$VYEY
Victory Clean Energy Inc

2017 Q4 Form 10-Q Financial Statement

#000162828017011516 Filed on November 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $0.00 $57.76K $73.07K
YoY Change -100.0% -20.94% -52.07%
Cost Of Revenue $0.00 $20.00K
YoY Change -100.0% -50.0%
Gross Profit $0.00 $50.00K
YoY Change -100.0% -54.55%
Gross Profit Margin 0.0% 68.43%
Selling, General & Admin $590.0K $510.0K $190.0K
YoY Change -15.71% 168.42% -79.79%
% of Gross Profit 380.0%
Research & Development $0.00
YoY Change -100.0%
% of Gross Profit 0.0%
Depreciation & Amortization $11.32K $20.00K $40.00K
YoY Change -43.4% -50.0% -55.56%
% of Gross Profit 80.0%
Operating Expenses $610.0K $510.0K $230.0K
YoY Change -16.44% 121.74% -77.67%
Operating Profit -$499.3K -$175.0K
YoY Change 185.25% -80.89%
Interest Expense -$40.00K $106.7K $33.30K
YoY Change 33.33% 220.55% 3.35%
% of Operating Profit
Other Income/Expense, Net -$105.9K -$32.53K
YoY Change 225.48% 11.52%
Pretax Income -$650.0K -$605.1K -$207.5K
YoY Change 3.17% 191.56% -78.04%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.84M -$599.2K -$195.5K
YoY Change 2711.94% 206.46% -77.85%
Net Earnings / Revenue -1037.28% -267.59%
Basic Earnings Per Share
Diluted Earnings Per Share -$11.02M -$743.9K -$243.9K
COMMON SHARES
Basic Shares Outstanding 31.22M shares 31.22M shares 31.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.38K $10.00K $10.00K
YoY Change -59.37% 0.0% -90.91%
Cash & Equivalents $24.38K $10.63K $5.879K
Short-Term Investments
Other Short-Term Assets $112.2K $10.00K $0.00
YoY Change 1022.2%
Inventory
Prepaid Expenses $112.2K $10.10K $3.496K
Receivables $0.00 $37.76K $43.37K
Other Receivables $0.00 $0.00
Total Short-Term Assets $136.6K $266.3K $187.7K
YoY Change 23.3% 41.85% -30.66%
LONG-TERM ASSETS
Property, Plant & Equipment $490.00 $560.0K $660.0K
YoY Change -99.92% -15.15% -57.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.750K $20.00K
YoY Change -66.67%
Total Long-Term Assets $17.63M $18.19M $679.2K
YoY Change 2175.45% 2577.42% -58.17%
TOTAL ASSETS
Total Short-Term Assets $136.6K $266.3K $187.7K
Total Long-Term Assets $17.63M $18.19M $679.2K
Total Assets $17.77M $18.45M $867.0K
YoY Change 1906.25% 2028.35% -54.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $590.9K $572.3K $1.115M
YoY Change 40.5% -48.66% -48.73%
Accrued Expenses $374.3K $419.1K $409.1K
YoY Change -49.86% 2.44% -17.44%
Deferred Revenue
YoY Change
Short-Term Debt $896.5K $550.0K $670.0K
YoY Change 60.09% -17.91% -8.22%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.871M $1.679M $3.389M
YoY Change -43.43% -50.45% -17.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.00K $30.00K
YoY Change 0.0% 0.0%
Total Long-Term Liabilities $0.00 $29.69K $31.13K
YoY Change -100.0% -4.63% -6.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.871M $1.679M $3.389M
Total Long-Term Liabilities $0.00 $29.69K $31.13K
Total Liabilities $1.871M $1.709M $3.420M
YoY Change -43.55% -50.03% -17.31%
SHAREHOLDERS EQUITY
Retained Earnings -$66.86M -$47.99M -$45.47M
YoY Change 44.91% 5.55% 3.84%
Common Stock $87.56M $60.71M $35.81M
YoY Change 144.39% 69.53% 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.90M $7.720M -$9.658M
YoY Change
Total Liabilities & Shareholders Equity $17.77M $18.45M $867.0K
YoY Change 1906.25% 2028.35% -54.24%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$18.84M -$599.2K -$195.5K
YoY Change 2711.94% 206.46% -77.85%
Depreciation, Depletion And Amortization $11.32K $20.00K $40.00K
YoY Change -43.4% -50.0% -55.56%
Cash From Operating Activities -$468.1K -$150.0K -$440.0K
YoY Change -31.16% -65.91% 76.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $3.260K $0.00 $0.00
YoY Change -96.38%
Cash From Investing Activities $3.260K $0.00 $0.00
YoY Change -96.38% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 482.8K 110.0K 390.0K
YoY Change -24.56% -71.79% 5.41%
NET CHANGE
Cash From Operating Activities -468.1K -150.0K -440.0K
Cash From Investing Activities 3.260K 0.000 0.000
Cash From Financing Activities 482.8K 110.0K 390.0K
Net Change In Cash 17.93K -40.00K -50.00K
YoY Change -64.14% -20.0% -145.45%
FREE CASH FLOW
Cash From Operating Activities -$468.1K -$150.0K -$440.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$468.1K -$150.0K -$440.0K
YoY Change -31.16% -65.91% 83.33%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Trading Symbol
TradingSymbol
VYEY
CY2016Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
420559 USD
CY2015Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
109171 USD
CY2016Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
83991 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Period End Date
DocumentPeriodEndDate
2017-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000700764
CY2017Q4 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
CY2017Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
572295 USD
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
44379 USD
CY2017Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37755 USD
CY2016Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
137556 USD
CY2017Q3 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
207828 USD
CY2016Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
746491 USD
CY2017Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
419069 USD
CY2016Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
0 USD
CY2017Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
210000 USD
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
35795479 USD
CY2017Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
60680232 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
210000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
30617 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6237 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
30617 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6237 USD
CY2017Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
93109 USD
CY2016 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
2670 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1632 USD
CY2016Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
76850 USD
CY2017Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
63421 USD
CY2016 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0 USD
CY2016 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
27850 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0 USD
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
0 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 USD
CY2016 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 USD
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
7486 USD
CY2016Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
7141 USD
CY2017Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
29688 USD
CY2016Q4 us-gaap Assets
Assets
885675 USD
CY2017Q3 us-gaap Assets
Assets
18452147 USD
CY2016Q4 us-gaap Assets Current
AssetsCurrent
248342 USD
CY2017Q3 us-gaap Assets Current
AssetsCurrent
266309 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
233323 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2384 USD
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5879 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
56456 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10630 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3495 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-45826 USD
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
47500000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31220326 shares
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31220326 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31220326 shares
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31220326 shares
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
31220 USD
CY2017Q3 us-gaap Common Stock Value
CommonStockValue
31220 USD
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
248086 USD
us-gaap Costs And Expenses
CostsAndExpenses
1462713 USD
CY2017Q3 us-gaap Costs And Expenses
CostsAndExpenses
557019 USD
us-gaap Costs And Expenses
CostsAndExpenses
1805256 USD
CY2016Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
0 USD
CY2017Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
210000 USD
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 USD
CY2017Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
106887 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
78234 USD
CY2016Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1489973 USD
CY2017Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
65000 USD
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2016Q3 us-gaap Exploration Expense
ExplorationExpense
0 USD
us-gaap Exploration Expense
ExplorationExpense
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 us-gaap Exploration Expense
ExplorationExpense
0 USD
us-gaap Exploration Expense
ExplorationExpense
2218 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
0 USD
CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
0 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0 USD
CY2017Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17630000 USD
CY2017Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17630000 USD
CY2016Q4 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
0 USD
CY2017Q3 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
11330000 USD
CY2016Q4 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
0 USD
CY2017Q3 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
270000 USD
CY2016Q4 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
0 USD
CY2017Q3 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
6030000 USD
CY2016Q3 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
64824 USD
CY2017Q3 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
190675 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1258833 USD
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
510636 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1628124 USD
CY2016Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2017Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-207549 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1275846 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-605128 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1883477 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 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
-418151 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
151736 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
326127 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-255441 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5677 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6624 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
3413 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
70272 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-125515 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-7422 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
50000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-5238 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
145 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
33300 USD
us-gaap Interest Expense
InterestExpense
99613 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
106742 USD
us-gaap Interest Expense
InterestExpense
294733 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
33633 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
20415 USD
us-gaap Interest Paid
InterestPaid
33633 USD
us-gaap Interest Paid
InterestPaid
20469 USD
CY2016Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
20585 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
83712 USD
CY2017Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
13145 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
70885 USD
CY2016Q4 us-gaap Liabilities
Liabilities
3314560 USD
CY2017Q3 us-gaap Liabilities
Liabilities
1708756 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
885675 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
18452147 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3307419 USD
CY2017Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1679068 USD
CY2016Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
7141 USD
CY2017Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
29688 USD
CY2016Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
564263 USD
CY2017Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
0 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
7885166 USD
CY2017Q3 us-gaap Minority Interest
MinorityInterest
9023414 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1364000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1419500 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10148 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3261 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1350357 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1468587 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-195516 USD
us-gaap Net Income Loss
NetIncomeLoss
-1180617 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-599174 USD
us-gaap Net Income Loss
NetIncomeLoss
-1851725 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-12033 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-95229 USD
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-5954 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-31752 USD
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
17630000 USD
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-32528 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-96200 USD
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-105873 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-291965 USD
CY2016Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 USD
CY2017Q3 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
550000 USD
CY2017Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10096 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
820000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
8294 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
2166643 USD
CY2017Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
2234098 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
8283321 USD
CY2017Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Impairment
OilAndGasPropertySuccessfulEffortMethodAccumulatedImpairment
8283321 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
2787986 USD
CY2017Q3 us-gaap Oil And Gas Property Successful Effort Method Gross
OilAndGasPropertySuccessfulEffortMethodGross
2787986 USD
CY2016Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
621343 USD
CY2017Q3 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
553888 USD
CY2016Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
73065 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
218243 USD
CY2017Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
57764 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
213744 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-175021 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1179646 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-499255 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1591512 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9283 USD
CY2017Q3 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
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Subscribed But Unissued Subscriptions Receivable
PreferredStockSharesSubscribedButUnissuedSubscriptionsReceivable
0 USD
CY2017Q3 us-gaap Preferred Stock Shares Subscribed But Unissued Subscriptions Receivable
PreferredStockSharesSubscribedButUnissuedSubscriptionsReceivable
5000000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
9951 USD
CY2016Q3 us-gaap Production Tax Expense
ProductionTaxExpense
4097 USD
us-gaap Production Tax Expense
ProductionTaxExpense
11152 USD
CY2017Q3 us-gaap Production Tax Expense
ProductionTaxExpense
3322 USD
us-gaap Production Tax Expense
ProductionTaxExpense
11813 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-207549 USD
us-gaap Profit Loss
ProfitLoss
-1275846 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-605128 USD
us-gaap Profit Loss
ProfitLoss
-1883477 USD
CY2016Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2017Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
43622 USD
CY2016Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
30893 USD
CY2017Q3 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
41672 USD
CY2016Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
15990 USD
CY2017Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
1950 USD
CY2016Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
9695367 USD
CY2017Q3 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
9695367 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
8000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
570500 USD
vyey Amortizationof Deferred Financing Costsasa Resultof Debt Settlement
AmortizationofDeferredFinancingCostsasaResultofDebtSettlement
274264 USD
CY2016Q3 vyey Depletionand Accretion Expense
DepletionandAccretionExpense
31114 USD
us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
2129 USD
us-gaap Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
9118 USD
CY2016Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
32729 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
109016 USD
CY2017Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
29916 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
92216 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-46140750 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-47992475 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
73065 USD
us-gaap Sales Revenue Net
SalesRevenueNet
283067 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
57764 USD
us-gaap Sales Revenue Net
SalesRevenueNet
213744 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
14662 USD
us-gaap Share Based Compensation
ShareBasedCompensation
72071 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
101415 USD
us-gaap Share Based Compensation
ShareBasedCompensation
236221 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-10314051 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
7719977 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2428885 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16743391 USD
CY2016Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1375940 USD
CY2017Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
1375940 USD
CY2016Q3 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
CY2017Q3 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 Depletionand Accretion Expense
DepletionandAccretionExpense
104168 USD
CY2017Q3 vyey Depletionand Accretion Expense
DepletionandAccretionExpense
28455 USD
vyey Depletionand Accretion Expense
DepletionandAccretionExpense
78175 USD
CY2016Q3 vyey Management Fee Related Party
ManagementFeeRelatedParty
772 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
3413 USD
CY2017Q3 vyey Management Fee Related Party
ManagementFeeRelatedParty
869 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
2768 USD
CY2016Q4 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
11071307 USD
CY2017Q3 vyey Oil And Gas Property Successful Effort Method Cost
OilAndGasPropertySuccessfulEffortMethodCost
11071307 USD
vyey Relatedpartycontribution
Relatedpartycontribution
1372000 USD
vyey Relatedpartycontribution
Relatedpartycontribution
1170000 USD
vyey Revisionof Furnitureand Fixtures
RevisionofFurnitureandFixtures
0 USD
vyey Revisionof Furnitureand Fixtures
RevisionofFurnitureandFixtures
3261 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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;">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 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&#8217;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 (&#8220;DD&amp;A&#8221;) 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
0001628280-17-011516-index-headers.html Edgar Link pending
0001628280-17-011516-index.html Edgar Link pending
0001628280-17-011516.txt Edgar Link pending
0001628280-17-011516-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
q32017vyey_ex311.htm Edgar Link pending
q32017vyey_ex312.htm Edgar Link pending
q32017vyey_ex321.htm Edgar Link pending
q32017vyey_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
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-20170930.xml Edgar Link completed
vyey-20170930.xsd Edgar Link pending
vyey-20170930_cal.xml Edgar Link unprocessable
vyey-20170930_def.xml Edgar Link unprocessable
vyey-20170930_lab.xml Edgar Link unprocessable
vyey-20170930_pre.xml Edgar Link unprocessable
vyey09301710q.htm Edgar Link pending