Note 12 - Subsequent Events

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

Note

1

2

:    Subsequent Events

On

January 8, 2020

the Company entered into an agreement granting Driftwood Pipeline, LLC an option to purchase land in which CKX owns a

1/6th

interest. The Company received a

$50,000

deposit for its

1/6th

share when the option was signed. The option provides Driftwood

3

years to purchase the land for a total purchase price of

$1,200,000,

less deposits previously paid. If Driftwood exercises it option, CKX will receive an additional

$150,000

for its

1/6th

interest. If Driftwood does

not

exercise its option to purchase, CKX will retain the

$50,000

deposit.