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Consolidated Statements of Operations - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014
Revenues |  |  |  |
Total revenues |  | $ 26,349,502 | $ 27,841,265 | $ 17,673,508
Operating costs |  |  |  |
Production costs |  | 9,062,179 | 9,335,244 | 1,193,573
Depreciation, depletion and amortization |  | 5,165,120 | 3,615,737 | 1,228,685
Accretion of discount on asset retirement obligations |  | 49,054 | 34,866 | 41,626
General and administrative expenses | [1] | 9,079,597 | 6,256,783 | 8,388,291
Restructuring charges |  | 1,257,433 | (5,431) | 1,293,186
Total operating costs |  | 24,684,315 | 19,257,568 | 12,145,361
Income from operations |  | 1,665,187 | 8,583,697 | 5,528,147
Other |  |  |  |
Gain on settled derivative instruments, net |  | 3,315,123 | 0 | 0
Gain (loss) on unsettled derivative instruments, net |  | 124,106 | (109,974) | 0
Delhi field litigation settlement |  | 28,096,500 | 0 | 0
Delhi field insurance recovery related to pre-reversion event |  | 1,074,957 | 0 | 0
Interest and other income |  | 26,211 | 35,991 | 30,256
Interest (expense) |  | (70,943) | (73,636) | (69,092)
Income before income tax provision |  | 34,231,141 | 8,436,078 | 5,489,311
Income tax provision |  | 9,570,779 | 3,444,221 | 1,891,998
Net income attributable to the Company |  | 24,660,362 | 4,991,857 | 3,597,313
Dividends on preferred stock |  | 674,302 | 674,302 | 674,302
Net income attributable to common shareholders |  | $ 23,986,060 | $ 4,317,555 | $ 2,923,011
Earnings per common share |  |  |  |
Basic (in dollars per share) |  | $ 0.73 | $ 0.13 | $ 0.09
Diluted (in dollars per share) |  | $ 0.73 | $ 0.13 | $ 0.09
Weighted average number of common shares outstanding |  |  |  |
Basic (in shares) |  | 32,810,375 | 32,817,456 | 30,895,832
Diluted (in shares) |  | 32,861,231 | 32,924,018 | 32,564,067
Crude Oil |  |  |  |
Revenues |  |  |  |
Total revenues |  | $ 26,130,762 | $ 27,761,291 | $ 17,460,392
Natural Gas Liquids |  |  |  |
Revenues |  |  |  |
Total revenues |  | 7,885 | 37,227 | 117,166
Natural Gas |  |  |  |
Revenues |  |  |  |
Total revenues |  | 2,895 | 26,601 | 95,950
Artificial Lift Technology |  |  |  |
Revenues |  |  |  |
Total revenues |  | 207,960 | 16,146 | 0
Operating costs |  |  |  |
Production costs |  | $ 70,932 | $ 20,369 | $ 0
[1] | General and administrative expenses for the years ended June 30, 2016, 2015 and 2014 included non-cash stock-based compensation expense of $1,750,209, $943,653, and $1,352,322, respectively. These years also included litigation expenses of $2,729,755, $1,015,105, and $300,564, respectively.

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