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Note 6 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Year Ended December 31,
		2022				2021
Identifiable Assets, net of accumulated depreciation
Timber		$	2,230,564			$	2,214,985
General corporate assets			15,457,026				14,840,102
Total			17,687,590				17,055,087
Capital expenditures:
Timber		$	16,461			$	18,606
Surface			564				4,063
General corporate assets			12,271				-
Total segment costs and expenses		$	29,296			$	22,669
Depreciation and depletion
Oil and gas		$	-			$	-
Timber			883				563
General corporate assets			5,039				2,027
Total		$	5,922			$	2,590

		Years Ended December 31,
		2022				2021
Revenues:
Oil and gas		$	596,755			$	364,907
Timber sales			219,974				151,102
Surface revenue			288,765				228,536
Total segment revenues			1,105,494				744,545
Cost and expenses:
Oil and gas costs		$	50,312			$	41,685
Timber costs			28,664				11,684
Surface costs			7,273				-
Total segment costs and expenses			86,249				53,369
Net income from operations:
Oil and gas		$	546,443			$	323,222
Timber			191,310				139,418
Surface			281,492				228,536
Total segment net income from operations			1,019,245				691,176
Unallocated other income (expense) before income taxes			(2,824,676	)			392,143
Income (loss) before income taxes		$	(1,805,431	)		$	1,083,319

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

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