$VYEY
Victory Clean Energy Inc Stock $vyey

$vyey Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000162828017005592 Filed on May 15, 2017

Income Statement

Concept	2017 Q2	2017 Q1	2016 Q1
Revenue	$70.68K	$85.30K	$65.99K
YoY Change	-50.92%	29.26%	-48.67%
Cost Of Revenue			$40.00K
YoY Change			0.0%
Gross Profit			$30.00K
YoY Change			-66.67%
Gross Profit Margin			45.46%
Selling, General & Admin	$510.0K	$560.0K	$440.0K
YoY Change	-17.74%	27.27%	-73.17%
% of Gross Profit			1466.67%
Research & Development			$0.00
YoY Change
% of Gross Profit			0.0%
Depreciation & Amortization	$40.00K	$23.83K	$46.94K
YoY Change	100.0%	-49.23%	-37.58%
% of Gross Profit			156.46%
Operating Expenses	$510.0K	$560.0K	$490.0K
YoY Change	-21.54%	14.29%	-71.51%
Operating Profit	-$521.5K	-$604.9K	-$466.8K
YoY Change	-3.03%	29.58%	-71.56%
Interest Expense	$98.63K	$89.36K	$33.19K
YoY Change	197.77%	169.24%	77.42%
% of Operating Profit
Other Income/Expense, Net	-$98.63K	-$89.36K	-$31.85K
YoY Change	209.98%	180.53%	85.12%
Pretax Income	-$620.2K	-$694.2K	-$498.7K
YoY Change	8.87%	39.22%	-69.93%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$585.3K	-$667.3K	-$441.6K
YoY Change	7.69%	51.09%	-71.44%
Net Earnings / Revenue	-828.08%	-782.25%	-669.2%
Basic Earnings Per Share
Diluted Earnings Per Share	-$734.9K	-$804.9K	-$536.6K
COMMON SHARES
Basic Shares Outstanding	31.22M shares	31.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q2	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$50.00K	$20.00K	$30.00K
YoY Change	-16.67%	-33.33%	-83.33%
Cash & Equivalents	$47.16K	$20.48K	$28.07K
Short-Term Investments
Other Short-Term Assets	$30.00K	$10.00K	$10.00K
YoY Change	200.0%	0.0%	0.0%
Inventory
Prepaid Expenses	$26.72K	$7.494K	$6.988K
Receivables	$28.97K	$38.28K	$38.41K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$102.8K	$66.25K	$206.4K
YoY Change	-59.54%	-67.9%	-40.74%
LONG-TERM ASSETS
Property, Plant & Equipment	$580.0K	$620.0K	$750.0K
YoY Change	-15.94%	-17.33%	-62.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets			$40.00K
YoY Change			-50.0%
Total Long-Term Assets	$723.7K	$759.7K	$789.9K
YoY Change	0.29%	-3.82%	-62.24%
TOTAL ASSETS
Total Short-Term Assets	$102.8K	$66.25K	$206.4K
Total Long-Term Assets	$723.7K	$759.7K	$789.9K
Total Assets	$826.6K	$826.0K	$996.3K
YoY Change	-15.3%	-17.1%	-59.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$570.7K	$531.8K	$1.705M
YoY Change	-63.14%	-68.81%	-11.69%
Accrued Expenses	$404.4K	$405.4K	$381.2K
YoY Change	2.57%	6.34%	66.81%
Deferred Revenue
YoY Change
Short-Term Debt	$540.0K	$580.0K	$680.0K
YoY Change	-20.59%	-14.71%	-35.24%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$2.849M	$2.888M	$3.842M
YoY Change	-23.16%	-24.84%	9.36%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$40.00K	$40.00K	$50.00K
YoY Change	33.33%	-20.0%	66.67%
Total Long-Term Liabilities	$40.90K	$40.45K	$48.31K
YoY Change	45.58%	-16.28%	50.23%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.849M	$2.888M	$3.842M
Total Long-Term Liabilities	$40.90K	$40.45K	$48.31K
Total Liabilities	$2.890M	$2.928M	$3.891M
YoY Change	-22.65%	-24.73%	9.73%
SHAREHOLDERS EQUITY
Retained Earnings	-$47.39M	-$46.81M	-$44.73M
YoY Change	4.68%	4.64%	7.38%
Common Stock	$36.17M	$36.16M	$35.76M
YoY Change	1.03%	1.1%	1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$11.23M	-$10.65M	-$8.967M
YoY Change
Total Liabilities & Shareholders Equity	$826.6K	$826.0K	$996.3K
YoY Change	-15.3%	-17.1%	-59.17%

Cashflow Statement

Concept	2017 Q2	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	-$585.3K	-$667.3K	-$441.6K
YoY Change	7.69%	51.09%	-71.44%
Depreciation, Depletion And Amortization	$40.00K	$23.83K	$46.94K
YoY Change	100.0%	-49.23%	-37.58%
Cash From Operating Activities	-$500.0K	-$817.0K	-$257.9K
YoY Change	-23.08%	216.82%	-83.92%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00	-$20.00K
YoY Change		-100.0%	-86.67%
Acquisitions
YoY Change
Other Investing Activities	$0.00
YoY Change	-100.0%
Cash From Investing Activities	$0.00	$0.00	-$18.44K
YoY Change	-100.0%	-100.0%	-87.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	530.0K	$781.0K	$302.0K
YoY Change	-20.9%	158.61%	-84.31%
NET CHANGE
Cash From Operating Activities	-500.0K	-$817.0K	-$257.9K
Cash From Investing Activities	0.000	$0.00	-$18.44K
Cash From Financing Activities	530.0K	$781.0K	$302.0K
Net Change In Cash	30.00K	-$35.98K	$25.69K
YoY Change	0.0%	-240.06%	-85.2%
FREE CASH FLOW
Cash From Operating Activities	-$500.0K	-$817.0K	-$257.9K
Capital Expenditures	$0.00	$0.00	-$20.00K
Free Cash Flow	-$500.0K	-$817.0K	-$237.9K
YoY Change	-23.08%	243.46%	-83.64%

Facts In Submission

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CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000700764
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CY2017Q1	vyey	Management Fee Related Party ManagementFeeRelatedParty	1077	USD
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
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CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	VICTORY ENERGY CORP
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CY2016Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	9951	USD
CY2017Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	7494	USD
CY2016Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	0	USD
CY2017Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	320000	USD
CY2016Q1	us-gaap	Production Tax Expense ProductionTaxExpense	3273	USD
CY2017Q1	us-gaap	Production Tax Expense ProductionTaxExpense	4685	USD
CY2016Q1	us-gaap	Profit Loss ProfitLoss	-498666	USD
CY2017Q1	us-gaap	Profit Loss ProfitLoss	-664177	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	46883	USD
CY2017Q1	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	46883	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	30893	USD
CY2016Q1	us-gaap	Results Of Operations Accretion Of Asset Retirement Obligations ResultsOfOperationsAccretionOfAssetRetirementObligations	1080	USD
CY2017Q1	us-gaap	Results Of Operations Accretion Of Asset Retirement Obligations ResultsOfOperationsAccretionOfAssetRetirementObligations	1208	USD
CY2016Q1	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	48019	USD
CY2017Q1	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	25041	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-46140750	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-46808011	USD
CY2016Q1	us-gaap	Sales Revenue Net SalesRevenueNet	65993	USD
CY2017Q1	us-gaap	Sales Revenue Net SalesRevenueNet	85300	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	23415	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	170697	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	-10314051	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	-10650615	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-2428885	USD
CY2017Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-2102364	USD
CY2016Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1375940	USD
CY2017Q1	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1375940	USD
CY2016Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
CY2017Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
CY2016Q1	vyey	Amortizationof Deferred Financing Costsasa Resultof Debt Settlement AmortizationofDeferredFinancingCostsasaResultofDebtSettlement	11745	USD
CY2017Q1	vyey	Oil And Gas Property Successful Effort Method Cost OilAndGasPropertySuccessfulEffortMethodCost	11078878	USD
CY2016Q1	vyey	Relatedpartycontribution Relatedpartycontribution	302000	USD
CY2017Q1	vyey	Relatedpartycontribution Relatedpartycontribution	660000	USD
CY2017Q1	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;"> </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 2017 and 2016, 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’s production and reserves are from the Eagle Ford property in South Texas and the Permian Basin of West Texas.</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>
CY2017Q1	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>
CY2017Q1	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>
CY2017Q1	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 (“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 (“DD&A”) expense, property costs, estimated future net cash flows from proved reserves, assumptions related to abandonments and impairments of 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 style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

Files In Submission

Name	View Source	Status
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0001628280-17-005592-index.html	Edgar Link	pending
0001628280-17-005592.txt	Edgar Link	pending
0001628280-17-005592-xbrl.zip	Edgar Link	pending
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Financial_Report.xlsx	Edgar Link	pending
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vyey-20170331.xml	Edgar Link	completed
vyey-20170331.xsd	Edgar Link	pending
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vyey03311710q.htm	Edgar Link	pending

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$VYEY
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2017 Q2 Form 10-Q Financial Statement

#000162828017005592 Filed on May 15, 2017

Income Statement

Balance Sheet

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$VYEY Victory Clean Energy Inc Stock $vyey

2017 Q2 Form 10-Q Financial Statement

#000162828017005592 Filed on May 15, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VYEY
Victory Clean Energy Inc Stock $vyey