General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED BALANCE SHEETS

v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
Dec. 31, 2011
Current Assets      
Cash $ 7,867,616 $ 5,404,167 $ 11,372
Accounts receivable 1,722,322 417,965 91,022
Prepaid expenses and retainers 68,567 60,398 121,301
Total Current Assets 9,658,505 5,882,530 223,695
Properties and Equipment      
Oil and natural gas properties subject to amortization 45,055,587 23,051,904 6,597,433
Office equipment 257,911 175,106 11,133
Total Properties and Equipment 45,313,498 23,227,010 6,608,566
Accumulated depreciation, depletion and amortization (2,253,548) (596,162) (89,376)
Net Properties and Equipment 43,059,950 22,630,848 6,519,190
Total Assets 52,718,455 28,513,378 6,742,885
Current Liabilities      
Accounts payable 5,248,034 1,191,431 100,321
Accrued compensation 0 0 100,000
Derivative put option 0 0 276,736
Total Current Liabilities 5,248,034 1,191,431 477,057
Noncurrent Liabilities      
Revolving line of credit 0 0 9,244,428
Note payable to Ring Energy, Inc. 0 0 853,122
Deferred income taxes 625,950 625,950 0
Asset retirement obligations 1,054,998 496,286 274,788
Total Noncurrent Liabilities 16.80948 1,122,236 10,372,338
Stockholders' Equity (Deficit)      
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding 0 0 0
Common stock - $0.001 par value; 150,000,000 shares authorized; 17,801,313 shares, 14,166,011 shares and 3,440,000 shares outstanding, respectively 17,801 14,166 3,440
Additional paid-in capital 53,742,656 32,169,363 204,585
Accumulated deficit (7,970,984) (5,983,818) (4,314,535)
Total Stockholders' Equity (Deficit) 45,789,473 26,199,711 (4,106,510)
Total Liabilities and Stockholders' Equity (Deficit) $ 52,718,455 $ 28,513,378 $ 6,742,885