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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Total revenue $ 211,306 $ 188,697 $ 366,182 $ 369,088
Costs, expenses and (gains):        
Cost of goods and services sold 0 258 0 258
General and administrative expense 148,316 193,087 251,399 336,209
Depreciation expense 503 234 1,010 467
Gain on sale of land (184,045) (220,800) (590,265) (253,907)
Total costs, expenses and (gains) (21,526) (15,395) (314,977) 109,041
Income from operations 232,832 204,092 681,159 260,047
Interest income 4,787 30,381 9,453 48,256
Income before income taxes 237,619 234,473 690,612 308,303
Federal and state income tax expense:        
Current 63,271 22,683 89,457 38,131
Total income taxes 63,271 22,683 89,457 38,131
Net income $ 174,348 $ 211,790 $ 601,155 $ 270,172
Earnings per share, basic and diluted (in dollars per share) $ 0.09 $ 0.11 $ 0.31 $ 0.14
Weighted average shares outstanding, basic and diluted (in shares) 1,942,495 1,942,495 1,942,495 1,942,495
Oil and Gas [Member]        
Revenues:        
Revenues from customers $ 99,202 $ 67,929 $ 149,347 $ 182,979
Costs, expenses and (gains):        
Cost of goods and services sold 9,445 11,072 17,666 22,809
Timber [Member]        
Revenues:        
Revenues from customers 49,414 3,747 102,941 11,635
Costs, expenses and (gains):        
Cost of goods and services sold 4,255 754 5,213 3,205
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 53,107 107,438 94,728 155,308
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases $ 9,583 $ 9,583 $ 19,166 $ 19,166