9.99%)
Subsequent Event [Member] | Common Stock [Member] | Minimum [Member]
Subsequent Event [Line Items]
Ownership percentage	4.99%
Subsequent Event [Member] | Series C Preferred Stock [Member] | 2020 Stock Purchase Agreement [Member]
Subsequent Event [Line Items]
Ownership percentage	110.00%
Principal amounts | $	$ 10,000
Subsequent Event [Member] | Series C Preferred Stock [Member] | Discover Growth Fund [Member]
Subsequent Event [Line Items]
Number of shares issued		290,833
Subsequent Event [Member] | Series C Preferred Stock [Member] | Camber Viking Investment [Member]
Subsequent Event [Line Items]
Number of shares issued	525
Subsequent Event [Member] | Series C Preferred Stock [Member] | 2020 Stock Purchase Agreement [Member]
Subsequent Event [Line Items]
Number of shares issued	525
Number of shares issued value | $	$ 5,000,000
Original issue discount	5.00%