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v3.8.0.1

Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Cash flows from operating activities: |  |
Net loss | $ (321,489) | $ (694,553)
Adjustments to reconcile net loss to net cash provided by operating activities: |  |
Stock-based compensation | 20,753 | 52,864
Depreciation, depletion and amortization | 880,419 | 1,177,422
Accretion of asset retirement obligations | 31,460 | 35,743
Changes in operating assets and liabilities: |  |
Increase in accounts receivable | (437,083) | (117,133)
(Increase) decrease in prepaid expenses | (11,258) | 6,959
Increase in noncurrent assets |  | (25,219)
Increase (decrease) in accounts payable and accrued expenses | 303,831 | (124,002)
Settlement of asset retirement obligations | (25,609) | (104,369)
Net cash provided by operating activities | 441,024 | 207,712
Cash flows from investing activities: |  |
Additions to oil and gas properties | (1,092,657) | (802,311)
Drilling refunds | 108,646 | 82,922
Proceeds from sale of oil and gas properties and equipment | 3,162,146 | 3,231,115
Net cash provided by investing activities | 2,178,135 | 2,511,726
Cash flows from financing activities: |  |
Reduction of long-term debt | (2,200,000) | (2,680,000)
Net cash used in financing activities | (2,200,000) | (2,680,000)
Net increase in cash and cash equivalents | 419,159 | 39,438
Cash and cash equivalents at beginning of period | 73,451 | 34,013
Cash and cash equivalents at end of period | 492,610 | 73,451
Supplemental disclosure of cash flow information: |  |
Cash paid for interest | 94,880 | 156,142
Non-cash investing and financing activities: |  |
Asset retirement obligations | $ 6,689 | $ 8,753

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