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Consolidated Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016
Revenues |  |  |  |  |
Total revenues |  | $ 9,525,437 | $ 5,106,735 | $ 25,649,194 | $ 19,109,068
Operating costs |  |  |  |  |
Production costs |  | 2,811,258 | 2,192,217 | 7,448,320 | 7,030,537
Depreciation, depletion and amortization |  | 1,523,475 | 1,268,800 | 4,104,424 | 3,958,644
Accretion of discount on asset retirement obligations |  | 13,562 | 11,695 | 39,892 | 34,555
General and administrative expenses | [1] | 1,283,906 | 2,304,237 | 3,760,348 | 6,046,603
Restructuring charges | [2] | 0 | 0 | 0 | 1,257,433
Total operating costs |  | 5,632,201 | 5,787,882 | 15,352,984 | 18,398,704
Income (loss) from operations |  | 3,893,236 | (681,147) | 10,296,210 | 710,364
Other |  |  |  |  |
Gain on realized derivative instruments, net |  | 3,350 | 1,795,431 | 3,440 | 3,960,059
Gain (loss) on unrealized derivative instruments, net |  | 47,965 | (1,314,044) | 33,833 | 119,679
Delhi field insurance recovery related to pre-reversion event |  | 0 | 0 | 0 | 1,074,957
Interest and other income |  | 13,099 | 11,851 | 39,905 | 23,516
Interest expense |  | (20,317) | (14,036) | (61,373) | (51,162)
Income (loss) before income taxes |  | 3,937,333 | (201,945) | 10,312,015 | 5,837,413
Income tax provision (benefit) |  | 1,518,190 | (72,337) | 3,768,463 | 2,051,521
Net income (loss) attributable to the Company |  | 2,419,143 | (129,608) | 6,543,552 | 3,785,892
Dividends on preferred stock |  | 0 | 168,575 | 250,990 | 505,726
Deemed dividend on preferred shares called for redemption |  | 0 | 0 | 1,002,440 | 0
Net income (loss) available to common stockholders |  | $ 2,419,143 | $ (298,183) | $ 5,290,122 | $ 3,280,166
Earnings (loss) per common share |  |  |  |  |
Basic (in dollars per share) |  | $ 0.07 | $ (0.01) | $ 0.16 | $ 0.10
Diluted (in dollars per share) |  | $ 0.07 | $ (0.01) | $ 0.16 | $ 0.10
Weighted average number of common shares |  |  |  |  |
Basic (in shares) |  | 33,062,297 | 32,879,381 | 33,021,865 | 32,779,234
Diluted (in shares) |  | 33,115,699 | 32,879,381 | 33,064,708 | 32,834,765
Crude oil |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | $ 9,060,796 | $ 5,005,955 | $ 25,184,468 | $ 18,897,572
Natural gas liquids |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | 464,641 | 597 | 464,730 | 2,332
Natural gas |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | 0 | 183 | (4) | 1,204
Artificial lift technology services |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | 0 | 100,000 | 0 | 207,960
Operating costs |  |  |  |  |
Production costs |  | $ 0 | $ 10,933 | $ 0 | $ 70,932
[1] | General and administrative expenses for the three months ended March 31, 2017 and 2016 included non-cash stock-based compensation expense of $291,151 and $277,907, respectively. For the corresponding nine month periods, non-cash stock compensation expense was $878,023 and $708,746, respectively.
[2] | Restructuring charges include $569,228 of non-cash impairment charges and $59,339 of non-cash stock compensation expense for the nine months ended March 31, 2016.

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