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v3.19.3

Consolidated Condensed Statements of Cash Flows - USD ($) | 3 Months Ended
--- | ---
Sep. 30, 2019 | Sep. 30, 2018
Cash flows from operating activities |  |
Net income | $ 2,792,820 | $ 5,795,801
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation, depletion and amortization | 1,449,754 | 1,548,460
Stock-based compensation | 332,013 | 215,373
Deferred income tax expense (benefit) | (29,083) | 275,380
Other | 18,526 | 4,824
Changes in operating assets and liabilities: |  |
Receivables | 199,064 | (392,981)
Prepaid expenses | 95,219 | (415,729)
Accrued liabilities and other | (276,864) | (428,148)
Income taxes payable | 462,066 | 1,053,032
Net cash provided by operating activities | 5,043,515 | 7,656,012
Cash flows from investing activities |  |
Capital expenditures for oil and natural gas properties | (522,413) | (3,089,006)
Net cash used in investing activities | (522,413) | (3,089,006)
Cash flows from financing activities |  |
Cash dividends to common stockholders | (3,306,408) | (3,315,785)
Common share repurchases, including shares surrendered for tax withholding | (1,362,424) | (89,992)
Net cash used in financing activities | (4,668,832) | (3,405,777)
Net change in cash, cash equivalents and restricted cash | (147,730) | 1,161,229
Cash, cash equivalents and restricted cash, beginning of period | 31,552,533 | 27,681,133
Cash and cash equivalents, end of period | 31,404,803 | 28,842,362
Supplemental disclosures of cash flow information: |  |
Income taxes paid | 85,000 | 462,395
Non-cash transactions: |  |
Change in accounts payable used to acquire oil and natural gas properties | 102,981 | (405,645)
Oil and natural gas property costs incurred through recognition of asset retirement obligations | $ 0 | $ 31,268

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