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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 4 Months Ended 8 Months Ended 9 Months Ended 12 Months Ended
Apr. 30, 2011
Dec. 31, 2011
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Cash Flows From Operating Activities          
Net income (loss) for the period $ 8,322 $ 63,165 $ (1,987,166) $ (1,803,104) $ (1,669,283)
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation, depletion and amortization 2,778 89,376 1,657,386 293,102 506,786
Accretion expenses. 3,732 5,547 37,183 14,287 20,906
Share-based compensation 0 95,897 2,598,046 707,090 944,681
Gain on derivative put option. 0 160,000 0 0 0
Gain on change in value of Ring Energy, Inc. common stock 0 (160,000) 0 0 0
Interest expense on advances from Ring Energy, Inc. 0 3,122 0 0 0
Provision for incomes taxes 0 0 0 0 (300,324)
Changes in assets and liabilities:          
Accounts receivables. 4,677 (38,744) (1,304,357) (39,794) (326,943)
Prepaid expense. 0 (121,301) (8,169) 27,537 87,845
Accounts payables. 6,907 68,140 4,056,603 1,558,156 1,081,217
Accrued compensation, 0 100,000 0 (100,000) (100,000)
Net Cash Provided by (Used in) Operating Activities 26,416 31,256 5,049,526 510,642 (31,851)
Cash Flows from Investing Activities          
Payments to purchase oil and natural gas properties 0 (5,144,565) (4,125,676) (124,050) (3,684,674)
Payments to develop oil and natural gas properties 0 (317,042) (17,356,478) (4,711,752) (6,532,898)
Purchase of office equipment 0 (11,133) (82,805) (179,078) (159,977)
Net Cash Used in Investing Activities 0 (5,472,740) (21,564,959) (5,014,880) (10,377,549)
Cash Flows From Financing Activities          
Proceeds from borrowings from Ring Energy, Inc. 0 850,000 0 1,150,000 1,150,000
Proceeds from borrowings under revolving line of credit 0 9,244,428 0 0 0
Proceeds from issuance of common stock 0 0 18,978,882 11,545,983 13,009,062
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders 0 0 0 10,887,561 10,887,561
Principal payments on revolving line of credit 0 0 0 (9,244,428) (9,244,428)
Redemption of common stock 0 (4,521,572) 0 0 0
Capital contributions from shareholders 0 100,000 0 0 0
Capital distributions to owners (26,416) (250,000) 0 0 0
Net Cash Provided by (Used in) Financing Activities (26,416) 5,422,856 18,978,882 14,339,116 15,802,195
Net Increase (Decrease) in Cash 0 (18,628) 2,463,449 9,834,878 5,392,795
Cash at Beginning of Period 0 30,000 5,404,167 11,372 11,372
Cash at End of Period 0 11,372 7,867,616 9,846,250 5,404,167
Cash paid for interest 0 91,097 0 93,471 221,927
Noncash Investing and Financing Activities          
Oil and natural gas properties acquired 0 6,104,391 0 825,765 9,689,488
Revision of asset retirement obligation estimate 0 0 211,691 0 0
Accounts receivable acquired 0 52,278 0 0 0
Deferred tax liability assumed (net) 0 0 0 0 (1,362,665)
Accounts payable assumed 0 (32,181) 0 0 0
Asset retirement obligations assumed 0 (269,241) 309,838 (14,214) (152,148)
Payments with Ring Energy, Inc. shares 0 (360,000) 0 (687,501) (4,490,001)
Derivative put option incurred 0 (350,682) 0 0 0
Cash payments for oil and natural gas properties acquired 0 5,144,565 0 0 3,684,674
Issuance of common stock to Ring Energy, Inc. shareholders 0 0 0 13,095,369 13,531,760
Accounts payables assumed. 0 0 0 9,893 9,893
Less: Tax benefit 0 0 0 0 (436,391)
Less: Elimination of note payable to Ring Energy, Inc. 0 0 0 (2,003,122) (2,003,122)
Less: Prepaid expenses acquired 0 0 0 (26,942) (26,942)
Less: Property and equipment acquired 0 0 0 (187,637) (187,637)
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders 0 0 0 10,887,561 10,887,561
Capital contribution of Ring Energy, Inc. common stock $ 0 $ 200,000 $ 0 $ 0 $ 0