Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 3,870,499 $ 457,331
Restricted cash 3,296,514
Inventory 22,942 22,942
Investment in farming activities 265,976
Prepaid expenses and other current assets 7,225,373
Total Current Assets 14,681,304 480,273
DEBT ISSUANCE COSTS 840,211 500,000
RIGHT-OF-USE ASSET 67,103 82,450
INTANGIBLE ASSETS, NET 5,768,012 2,501,592
DEPOSITS 1,246,978 3,253,253
PROPERTY AND EQUIPMENT, NET 124,918,910
PRE-ACQUISITION COSTS 2,588,441
ADVANCES TO CONTRACTORS 19,440,631
TOTAL ASSETS 166,963,149 9,406,009
CURRENT LIABILITIES    
Accounts payable and accrued expenses 3,418,303 1,778,434
Accrued compensation and related liabilities 2,432,474 2,055,167
Accrued interest 3,096,990 1,734,527
Lease liabilities 68,053 82,882
Notes payable including current portion of long-term debt, net 4,142,582 1,369,856
Convertible notes payable 1,697,000 1,697,000
Derivative Liability 24,767,000
Total Current Liabilities 14,855,402 33,484,866
LONG-TERM LIABILITIES    
Mandatorily redeemable preferred equity of subsidiary 939,000
Long-term debt, net 16,320,831
Long-term debt, net (credit facility) 76,045,162
Asset retirement obligations 40,740,700
Environmental liabilities 33,987,800
Other liabilities 377,331
TOTAL LIABILITIES 183,266,226 33,484,866
STOCKHOLDERS' DEFICIT    
Preferred stock - $0.001 par value; 50,000,000 shares authorized Series B, convertible; 13,000 shares issued and outstanding (aggregate liquidation preference of $1,300,000) 13 13
Common stock, $0.001 par value; 500,000,000 shares authorized; 358,499,606 and 344,029,434 shares issued and outstanding, respectively 358,499 344,029
Additional paid-in capital 36,994,168 31,259,365
Accumulated deficit (53,655,757) (55,682,264)
Total Stockholders' Deficit (16,303,077) (24,078,857)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 166,963,149 $ 9,406,009