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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
PERPETUAL PREFERRED STOCK
COMMON STOCK, NO PAR VALUE:
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS):
ACCUMULATED EARNINGS (DEFICIT):
Total
Beginning Balance, Amount at Dec. 31, 2014 $ 9,958,217 $ 137,469,772 $ 38,801 $ (67,195,800) $ 80,270,990
Beginning Balance, Shares at Dec. 31, 2014 507,739 69,139,869      
Sales of stock, Amount $ 870,386 $ 1,363,160     2,233,546
Sales of stock, shares 46,857 1,347,458      
Restricted stock awards vested, Amount   $ 3,171,477     3,171,477
Restricted stock awards vested, Shares   1,676,113      
Buy back of shares from vested stock awards, Amount   $ (300,732)     (300,732)
Buy back shares from vested stock awards, Shares   328,823      
Stock appreciation rights issued, not vested   $ 155,269     155,269
Comprehensive income (loss) from commodity derivative instruments, net of income taxes     (38,801)   (38,801)
Series A perpetual preferred stock cash dividends       (1,047,191) (1,047,191)
Net loss       (14,839,840) (14,839,840)
Ending Balance, Amount at Dec. 31, 2015 $ 10,828,603 $ 141,858,946 0 (83,082,831) 69,604,718
Ending Balance, Shares at Dec. 31, 2015 554,596 71,834,617      
Restricted stock awards vested, Amount   $ 322,507     322,507
Restricted stock awards vested, Shares   76,744      
Stock appreciation rights issued, not vested   $ 105,469     105,469
Net loss       (3,673,086) (3,673,086)
Ending Balance, Amount at Mar. 31, 2016 $ 10,828,603 $ 142,286,922 $ 0 $ (86,755,917) $ 66,359,608
Ending Balance, Shares at Mar. 31, 2016 554,596 71,911,361