Royal Energy Resources, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - January 11, 2013

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EX-31.1 - ROYAL ENERGY RESOURCES, INC. FORM 10-Q - Royal Energy Resources, Inc.ex31-1.htm
10-Q - Royal Energy Resources, Inc.form10q.htm
v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended 88 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Cash flows from operating activities      
Net loss $ (44,304) $ (58,875) $ (3,317,828)
Adjustment to reconcile net loss to net cash used in operating activities      
Depreciation, depletion and amortization       2,148
Value of common shares issued for services and loan extension fees 3,164    2,234,365
Loss on rescission of condominium purchase       15,000
Interest accrued on stock subscription (1,551) (1,557) (30,587)
Asset impairment       75,164
Loan extension paid with common stock    52,000 118,000
Beneficial conversion feature of convertible notes       11,100
Bad debt expense       9,619
Change in other assets and liablities:      
Accounts receivable    8,000 1,133
Prepaid expenses and other assets       49,392
Accounts payable 21,220 (287) 63,864
Accrued expenses 2,699    11,196
Net cash used in operations (18,772) (719) (757,434)
Cash flows from investing activities      
Investment in real estate       (11,000)
Oil and gas property expenditures    (2,367) (160,977)
Proceeds from sale of undeveloped leasehold       87,275
Proceeds from sale of oil and gas properties       6,500
Investment in rare earth and precious metals property       (14,293)
Net cash used in investing activities    (2,367) (92,495)
Cash flows from financing activities      
Proceeds of stockholder loans       8,182
Proceeds from subscription receivable 970 3,120 118,889
Loan proceeds       164,000
Loan repayment       (98,400)
Proceeds from sale of common stock       656,842
Proceeds from sale of preferred stock       1,000
Net cash provided by financing activities 970 3,120 850,513
Net increase (decrease) in cash and cash equivalents (17,802) 34 584
Cash, beginning of period 18,386 35   
Cash, end of period 584 69 584
Supplemental cash flow information      
Cash paid for interest       32,681
Cash paid for income taxes         
Non-cash investing and financing activities:      
Issuance of common stock for real estate       190,000
Contribution of stockholder loan to capital       6,560
Disposition of real estate per stock rescission agreement       200,000
Common stock issued for participation in drilling program       6,000
Common stock issued for stock subscription receivables       615,922
Accounts receivable exchanged for accounts payable       14,578
Drilling prepayment transferred to accounts receivable       28,079
Common stock cancelled for rescinded drilling program       1,000
Common stock and stock subscription receivables cancelled       147,336
Stock subscription receivable paid to reduce convertible note payable    9,000 14,400
Accounts payable exchanged for convertible notes payable         

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