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Consolidated Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income (loss) attributable to the Company $ (7,135,148) $ 2,792,820
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, and amortization 1,410,888 1,449,754
Proved property impairment 9,602,620 0
Stock-based compensation 300,351 332,013
Deferred income taxes (2,160,340) (29,083)
Net loss on derivative contracts 334,966 0
Payments made for derivative settlements (1,096,472) 0
Other 3,816 18,526
Changes in operating assets and liabilities:    
Receivables (57,175) 199,064
Prepaid expenses and other current assets 83,150 95,219
Net operating loss carryback (512,042) 0
Accounts payable and accrued expenses 250,421 (276,864)
State and federal income taxes payable 122,206 462,066
Net cash provided by operating activities 1,147,241 5,043,515
Cash flows from investing activities    
Capital expenditures for oil and natural gas properties (153,205) (522,413)
Net cash used in investing activities (153,205) (522,413)
Cash flows from financing activities    
Common stock dividends paid (823,846) (3,306,408)
Common share repurchases, including shares surrendered for tax withholding (7,348) (1,362,424)
Net cash used in financing activities (831,194) (4,668,832)
Net increase (decrease) in cash and cash equivalents 162,842 (147,730)
Cash and cash equivalents, beginning of period 19,662,528 31,552,533
Cash and cash equivalents, end of period 19,825,370 31,404,803
Supplemental disclosures of cash flow information:    
Income taxes paid 248,000 85,000
Income tax refunds received 130,499 0
Non-cash transactions:    
(Decrease) increase in accrued purchases of property and equipment (55,311) 102,981
Oil and natural gas property costs attributable to the recognition of asset retirement obligations $ 91,608 $ 0