Zonzia Media (ZONX) 10-K 16 Apr 14 2012 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2012	Apr. 15, 2014	Jun. 30, 2012
Document And Entity Information	'	'	'
Entity Registrant Name	'Indigo-Energy, Inc.	'	'
Entity Central Index Key	'0000356870	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-12	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Is Entity a Well-known Seasoned Issuer?	'No	'	'
Is Entity a Voluntary Filer?	'No	'	'
Is Entity's Reporting Status Current?	'No	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Public Float	'	'	$1,677,140
Entity Common Stock, Shares Outstanding	'	1,187,956,895	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2012	'	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Current Assets	'	'	'
Cash and cash equivalents	$0	$0	$0
Prepaid expenses	0	0	82,047
Total current assets	0	0	82,047
Proved oil and gas properties, net	0	0	408,853
Unproved oil and gas properties	0	1,680,350	4,861,802
Other Assets	'	'	'
Deferred debt issuance costs and other assets	17,487	42,962	64,925
Total assets	17,487	1,723,312	5,417,627
Current Liabilities	'	'	'
Accounts payable	1,014,585	977,381	918,028
Accrued expenses	0	1,846,984	3,115,454
Accrued interest	3,101,607	1,942,823	963,621
Reclamation liability	0	0	309,374
Promissory and other notes payable, net	8,389,909	7,863,731	7,264,240
Total current liabilities	12,506,101	12,630,919	12,570,717
Commitments and Contingencies	'	'	'
Stockholders' Equity (Deficit)	'	'	'
Common stock, $.001 par value, 2,000,000,000 shares authorized and 1,187,956,895 and 1,187,956,895 and 924,074,008 shares issued and outstanding at December 31, 2012 and December 31, 2011 and 2010, respectively	1,187,956	1,187,956	924,074
Additional paid in capital	80,642,231	80,642,231	79,754,035
Accumulated deficit	-94,318,801	-92,737,794	-87,831,199
Total stockholders' equity (deficit)	-12,488,614	-10,907,607	-7,153,090
Total liabilities and stockholders' equity (deficit)	$17,487	$1,723,312	$5,417,627

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Statement of Financial Position [Abstract]	'	'	'
Common stock par value	$0.00	$0.00	$0.00
Common stock shares authorized	2,000,000,000	2,000,000,000	2,000,000,000
Common stock shares issued	1,187,956,895	1,187,956,895	1,187,956,895
Common stock shares outstanding	924,074,008	924,074,008	924,074,008

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue	'	'	'
Net revenue	$0	$0	$155,011
Expenses	'	'	'
Operating expenses	0	166,625	260,303
General and administrative	21,740	78,835	459,914
Professional fees	0	314,727	1,361,960
Impairment of unproved oil and gas properties	0	2,883,033	0
(Gain) loss on abandonment of assets	0	-338,095	0
Total operating expenses	21,740	3,105,125	2,082,177
Gain (loss) from operations	-21,740	-3,105,125	-1,927,166
Other income (expense)	'	'	'
Interest expense	-2,222,884	-2,191,526	-3,625,271
Financing expense	0	-914,487	0
Gain (loss) of settlement of obligations	663,617	1,092,135	-1,206,971
Change in fair value of derivatives	0	212,408	610,645
Total other expenses	-1,559,267	-1,801,470	-4,221,597
Net loss	($1,581,007)	($4,906,595)	($6,148,763)
Net loss per share - basic and diluted	$0	$0	($0.01)
Weighted average shares outstanding	1,187,956,895	1,025,864,383	837,668,917

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders Equity (USD $)	Common Stock	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Beginning balance, value at Dec. 31, 2010	$924,074	$79,754,035	($87,831,199)	($7,153,090)
Beginning balance, shares at Dec. 31, 2010	924,074,008	'	'	'
Common stock issued for services, shares	4,197,054	'	'	'
Common stock issued for services, value	4,198	33,756	'	37,954
Common stock issued for notes payable, shares	219,083,333	'	'	'
Common stock issued for notes payable, value	219,083	717,545	'	936,628
Common stock issued for settlement of professional fees, shares	28,011,168	'	'	'
Common stock issued for settlement of professional fees, value	28,010	136,895	'	164,905
Shares issued for interest, shares	12,591,332	'	'	'
Shares issued for interest, value	12,591	'	'	12,591
Net loss	'	'	-4,906,595	-4,906,595
Ending balance, value at Dec. 31, 2011	1,187,956	80,642,231	-92,737,794	-10,907,607
Ending balance, shares at Dec. 31, 2011	1,187,956,895	'	'	'
Net loss	'	'	-1,581,007	-1,581,007
Ending balance, value at Dec. 31, 2012	$1,187,956	$80,642,231	($94,318,801)	($12,488,614)
Ending balance, shares at Dec. 31, 2012	1,187,956,895	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash Flows from Operating Activities	'	'	'
Net loss	($1,581,007)	($4,906,595)	($6,148,763)
Adjustments to reconcile net income to net cash provided by operating activities:	'	'	'
Stock based compensation	0	37,954	404,770
(Gain) loss on abandonment of assets	0	-338,095	0
Non-cash finance fees	0	914,487	609,083
Gain on change in fair value of derivatives	0	-212,408	-610,645
Debt discount and deferred issuance cost amortization	987,230	1,033,121	2,091,219
Impairment of unproved oil and gas properties	0	2,883,033	0
Depletion	0	0	17,782
(Gain) loss on settlement of obligations	-663,617	-1,092,135	1,206,971
Change in accounts receivable	0	0	7,960
Change in prepaid expenses	0	43,545	-43,545
Change in accounts payable	0	-59,353	-1,985,626
Change in accrued expenses	0	185,632	2,439,043
Change in accrued interest	1,235,654	1,145,814	523,272
Net cash used in operating activities	-21,740	-365,000	-1,066,999
Cash Flows from Investing Activities	'	'	'
Increase in reclamation bond obligation	0	0	-279,794
Acquisition of unproved oil and gas properties	0	0	-1,118,066
Net cash used in investing activities	0	0	-1,397,860
Cash Flows from Financing Activities	'	'	'
Proceeds from promissory and other notes payable	21,740	365,000	2,053,817
Net cash provided by financing activities	21,740	365,000	2,053,817
Net increase in cash and cash equivalents	0	0	-411,042
Cash and cash equivalents at beginning of the period	0	0	411,042
Cash and cash equivalents at end of the period	0	0	0
Supplementary Disclosures of Cash Flow Information	'	'	'
Cash paid for income taxes	0	0	0
Cash paid for interest	0	0	0
Non-Cash Investing and Financing Activities	'	'	'
Non-cash settlement of promissory and other notes and accrued interest	534,187	833,279	0
Common stock issued for settlement of promissory notes	$534,187	$110,000	$3,054,952

1_Description_of_Business

1. Description of Business	12 Months Ended
	Dec. 31, 2012
Accounting Policies [Abstract]	'
1. Description of Business	'
	Indigo-Energy, Inc. (the “Company” or “Indigo” or “We”) was originally incorporated in 1993. In December 2005, following a recapitalization that resulted in a change of control, Indigo was an independent energy company that engaged primarily in the exploration of natural gas and oil in the Appalachian Basin in Pennsylvania, West Virginia, Illinois, and Kentucky through December 2010.  These activities were carried out on leased properties, some of which were proven, primarily through the entry into joint venture and other operating agreements.
	Upon the July 29, 2013 change in control and emergence from the New Jersey Superior court appointed receivership, the Company has been engaged in organizational efforts and re-establishing its regulatory compliance. Subsequent to the Company’s newly established inception date of August 1, 2013, the Company’s objective is to seek the acquisition of, or merger with, an existing operating company.

2_Summary_of_Significant_Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2012
Accounting Policies [Abstract]	'
2. Summary of Significant Accounting Policies	'
	Basis of Presentation
	The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and have been presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements have not been audited.
	Consolidated Financial Statements
	The consolidated financial statements include the accounts of Indigo and Indigo Energy Partners, LP (“Indigo LP”).   All intercompany transactions and balances have been eliminated in consolidation.
	Exploration Stage Enterprise
	For the periods presented, the Company was not considered an exploration stage enterprise as defined by GAAP. Subsequent to December 31, 2012, the Company re-entered the exploration / development stage since all of the prior business activities were abandoned and settled as of December 31, 2012.
	Use of Estimates
	The preparation of financial statements in conformity with US 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 periods. Management periodically reviews its estimates, including those related to the impairment and abandonment of its oil and gas leasehold interests, and the recognition of certain debt discount amortization with estimated effective interest rates, and the valuation of restricted equity instruments in an illiquid market. Actual results could differ from those estimates.
	Oil and Gas Properties
	The Company accounted for oil and gas properties and interests under the full cost method. Under the full cost method, all acquisition, exploration and development costs incurred for the purpose of finding oil and gas are capitalized and accumulated in pools on a country-by-country basis. The prior exploration activities were only in the United States and therefore utilized a single cost center.
	Capitalized costs include the cost of drilling and equipping productive wells, including the estimated costs of dismantling and abandoning these assets, dry hole costs, lease acquisition costs, seismic and other geological and geophysical costs, delay rentals and costs related to such activities. Employee costs associated with production and other operating activities and general corporate activities were expensed in the period incurred. During the year ended December 31, 2011, all proven properties were either fully impaired or abandoned.
	Unproved property costs include the costs associated with unevaluated properties and are not included in the full cost amortization base (where proved reserves exist) until the project is evaluated. These costs include unproved leasehold acreage, seismic data, wells in progress and wells pending determination, together with interest costs capitalized for these projects. Significant unproved properties are assessed periodically, but not less than annually, for possible impairment or reduction in value. Impairment of unproved properties is based on factors such as the existence of events that may serve to impair the properties such as failure of a well, expiration of leases, and comparison of the carrying value of oil and gas properties with their fair value at the end of the reporting period. If a reduction in value has occurred, these property costs are considered impaired and are transferred to the related full cost pool. Geological and geophysical costs included in unproved properties are transferred to the full cost amortization base along with the associated leasehold costs on a specific project basis. Costs associated with wells in progress and wells pending determination are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry holes are transferred to the amortization base immediately upon determination that the well is unsuccessful. Unproved properties whose acquisition costs are not individually significant are aggregated and the portion of such costs estimated to be ultimately nonproductive, based on experience, are amortized to the full cost pool over an average holding period.
	In situations where the existence of proved reserves has not yet been determined, unevaluated property costs remain capitalized in unproved property cost centers until proved reserves have been established, exploration activities cease or impairment and reduction in value occurs. If exploration activities result in the establishment of a proved reserve base, amounts in the unproved property cost center are reclassified as proved properties and become subject to amortization and the application of the ceiling test. When it is determined that the value of unproved property costs have been permanently diminished (in part or in whole) based on the impairment evaluation and future exploration plans, the unproved property cost centers related to the area of interest are impaired, and accumulated costs charged against earnings. As of December 31, 2012, the Company’s unproved properties were full abandoned.
	Revenue Recognition
	Oil and gas revenues were recognized when production was sold to a purchaser at a fixed or determinable price, when delivery occurred and title transferred, and the collection was probable. When the Company had an interest in a property with operators, it used the sales method of accounting for its oil and gas to its customers, which was different from its net working interest in field production. The Company’s revenue producing activities ceased in the fourth quarter of 2010.
	Asset Retirement Obligations
	The Company previously recognized liabilities for retirement obligations associated with tangible long-lived assets, such as producing well sites, and natural gas processing plants. The initial measurement of the asset retirement obligation was to record a separate liability at its fair value with an offsetting asset retirement cost recorded as an increase to the related property and equipment on the consolidated balance sheet.
	The previously recognized retirement obligations and assets were settled in December 31, 2012 and 2011 upon the entry into individual settlement agreements with the Company’s former operating partners. As of December 31, 2012, the Company’s management believes it does not have any remaining retirement obligations associated with its former operations.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand. The Company considers all highly liquid instruments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. The Company did not have any cash or cash equivalents at December 31, 2012, 2011 or 2010.
	Fair Value Measurements
	The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Financial assets are marked to bid prices and financial liabilities are marked to offer prices.  The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity.  In addition, the fair value of liabilities should include consideration of non-performance risk, including the party’s own credit risk.
	Fair value measurements do not include transaction costs.  A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values.  Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.  The fair value hierarchy is defined into the following three categories:
	Level 1: Quoted market prices in active markets for identical assets or liabilities.
	Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
	Level 3: Unobservable inputs that are not corroborated by market data.
	Financial Instruments
	The carrying value of certain notes payable is recorded at face value less unamortized discounts using the effective interest rate method.
	Income Taxes
	Income taxes are recorded in the period in which the related transactions have been recognized in the financial statements. Deferred tax assets and liabilities are recorded for expected future tax consequences of loss carryforwards and temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities in the financial statements and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
	Stock-Based Compensation
	In prior periods the Company issued equity and equity linked instruments to employees and non-employees. For stock-based transactions, compensation expense is recognized over the requisite service period, which is generally the vesting period, based on the computed fair value on the grant date of the award.
	Loss Per Share
	Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Dilutive loss per share includes additional dilution from common stock equivalents, such as stock options and warrants, and convertible instruments, if the impact is not antidilutive.

3_Going_Concern

3. Going Concern	12 Months Ended
	Dec. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
3. Going Concern	'
	Through late calendar 2010, the Company was engaged in the exploration and development of oil and gas resources. Through the year ended December 31, 2010 the Company generated revenues significantly deficient of its ability to meet its operating obligations resulting in the incurrence of significant amounts of additional debt.
	From late 2010 through the period ended December 31, 2012 and up to July 29, 2013, the Company’s assets and capital raising ability were effectively frozen by way of a relief order with the New Jersey Attorney General’s office and eventual court ordered receivership through July 29, 2013. For most of these periods the Company was inactive with the exception of incurring interest on its debt obligations, all of which were in default; accruing other unpaid administrative fees; and recognizing the impacts of settlement agreements entered into with its former oil and gas operating partners.
	Subsequent to the emergence from receivership on July 29, 2013 the Company plans to raise funds from private offerings of equity as applicable and pursue entry into a business agreement with an operating entity. Since the Company does not have any firm funding commitments, and no operations, there is a substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

4_Oil_and_Gas_Properties

4. Oil and Gas Properties	12 Months Ended
	Dec. 31, 2012
Extractive Industries [Abstract]	'
4. Oil and Gas Properties	'
	As of December 31, 2012, due to lack of funding, the Company had fully and formally abandoned all of its prior oil and gas exploration and development activities. During the year ended December 31, 2011, the Company had fully abandoned all of its previously impaired proved properties.
	The following is a summary of our prior oil and gas interests and operations, which ceased revenue generation in late 2010:
	Proved properties:	2010			2011		2012
	Indigo - 3 well program in West Virginia (1)	$	1,295,270		$	–	$	–
	Tapo - 5 well program in West Virginia (2)		1,531,250			–		–
	Dannic - 5 well program in Pennsylvania (3)		856,824			–		–
	P &J 5 -  well program in Kentucky (5)		541,800			–		–
	Mid-East - 6 well program in Pennsylvania (3)		1,758,120			–		–
	Total proved oil and gas properties, gross		5,983,264			–		–
	Impairment allowance		(5,368,985	)		–		–
	Accumulated depletion		(365,426	)		–		–
	Total proved oil and gas properties, net	$	248,853		$	–	$	–
	Unproved properties (4)	$	4,821,802		$	1,640,350	$	–
	Asset retirement obligation asset	$	200,000		$	40,000	$	–
	-1	Beginning in early 2009, the Indigo well program began significantly underperforming resulting in the Company recognizing significant impairment charges. Throughout most of 2009 and 2010 the wells were stopped for maintenance. In May 2011 the Company determined that it was not going to be able pay the necessary maintenance costs to bring the wells to economically viable production and the well program was abandoned. The entire carrying amount of this program was included in the impairment allowance as of December 31, 2010.
	-2	The Tapo well program produced limited amounts of natural gas and was being operated by Tapo Energy. Throughout the period of the operation agreement with Tapo Energy, the Company recognized operating costs and obligations significantly in excess of the revenue produced by the wells. In 2011, as result of the determination that the Company was not going to be able to meet its operating obligations, the Company entered into a settlement agreement with Tapo Energy whereby the Company’s future interests in the well program were reacquired by Tapo Energy in exchange for the forgiveness of outstanding obligations due to Tapo of approximately $432,000. The Company recognized a loss of $248,853 associated with the settlement agreement with Tapo Energy and abandonment of the well program included in gain of abandonment in the accompanying statement of operations.
	-3	From 2007 through late 2010 most of these wells produced limited amounts of natural gas, but did not result in revenues sufficient to cover the on-going operating costs. As a result, the Company was unable to meet its operating obligations. In May 2011 the Company entered into a settlement agreement with the operator to transfer its interest in any future production in exchange for the forgiveness of its previous and future obligations. On the date of settlement, the Company’s accrued obligations that were forgiven exceeded the carrying value of the proved property resulting in the recognition of a gain of $155,000 included in gain of abandonment in the accompanying statement of operations.
	-4	In July 2012 the Company entered in a settlement agreement to transfer its interest in future production from these properties in exchange for the forgiveness of its previously accrued and unpaid obligations. During the year ended December 31, 2011 the Company recognized an impairment loss of $2,883,033 associated with the estimated fair value of its unproved properties.
	-5	In 2011 the Company abandoned this well program due to its inability to make the necessary expenditures to move the wells into production.

5_Notes_Payable

5. Notes Payable	12 Months Ended
	Dec. 31, 2012
Debt Disclosure [Abstract]	'
5. Notes Payable	'
	Notes payable consist of the following:
		2012			2011			2010
	Convertible note payable, original issue date in 2006, nominal interest rate of 8%, original maturity in October 2009	$	–		$	–		$	666,667
	Convertible note payable, original issue date in 2010, nominal interest rate of 9%, original maturity in June 2011		500,000			500,000			500,000
	Note payable, original issue date in 2007 and 2008, nominal interest rate of 9%, original matured 2010		565,000			565,000			565,000
	Note payable - related party, original issue date in 2010, nominal interest rate of 10%, original maturity in March 2014		8,376,169			8,376,169			8,376,169
	Note payable, original issue date in 2008, nominal interest rate of 10%, original maturity in July 2012		75,000			75,000			75,000
	Note payable, original issue date in 2010, nominal interest rate of 9%, original maturity in July 2012		–			457,317			457,317
	Note payable - related party, original issue date in 2011, nominal interest rate of 10%, due on demand		255,000			255,000			–
	Note payable - related party, original issue date in 2012, nominal interest rate of 10%, due on demand		21,740			–			–
	Total Notes payable, gross		9,792,909			10,228,486			10,640,153
	Unamortized discounts		(1,403,000	)		(2,364,755	)		(3,375,913	)
	Total Notes payable, net	$	8,389,909		$	7,863,731		$	7,264,240
	Accrued interest	$	3,101,607		$	1,942,823		$	963,621
	Total interest expense	$	2,222,884		$	2,191,526		$	3,625,271
	Discount amortization included in interest expense	$	961,755		$	1,011,158		$	927,173
	As of December 31, 2012 the Company was in default on all of its note payable obligations, correspondingly, all obligations have become due on demand and are classified as current in the in the accompanying balance sheet. At December 31, 2012 and 2011 notes payable totaling $276,740 and $255,000 were held by members of New Hope Partners, the Company’s control group as of August 1, 2013. In addition, in August 2013, the members of New Hope Partners obtained an 88% beneficial interest in notes payable with an undiscounted principal balance of $8,376,169 at December 31, 2012.
	As part of the final settlement of the Company’s former oil and gas exploration business associated with its previously held unproven oil and gas properties, holders of notes totaling $457,317 agreed to forgive their obligations in exchange for the Company giving up its right to any future revenue generated from the property. During the year ended December 31, 2012 the Company recognized the settlement of $534,187 related to these notes, inclusive of the previously accrued interest of $76,870.
	During the year ended December 31, 2011, the Company issued notes payable totaling $365,000 a majority of which were to members of New Hope Partners. In connection with the notes payable issuances, and due to the dire financial position of the Company, the Company issued 178,300,000 shares of common stock along with the notes resulting in the recognition of financing fees included in other expense of $914,487. During the year ended December 31, 2011 the Company settled $110,000 of these obligations via the issuance of 40,333,333 shares of common stock. Since the common stock was issued at a discount to the estimated fair value, the Company recognized losses totaling $44,733 associated with these debt conversions.
	During 2011, the Company determined that convertible notes with a gross balance of $666,667 were no longer valid obligations of the Company based on a lapse in the statute of limitations and repeated attempts to enter into a settlement agreement with the creditor. The Company recognized a gain of $833,279, inclusive of previously accrued interest of $166,612, included in gain on settlement of obligations in the statement of operations.
	During 2009, the Company determined that certain of its outstanding convertible notes were potentially convertible into an unlimited number of shares which would exceed the number of shares the Company was authorized to issue. This determination resulted in the conversion features and other equity-linked instruments outstanding being reclassified from equity to liabilities. As of December 31, 2009, the Company recognized a derivative liability with an estimated fair value of $310,789. The Company valued the derivative liability using a Black-Scholes option pricing model and Level 3 inputs within the fair value hierarchy. During the year ended December 31, 2010 the Company recognized a gain of $610,645 associated with the decline of the fair value of its derivative liabilities to $212,408 as of December 31, 2010. The decline in fair value was primarily associated with the decline in the Company’s stock price, resulting in a significant portion of the conversion features and other equity-linked instruments having no intrinsic value. For the year ended December 31, 2011 the Company recognized an additional gain on the change in the fair value of the derivative liabilities of $212,408 since it was determined the conversion features and other equity-linked instruments did not have any fair value. This determination was made based on Level 3 inputs including an analysis of the Company’s financial position and inactivity, the significant restrictions on the underlying stock since the Company was out of compliance with its filing requirements, and the Company taken as a whole having no assets and little to no market value.

6_Prior_Period_Adjustment

6. Prior Period Adjustment	12 Months Ended
	Dec. 31, 2012
Notes to Financial Statements	'
6. Prior Period Adjustment	'
	During the preparation of the financial statements for the periods presented, the Company discovered notes payable of $75,000 and accrued interest of $14,220 that have been outstanding since 2008 that did not appear to be appropriately recognized. In order to recognize this obligation, along with the previously accrued interest to December 31, 2009, the Company adjusted its previously stated accumulated deficit at December 31, 2009.
	In addition, in periods prior to those presented, the Company recognized preferred stock dividends totaling $451,508 that were previously included in accumulated deficit. As the Company cannot pay dividends out of accumulated deficits under Nevada laws, the dividends were reclassified to a reduction of additional paid-in capital in the accompanying financial statements.
	The above adjustments resulted in a reduction of $362,288 to the Company’s previously stated accumulated deficit at December 31, 2009 of $82,044,724 to $81,682,436.

7_Related_Party_Transactions

7. Related Party Transactions	12 Months Ended
	Dec. 31, 2012
Related Party Transactions [Abstract]	'
7. Related Party Transactions	'
	Throughout the period of the Company’s previous oil and gas exploration activities, transactions with its joint venture and other operating partners were previously disclosed as related party transactions. In addition, the Company entered into significant transactions with its significant debt and equity investors. Subsequent to the acquisition of a majority interest in the Company by New Hope Partners LLC, the Company has determined the members of New Hope Partners are related parties. See Note 5 for a description of the material transactions with the members of New Hope Partners.

8_Stockholders_Equity

8. Stockholders' Equity	12 Months Ended
	Dec. 31, 2012
Stockholders' Equity (Deficit)	'
8. Stockholders' Equity	'
	Common Stock
	As of December 31, 2012, 2011 and 2010 the Company had 1,187,956,895 and 903,701,378 and 903,701,378 shares of common stock issued and outstanding.
	In January 2010 the Company issued 1,000,000 shares of common stock for consulting services totaling $60,000.
	In February 2010 the Company issued 803,137 shares of common stock for legal services totaling $16,063.
	In February 2010 the Company issued 54,000,000 shares of common stock for accrued operating obligations totaling $1,350,000.
	In February 2010 the Company issued 13,020,000 shares of common stock for the settlement of notes payable totaling $331,700 inclusive of penalty interest of $14,000.
	In March 2010 the Company issued 16,980,000 shares of common stock for the settlement of notes payable totaling $424,500.
	In March 2010 the Company issued 250,000 shares of common stock for consulting services totaling $35,000.
	In March 2010 the Company issued 8,000,000 shares of common stock for the settlement of notes payable and accrued interest totaling $323,123.
	In March 2010 the Company issued 8,376,169 shares of common stock as part of a note payable arrangement resulting in the recognition of interest expense totaling $376,928.
	In March 2010 the Company issued 14,750,000 shares of common stock as part of a note payable arrangement resulting in the recognition of interest expense totaling $433,803.
	In April 2010 the Company issued 20,000,000 shares of common stock for the settlement of notes payable and accrued interest totaling $568,501 and recognized a loss on extinguishment of $331,182.
	In April 2010 the Company issued 100,000 shares of common stock for consulting services totaling $6,000.
	In May 2010 the Company issued 900,000 shares of common stock for the settlement of notes payable and accrued interest totaling $26,719 and recognized a loss on extinguishment of $43,424.
	In June 2010 the Company issued 17,983,333 shares of common stock for the settlement of notes payable totaling $362,000.
	In June 2010 the Company issued 250,000 shares of common stock for Board of Director compensation totaling $22,500.
	In July 2010 the Company canceled 14,250,000 shares of common stock previously issued as part of a note payable agreement.
	In September 2010 the Company issued 29,383,333 shares of common stock for the settlement of notes payable totaling $235,000 and recognized a loss on the settlement of $31,875.
	In September 2010 the Company issued 12,300,000 shares of common stock as part of a note payable arrangement and initially recognized deferred loan costs totaling $495,600.
	In September 2010 the Company issued 22,154,107 shares of common stock for accrued professional fees totaling $981,099.
	In October, 2010 the Company issued 5,000,000 shares of common stock for the settlement of previously accrued professional fees totaling $25,000 and the recognition of financing fees included in interest expense of $37,500.
	In November 2010 the Company issued 6,250,000 shares of common stock for the settlement of previously accrued professional fees totaling $25,000 and the recognition of financing fees included in interest expense of $35,000.
	In December 2010 the Company issued 750,000 shares of common stock per a forbearance agreement on a promissory note resulting in the recognition of interest expense of $7,500.
	In December 2010 the Company issued 5,555,556 shares of common stock for the settlement of previously accrued professional fees totaling $25,000 and the recognition of financing fees included in interest expense of $30,556.
	In December 2010 the Company issued 267,074 shares of common stock as interest on previously accrued and unpaid operating obligations resulting in the recognition of interest expense totaling $2,270.
	In January 2011 the Company issued 361,699 shares of common stock as interest on previously accrued and unpaid operating obligations resulting in the recognition of interest expense totaling $3,436.
	In January 2011 the Company issued 450,000 shares of common stock per the terms of three promissory notes resulting in the recognition of interest expense of $4,050.
	In January 2011 the Company issued 5,688 shares of common stock as interest on previously accrued and unpaid operating obligations resulting in the recognition of interest expense totaling $51.
	In January 2011 the Company issued 2,829,667 shares of common stock as interest on previously accrued and unpaid operating obligations resulting in the recognition of interest expense totaling $25,467.
	In January 2011 the Company issued 1,000,000 shares of common stock as compensation for consulting services totaling $9,000.
	In January 2011 the Company issued 7,692,307 shares of common stock for the settlement of previously accrued professional fees totaling $30,000 and the recognition of financing fees included in interest expense of $36,923.
	In February 2011 the Company issued 8,955,224 shares of common stock for the settlement of previously accrued professional fees totaling $30,000 and the recognition of financing fees included in interest expense of $28,209.
	In March 2011 the Company issued 20,000,000 shares of common stock for conversion from debt to equity of four promissory notes totaling $55,000, the Company also recognized financing fees associated with the conversion of $55,000 included in interest expense.
	In March 2011 the Company issued 450,000 shares of common stock per the terms of five promissory notes resulting in the recognition of interest expense of $2,475.
	In March 2011 the Company issued 5,000,000 shares of common stock for conversion from debt to equity in a promissory note in the amount of $25,000, the Company recognized a gain on the conversion in the amount of $14,000.
	In April 2011 the company issued 11,363,636 shares of common stock for the settlement of previously accrued professional fees totaling $55,000 and the recognition of a gain netted against financing fees included in interest expense of $15,227.
	In May 2011 the Company issued 26,183,333 shares of common stock for the settlement of promissory notes totaling $5,000 and the recognition of financing fees included in interest expense of $52,603.
	In October 2011 the Company issued 167,000,000 shares of common stock per the terms of six promissory notes totaling resulting in the recognition of interest expense of $751,500.
	In December 2011 the Company issued 12,591,332 shares of common stock for interest expense totaling $12,591.
	Stock Options
	In prior periods, the Company issued stock options to both non-employees and employees. The options are fully vested and all associated compensation expense was recognized in periods prior to those presented. The stock option grant date fair value was estimated using a Black-Scholes pricing model. No additional options were granted during the years ended December 31, 2012, 2011 and 2010.
	As of December 31, 2012 the Company had 25,000,000 stock options outstanding. During the periods presented there were no options granted, exercised, cancelled, or forfeited, correspondingly, no additional compensation expense was recognized for the periods presented. All options outstanding are exercisable and do not have any intrinsic value at December 31, 2012, 2011 and 2010 and are set to expire in October of 2017. At December 31, 2012 the weighted average exercise price of the outstanding options was $0.15 with a weighted average remaining term of 4.83 years.
	Warrants
	In periods prior to those presented, the Company issued warrants to non-employees primarily in conjunction with notes payable. As of the balance sheet dates contained in these financial statements, the Company had outstanding warrants of 38,350,000. The weighted average exercise price of the outstanding warrants at December 31, 2012, 2011and 2010 was $0.02 with a weighted average remaining term of 4.83 years as of December 31, 2012. The warrants did not have any intrinsic value as of December 31, 2013 and 2012 and were fully vested. Of the outstanding warrants, 37,950,000 are contingently exercisable only in the event that other equity-linked instruments are exercised.

9_Income_Taxes

9. Income Taxes	12 Months Ended
	Dec. 31, 2012
Income Tax Disclosure [Abstract]	'
9. Income Taxes	'
	Income taxes from continued operations for the years ended December 31, 2012, 2011 and 2010 consist of the following:
		2012			2011			2010
	Current:
	Federal	$	–		$	–		$	–
	Deferred:
	NOL Carryforwards	$	16,798,000		$	15,280,000		$	13,612,000
	Valuation allowance		(16,798,000	)		(15,280,000	)		(13,612,000	)
	Deferred tax assets, net	$	–		$	–		$	–
	At December 31, 2012, the Company had federal net operating losses of approximately $39,600,000 which will begin to expire in 2027 and could be subject to certain limitations under section 382 of the Internal Revenue Code.
	The Company has provided a full valuation allowance for all periods for its net deferred tax assets as it cannot conclude it is more likely than not that they will be realized.
	As of December 31, 2012, 2011, and 2010, the Company did not have any unrecognized tax benefits. The Company's policy is to recognize interest and penalties related to income tax matters in income tax expense. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since its inception. The Company is subject to U.S. federal and state income tax examination for tax years 2009 and forward.

10_Quarterly_Financial_Informa

10. Quarterly Financial Information	12 Months Ended
	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]	'
10. Quarterly Financial Information	'
	During the years ended December 31, 2012 and 2011 the Company did not publish any of its operating results on a quarterly basis. The following provides the balance sheets and income statements for each quarterly period contained in the fiscal years ended December 31, 2012 and 2011:
		BALANCE SHEETS AS OF:
		31-Mar-12			30-Jun-12			30-Sep-12			31-Dec-12
	ASSETS
	Assets
	Unproved oil and gas properties	$	1,680,350		$	1,680,350		$	–		$	–
	Other Assets
	Deferred debt issuance costs and other assets		36,943			30,697			24,215			17,487
	Total assets	$	1,717,293		$	1,711,047		$	24,215		$	17,487
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current Liabilities
	Accounts payable	$	977,381		$	977,381		$	977,381		$	1,014,585
	Accrued expenses		1,846,984			1,846,984			764,092			–
	Accrued interest		2,244,823			2,554,509			2,787,384			3,101,607
	Promissory and other notes payable, net		8,112,698			8,348,514			8,135,927			8,389,909
	Total current liabilities		13,181,886			13,727,388			12,664,784			12,506,101
	Commitments and Contingencies
	Stockholders' Equity (Deficit)
	Common stock, $.001 par value, 2,000,000,000 shares authorized and 1,187,956,895 shares issued and outstanding for all quarterly periods during the year ended December 31, 2012.	$	1,187,956		$	1,187,956		$	1,187,956		$	1,187,956
	Additional paid in capital		80,642,231			80,642,231			80,642,231			80,642,231
	Accumulated deficit		(93,294,780	)		(93,846,528	)		(94,470,756	)		(94,318,801	)
	Total stockholders' equity (deficit)		(11,464,593	)		(12,016,341	)		(12,640,569	)		(12,488,614	)
	Total liabilities and stockholders' equity (deficit)	$	1,717,293		$	1,711,047		$	24,215		$	17,487
		STATEMENTS OF OPERATIONS
		For the Three Months Ended
		March 31,			June 30,			September 30,			December 31,
		2012			2012			2012			2012
	Revenue
	Net revenue	$	–		$	–		$	–		$	–
	Expenses
	General and administrative		21,740			–			–			–
	(Gain) loss on abandonment of assets		–			–			–			–
	Total operating expenses		21,740			–			–			–
	Gain (loss) from operations		(21,740	)		–			–			–
	Other income (expense)
	Interest expense		(535,246	)		(551,748	)		(560,957	)		(574,933	)
	Gain (loss) on settlement of obligations		–			–			(63,271	)		726,888
	Total other expenses		(535,246	)		(551,748	)		(624,228	)		151,955
	Net loss	$	(556,986	)	$	(551,748	)	$	(624,228	)	$	151,955
	Net loss per share - basic and diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	0
	Weighted average shares outstanding		1,187,956,895			1,187,956,895			1,187,956,895			1,187,956,895
		BALANCE SHEETS AS OF:
		31-Mar-11			30-Jun-11			30-Sep-11			31-Dec-11
	ASSETS
	Current Assets
	Prepaid expenses	$	82,047		$	237,047		$	143,599		$	–
	Proved oil and gas properties, net		408,853			408,853			248,853
	Unproved oil and gas properties		4,861,802			4,861,802			4,563,383			1,680,350
	Other Assets
	Deferred debt issuance costs and other assets		59,736			54,547			48,958			42,962
	Total assets	$	5,412,438		$	5,562,249		$	5,004,793		$	1,723,312
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current Liabilities
	Accounts payable	$	918,028		$	977,381		$	977,381		$	977,381
	Accrued expenses		3,055,454			3,000,454			2,923,006			1,846,984
	Accrued interest		1,241,194			1,369,208			1,656,115			1,942,823
	Reclamation liability		309,374			309,374			–			–
	Promissory and other notes payable, net		7,601,497			7,426,399			7,637,375			7,863,731
	Total current liabilities		13,125,547			13,082,816			13,193,877			12,630,919
	Commitments and Contingencies
	Stockholders' Equity (Deficit)
	Common stock, $.001 par value, 2,000,000,000 shares authorized and 970,818,594 and 1,008,365,563 and 1,008,365,563 and 1,187,956,895 shares issued and outstanding at March 31, 2011 and June 30, 2011 and September 30, 2011 and December 31, 2011, respectively	$	970,818		$	1,008,365		$	1,008,365		$	1,187,956
	Additional paid in capital		79,997,902			80,057,731			80,057,731			80,642,231
Accumulated deficit		(88,681,829	)		(88,586,663	)		(89,255,180	)		(92,737,794	)
Total stockholders' equity (deficit)		(7,713,109	)		(7,520,567	)		(8,189,084	)		(10,907,607	)
Total liabilities and stockholders' equity (deficit)	$	5,412,438		$	5,562,249		$	5,004,793		$	1,723,312
	STATEMENTS OF OPERATIONS
	For the Three Months Ended
	March 31,			June 30,			September 30,			December 31,
	2011			2011			2011			2011
Revenue
Net revenue	$	–		$	–		$	–		$	–
Expenses
Operating expenses		–			36,591			149,045			(19,011	)
General and administrative		–			78,835			–			–
Professional fees		80,000			218,727			16,000			–
Impairment of unproved oil and gas properties		–			–			–			2,883,033
(Gain) loss on abandonment of assets		–			(155,000	)		–			(183,095	)
Total operating expenses		80,000			179,153			165,045			2,680,927
Gain (loss) from operations		(80,000	)		(179,153	)		(165,045	)		(2,680,927	)
Other income (expense)
Interest expense		(620,019	)		(536,384	)		(503,472	)		(531,651	)
Financing expense		(150,611	)		(12,376	)		–			(751,500	)
Gain (loss) on settlement of obligations		–			823,079			–			269,056
Change in fair value of derivatives		–			–			–			212,408
Total other expenses		(770,630	)		274,319			(503,472	)		(801,687	)
Net loss	$	(850,630	)	$	95,166		$	(668,517	)	$	(3,482,614	)
Net loss per share - basic and diluted	$	(0.00	)	$	0		$	(0.00	)	$	(0.00	)
Weighted average shares outstanding		943,076,088			993,379,957			1,008,365,563			1,151,729,340

11_Subsequent_Events

11. Subsequent Events	12 Months Ended
	Dec. 31, 2012
Subsequent Events [Abstract]	'
11. Subsequent Events	'
	On July 29, 2013, a group of large equity and debt holders formed a new entity, New Hope Partners, LLC, and entered into a settlement agreement with the Company’s court appointed receiver to effectively purchase a majority interest in the Company from the New Jersey Attorney General. The closing of the transaction between the receiver and New Hope Partners resulted in a change of control of the Company (for more detail, including the settlement agreement, see Current Report on Form 8-K filed August 5, 2013). Since the Company is not pursuing any of its prior activities management has determined the new inception date to be August 1, 2013.

2_Summary_of_Significant_Accou1

2. Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2012
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and have been presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements have not been audited.
Consolidated Financial Statements	'
	Consolidated Financial Statements
	The consolidated financial statements include the accounts of Indigo and Indigo Energy Partners, LP (“Indigo LP”).   All intercompany transactions and balances have been eliminated in consolidation.
Exploration Stage Enterprise	'
	Exploration Stage Enterprise
	For the periods presented, the Company was not considered an exploration stage enterprise as defined by GAAP. Subsequent to December 31, 2012, the Company re-entered the exploration / development stage since all of the prior business activities were abandoned and settled as of December 31, 2012.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with US 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 periods. Management periodically reviews its estimates, including those related to the impairment and abandonment of its oil and gas leasehold interests, and the recognition of certain debt discount amortization with estimated effective interest rates, and the valuation of restricted equity instruments in an illiquid market. Actual results could differ from those estimates.
Oil and Gas Properties	'
	Oil and Gas Properties
	The Company accounted for oil and gas properties and interests under the full cost method. Under the full cost method, all acquisition, exploration and development costs incurred for the purpose of finding oil and gas are capitalized and accumulated in pools on a country-by-country basis. The prior exploration activities were only in the United States and therefore utilized a single cost center.
	Capitalized costs include the cost of drilling and equipping productive wells, including the estimated costs of dismantling and abandoning these assets, dry hole costs, lease acquisition costs, seismic and other geological and geophysical costs, delay rentals and costs related to such activities. Employee costs associated with production and other operating activities and general corporate activities were expensed in the period incurred. During the year ended December 31, 2011, all proven properties were either fully impaired or abandoned.
	Unproved property costs include the costs associated with unevaluated properties and are not included in the full cost amortization base (where proved reserves exist) until the project is evaluated. These costs include unproved leasehold acreage, seismic data, wells in progress and wells pending determination, together with interest costs capitalized for these projects. Significant unproved properties are assessed periodically, but not less than annually, for possible impairment or reduction in value. Impairment of unproved properties is based on factors such as the existence of events that may serve to impair the properties such as failure of a well, expiration of leases, and comparison of the carrying value of oil and gas properties with their fair value at the end of the reporting period. If a reduction in value has occurred, these property costs are considered impaired and are transferred to the related full cost pool. Geological and geophysical costs included in unproved properties are transferred to the full cost amortization base along with the associated leasehold costs on a specific project basis. Costs associated with wells in progress and wells pending determination are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry holes are transferred to the amortization base immediately upon determination that the well is unsuccessful. Unproved properties whose acquisition costs are not individually significant are aggregated and the portion of such costs estimated to be ultimately nonproductive, based on experience, are amortized to the full cost pool over an average holding period.
	In situations where the existence of proved reserves has not yet been determined, unevaluated property costs remain capitalized in unproved property cost centers until proved reserves have been established, exploration activities cease or impairment and reduction in value occurs. If exploration activities result in the establishment of a proved reserve base, amounts in the unproved property cost center are reclassified as proved properties and become subject to amortization and the application of the ceiling test. When it is determined that the value of unproved property costs have been permanently diminished (in part or in whole) based on the impairment evaluation and future exploration plans, the unproved property cost centers related to the area of interest are impaired, and accumulated costs charged against earnings. As of December 31, 2012, the Company’s unproved properties were full abandoned.
Revenue Recognition	'
	Revenue Recognition
	Oil and gas revenues were recognized when production was sold to a purchaser at a fixed or determinable price, when delivery occurred and title transferred, and the collection was probable. When the Company had an interest in a property with operators, it used the sales method of accounting for its oil and gas to its customers, which was different from its net working interest in field production. The Company’s revenue producing activities ceased in the fourth quarter of 2010.
Asset Retirement Obligations	'
	Asset Retirement Obligations
	The Company previously recognized liabilities for retirement obligations associated with tangible long-lived assets, such as producing well sites, and natural gas processing plants. The initial measurement of the asset retirement obligation was to record a separate liability at its fair value with an offsetting asset retirement cost recorded as an increase to the related property and equipment on the consolidated balance sheet.
	The previously recognized retirement obligations and assets were settled in December 31, 2012 and 2011 upon the entry into individual settlement agreements with the Company’s former operating partners. As of December 31, 2012, the Company’s management believes it does not have any remaining retirement obligations associated with its former operations.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand. The Company considers all highly liquid instruments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. The Company did not have any cash or cash equivalents at December 31, 2012, 2011 or 2010.
Fair Value Measurements	'
	Fair Value Measurements
	The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Financial assets are marked to bid prices and financial liabilities are marked to offer prices.  The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity.  In addition, the fair value of liabilities should include consideration of non-performance risk, including the party’s own credit risk.
	Fair value measurements do not include transaction costs.  A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values.  Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.  The fair value hierarchy is defined into the following three categories:
	Level 1: Quoted market prices in active markets for identical assets or liabilities.
	Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
	Level 3: Unobservable inputs that are not corroborated by market data.
Financial Instruments	'
	Financial Instruments
	The carrying value of certain notes payable is recorded at face value less unamortized discounts using the effective interest rate method.
Income Taxes	'
	Income Taxes
	Income taxes are recorded in the period in which the related transactions have been recognized in the financial statements. Deferred tax assets and liabilities are recorded for expected future tax consequences of loss carryforwards and temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities in the financial statements and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Stock-Based Compensation	'
	Stock-Based Compensation
	In prior periods the Company issued equity and equity linked instruments to employees and non-employees. For stock-based transactions, compensation expense is recognized over the requisite service period, which is generally the vesting period, based on the computed fair value on the grant date of the award.
Loss Per Share	'
	Loss Per Share
	Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding. Dilutive loss per share includes additional dilution from common stock equivalents, such as stock options and warrants, and convertible instruments, if the impact is not antidilutive.