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QUARTERLY RESULTS (UNAUDITED) (Tables)
 12 Months Ended
Jun. 30, 2017
Table Text Blocks  
QUARTERLY RESULTS (UNAUDITED)

Shown below are selected unaudited quarterly data for the years ended June 30, 2017 and 2016 (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

First Quarter

    

Second Quarter

    

Third Quarter

    

Fourth Quarter

2017:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

25

 

$

10

 

$

 7

 

$

 6

General, administrative and other operating

 

 

3,966

 

 

3,006

 

 

3,380

 

 

1,971

Full impairment of unproved oil and gas properties

 

 

—

 

 

2,028

 

 

—

 

 

11,288

Profit (Loss) from operations

 

 

(3,991)

 

 

(5,044)

 

 

(3,387)

 

 

(13,265)

Gain (loss) on legal settlement

 

 

5,135

 

 

(371)

 

 

—

 

 

—

Cost of legal settlement

 

 

—

 

 

(1,308)

 

 

—

 

 

—

Gain on derivative liability

 

 

—

 

 

—

 

 

—

 

 

705

Net Profit (Loss)

 

 

1,144

 

 

(6,723)

 

 

(3,387)

 

 

(12,560)

Non-cash preferred dividends

 

 

—

 

 

—

 

 

—

 

 

(1,511)

Net Profit (Loss) available to common stockholders

 

 

1,144

 

 

(6,723)

 

 

(3,387)

 

 

(14,071)

Basic and diluted loss per common share:

 

$

0.05

 

$

(0.31)

 

$

(0.16)

 

$

(0.64)

 

x`

 

 

 

 

 

 

 

 

 

 

 

 

 

    

First Quarter

    

Second Quarter

    

Third Quarter

    

Fourth Quarter

2016:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

28

 

$

28

 

$

27

 

$

26

General, administrative and other operating

 

 

1,877

 

 

1,829

 

 

3,266

 

 

1,434

Full impairment of unproved oil and gas properties

 

 

—

 

 

—

 

 

14,331

 

 

—

Loss from operations

 

 

(1,905)

 

 

(1,857)

 

 

(17,624)

 

 

(1,460)

Net loss

 

 

(1,905)

 

 

(1,857)

 

 

(17,624)

 

 

(1,460)

Basic and diluted loss per common share:

 

$

(0.09)

 

$

(0.09)

 

$

(0.84)

 

$

(0.07)