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Note 6 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2012								2011
		Current				Non-Current				Current				Non-Current
Deferred tax assets		$	--			$	--			$	7,906			$	--
Deferred tax liabilities			--				(181,818	)			(5,153	)			(181,818	)
		$	--			$	(181,818	)		$	2,753			$	(181,818	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2012				2011
Income tax on income before extraordinary item:
Tax at statutory rates		$	900,944			$	468,082
Tax effect of the following:
Statutory depletion			(130,489	)			(78,438	)
Dividend exclusion			--				(3,171	)
State income tax			71,525				32,844
Other			40				(593	)
Income tax on income before extraordinary item		$	842,020			$	418,724
Income tax on extraordinary item:
Tax at statutory rates		$	233,762			$	--
Tax effect of the following:
State income tax			22,085			$	--
Other			153			$	--
Income tax on extraordinary item		$	256,000			$	--

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2012								2011
		Current				Non-Current				Current				Non-Current
Conversion of investment from tax cash basis to accrual basis for financial reporting		$	--				--			$	2,753				--
Unrealized net loss (gain) on marketable securities			--				--				--				--
Casualty loss			--				(121,239	)			--				(121,239	)
Deferred gain			--				(60,579	)			--				(60,579	)
		$	--				(181,818	)		$	2,753				(181,818	)

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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