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v3.19.3.a.u2

Consolidated Condensed Statements of Cash Flows - USD ($) | 6 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018
Cash flows from operating activities |  |
Net income | $ 4,557,738 | $ 9,700,366
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation, depletion and amortization | 2,910,803 | 3,152,093
Stock-based compensation | 568,203 | 469,484
Settlements of asset retirement obligations | (26,773) | 0
Deferred income tax expense (benefit) | 40,252 | 506,297
Other | 32,149 | 9,648
Changes in operating assets and liabilities: |  |
Receivables | (840,298) | 507,689
Prepaid expenses | (60,118) | (70,048)
Accrued liabilities and other | 875,929 | (144,638)
Income taxes payable | 116,173 | 13,364
Net cash provided by operating activities | 8,174,058 | 14,144,255
Cash flows from investing activities |  |
Acquisition of oil and natural gas properties | (9,337,716) | 0
Capital expenditures for oil and natural gas properties | (1,080,874) | (5,048,987)
Capital expenditures for other property and equipment | 0 | (2,066)
Net cash used in investing activities | (10,418,590) | (5,051,053)
Cash flows from financing activities |  |
Cash dividends to common stockholders | (6,621,194) | (6,634,896)
Common share repurchases, including shares surrendered for tax withholding | (1,750,839) | (138,638)
Net cash used in financing activities | (8,372,033) | (6,773,534)
Net change in cash, cash equivalents and restricted cash | (10,616,565) | 2,319,668
Cash, cash equivalents and restricted cash, beginning of period | 31,552,533 | 27,681,133
Cash and cash equivalents, end of period | 20,935,968 | 30,000,801
Supplemental disclosures of cash flow information: |  |
Income taxes paid | 1,100,000 | 1,862,919
Non-cash transactions: |  |
Change in accounts payable used to acquire oil and natural gas properties | 39,361 | (1,094,249)
Oil and natural gas property costs incurred through recognition of asset retirement obligations and revision of previous estimates | $ 871,076 | $ 31,268

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