Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 2,047,896 $ 457,331
Restricted cash 8,565,909
Inventory 22,942 22,942
Investment in farming activities 372,983
Prepaid expenses and other current assets 6,292,305
Total Current Assets 17,302,035 480,273
RESTRICTED CASH 29,396,846
DEBT ISSUANCE COSTS 840,211 500,000
RIGHT-OF-USE ASSET 59,387 82,450
INTANGIBLE ASSETS, NET 5,680,364 2,501,592
DEPOSITS 1,696,841 3,253,253
PROPERTY AND EQUIPMENT, NET 140,845,848
PRE-ACQUISITION COSTS 2,588,441
ADVANCES TO CONTRACTORS 16,000,000
TOTAL ASSETS 211,821,532 9,406,009
CURRENT LIABILITIES    
Accounts payable and accrued expenses 7,083,556 1,778,434
Accrued compensation and related liabilities 2,868,714 2,055,167
Accrued interest 2,002,951 1,734,527
Lease liabilities 60,426 82,882
Notes payable including current portion of long-term debt, net 4,426,767 1,369,856
Convertible notes payable 1,697,000 1,697,000
Derivative Liability 24,767,000
Total Current Liabilities 18,139,414 33,484,866
LONG-TERM LIABILITIES    
Mandatorily redeemable preferred equity of subsidiary 1,476,000
Long-term debt, net 16,095,694
Long-term debt, net (credit facility) 122,242,781
Asset retirement obligations 41,054,035
Environmental liabilities 34,157,800
Other liabilities 377,329
TOTAL LIABILITIES 233,543,053 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 37,003,306 31,259,365
Accumulated deficit (59,083,339) (55,682,264)
Total Stockholders' Deficit (21,721,521) (24,078,857)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 211,821,532 $ 9,406,009