Texas South Energy (TXSO) 10-Q 16 Mar 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 31, 2016	Mar. 10, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Texas South Energy, Inc.
Entity Central Index Key	1,506,742
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Document Type	10-Q
Document Period End Date	Jan. 31, 2016
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		432,865,670

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Jan. 31, 2016	Oct. 31, 2015
CURRENT ASSETS
Cash	$ 556	$ 2,135
Prepaid expenses		3,948
Investment securities - available for sale	$ 97,500	235,000
TOTAL CURRENT ASSETS	98,056	241,083
Oil and gas properties	10,387,865	10,375,955
TOTAL ASSETS	10,485,921	10,617,038
CURRENT LIABILITIES
Accounts payable	40,617	5,479
Accrued expenses	278,741	191,831
Accrued expenses - related party	496,953	475,125
Notes payable	1,100,000	1,100,000
Due to related party	52,152	70,070
TOTAL CURRENT LIABILITIES	1,968,463	1,842,505
Notes payable - long term	700,000	700,000
TOTAL LIABILITIES	$ 2,668,463	$ 2,542,505
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock 50,000,000 shares preferred stock authorized, none issued and outstanding
Common stock 950,000,000 shares common stock authorized, $0.001 par value, 432,865,670 and 362,215,670 shares of common stock issued and outstanding, for January 31, 2016 and October 31, 2015, respectively	$ 432,865	$ 362,215
Additional paid-in capital	$ 14,575,971	13,233,296
Additional paid-in capital - shares to be issued		1,297,000
Accumulated other comprehensive income	$ (170,500)	(33,000)
Accumulated deficit	(7,020,878)	(6,784,978)
Total stockholders' equity	7,817,458	8,074,533
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 10,485,921	$ 10,617,038

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2016	Oct. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized	950,000,000	950,000,000
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares issued	432,865,670	362,215,670
Common stock, shares outstanding	432,865,670	362,215,670

Statements of Operations and Co

Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
EXPENSES
General and administrative expenses	$ 190,106	$ 183,025
LOSS FROM OPERATIONS	(190,106)	(183,025)
Interest expense	(45,794)	(14,592)
NET LOSS	(235,900)	(197,617)
Other comprehensive loss:
Unrealized loss on securities available for sale	(137,500)	(425,000)
Total comprehensive loss	$ (373,400)	$ (622,617)
NET LOSS PER COMMON SHARE
Basic and diluted	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic and diluted	397,545,018	362,215,670

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (235,900)	$ (197,617)
Adjustments to reconcile net loss to net cash used in operating activities
Non-cash interest	$ 325
Amortization of debt discount		$ 14,592
Changes in operating assets and liabilities
Change in prepaid expenses	$ 3,948
Change in accounts payable and accrued expenses	122,048	$ 35,680
Change in accrued expenses - related party	21,828	70,000
NET CASH USED IN OPERATING ACTIVITIES	(87,751)	$ (77,345)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of oil and gas property	(11,910)
NET CASH USED IN INVESTING ACTIVITIES	(11,910)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of notes payable - related party	46,734
Repayment of notes payable - related party	(64,652)
Proceeds from sale of common stock (issued)	116,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	98,082
NET DECREASE IN CASH	(1,579)	$ (77,345)
CASH, BEGINNING OF PERIOD	2,135	84,482
CASH, END OF PERIOD	$ 556	$ 7,137
Cash paid for:
Interest
Income taxes
Unrealized loss on securities:
Available for sale	$ (137,500)	$ (425,000)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Jan. 31, 2016
Nature of Operations and Basis of Presentation [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION Texas South Energy, Inc. (the “Company”) was incorporated pursuant to the laws of the State of Nevada on March 15, 2010. The Company had initially intended to commence business operations by producing and performing traditional Peruvian dances both in Peru and the United States. On September 24, 2013, there was a change in control of the Company. The Company is engaged in the oil and gas business. The Company has limited operating history and has earned no revenues. The Company has devoted its activities to the acquisition of oil and gas assets. The Company and has incurred losses since inception of $7,020,878. The Company has established a fiscal year end of October 31.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jan. 31, 2016
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements have been prepared in all material respects in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying unaudited financial statements have been prepared on the same basis as the audited financial statements for the year ended October 31, 2015. Because certain information and footnote disclosures have been condensed or omitted, these unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto as of and for the year ended October 31, 2015, which are included in the Company’s annual report for the year ended October 31, 2015 (the “2015 Annual Report”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. Management believes that the disclosures made in these unaudited financial statements are adequate to make the information not misleading. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s 2015 Annual Report. Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that such estimates are reasonable when considered in conjunction with the financial position and results of operations taken as a whole, actual results could differ from those estimates, and such differences may be material to the financial statements. Basic and Diluted Net Loss per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued its final standard on revenue from contracts with customers. The standard, issued as Accounting Standards Update (“ASU”) No. 2014-09: Revenue from Contracts with Customers (Topic 606) In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) which requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, this standard provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early application is permitted. The Company is currently evaluating the accounting impact that this pronouncement will have on its financial statements. Other new pronouncements issued but not effective until after January 31, 2016 are not expected to have a material impact on the Company’s financial position, results of operations, or cash flows.

Going Concern

Going Concern	3 Months Ended
	Jan. 31, 2016
Going Concern [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have sufficient cash, nor does it have operations or a source of revenue sufficient to cover its operational costs in order to allow it to continue as a going concern. The Company has accumulated losses as of January 31, 2016, of $7,020,878. The Company will be dependent upon the raising of additional capital through the best-efforts placement of its equity and/or debt securities in order to implement its business plan. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

Oil & Gas Properties

Oil & Gas Properties	3 Months Ended
	Jan. 31, 2016
Oil & Gas Properties [Abstract]
OIL & GAS PROPERTIES	NOTE 4 – OIL & GAS PROPERTIES On January 22, 2014, the Company entered into a contract for sale with the owner of mineral interests in 86.69 acres in Lavaca County, Texas (the “Acreage”) pursuant to which the Company acquired a 37.5% interest in the Acreage’s mineral rights, including the oil and gas rights (the “Acquired Interest”). In exchange for the Acquired Interest, the Company paid the seller $270,000 in cash and issued the seller 2,000,000 shares of the Company’s common stock, valued at $100,000. One drilled well is producing, but the Company does not expect significant income due to current market conditions. On March 10, 2014, the Company entered into a farm out letter agreement with GulfSlope Energy, Inc. (“GulfSlope”), relating to certain prospects located within 2.2 million acres of 3D seismic licensed and interpreted by GulfSlope. At the time the farm out agreement was entered into, the Company’s chief executive officer and sole director, Mr. Askew, was also a director of GulfSlope. Mr. Askew resigned as a director of GulfSlope effective March 27, 2014. Under the terms of the farm-out letter agreement, as amended in September 2015, the Company acquired contractual rights to a 20% working interest in six prospects for aggregate consideration of $10,000,000. In accordance with the agreement, the Company will pay its proportionate share of the net rental costs related to the prospects. GulfSlope is the operator of record and has the right to negotiate all future joint operating agreements. The mineral interests are unproved as of January 31, 2016.

Common Stock

Common Stock	3 Months Ended
	Jan. 31, 2016
Common Stock [Abstract]
COMMON STOCK	NOTE 5 – COMMON STOCK During September and October 2015, the Company received cash of $1,297,000 for the issuance of 64,850,000 shares at $0.02 per share. The shares were issued in December 2015. In December 2015, the Company received cash and services of $116,000 for the issuance of 5,800,000 shares at $0.02 per share, which were issued in December 2015 and January 2016. As of January 31, 2016, the Company has not granted any stock options.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jan. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS As of January 31, 2016 and October 31, 2015, the Company had received advances from a prior director in the amount of $52,152. The amounts due to the related party remain outstanding, unsecured due on demand and non-interest bearing with no set terms of repayment. These advances are recorded within the ‘Due to related party’ line on the balance sheet. In September 2013, the Company entered into a one-year employment agreement with its director and chief executive officer James Askew. The agreement provided for a one-time issuance of 69,000,000 shares of common stock, $75,000 cash signing bonus, and $35,000 cash compensation per month. Per the agreement, Mr. Askew was paid a $75,000 cash bonus in September 2013, and issued 69,000,000 shares of the Company’s common stock in September 2013. In March 2014, Company entered into an indemnification agreement with Mr. Askew tracking the statutory provisions of the Nevada Statutes and extended the term of the agreement for one year. In September 2015, James Askew’s employment agreement was further amended to extend the term of the agreement to September 30, 2018. As of January 31, 2016, the Company had not paid Jim Askew $455,000 in accordance with his employment agreement and this amount is accrued within ‘Accrued expenses – related party’ on the balance sheet. In March 2014, the Company acquired 5,000,000 shares of restricted GulfSlope common stock from the Company’s sole officer and director James Askew for a purchase price of $268,000. At the time of the acquisition, Mr. Askew was also a director of GulfSlope. Mr. Askew resigned as a director of GulfSlope effective March 27, 2014. During the three months ended January 31, 2016, the Company recorded an unrealized loss of $137,500 to adjust the investment securities to fair market value. In October 2015 and November 2015, the Company entered into related party promissory note payable agreements with its director and chief executive officer James Askew for $82,918 and $46,734, respectively. As of October 31, 2015, the outstanding principal balance was $17,918. During the three months ended January 31, 2016, the Company made payments of $64,652, which extinguished the principle balances for both promissory notes. As of January 31, 2016, the Company had $41,400 accrued within the ‘Accrued expenses – related party’ line on the balance sheet related to various vendor payments made on behalf of the Company by the Company’s chief executive officer and sole director.

Notes Payable

Notes Payable	3 Months Ended
	Jan. 31, 2016
Notes Payable [Abstract]
NOTES PAYABLE	NOTE 7 – NOTES PAYABLE Effective June 2014, Texas South Energy, Inc. entered into a subscription agreement with an accredited investor under which the Company issued (i) a promissory note in the original principal amount of $1,000,000, and (ii) a one-year warrant to purchase 2,000,000 shares of the Company’s common stock at an exercise price of $0.25 per share with a fair value of $58,367. The promissory note bears interest at a fixed rate of 10% per annum. In June 2015, the subscription agreement was amended to extend the maturity date from June 30, 2015 to June 30, 2016 and increase the principal amount of the note to $1,100,000. As of January 31, 2016, the outstanding principal balance was $1,100,000 and is included in ‘Notes payable’ as a current liability on the Company’s balance sheet. In October 2015 and November 2015, the Company entered into related party promissory notes payable agreements with its director and chief executive officer James Askew. During the three months ended January 31, 2016, the principal balances were repaid in full by the Company (see Note 6 – Related Party Transactions). In October 2015, the Company entered into a note payable agreement with an accredited investor for $700,000. The note expires on October 1, 2017 and bears interest at a fixed rate of 10% per annum. As of January 31, 2016, the outstanding principal balance of $700,000 is included in ‘Notes payable – long term’ on the Company’s balance sheet.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jan. 31, 2016
Fair Value of Financial Instruments [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 8 – FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments are cash, accounts payable, and investment securities. The recorded values of cash and accounts payable approximate their fair values based on their short-term nature. The Company’s Level 2 asset consists of investment securities. The fair value of investment securities (common stock in GulfSlope) is based on $0.02 per share, derived from recent GulfSlope private placement financing transactions. The GulfSlope common stock is thinly traded, resulting in the private placement transactions providing the most reliable measurement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jan. 31, 2016
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES In September 2013, the Company entered into a one-year employment arrangement with its director and chief executive officer James Askew. Among other compensation (see Note 6 – Related Party Transactions above), the agreement provided for $35,000 cash compensation per month and a sign-on bonus of $75,000. Mr. Askew was also issued 69,000,000 shares of common stock (after giving effect to the 3-for-1 forward split effected in November 2013) for services rendered. In October 2013, the Company awarded a $600,000 bonus to James Askew, for his success in raising capital for the Company prior to October 31, 2013 (this bonus is in addition to the compensation set forth in section 4 of Mr. Askew’s employment agreement). In March 2014, this agreement was extended for one year and in September 2015, James Askew’s employment agreement was further amended to extend the term of the agreement to September 30, 2018. On October 11, 2013, the Company entered into a consulting agreement with John B. Connally, III. The agreement provided for a one-time issuance of 60,000,000 shares of common stock, $25,000 cash signing bonus, and $10,000 cash compensation per month. The stock was issued in November 2013. In September 2015, the Company amended the consulting agreement to extend the term of the consulting agreement to December 31, 2016.

Subsequent Events

Subsequent Events	3 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS On February 18, 2016, the Company sold 5,000,000 shares of GulfSlope common stock valued at $97,500 on January 31, 2016 for gross sales proceeds of $50,000. On March 11, 2016, the holder of the note in the principal amount of $1,100,000 extended the maturity date from June 31, 2016 to October 1, 2017.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements have been prepared in all material respects in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying unaudited financial statements have been prepared on the same basis as the audited financial statements for the year ended October 31, 2015. Because certain information and footnote disclosures have been condensed or omitted, these unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto as of and for the year ended October 31, 2015, which are included in the Company’s annual report for the year ended October 31, 2015 (the “2015 Annual Report”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. Management believes that the disclosures made in these unaudited financial statements are adequate to make the information not misleading. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s 2015 Annual Report.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that such estimates are reasonable when considered in conjunction with the financial position and results of operations taken as a whole, actual results could differ from those estimates, and such differences may be material to the financial statements.
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued its final standard on revenue from contracts with customers. The standard, issued as Accounting Standards Update (“ASU”) No. 2014-09: Revenue from Contracts with Customers (Topic 606) In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) which requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, this standard provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early application is permitted. The Company is currently evaluating the accounting impact that this pronouncement will have on its financial statements. Other new pronouncements issued but not effective until after January 31, 2016 are not expected to have a material impact on the Company’s financial position, results of operations, or cash flows.

Nature of Operations and Basi17

Nature of Operations and Basis of Presentation (Details) - USD ($)	Jan. 31, 2016	Oct. 31, 2015
Nature of Operations and Basis of Presentation (Textual)
Accumulated deficit	$ (7,020,878)	$ (6,784,978)

Going Concern (Details)

Going Concern (Details) - USD ($)	Jan. 31, 2016	Oct. 31, 2015
Going Concern (Textual)
Deficit accumulated during the exploration stage	$ (7,020,878)	$ (6,784,978)

Oil & Gas Properties (Details)

Oil & Gas Properties (Details)	Jan. 22, 2014USD ($)ashares	Jan. 31, 2016USD ($)	Jan. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Mar. 10, 2014a
Oil & Gas Properties (Textual)
Acres in Acreage's mineral | a	86.69
Percentage of interest acquired in Acreage's mineral	37.50%
Cash paid for interest acquired	$ 270,000	$ 11,910
Number of shares issued to interest acquired | shares	2,000,000
Number of shares issued to interest acquired, value	$ 100,000
Gulfslope Energy Inc [Member]
Oil & Gas Properties (Textual)
Acres in Acreage's mineral | a					2,200,000
Working interest acquired				20.00%
Aggregate consideration amount				$ 10,000,000

Common Stock (Details)

Common Stock (Details) - USD ($)	1 Months Ended
	Dec. 31, 2015	Oct. 31, 2015	Sep. 30, 2015
Common Stock [Abstract]
Issuance of common stock for cash, shares		64,850,000	64,850,000
Issuance of common stock for cash		$ 1,297,000	$ 1,297,000
Common stock price per share	$ 0.02	$ 0.02	$ 0.02
Issuance of common stock for cash and services	$ 116,000
Issuance of common stock for cash and services, shares	5,800,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 30, 2013	Nov. 30, 2015	Oct. 31, 2015	Sep. 30, 2015	Mar. 31, 2014	Oct. 31, 2013	Jan. 31, 2016	Jan. 31, 2015
Related Party Transaction [Line Items]
Due to related party			$ 70,070				$ 52,152
Unrealized loss on securities available for sale							137,500
Proceeds from issuance of notes payable - related party							46,734
Accrued expenses - related party							41,400
Repayment of notes payable - related party							64,652
Gulfslope Energy Inc [Member] | Restricted Stock [Member]
Related Party Transaction [Line Items]
Purchase price of restricted common stock acquired					$ 268,000
Number of restricted common stock acquired					5,000,000
James Askew [Member]
Related Party Transaction [Line Items]
Shares issued as compensation	69,000,000
Bonus paid in cash	$ 75,000					$ 600,000
Compensation paid in cash	$ 35,000
Term of employment agreement	1 year
Employment agreement expiration date, Description				Employment agreement was further amended to extend the term of the agreement to September 30, 2018.
Term of indemnification agreement					1 year
Outstanding principal amount			17,918
Proceeds from issuance of notes payable - related party		$ 46,734	$ 82,918
Accrued expenses - related party							$ 455,000

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended
	Oct. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Jan. 31, 2016
Note Payable (Textual)
Interest rate	10.00%
Maturity date	Oct. 1, 2017
Notes payable	$ 1,100,000			$ 1,100,000
Notes payable outstanding principal balance long term	$ 700,000			$ 700,000
Subscription Arrangement [Member]
Note Payable (Textual)
Promissory notes payable			$ 1,000,000
Term of warrant			1 year
Warrant to purchase of common stock			2,000,000
Common stock exercise price			$ 0.25
Fair value of warrant			$ 58,367
Interest rate			10.00%
Maturity date, Description		Maturity date from June 30, 2015 to June 30, 2016.
Increase in principal amount of note		$ 1,100,000

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Details)	3 Months Ended
	Jan. 31, 2016$ / shares
Level 2 [Member]
Fair Value of Financial Instruments (Textual)
Fair value of investment securities per share	$ 0.02

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Oct. 11, 2013	Sep. 30, 2013	Dec. 31, 2015	Sep. 30, 2015	Mar. 31, 2014	Nov. 30, 2013	Oct. 31, 2013
Commitments and Contingencies (Textual)
Stock issued for services rendered, shares			5,800,000
John B. Connally III [Member] | Consulting Agreement [Member]
Commitments and Contingencies (Textual)
Shares issued as compensation	60,000,000
Bonus paid in cash	$ 25,000
Compensation paid in cash	$ 10,000
Consulting agreement expiration date, Description				Consulting agreement to extend the term of the consulting agreement to December 31, 2016.
Stock issuance date	Nov. 30, 2013
James Askew [Member]
Commitments and Contingencies (Textual)
Term of employment agreement		1 year
Shares issued as compensation		69,000,000
Bonus paid in cash		$ 75,000					$ 600,000
Compensation paid in cash		$ 35,000
Employment agreement expiration date, Description				Employment agreement was further amended to extend the term of the agreement to September 30, 2018.
Term of indemnification agreement					1 year
Stock issued for services rendered, shares		69,000,000
Forward split						3-for-1 forward split

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Mar. 11, 2016	Feb. 18, 2016	Oct. 31, 2015	Sep. 30, 2015	Jan. 31, 2016	Jan. 31, 2015
Subsequent Event (Textual)
Issuance of common stock			$ 1,297,000	$ 1,297,000
Issuance of common stock, shares			64,850,000	64,850,000
Gross proceeds from sale of common stock					$ 116,000
Subsequent Event [Member]
Subsequent Event (Textual)
Principal amount	$ 1,100,000
Maturity date, Description	Maturity date from June 31, 2016 to October 1, 2017.
Subsequent Event [Member] | Gulfslope Energy Inc [Member]
Subsequent Event (Textual)
Issuance of common stock		$ 97,500
Issuance of common stock, shares		5,000,000
Gross proceeds from sale of common stock		$ 50,000