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v3.19.1

Consolidated Condensed Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018
Revenues |  |  |  |  |
Total revenues |  | $ 9,501,028 | $ 10,151,155 | $ 32,856,225 | $ 29,479,342
Operating costs |  |  |  |  |
Depreciation, depletion and amortization |  | 1,558,130 | 1,383,148 | 4,710,223 | 4,580,161
General and administrative expenses | [1] | 1,196,935 | 1,842,548 | 3,760,767 | 5,078,508
Total operating costs |  | 6,548,073 | 6,487,888 | 19,174,596 | 18,450,364
Income from operations |  | 2,952,955 | 3,663,267 | 13,681,629 | 11,028,978
Other |  |  |  |  |
Enduro transaction breakup fee |  | 0 | 0 | 1,100,000 | 0
Interest and other income |  | 65,831 | 21,345 | 172,260 | 52,036
Interest expense |  | (28,789) | (30,525) | (87,479) | (71,436)
Income before income taxes |  | 2,989,997 | 3,654,087 | 14,866,410 | 11,009,578
Income tax provision (benefit) |  | 591,122 | 585,733 | 2,767,169 | (4,076,156)
Net income available to common stockholders |  | $ 2,398,875 | $ 3,068,354 | $ 12,099,241 | $ 15,085,734
Earnings per common share |  |  |  |  |
Basic (in dollars per share) |  | $ 0.07 | $ 0.09 | $ 0.36 | $ 0.46
Diluted (in dollars per share) |  | $ 0.07 | $ 0.09 | $ 0.36 | $ 0.45
Weighted average number of common shares |  |  |  |  |
Basic (in shares) |  | 33,186,665 | 33,171,514 | 33,151,786 | 33,123,185
Diluted (in shares) |  | 33,196,197 | 33,191,312 | 33,163,661 | 33,155,870
Crude oil |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | $ 9,032,032 | $ 9,639,238 | $ 30,945,359 | $ 27,654,128
Natural gas liquids |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | 468,525 | 511,917 | 1,910,395 | 1,825,214
Natural gas |  |  |  |  |
Revenues |  |  |  |  |
Total revenues |  | 471 | 0 | 471 | 0
Production costs |  |  |  |  |
Operating costs |  |  |  |  |
Production costs |  | $ 3,793,008 | $ 3,262,192 | $ 10,703,606 | $ 8,791,695
[1] | General and administrative expenses for the three months ended March 31, 2019 and 2018 included non-cash stock-based compensation expenses of $208,665 and $352,420, respectively. For the nine months ended March 31, 2019 and 2018, non-cash stock-based compensation expenses were $678,149 and $1,324,230, respectively.

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