AMERICAN NOBLE GAS, INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Statements of Cash Flows

In USD, except per-share amounts

	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in earnings of unconsolidated subsidiary – GMDOC, LLC
Change in fair value of derivative liability
Change in fair value of senior convertible note
Stock-based compensation
Gain on exchange of debt and warrant obligations
Gain on extinguishment of liabilities
Impairment charge on oil and gas properties
Depreciation, depletion and amortization
Accretion of asset retirement obligations
Gain on settlement of litigation
Gain on exchange and extinguishment of liabilities
Loss on retirement of convertible note payable
Expiration and charge-off of deposit to acquire oil and gas properties
Amortization of discount on convertible note payable
Write-off of oil and gas property purchase option costs
Change in operating assets and liabilities:
Decrease in income taxes payable
Increase in accounts receivable
Increase in prepaid expenses
Increase in accounts payable
Increase (decrease) in accrued liabilities
Increase in accrued interest

Net cash used in operating activities
Cash flows from investing activities:
Deposit to acquire oil and gas property
Investment in unconsolidated subsidiary – GMDOC, LLC
Investment in Hugoton Gas Field participation agreement
Investment in oil and gas properties and equipment
Net cash used in investing activities

Cash flows from financing activities:
Cash dividends paid on preferred stock
Net proceeds from issuance of convertible notes payable
Repayment of convertible note payable
Net proceeds from issuance of Series A Convertible Preferred Stock with detachable Common Stock purchase warrants
Issuance of convertible promissory note with detachable warrants to purchase common stock
Repayment of notes payable pursuant to exchange agreements
Proceeds from issuance of note payable-related party
Repayment of notes payable - related party
Repayment of note payable
Proceeds from private placement of common stock
Net cash provided by financing activities

Net decrease in cash and cash equivalents
Beginning
Ending
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents:
Beginning
Ending
Supplemental cash flow information:
Cash paid for interest
Supplemental disclosure of non-cash investing and financing activities:
Assumption of asset retirement obligation related to the purchase of oil and gas properties and equipment
Accrual of dividends on Series A Convertible Preferred Stock
Conversion of Series A Convertible Preferred Stock to Common Stock
Issuance of restricted Common Stock
Issuance of common stock purchase warrants pursuant to exchange agreements
Issuance of shares of restricted common stock
Beneficial conversion feature on issuance of convertible note payable with detachable warrants to purchase common stock
Issuance of common shares for deposit to acquire oil and gas property
Exchange of secured convertible note payable
Exchange of convertible notes payable - short term
Issuance of restricted Common Stock attributable to issuance of convertible notes payable
Issuance of detachable Common Stock warrants attributable to issuance of convertible notes payable
Cumulative effect of adoption of ASU 2020-06
Issuance of convertible note payable with detachable warrants to purchase common stock
Conversion of Preferred Stock to Common Stock
Issuance of convertible promissory notes pursuant to debt settlement agreements
Issuance of detachable Common Stock purchase warrants pursuant to debt settlements agreements
Capital contribution attributable to related party debt extinguishment
Issuance of Common Stock pursuant to debt settlement agreements
Assumption of asset retirement obligation related to purchase of oil and gas properties

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