American Energy Capital Partners, LP

CIK:0001591834|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Income Statement [Abstract]

Income

$ 0

Expenses

Advisory fees

152,206

304,412

Insurance expense

129,500

43,167

259,000

43,167

Management fee expense

76,050

128,310

Professional fees

29,075

30,000

71,642

30,000

Other expenses

17,046

22,549

184

Interest expense

473

947

473

Total expenses

403,877

73,640

786,860

73,824

Net income (loss)

(403,877)

(73,640)

(786,860)

(73,824)

Less: General partner interest in net loss

(184)

Limited partners' interest in net loss

$ (403,877)

$ (73,640)

$ (786,860)

$ (73,640)

Net loss per common unit (basic and diluted) (in shares)

^[1]

$ (0.85)

$ (0.66)

$ (1.90)

$ (0.66)

Weighted average common units outstanding (basic and diluted) (in dollars per share)

473,470

111,111

414,345

111,111

[1]	Net loss per Common Unit is only calculated for the period subsequent to the initial closing date as no Common Units were outstanding prior to June 16, 2014.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (786,860)	$ (73,824)
Change in assets and liabilities:
Prepaid expenses and other assets	55,495	(60,812)
Deferred affiliated costs	304,411	0
Accounts payable and accrued expenses	8,313	30,000
Due to affiliate	(4,463)	0
Management fee payable	88,310	0
Net cash used in operating activities	(334,794)	(104,636)
Cash flows from financing activities:
Proceeds from issuance of common units	4,372,413	2,000,000
Payment of offering costs	(1,991,183)	(1,370,166)
Distributions paid	(225,701)	0
Net cash provided by financing activities	2,155,529	629,834
Net change in cash	1,820,735	525,198
Cash and cash equivalents, beginning of period	2,643,155	209,469
Cash and cash equivalents, end of period	4,463,890	734,667
Supplemental information:
Interest Paid	947	473
Supplemental non-cash information:
Reclassification of deferred offering costs to additional paid-in capital	0	1,034,795
Distributions payable	50,183	0
Accounts payable and accrued expenses
Supplemental non-cash information:
Offering costs	237,972	251,768
Due to affiliate
Supplemental non-cash information:
Offering costs	$ 189,425	$ 307,569

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Assets, Current [Abstract]
Cash	$ 4,463,890	$ 2,643,155
Deferred affiliated costs	514,118	818,529
Prepaid expenses and other assets	56,833	112,328
Subscription Receivable	5,000	0
Total current assets	5,039,841	3,574,012
CURRENT LIABILITIES:
Due to affiliates	1,109,447	1,673,195
Accounts payable and accrued expenses	425,664	393,476
Management fee payable	112,170	23,860
Distributions payable	50,183	29,598
Total current liabilities	$ 1,697,464	$ 2,120,129
Commitments and contingencies (Note 6)
General Partner Interest	$ (103,501)	$ (103,501)
Limited Partners, 511,170 and 290,414 Common Units issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	3,445,878	1,557,384
Partners' equity	3,342,377	1,453,883
Total liabilities and partners' equity	$ 5,039,841	$ 3,574,012