XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenue $ 171,269 $ 259,031 $ 1,340,550 $ 795,173
Costs, expenses and (gains):        
General and administrative expense 167,051 246,268 1,233,209 1,147,562
Depreciation expense 1,065 1,065 3,196 3,196
Gain on sale of land 0   (140,582) (149,992)
Total costs, expenses and (gains) 188,199 255,218 1,147,958 1,032,067
Income (loss) from operations (16,930) 3,813 192,592 (236,894)
Interest income 54,097 43,755 155,196 105,248
Miscellaneous income 38 74 13,785 74
Income (loss) before income taxes 37,205 47,642 361,573 (131,572)
Federal and state income tax expense (benefit):        
Current (13,676) 0 (13,676) 0
Deferred (3,235) 11,910 157,184 (32,893)
Total income taxes (16,911) 11,910 143,508 (32,893)
Net income (loss) $ 54,116 $ 35,732 $ 218,065 $ (98,679)
Net income (loss) per share:        
Basic and diluted (in dollars per share) $ 0.03 $ 0.02 $ 0.11 $ (0.05)
Diluted (in dollars per share) $ 0.03 $ 0.02 $ 0.11 $ (0.05)
Weighted-average shares used in per share calculation:        
Basic (in shares) 2,027,032 1,974,427 2,015,177 1,974,427
Diluted (in shares) 2,063,583 2,285,223 2,051,728 1,974,427
Oil and Gas [Member]        
Revenues:        
Revenue $ 73,340 $ 47,924 $ 316,986 $ 198,480
Costs, expenses and (gains):        
Cost of goods and services sold 12,958 7,043 36,189 26,271
Timber [Member]        
Revenues:        
Revenue 18,883 118,365 21,158 131,048
Costs, expenses and (gains):        
Cost of goods and services sold 6,885 842 15,706 4,805
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 79,046 92,742 1,002,406 465,645
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 240 $ 0 $ 240 $ 225