$VYEY
Victory Clean Energy Inc

2014 Q4 Form 10-K Financial Statement

#000162828016014105 Filed on April 08, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 2013 Q4
Revenue $90.00K $695.3K $230.0K
YoY Change -60.87% -5.45% 91.67%
Cost Of Revenue $30.00K $225.1K $80.00K
YoY Change -62.5% -9.01% 14.29%
Gross Profit $60.00K $470.3K $150.0K
YoY Change -60.0% -3.65% 200.0%
Gross Profit Margin 66.67% 67.63% 65.22%
Selling, General & Admin $570.0K $220.0K
YoY Change 159.09% -62.07%
% of Gross Profit 950.0% 146.67%
Research & Development $0.00 $56.35K $0.00
YoY Change -49.74% -100.0%
% of Gross Profit 0.0% 11.98% 0.0%
Depreciation & Amortization $180.0K $430.9K $210.0K
YoY Change -14.29% 13.4% 2000.0%
% of Gross Profit 300.0% 91.63% 140.0%
Operating Expenses $750.0K $56.35K $440.0K
YoY Change 70.45% -49.74% -34.33%
Operating Profit -$690.0K -$6.425M -$290.0K
YoY Change 137.93% 198.75% -53.23%
Interest Expense -$20.00K $65.18K $0.00
YoY Change 7753.13% -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $2.196M $10.00K
YoY Change -100.0% 6239.89%
Pretax Income -$4.420M -$4.229M -$900.0K
YoY Change 391.11% 99.85% 9.76%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.420M -$3.210M -$620.0K
YoY Change 290.32% 90.32% -3.13%
Net Earnings / Revenue -2688.89% -461.65% -269.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.143M -$849.3K
COMMON SHARES
Basic Shares Outstanding 28.93M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $2.940K $20.00K
YoY Change -100.0% -85.3% -87.5%
Cash & Equivalents $2.941K $2.940K $20.86K
Short-Term Investments
Other Short-Term Assets $20.00K $21.85K $40.00K
YoY Change -50.0% -45.38% -42.86%
Inventory
Prepaid Expenses $21.85K $38.66K
Receivables $41.57K $165.9K $116.5K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $190.7K $190.7K $194.6K
YoY Change -2.01% -20.53% -48.78%
LONG-TERM ASSETS
Property, Plant & Equipment $930.0K $925.1K $2.230M
YoY Change -58.3% -58.52% 50.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $90.00K $87.88K
YoY Change
Total Long-Term Assets $1.013M $1.013M $2.229M
YoY Change -54.56% -54.57% 50.63%
TOTAL ASSETS
Total Short-Term Assets $190.7K $190.7K $194.6K
Total Long-Term Assets $1.013M $1.013M $2.229M
Total Assets $1.204M $1.204M $2.424M
YoY Change -50.34% -51.27% 30.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.120M $1.120M $351.4K
YoY Change 218.66% 219.97%
Accrued Expenses $221.2K $699.1K $196.9K
YoY Change 12.34% 217.79% -24.26%
Deferred Revenue
YoY Change
Short-Term Debt $800.0K $800.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.632M $2.632M $676.2K
YoY Change 289.26% 353.8% 150.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $40.00K $40.49K $50.00K
YoY Change -20.0% -19.02% 25.0%
Total Long-Term Liabilities $40.49K $40.49K $51.95K
YoY Change -22.06% -19.02% 29.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.632M $2.632M $676.2K
Total Long-Term Liabilities $40.49K $40.49K $51.95K
Total Liabilities $2.673M $6.312M $728.1K
YoY Change 267.04% 27.77% -73.23%
SHAREHOLDERS EQUITY
Retained Earnings -$40.11M -$36.90M
YoY Change 8.7%
Common Stock $35.00M $34.43M
YoY Change 1.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.108M -$5.108M -$2.470M
YoY Change
Total Liabilities & Shareholders Equity $1.204M $1.204M $2.424M
YoY Change -50.34% -51.27% 30.32%

Cashflow Statement

Concept 2014 Q4 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$2.420M -$3.210M -$620.0K
YoY Change 290.32% 90.32% -3.13%
Depreciation, Depletion And Amortization $180.0K $430.9K $210.0K
YoY Change -14.29% 13.4% 2000.0%
Cash From Operating Activities -$970.0K -$1.137M $0.00
YoY Change 95.98% -100.0%
INVESTING ACTIVITIES
Capital Expenditures $730.0K -$845.0K -$420.0K
YoY Change -273.81% -58.58% -282.61%
Acquisitions
YoY Change
Other Investing Activities $190.0K $794.2K $0.00
YoY Change 173.86% -100.0%
Cash From Investing Activities $920.0K -$50.80K -$420.0K
YoY Change -319.05% -97.32% -290.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $1.170M 280.0K
YoY Change -100.0% -49.91% -62.16%
NET CHANGE
Cash From Operating Activities -970.0K -$1.137M 0.000
Cash From Investing Activities 920.0K -$50.80K -420.0K
Cash From Financing Activities 0.000 $1.170M 280.0K
Net Change In Cash -50.00K -$17.92K -140.0K
YoY Change -64.29% -86.95% -333.33%
FREE CASH FLOW
Cash From Operating Activities -$970.0K -$1.137M $0.00
Capital Expenditures $730.0K -$845.0K -$420.0K
Free Cash Flow -$1.700M -$292.2K $420.0K
YoY Change -504.76% -120.02% -137.17%

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40493 USD
CY2015Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
94768 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
3639359 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
5828141 USD
CY2014 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
647422 USD
CY2015Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.5
CY2015Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.50
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1170109 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2797000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50804 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1058704 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1137222 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1738853 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-3209932 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-4177300 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1019205 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-728218 USD
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2196329 USD
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
532808 USD
CY2014Q4 us-gaap Notes Payable Current
NotesPayableCurrent
800000 USD
CY2015Q4 us-gaap Notes Payable Current
NotesPayableCurrent
680000 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
1942380 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
2274188 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
7430438 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
8283321 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
2838573 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
3033279 USD
CY2014Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
896193 USD
CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
759091 USD
CY2014 us-gaap Oil And Gas Revenue
OilAndGasRevenue
695318 USD
CY2015 us-gaap Oil And Gas Revenue
OilAndGasRevenue
650648 USD
CY2014 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
695318 USD
CY2015 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
650648 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-6425466 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-5438326 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
0 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
0 USD
CY2012Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
13807335 USD
CY2015Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
20490123 USD
CY2014Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
9218105 USD
CY2015Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
10449482 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2014 us-gaap Other Utility Costs
OtherUtilityCosts
56351 USD
CY2014 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
430912 USD
CY2015 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
637121 USD
CY2015 us-gaap Other Utility Costs
OtherUtilityCosts
2513 USD
CY2015Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
17965 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
24429 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
28918 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
22454 USD
CY2014Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
8903060 USD
CY2015Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
9940660 USD
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
433000 USD
CY2015 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
120000 USD
CY2014 us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
3360 USD
CY2015 us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
66172 USD
CY2014Q3 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
558246 USD
CY2014 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
647422 USD
CY2015 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 USD
CY2014 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
122469 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2014 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
3710 USD
CY2015 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
0 USD
CY2014 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
3214872 USD
CY2015 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
0 USD
CY2014 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
841270 USD
CY2015 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
1058704 USD
CY2006Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2006Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
715517 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
68966 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
68966 shares
CY2006Q4 us-gaap Preferred Stock Value
PreferredStockValue
246950 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
21846 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8734 USD
CY2014 us-gaap Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
0 USD
CY2015 us-gaap Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
0 USD
CY2014 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
1233000 USD
CY2015 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0 USD
CY2014 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
4031625 USD
CY2015 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
0 USD
CY2014 us-gaap Production Tax Expense
ProductionTaxExpense
34867 USD
CY2015 us-gaap Production Tax Expense
ProductionTaxExpense
32704 USD
CY2014 us-gaap Profit Loss
ProfitLoss
-4229137 USD
CY2015 us-gaap Profit Loss
ProfitLoss
-4905518 USD
CY2014Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2014 us-gaap Results Of Operations Income Before Income Taxes
ResultsOfOperationsIncomeBeforeIncomeTaxes
-3738061 USD
CY2015 us-gaap Results Of Operations Income Before Income Taxes
ResultsOfOperationsIncomeBeforeIncomeTaxes
-1048538 USD
CY2014 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
-3738061 USD
CY2015 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
-1048538 USD
CY2014Q4 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
10269011 USD
CY2015Q4 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
11316600 USD
CY2015Q4 vyey Common Stock Equivalents
CommonStockEquivalents
10190418 shares
CY2015Q4 vyey Common Stock Neededto Settle Convertible Preferred Stock
CommonStockNeededtoSettleConvertiblePreferredStock
138000 shares
CY2014 vyey Noncash Drilling Costs
NoncashDrillingCosts
637248 USD
CY2015 vyey Noncash Drilling Costs
NoncashDrillingCosts
0 USD
CY2014Q4 vyey Convertible Preferred Stock Common Stock Equivalent
ConvertiblePreferredStockCommonStockEquivalent
137932 shares
CY2014 vyey Noncashor Part Noncash Acquisition Oiland Gas Property
NoncashorPartNoncashAcquisitionOilandGasProperty
182250 USD
CY2015 vyey Noncashor Part Noncash Acquisition Oiland Gas Property
NoncashorPartNoncashAcquisitionOilandGasProperty
0 USD
CY2014 vyey Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves1
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves1
-500586 USD
CY2015 vyey Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves1
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves1
-287358 USD
CY2014 vyey Increase Decreaseto Additional Paidin Capital Reclassifications
IncreaseDecreasetoAdditionalPaidinCapitalReclassifications
-150000 USD
CY2014 vyey Lease Operating Costs And Production Taxes
LeaseOperatingCostsAndProductionTaxes
225074 USD
CY2015 vyey Lease Operating Costs And Production Taxes
LeaseOperatingCostsAndProductionTaxes
192504 USD
CY2014 vyey Management Fee Income
ManagementFeeIncome
90785 USD
CY2015 vyey Management Fee Income
ManagementFeeIncome
8028 USD
CY2014 vyey Meals And Entertainment
MealsAndEntertainment
0.0015
CY2015 vyey Meals And Entertainment
MealsAndEntertainment
0.0003
CY2015Q4 vyey Convertible Preferred Stock Common Stock Equivalent
ConvertiblePreferredStockCommonStockEquivalent
137932 shares
CY2014 vyey Costs Incurred Oil And Gas Property Undrilled Leaseholds
CostsIncurredOilAndGasPropertyUndrilledLeaseholds
22577 USD
CY2015 vyey Costs Incurred Oil And Gas Property Undrilled Leaseholds
CostsIncurredOilAndGasPropertyUndrilledLeaseholds
0 USD
CY2014 vyey Debt Discount Accretion
DebtDiscountAccretion
0.0010
CY2015 vyey Debt Discount Accretion
DebtDiscountAccretion
0.0004
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28453976 shares
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29803358 shares
CY2014 vyey Book Loss
BookLoss
0.34
CY2015 vyey Book Loss
BookLoss
0.34
CY2014 vyey Capital Contributions
CapitalContributions
1140000 USD
CY2015 vyey Capital Contributions
CapitalContributions
2917000 USD
CY2014Q4 vyey Common Stock Equivalents
CommonStockEquivalents
6685318 shares
CY2015Q4 vyey Drilling In Process Costs
DrillingInProcessCosts
0 USD
CY2014 vyey Dry Hole Costs
DryHoleCosts
56351 USD
CY2015 vyey Dry Hole Costs
DryHoleCosts
2513 USD
CY2015Q3 vyey Forebearance Agreement Paymentof Borrowing Base Deficiency
ForebearanceAgreementPaymentofBorrowingBaseDeficiency
76081 USD
CY2015Q4 vyey Forebearance Agreement Paymentof Borrowing Base Deficiency
ForebearanceAgreementPaymentofBorrowingBaseDeficiency
50000 USD
CY2015Q3 vyey Forebearance Agreement Remaining Borrowing Base Deficiency Due
ForebearanceAgreementRemainingBorrowingBaseDeficiencyDue
260000 USD
CY2015Q3 vyey Forebearance Agreement Required Paymentof Borrowing Base Deficiency Dueto Expiration
ForebearanceAgreementRequiredPaymentofBorrowingBaseDeficiencyDuetoExpiration
260000 USD
CY2014 vyey Impairment Of Oil And Gas Reserves
ImpairmentOfOilAndGasReserves
3721042 USD
CY2015 vyey Impairment Of Oil And Gas Reserves
ImpairmentOfOilAndGasReserves
867048 USD
CY2014 vyey Increase Decrease In Future Before Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureBeforeIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
1464570 USD
CY2015 vyey Increase Decrease In Future Before Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureBeforeIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
872130 USD
CY2014 vyey Net Operating Loss Reduction Due
NetOperatingLossReductionDue
0.0000
CY2015 vyey Net Operating Loss Reduction Due
NetOperatingLossReductionDue
0.0000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40111826 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44289126 USD
CY2014 us-gaap Revenues
Revenues
695318 USD
CY2015 us-gaap Revenues
Revenues
650648 USD
CY2014 us-gaap Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
470244 USD
CY2015 us-gaap Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
458144 USD
CY2014 us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
3721 USD
CY2015 us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
63338 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
490174 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
567112 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P36M
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
610000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1430000 shares
CY2014 us-gaap Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesPeriodIncreaseDecrease
-228034 USD
CY2015 us-gaap Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesPeriodIncreaseDecrease
-311644 USD
CY2013Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
2422100 USD
CY2014Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
1464570 USD
CY2015Q4 us-gaap Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
872130 USD
CY2015 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
2017500 shares
CY2015 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
169210 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
0 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
92235 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
508739 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-5108182 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-8549160 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1695895 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1468823 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2721019 USD
CY2014Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1365951 USD
CY2015Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1375940 USD
CY2014Q4 vyey Drilling In Process Costs
DrillingInProcessCosts
0 USD
CY2015 vyey Operating Loss Carryforwards Increasefor Period
OperatingLossCarryforwardsIncreaseforPeriod
2734175 USD
CY2012 vyey Operating Loss Carryforwards Limitationson Use Period
OperatingLossCarryforwardsLimitationsonUsePeriod
P20Y
CY2015Q1 vyey Paymentof Related Party Payable
PaymentofRelatedPartyPayable
100000 USD
CY2015Q4 vyey Percentageof Partnership Interests Distributableat Companys Discretion
PercentageofPartnershipInterestsDistributableatCompanysDiscretion
1
CY2015Q4 vyey Proved Oiland Gas Properties Amount Subjectto Write Down
ProvedOilandGasPropertiesAmountSubjecttoWriteDown
1640147 USD
CY2014 vyey Relatedpartycontribution
Relatedpartycontribution
1140000 USD
CY2015 vyey Relatedpartycontribution
Relatedpartycontribution
2917000 USD
CY2014 vyey Renewal Of Leaseholds
RenewalOfLeaseholds
22577 USD
CY2015 vyey Renewal Of Leaseholds
RenewalOfLeaseholds
0 USD
CY2014 vyey Results Of Operations Accretion Of Asset Retirement Obligation
ResultsOfOperationsAccretionOfAssetRetirementObligation
3721 USD
CY2015 vyey Results Of Operations Accretion Of Asset Retirement Obligation
ResultsOfOperationsAccretionOfAssetRetirementObligation
2506 USD
CY2014 vyey Results Of Operations Depreciation Depletion Amortization
ResultsOfOperationsDepreciationDepletionAmortization
430912 USD
CY2015 vyey Results Of Operations Depreciation Depletion Amortization
ResultsOfOperationsDepreciationDepletionAmortization
637121 USD
CY2015 vyey Sharebased Compensation Arrangementby Sharebased Payment Award Stock Awards Grantedin Period Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardStockAwardsGrantedinPeriodFairValue
508739 USD
CY2014 vyey Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves1
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves1
963984 USD
CY2015 vyey Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves1
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves1
584772 USD
CY2014 vyey Stock Grants In Exchange For Services
StockGrantsInExchangeForServices
81667 USD
CY2015 vyey Stock Grants In Exchange For Services
StockGrantsInExchangeForServices
169210 USD
CY2015 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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;">Concentrations:</font></div><div style="line-height:120%;text-align:justify;text-indent:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There is a ready market for the sale of crude oil and natural gas. During 2015 and 2014, our gas field and our producing wells sold their respective gas and oil production to one purchaser for each field or well. However, because alternate purchasers of oil and natural gas are readily available at similar prices, we believe that the loss of any of our purchasers would not have a material adverse effect on our financial results. A majority of the Company&#8217;s production and reserves are from the Eagleford property in South Texas and the Permian Basin of West Texas.</font></div></div>
CY2015 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Gain from Settlement Agreement</font></div><div style="line-height:174%;text-align:justify;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;">As previously reported in the Company&#8217;s Form 8-K report filed November 27, 2015, effective as of November 21, 2015, Aurora entered into a Settlement Agreement and Release (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Settlement Agreement and Release</font><font style="font-family:inherit;font-size:10pt;">&#8221;) to settle the outstanding litigation between Aurora and Trilogy in the case styled </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Trilogy Operating, Inc. v. Aurora Energy Partners</font><font style="font-family:inherit;font-size:10pt;">, which was pending in Howard County, Texas (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Litigation</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Pursuant to the Settlement Agreement and Release, Aurora agreed to assign any and all of its interests in </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> specified wells located in Glasscock and Howard Counties, those being Wagga Wagga #2, Homar #1, Ballarat &#8216;185&#8217; #1 and BOA North #5 (collectively, the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Obligation Wells</font><font style="font-family:inherit;font-size:10pt;">&#8221;). The Company has not historically included any production or reserve information in its financial or operational reporting in any of its prior filings for these Obligation Wells. </font></div><div style="line-height:120%;text-align:justify;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 Company recorded these costs, billed to it by the operator, in 2014 to oil and gas property acquisitions. In accordance with the Company&#8217;s impairment policy these costs were charged to impairment expense in the Company&#8217;s Consolidated Statement of Operations for the year ending December 31, 2014. Due to continuing litigation the related joint interest payable balance to the operator remained outstanding until the settlement on November 21, 2015. This settlement included the reversal or cancellation of all related outstanding joint interest billings payable to the operator. The Company therefore recorded a </font><font style="font-family:inherit;font-size:10pt;">$637,248</font><font style="font-family:inherit;font-size:10pt;"> non-cash gain on the settlement of this matter in the Company&#8217;s Consolidated Statement of Operations for the year ending December 31, 2015.</font></div></div>
CY2015 us-gaap Property Plant And Equipment Preproduction Design And Development Costs
PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Other Property and Equipment:</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;">Our office equipment in Austin, Texas is being depreciated on the straight-line method over the estimated useful life of </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> years.</font></div></div>
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications:</font></div><div style="line-height:120%;text-indent:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to accounts receivable - affiliates (reduction of </font><font style="font-family:inherit;font-size:10pt;">$50,000</font><font style="font-family:inherit;font-size:10pt;">); accrued liabilities - related parties (increase of </font><font style="font-family:inherit;font-size:10pt;">$100,000</font><font style="font-family:inherit;font-size:10pt;">); and additional paid in capital (reduction of </font><font style="font-family:inherit;font-size:10pt;">$150,000</font><font style="font-family:inherit;font-size:10pt;">) on the </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> Consolidated Balance Sheet to conform to the presentation on the current period&#160;Consolidated Balance Sheet and reflect the proper classification of working capital advances from a member of the Navitus Energy Group. The total </font><font style="font-family:inherit;font-size:10pt;">$100,000</font><font style="font-family:inherit;font-size:10pt;"> advance was repaid in January 2015. These reclassifications had no impact on the net income for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2015 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<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;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">:</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 Company uses the sales method of accounting for oil and natural gas revenues. Under this method, revenues are recognized based on actual volumes of gas and oil sold to purchasers. The volumes sold may differ from the volumes to which the Company is entitled based on our interests in the properties. Differences between volumes sold and entitled volumes create oil and natural gas imbalances which are generally reflected as adjustments to reported proved oil and natural gas reserves and future cash flows in their supplemental oil and natural gas disclosures. If their excess takes of natural gas or oil exceed their estimated remaining proved reserves for a property, a natural gas or oil imbalance liability is recorded in the Consolidated Balance Sheets.</font></div></div>
CY2015 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 consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (&#8220;GAAP&#8221;) 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 and impaired oil and natural gas properties, taxes, accruals of capitalized costs, operating costs and production revenue, general and administrative costs and interest, purchase price allocation on properties acquired, various common stock, warrants and option transactions, and loss contingencies.</font></div></div>

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