$VYEY
Victory Clean Energy Inc

2015 Q2 Form 10-Q Financial Statement

#000162828015006793 Filed on August 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $269.6K $238.0K
YoY Change 13.3% 48.74%
Cost Of Revenue $60.00K $70.00K
YoY Change -14.29% 16.67%
Gross Profit $210.0K $170.0K
YoY Change 23.53% 70.0%
Gross Profit Margin 77.88% 71.44%
Selling, General & Admin $1.070M $980.0K
YoY Change 9.18% 133.33%
% of Gross Profit 509.52% 576.47%
Research & Development $0.00 $20.00K
YoY Change -100.0%
% of Gross Profit 0.0% 11.76%
Depreciation & Amortization $170.0K $90.00K
YoY Change 88.89% 50.0%
% of Gross Profit 80.95% 52.94%
Operating Expenses $1.240M $1.090M
YoY Change 13.76% 122.45%
Operating Profit -$1.333M -$924.5K
YoY Change 44.21% 137.06%
Interest Expense $28.48K $22.22K
YoY Change 28.16%
% of Operating Profit
Other Income/Expense, Net -$27.30K $2.222M
YoY Change -101.23%
Pretax Income -$1.361M $1.298M
YoY Change -204.83% -432.77%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.247M $272.2K
YoY Change -558.31% -187.8%
Net Earnings / Revenue -462.65% 114.38%
Basic Earnings Per Share -$0.04 $0.01
Diluted Earnings Per Share -$0.04 $0.01
COMMON SHARES
Basic Shares Outstanding 29.30M shares 28.23M shares
Diluted Shares Outstanding 29.30M shares 28.84M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $1.220M
YoY Change -100.0% 238.89%
Cash & Equivalents $3.014K $1.224M
Short-Term Investments
Other Short-Term Assets $10.00K $20.00K
YoY Change -50.0%
Inventory
Prepaid Expenses $7.261K
Receivables $34.60K $190.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $171.1K $1.440M
YoY Change -88.12% 176.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.640M $3.470M
YoY Change -52.74% 30.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $70.00K $110.0K
YoY Change -36.36%
Total Long-Term Assets $1.706M $3.580M
YoY Change -52.35% 34.08%
TOTAL ASSETS
Total Short-Term Assets $171.1K $1.440M
Total Long-Term Assets $1.706M $3.580M
Total Assets $1.877M $5.020M
YoY Change -62.61% 57.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.086M $200.0K
YoY Change 943.16% -23.08%
Accrued Expenses $488.5K $260.0K
YoY Change 87.9% 13.04%
Deferred Revenue
YoY Change
Short-Term Debt $790.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.966M $460.0K
YoY Change 762.2% -8.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $800.0K
YoY Change -100.0%
Other Long-Term Liabilities $30.00K $40.00K
YoY Change -25.0% -20.0%
Total Long-Term Liabilities $32.72K $840.0K
YoY Change -96.1% 1580.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.966M $460.0K
Total Long-Term Liabilities $32.72K $840.0K
Total Liabilities $3.999M $7.260M
YoY Change -44.92% 53.81%
SHAREHOLDERS EQUITY
Retained Earnings -$42.91M
YoY Change
Common Stock $35.19M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.711M -$2.240M
YoY Change
Total Liabilities & Shareholders Equity $1.877M $5.020M
YoY Change -62.61% 57.37%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$1.247M $272.2K
YoY Change -558.31% -187.8%
Depreciation, Depletion And Amortization $170.0K $90.00K
YoY Change 88.89% 50.0%
Cash From Operating Activities -$50.00K -$440.0K
YoY Change -88.64% 175.0%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K -$320.0K
YoY Change 15.63% -37.25%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.530M
YoY Change -100.0% -2012.5%
Cash From Investing Activities -$370.0K $1.210M
YoY Change -130.58% -305.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 240.0K 240.0K
YoY Change 0.0% -77.98%
NET CHANGE
Cash From Operating Activities -50.00K -440.0K
Cash From Investing Activities -370.0K 1.210M
Cash From Financing Activities 240.0K 240.0K
Net Change In Cash -180.0K 1.010M
YoY Change -117.82% 197.06%
FREE CASH FLOW
Cash From Operating Activities -$50.00K -$440.0K
Capital Expenditures -$370.0K -$320.0K
Free Cash Flow $320.0K -$120.0K
YoY Change -366.67% -134.29%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000700764
CY2015Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
29302826 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
VICTORY ENERGY CORP
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
dei Trading Symbol
TradingSymbol
VYEY
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1119896 USD
CY2015Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
2086329 USD
CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
41565 USD
CY2015Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
34599 USD
CY2014Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
124367 USD
CY2015Q2 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
126232 USD
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
221209 USD
CY2015Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
488529 USD
us-gaap Acquisition Costs
AcquisitionCosts
2500000 USD
us-gaap Acquisition Costs
AcquisitionCosts
0 USD
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
34974441 USD
CY2015Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
35165085 USD
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
200000 USD
CY2015Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
200000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
14174 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
20412 USD
CY2014Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2015Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
300891 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
306387 USD
CY2013Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
51954 USD
CY2014Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
44214 USD
CY2015Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
50548 USD
CY2014 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3360 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3828 USD
CY2014Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
3721 USD
CY2015Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
17829 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
3721 USD
CY2014 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
3721 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2506 USD
CY2014 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-14821 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 USD
CY2014Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
40493 USD
CY2015Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
32719 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
663896 USD
CY2014Q4 us-gaap Assets
Assets
1203713 USD
CY2015Q2 us-gaap Assets
Assets
1876814 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
190719 USD
CY2015Q2 us-gaap Assets Current
AssetsCurrent
171106 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
us-gaap Development Costs
DevelopmentCosts
772801 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20858 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1224482 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2941 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3014 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1203624 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
73 USD
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
29202826 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
29302826 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
29202826 shares
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
29302826 shares
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
29203 USD
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
29303 USD
CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
1162520 USD
us-gaap Costs And Expenses
CostsAndExpenses
1798765 USD
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
1602882 USD
us-gaap Costs And Expenses
CostsAndExpenses
3372644 USD
CY2014Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
87883 USD
CY2015Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
67471 USD
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
170071 USD
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
251014 USD
us-gaap Development Costs
DevelopmentCosts
517776 USD
CY2014Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
477934 USD
CY2015Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
574160 USD
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2014Q2 us-gaap Exploration Expense
ExplorationExpense
19677 USD
us-gaap Exploration Expense
ExplorationExpense
24172 USD
CY2015Q2 us-gaap Exploration Expense
ExplorationExpense
0 USD
us-gaap Exploration Expense
ExplorationExpense
3491 USD
CY2014Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
2159592 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
2159592 USD
CY2015Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
us-gaap Interest Paid
InterestPaid
18978 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1070830 USD
us-gaap Interest Paid
InterestPaid
20525 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
981713 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1463628 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2715194 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1297819 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
851671 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1360555 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3018956 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-154732 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
216188 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-77510 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6966 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
85787 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
1865 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
201 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
267320 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-15552 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-14585 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
22223 USD
us-gaap Interest Expense
InterestExpense
31008 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
28480 USD
us-gaap Interest Expense
InterestExpense
47186 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
33152 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
40937 USD
CY2014Q2 us-gaap Lease Operating Expense
LeaseOperatingExpense
53963 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
115632 USD
CY2015Q2 us-gaap Lease Operating Expense
LeaseOperatingExpense
42504 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
77017 USD
CY2014Q4 us-gaap Liabilities
Liabilities
2672536 USD
CY2015Q2 us-gaap Liabilities
Liabilities
3998849 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1203713 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1876814 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2632043 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3966130 USD
CY2014Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
40493 USD
CY2015Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
32719 USD
CY2014Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
800000 USD
CY2015Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
790000 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
3639359 USD
CY2015Q2 us-gaap Minority Interest
MinorityInterest
5589434 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1309630 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2165000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
730024 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-517776 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-836030 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1647151 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
272189 USD
us-gaap Net Income Loss
NetIncomeLoss
-163114 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-1247458 USD
us-gaap Net Income Loss
NetIncomeLoss
-2794031 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1025630 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1014785 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-429511 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-113097 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-224925 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2222362 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2217476 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27304 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-44511 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
1942380 USD
CY2015Q2 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
1953660 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
896193 USD
CY2015Q2 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
1612551 USD
CY2014Q2 us-gaap Oil And Gas Revenue
OilAndGasRevenue
237977 USD
us-gaap Oil And Gas Revenue
OilAndGasRevenue
432960 USD
CY2015Q2 us-gaap Oil And Gas Revenue
OilAndGasRevenue
269631 USD
us-gaap Oil And Gas Revenue
OilAndGasRevenue
398199 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-924543 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1365805 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1333251 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-2974445 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2015Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
257901 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
122469 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
3710 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
0 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
2491888 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
0 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
772801 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
517776 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
21846 USD
CY2015Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7261 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1233000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
4021000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
1297819 USD
us-gaap Profit Loss
ProfitLoss
851671 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
0 USD
CY2014Q2 us-gaap Production Tax Expense
ProductionTaxExpense
15127 USD
us-gaap Production Tax Expense
ProductionTaxExpense
25262 USD
CY2015Q2 us-gaap Production Tax Expense
ProductionTaxExpense
12842 USD
us-gaap Production Tax Expense
ProductionTaxExpense
19541 USD
CY2014Q2 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
92040 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-1360555 USD
us-gaap Profit Loss
ProfitLoss
-3018956 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
170071 USD
us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
1395 USD
us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
3828 USD
CY2015Q2 vyey Percentageof Partnership Interests Distributableat Companys Discretion
PercentageofPartnershipInterestsDistributableatCompanysDiscretion
1
CY2014Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2015Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
17965 USD
CY2015Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
21197 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
28918 USD
CY2015Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
25686 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
433000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10000 USD
CY2015Q2 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
175815 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
251014 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40111826 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42905857 USD
us-gaap Share Based Compensation
ShareBasedCompensation
370700 USD
us-gaap Share Based Compensation
ShareBasedCompensation
47239 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-5108182 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
-7711469 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1468823 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2122035 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28835476 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27898958 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29302826 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29253937 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28230612 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27898958 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29302826 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29253937 shares
vyey Increase Decrease In Accrued Liabilitiesrelated Parties
IncreaseDecreaseInAccruedLiabilitiesrelatedParties
42390 USD
vyey Increase Decrease In Accrued Liabilitiesrelated Parties
IncreaseDecreaseInAccruedLiabilitiesrelatedParties
96226 USD
CY2014Q2 vyey Management Fee Related Party
ManagementFeeRelatedParty
84993 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
88892 USD
CY2015Q2 vyey Management Fee Related Party
ManagementFeeRelatedParty
1176 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
2675 USD
CY2014Q4 vyey Oiland Gas Property Successful Efforts Method Netof Impairment
OilandGasPropertySuccessfulEffortsMethodNetofImpairment
2838573 USD
CY2015Q2 vyey Oiland Gas Property Successful Efforts Method Netof Impairment
OilandGasPropertySuccessfulEffortsMethodNetofImpairment
3566211 USD
CY2015Q1 vyey Pre Merger Loanand Funding Agreement Loan Receivable Numberof Days Notice Required Before Pre Payment
PreMergerLoanandFundingAgreementLoanReceivableNumberofDaysNoticeRequiredBeforePrePayment
P10D
vyey Relatedpartycontribution
Relatedpartycontribution
890000 USD
vyey Relatedpartycontribution
Relatedpartycontribution
2175000 USD
vyey Renewal Of Leaseholds
RenewalOfLeaseholds
22577 USD
vyey Renewal Of Leaseholds
RenewalOfLeaseholds
0 USD
vyey Restricted Stock In Exchange For Services
RestrictedStockInExchangeForServices
20417 USD
vyey Restricted Stock In Exchange For Services
RestrictedStockInExchangeForServices
143505 USD
CY2015Q2 vyey Warrant Granted
WarrantGranted
286075 USD
vyey Warrant Granted
WarrantGranted
286075 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used primarily when accounting for depreciation, depletion, and amortization (&#8220;DD&amp;A&#8221;) expense, property costs, estimated future net cash flows from proved reserves, cost to abandon oil and natural gas properties, taxes, accruals of capitalized costs, operating costs and production revenue, general and administrative costs and interest, exploration expense, the purchase price allocation on properties acquired, various common stock, warrants and option transactions, and contingencies.</font></div></div>

Files In Submission

Name View Source Status
0001628280-15-006793-index-headers.html Edgar Link pending
0001628280-15-006793-index.html Edgar Link pending
0001628280-15-006793.txt Edgar Link pending
0001628280-15-006793-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
forbearanceagreement-augus.htm Edgar Link pending
q2vyey_ex311.htm Edgar Link pending
q2vyey_ex312.htm Edgar Link pending
q2vyey_ex321.htm Edgar Link pending
q2vyey_ex322.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vyey-20150630.xml Edgar Link completed
vyey-20150630.xsd Edgar Link pending
vyey-20150630_cal.xml Edgar Link unprocessable
vyey-20150630_def.xml Edgar Link unprocessable
vyey-20150630_lab.xml Edgar Link unprocessable
vyey-20150630_pre.xml Edgar Link unprocessable
vyey630201510q.htm Edgar Link pending