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v3.21.2

Consolidated Statements of Operations - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2021 | Jun. 30, 2020
Revenues |  |  |
Total revenues |  | $ 32,702,354 | $ 29,599,296
Operating costs |  |  |
Depreciation, depletion, and amortization |  | 5,166,626 | 5,761,498
Impairment of proved property |  | 24,792,079 | 0
Impairment of Well Lift Inc. - related assets |  | 146,051 | 0
Net loss on derivative contracts |  | 614,645 | 1,383,204
General and administrative expenses | [1] | 6,754,532 | 5,259,659
Total operating costs |  | 54,060,985 | 25,909,863
Income (loss) from operations |  | (21,358,631) | 3,689,433
Other |  |  |
Interest and other income |  | 39,401 | 177,418
Interest expense |  | (102,965) | (110,775)
Income (loss) before income tax provision |  | (21,422,195) | 3,756,076
Income tax expense (benefit) |  | (4,984,261) | (2,180,996)
Net income (loss) attributable to common shareholders |  | $ (16,437,934) | $ 5,937,072
Earnings (loss) per common share |  |  |
Basic (in dollars per share) |  | $ (0.49) | $ 0.18
Diluted (in dollars per share) |  | $ (0.49) | $ 0.18
Weighted average number of common shares outstanding |  |  |
Basic (in shares) |  | 33,263,701 | 33,031,149
Diluted (in shares) |  | 33,263,701 | 33,033,091
Oil |  |  |
Revenues |  |  |
Total revenues |  | $ 26,411,132 | $ 28,578,879
Natural gas liquids |  |  |
Revenues |  |  |
Total revenues |  | 3,662,478 | 1,018,349
Natural gas |  |  |
Revenues |  |  |
Total revenues |  | 2,628,744 | 2,068
Lease operating costs |  |  |
Operating costs |  |  |
Lease operating costs |  | $ 16,587,052 | $ 13,505,502
[1] | General and administrative expenses for the years ended June 30, 2021 and 2020 included non-cash stock-based compensation expense of $1,257,684 and $1,285,663, respectively.

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