Torchlight Energy Resources, Inc. (TRCH) financial statements (2020 and earlier)

Company profile

Business Address 5700 W. PLANO PARKWAY, SUITE 3600
PLANO, TX 75093
State of Incorp. NV
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments0112102
Cash and cash equivalents0112102
Receivables    0  
Prepaid expense000000 
Prepaid expense and other current assets0
Other current assets 00000 
Other undisclosed current assets1121010
Total current assets:1233212
Noncurrent Assets
Property, plant and equipment0000000
Oil and gas property, full cost method403726973413
Intangible assets, net (including goodwill)      0
Goodwill      0
Regulated entity, other noncurrent assets    001
Other undisclosed noncurrent assets 000000
Total noncurrent assets:403726973514
TOTAL ASSETS:4138291293617
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3221251
Accounts payable1110141
Accrued liabilities111110 
Interest and dividends payable010000 
Debt10   01 
Due to related parties0000000
Other undisclosed current liabilities1014072
Total current liabilities:142252133
Noncurrent Liabilities
Long-term debt and lease obligation763    
Long-term debt, excluding current maturities763    
Liabilities, other than long-term debt0000000
Asset retirement obligations0000000
Other undisclosed noncurrent liabilities5127    
Total noncurrent liabilities:1218110000
Total liabilities:26201353133
Stockholders' equity
Stockholders' equity attributable to parent, including:15181673199
Preferred stock    0  
Common stock0000000
Additional paid in capital1141079990624322
Accumulated deficit(99)(89)(84)(83)(75)(32)(16)
Warrants and rights outstanding    1683
Other undisclosed stockholders' equity attributable to parent     (0) 
Total stockholders' equity:15181673199
Other undisclosed liabilities and equity    345
TOTAL LIABILITIES AND EQUITY:4138291293617

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1110261
Revenue, net10261
Cost of revenue(0)(1)(0)(0)(1)(1) 
Cost of goods and services sold(0) (0)(0)(1)(1) 
Other undisclosed gross profit      (0)
Gross profit:0000141
Operating expenses(9)64(7)(17)(13)(7)
Operating income (loss):(9)64(7)(16)(9)(6)
Nonoperating income (expense)(1)(1)2028(7)2
Debt instrument, convertible, beneficial conversion feature     06
Other nonoperating income (expense)(1)(1)2028(7)(4)
Interest and debt expense 0   0 
Income (loss) from continuing operations before equity method investments, income taxes:(10)67(7)12(16)(5)
Other undisclosed loss from continuing operations before income taxes (12)(8)(1)(55)(0)(6)
Net loss available to common stockholders, basic:(10)(6)(1)(8)(43)(16)(10)
Interest on convertible debt1(1)(0)02(7)(5)
Net loss available to common stockholders, diluted:(9)(6)(1)(7)(41)(23)(15)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net loss:(10)(6)(1)(8)(43)(16)(10)
Comprehensive loss, net of tax, attributable to parent:(10)(6)(1)(8)(43)(16)(10)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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