Torchlight Energy Resources, Inc. (TRCH) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments0011210
Cash and cash equivalents0011210
Receivables     0 
Prepaid expense0000000
Other current assets  00000
Other undisclosed current assets0112101
Total current assets:1123321
Noncurrent Assets
Property, plant and equipment0000000
Oil and gas property, full cost method314037269734
Regulated entity, other noncurrent assets     00
Other undisclosed noncurrent assets1 00000
Total noncurrent assets:324037269735
TOTAL ASSETS:3241382912936
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3322125
Accounts payable1111014
Accrued liabilities1111110
Interest and dividends payable1010000
Debt 10   01
Due to related parties0000000
Other undisclosed current liabilities0101407
Total current liabilities:314225213
Noncurrent Liabilities
Long-term debt and lease obligation 763   
Long-term debt, excluding current maturities 763   
Liabilities, other than long-term debt0000000
Accounts payable and accrued liabilities0      
Asset retirement obligations 000000
Due to related parties0      
Other undisclosed noncurrent liabilities165127   
Total noncurrent liabilities:17121811000
Total liabilities:202620135313
Stockholders' equity
Stockholders' equity attributable to parent, including:131518167319
Preferred stock     0 
Common stock0000000
Additional paid in capital12411410799906243
Accumulated deficit(112)(99)(89)(84)(83)(75)(32)
Warrants and rights outstanding     168
Other undisclosed stockholders' equity attributable to parent      (0)
Total stockholders' equity:131518167319
Other undisclosed liabilities and equity     34
TOTAL LIABILITIES AND EQUITY:3241382912936

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues0111026
Revenue, net1026
Cost of revenue(0)(0)(1)(0)(0)(1)(1)
Cost of goods and services sold(0)(0) (0)(0)(1)(1)
Gross profit:0000014
Operating expenses(9)(9)64(7)(17)(13)
Operating income (loss):(9)(9)64(7)(16)(9)
Nonoperating income (expense)(3)(1)(1)2028(7)
Other nonoperating income (expense)(3)(1)(1)2028(7)
Interest and debt expense(0) 0   0
Income (loss) from continuing operations before equity method investments, income taxes:(13)(10)67(7)12(16)
Other undisclosed income (loss) from continuing operations before income taxes0 (12)(8)(1)(55)(0)
Net loss available to common stockholders, basic:(13)(10)(6)(1)(8)(43)(16)
Interest on convertible debt11(1)(0)02(7)
Net loss available to common stockholders, diluted:(12)(9)(6)(1)(7)(41)(23)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net loss:(13)(10)(6)(1)(8)(43)(16)
Comprehensive loss, net of tax, attributable to parent:(13)(10)(6)(1)(8)(43)(16)

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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