XML 18 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1

Note 3 - Company Operations

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note

3.

      Company Operations

The Company’s operations are classified into

three

principal operating segments that are all located in the United States: oil and gas, timber and surface. The Company’s reportable business segments are strategic business units that offer income from different products. They are managed separately due to the unique aspects of each area.

Following is a summary of segmented operations information for the

six

months ended

June 30, 2018

and

2017,

respectively:

		2018				2017
Revenues
Oil and Gas		$	286,255			$	333,362
Timber			355,008				8,966
Surface			99,465				253,448
Total			740,728				595,776
Cost and Expenses
Oil and Gas			29,943				33,049
Timber			35,378				6,107
Surface			14,506				24,848
Total			79,824				64,004
Income from Operations
Oil and Gas			256,312				300,313
Timber			319,630				2,859
Surface			84,962				228,600
Total			660,904				531,772
Other Income (Expense) before Income Taxes			328,161				(273,672	)
Income before Income Taxes			989,065				258,100
Identifiable Assets, net of accumulated depreciation and depletion
Oil and Gas			--				--
Timber			2,134,230				2,119,180
Surface			--				--
General Corporate Assets			13,286,517				12,604,557
Total			15,420,747				14,723,737
Capital Expenditures
Oil and Gas			--				--
Timber			29,763				11,040
Surface			--				--
General Corporate Assets			10,371				--
Total			40,134				11,040
Depreciation and Depletion
Oil and Gas			--				--
Timber			14,713				--
Surface			--				--
General Corporate Assets			467				467
Total		$	15,180			$	467

There are

no

intersegment sales reported in the accompanying income statements. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in the Company’s Form

10

-K for the year ended

December 31, 2017.

The Company evaluates performance based on income or loss from operations before income taxes excluding any nonrecurring gains and losses on securities held available-for-sale. Income before income tax represents net revenues less costs and expenses less other income and expenses of a general corporate nature. Identifiable assets by segment are those assets used solely in the Company's operations within that segment.

Revenue from customers representing

5%

or more of total revenue for the

six

months ended

June 30, 2018

and

2017,

respectively are:

Count			2018				2017
1			$	250,334			$	179,292
2				77,137				80,210
3				73,110				54,154
4				47,567				42,513
5				38,333				38,333

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration