XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ 218,065 $ (98,679)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation expense 3,196 3,196
Depletion expense 65 540
Deferred income tax expense (benefit) 157,184 (32,892)
Gain on sale of land (140,582) (149,992)
Share-based compensation 223,626 736,334
Changes in operating assets and liabilities:    
Decrease (increase) in current assets (32,934) (56,975)
Decrease in current liabilities (321,214) (149,112)
Net cash provided by operating activities 107,406 252,420
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of certificates of deposit (7,340,723) (1,508,042)
Maturity of certificates of deposit 3,073,537 1,004,603
Costs of reforesting timber 0 (20,737)
Proceeds from the sale of fixed assets 140,582 149,992
Net cash used in investing activities (4,126,604) (374,184)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchases of common stock (208,854) 0
Net cash used in financing activities (208,854) 0
NET CHANGE IN CASH AND CASH EQUIVALENTS (4,228,052) (121,764)
Cash and cash equivalents, beginning of the period 7,546,689 7,148,207
Cash and cash equivalents, end of the period 3,318,637 7,026,443
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 0 0
Cash paid for income taxes $ 208,999 $ 0