XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenue $ 259,031 $ 330,232 $ 795,173 $ 822,362
Costs, expenses and (gains):        
General and administrative expense 246,268 411,189 1,147,562 1,180,832
Depreciation expense 1,065 711 3,196 1,901
Gain on sale of land 0   (149,992) (5,667)
Total costs, expenses and (gains) 255,218 427,593 1,032,067 1,227,090
Income (loss) from operations 3,813 (97,361) (236,894) (404,728)
Interest income 43,755 9,107 105,248 15,563
Miscellaneous income 74 0 74 3,282
Income (Loss) income before income taxes 47,642 (88,254) (131,572) (385,883)
Federal and state income tax expense (benefit):        
Current 0 (36,551) 0 (62,229)
Deferred 11,910 0 (32,893) 0
Total income taxes 11,910 (36,551) (32,893) (62,229)
Net income (loss) $ 35,732 $ (51,703) $ (98,679) $ (323,654)
Net income (loss) per share:        
Basic (in dollars per share) $ 0.02 $ (0.03) $ (0.05) $ (0.17)
Diluted (in dollars per share) $ 0.02 $ (0.03) $ (0.05) $ (0.17)
us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract        
Basic (in shares) 1,974,427 1,972,714 1,974,427 1,954,012
Diluted (in shares) 2,285,223 1,972,714 1,974,427 1,954,012
Oil and Gas [Member]        
Revenues:        
Revenue $ 47,924 $ 188,233 $ 198,480 $ 412,375
Costs, expenses and (gains):        
Cost of goods and services sold 7,043 17,844 26,271 38,194
Timber [Member]        
Revenues:        
Revenue 118,365 87,904 131,048 198,283
Costs, expenses and (gains):        
Cost of goods and services sold 842 3,516 4,805 6,701
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 92,742 44,511 465,645 182,953
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases 0 9,584 0 28,751
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 0 $ 0 $ 225 $ 5,129