$VYEY
Victory Clean Energy Inc Stock $vyey

$vyey Overview Financials Valuation SEC Filings Company Website

2017 Q3 Form 10-Q Financial Statement

#000162828017008594 Filed on August 11, 2017

Income Statement

Concept	2017 Q3	2017 Q2	2016 Q2
Revenue	$57.76K	$70.68K	$144.0K
YoY Change	-20.94%	-50.92%	-46.59%
Cost Of Revenue	$0.00		$30.00K
YoY Change	-100.0%		-50.0%
Gross Profit	$0.00		$50.00K
YoY Change	-100.0%		-76.19%
Gross Profit Margin	0.0%		34.72%
Selling, General & Admin	$510.0K	$510.0K	$620.0K
YoY Change	168.42%	-17.74%	-42.06%
% of Gross Profit			1240.0%
Research & Development			$0.00
YoY Change
% of Gross Profit			0.0%
Depreciation & Amortization	$20.00K	$40.00K	$20.00K
YoY Change	-50.0%	100.0%	-88.24%
% of Gross Profit			40.0%
Operating Expenses	$510.0K	$510.0K	$650.0K
YoY Change	121.74%	-21.54%	-47.58%
Operating Profit	-$499.3K	-$521.5K	-$537.8K
YoY Change	185.25%	-3.03%	-59.66%
Interest Expense	$106.7K	$98.63K	$33.12K
YoY Change	220.55%	197.77%	16.31%
% of Operating Profit
Other Income/Expense, Net	-$105.9K	-$98.63K	-$31.82K
YoY Change	225.48%	209.98%	16.54%
Pretax Income	-$605.1K	-$620.2K	-$569.6K
YoY Change	191.56%	8.87%	-58.13%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$599.2K	-$585.3K	-$543.5K
YoY Change	206.46%	7.69%	-56.43%
Net Earnings / Revenue	-1037.28%	-828.08%	-377.39%
Basic Earnings Per Share
Diluted Earnings Per Share	-$743.9K	-$734.9K	-$658.5K
COMMON SHARES
Basic Shares Outstanding	31.22M shares	31.22M shares	31.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q3	2017 Q2	2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$10.00K	$50.00K	$60.00K
YoY Change	0.0%	-16.67%
Cash & Equivalents	$10.63K	$47.16K	$56.77K
Short-Term Investments
Other Short-Term Assets	$10.00K	$30.00K	$10.00K
YoY Change		200.0%	0.0%
Inventory
Prepaid Expenses	$10.10K	$26.72K	$5.242K
Receivables	$37.76K	$28.97K	$57.96K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$266.3K	$102.8K	$254.2K
YoY Change	41.85%	-59.54%	48.56%
LONG-TERM ASSETS
Property, Plant & Equipment	$560.0K	$580.0K	$690.0K
YoY Change	-15.15%	-15.94%	-57.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets			$30.00K
YoY Change			-57.14%
Total Long-Term Assets	$18.19M	$723.7K	$721.6K
YoY Change	2577.42%	0.29%	-57.69%
TOTAL ASSETS
Total Short-Term Assets	$266.3K	$102.8K	$254.2K
Total Long-Term Assets	$18.19M	$723.7K	$721.6K
Total Assets	$18.45M	$826.6K	$975.8K
YoY Change	2028.35%	-15.3%	-48.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$572.3K	$570.7K	$1.548M
YoY Change	-48.66%	-63.14%	-25.79%
Accrued Expenses	$419.1K	$404.4K	$394.3K
YoY Change	2.44%	2.57%	-19.29%
Deferred Revenue
YoY Change
Short-Term Debt	$550.0K	$540.0K	$680.0K
YoY Change	-17.91%	-20.59%	-13.92%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.679M	$2.849M	$3.708M
YoY Change	-50.45%	-23.16%	-6.52%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$30.00K	$40.00K	$30.00K
YoY Change	0.0%	33.33%	0.0%
Total Long-Term Liabilities	$29.69K	$40.90K	$28.09K
YoY Change	-4.63%	45.58%	-14.14%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.679M	$2.849M	$3.708M
Total Long-Term Liabilities	$29.69K	$40.90K	$28.09K
Total Liabilities	$1.709M	$2.890M	$3.736M
YoY Change	-50.03%	-22.65%	-6.58%
SHAREHOLDERS EQUITY
Retained Earnings	-$47.99M	-$47.39M	-$45.27M
YoY Change	5.55%	4.68%	5.52%
Common Stock	$60.71M	$36.17M	$35.80M
YoY Change	69.53%	1.03%	1.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$7.720M	-$11.23M	-$9.477M
YoY Change
Total Liabilities & Shareholders Equity	$18.45M	$826.6K	$975.8K
YoY Change	2028.35%	-15.3%	-48.01%

Cashflow Statement

Concept	2017 Q3	2017 Q2	2016 Q2
OPERATING ACTIVITIES
Net Income	-$599.2K	-$585.3K	-$543.5K
YoY Change	206.46%	7.69%	-56.43%
Depreciation, Depletion And Amortization	$20.00K	$40.00K	$20.00K
YoY Change	-50.0%	100.0%	-88.24%
Cash From Operating Activities	-$150.0K	-$500.0K	-$650.0K
YoY Change	-65.91%	-23.08%	1200.0%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00	$0.00
YoY Change			-100.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00	$10.00K
YoY Change		-100.0%
Cash From Investing Activities	$0.00	$0.00	$10.00K
YoY Change		-100.0%	-102.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	110.0K	530.0K	670.0K
YoY Change	-71.79%	-20.9%	179.17%
NET CHANGE
Cash From Operating Activities	-150.0K	-500.0K	-650.0K
Cash From Investing Activities	0.000	0.000	10.00K
Cash From Financing Activities	110.0K	530.0K	670.0K
Net Change In Cash	-40.00K	30.00K	30.00K
YoY Change	-20.0%	0.0%	-116.67%
FREE CASH FLOW
Cash From Operating Activities	-$150.0K	-$500.0K	-$650.0K
Capital Expenditures	$0.00	$0.00	$0.00
Free Cash Flow	-$150.0K	-$500.0K	-$650.0K
YoY Change	-65.91%	-23.08%	-303.12%

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	2017
	dei	Document Period End Date DocumentPeriodEndDate	2017-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000700764
CY2017Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	31220326	shares
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
	dei	Entity Registrant Name EntityRegistrantName	VICTORY ENERGY CORP
	dei	Trading Symbol TradingSymbol	VYEY
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CY2016Q2	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	79185	USD
	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	145178	USD
CY2017Q2	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	70680	USD
	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	155980	USD
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-537809	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1004622	USD
CY2017Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-516362	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1092257	USD
CY2016Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	9283	USD
CY2017Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	9283	USD
	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	18442	USD
	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	0	USD
CY2016Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	9951	USD
CY2017Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	26715	USD
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	0	USD
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	320000	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	8294	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	0	USD
CY2016Q2	us-gaap	Production Tax Expense ProductionTaxExpense	3782	USD
	us-gaap	Production Tax Expense ProductionTaxExpense	7055	USD
CY2017Q2	us-gaap	Production Tax Expense ProductionTaxExpense	3806	USD
	us-gaap	Production Tax Expense ProductionTaxExpense	8491	USD
CY2016Q2	us-gaap	Profit Loss ProfitLoss	-569628	USD
	us-gaap	Profit Loss ProfitLoss	-1068294	USD
CY2017Q2	us-gaap	Profit Loss ProfitLoss	-614173	USD
	us-gaap	Profit Loss ProfitLoss	-1278349	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	46883	USD
CY2017Q2	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	43622	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	30893	USD
CY2017Q2	us-gaap	Property Plant And Equipment Other Accumulated Depreciation PropertyPlantAndEquipmentOtherAccumulatedDepreciation	40211	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	15990	USD
CY2017Q2	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	3411	USD
CY2016Q4	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	9695367	USD
CY2017Q2	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	9702938	USD
	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	0	USD
	us-gaap	Results Of Operations Accretion Of Asset Retirement Obligations ResultsOfOperationsAccretionOfAssetRetirementObligations	1597	USD
CY2016Q2	vyey	Depletionand Accretion Expense DepletionandAccretionExpense	26651	USD
	vyey	Depletionand Accretion Expense DepletionandAccretionExpense	73054	USD
	us-gaap	Results Of Operations Accretion Of Asset Retirement Obligations ResultsOfOperationsAccretionOfAssetRetirementObligations	1655	USD
CY2016Q2	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	28267	USD
	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	76286	USD
CY2017Q2	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	37259	USD
	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	62300	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-46140750	USD
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-47393299	USD
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	144009	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	210002	USD
CY2017Q2	us-gaap	Sales Revenue Net SalesRevenueNet	70680	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	155980	USD
CY2016Q2	us-gaap	Share Based Compensation ShareBasedCompensation	33994	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	57409	USD
CY2017Q2	us-gaap	Share Based Compensation ShareBasedCompensation	8337	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	179034	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	-10314051	USD
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	-11227566	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-2428885	USD
CY2017Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-2063198	USD
CY2016Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1375940	USD
CY2017Q2	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	1375940	USD
CY2016Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
CY2017Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31220326	shares
	vyey	Amortizationof Deferred Financing Costsasa Resultof Debt Settlement AmortizationofDeferredFinancingCostsasaResultofDebtSettlement	0	USD
	vyey	Amortizationof Deferred Financing Costsasa Resultof Debt Settlement AmortizationofDeferredFinancingCostsasaResultofDebtSettlement	163392	USD
CY2017Q2	vyey	Depletionand Accretion Expense DepletionandAccretionExpense	26295	USD
	vyey	Depletionand Accretion Expense DepletionandAccretionExpense	49720	USD
	vyey	Investment Warrants Exercise Price1 InvestmentWarrantsExercisePrice1	0.06
CY2016Q2	vyey	Management Fee Related Party ManagementFeeRelatedParty	1305	USD
	vyey	Management Fee Related Party ManagementFeeRelatedParty	2641	USD
CY2017Q2	vyey	Management Fee Related Party ManagementFeeRelatedParty	822	USD
	vyey	Management Fee Related Party ManagementFeeRelatedParty	1899	USD
CY2016Q4	vyey	Oil And Gas Property Successful Effort Method Cost OilAndGasPropertySuccessfulEffortMethodCost	11071307	USD
CY2017Q2	vyey	Oil And Gas Property Successful Effort Method Cost OilAndGasPropertySuccessfulEffortMethodCost	11078878	USD
	vyey	Relatedpartycontribution Relatedpartycontribution	972000	USD
	vyey	Relatedpartycontribution Relatedpartycontribution	1305000	USD
	vyey	Warrants Issued WarrantsIssued	2640000	shares
	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;">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>
	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;">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;">three</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>
	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;">Revenue Recognition:</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>
	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;">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 GAAP requires 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

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0001628280-17-008594-index.html	Edgar Link	pending
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vyey06301710q.htm	Edgar Link	pending

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$VYEY
Victory Clean Energy Inc Stock $vyey

2017 Q3 Form 10-Q Financial Statement

#000162828017008594 Filed on August 11, 2017

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Balance Sheet

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$VYEY Victory Clean Energy Inc Stock $vyey

2017 Q3 Form 10-Q Financial Statement

#000162828017008594 Filed on August 11, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VYEY
Victory Clean Energy Inc Stock $vyey