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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net income $ 1,077,370 $ 1,080,657
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax (benefit) expense (155,686) 319,848
Stock-based compensation 155,699 172,670
Depreciation, depletion and amortization 1,760,409 1,268,703
Accretion of asset retirement obligations 23,229 22,121
Amortization of debt issuance costs 3,224 3,235
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (75,618) 454,133
(Increase) decrease in right-of-use asset (119,314) 42,076
Decrease in prepaid expenses 30,143 36,023
Increase in accounts payable and accrued expenses 15,651 32,042
Settlement of asset retirement obligations (16,088) (14,715)
Increase in income taxes payable 122,782
Decrease (increase) in operating lease liability 119,314 (42,076)
Net cash provided by operating activities 2,941,115 3,374,717
Cash flows from investing activities:    
Additions to oil and gas properties (3,072,589) (1,471,543)
Investment in limited liability companies at cost (800,000) (200,000)
Proceeds from sale of oil and gas properties and equipment 202,570 306,513
Net cash used in investing activities (3,670,019) (1,365,030)
Cash flows from financing activities:    
Proceeds from exercise of stock options 77,641 2,962
Debt issuance costs (750)
Proceeds from long-term debt 650,000
Reduction of long-term debt (650,000)
Dividends paid (209,000) (213,600)
Acquisition of treasury stock (703,216) (455,132)
Net cash used in financing activities (834,575) (666,520)
Net (decrease) increase in cash and cash equivalents (1,563,479) 1,343,167
Cash and cash equivalents at beginning of period 2,473,484 2,235,771
Cash and cash equivalents at end of period 910,005 3,578,938
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,802
Cash paid for income taxes 200,683
Accrued capital expenditures included in accounts payable 4,991 15,667
Non-cash investing and financing activities:    
Asset retirement obligations $ 3,631 $ 2,838