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v3.19.2

Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Cash flows from operating activities: |  |
Net loss | $ (12,946) | $ (321,489)
Adjustments to reconcile net loss to net cash provided by operating activities: |  |
Stock-based compensation | 22,656 | 20,753
Depreciation, depletion and amortization | 802,425 | 880,419
Accretion of asset retirement obligations | 27,775 | 31,460
Changes in operating assets and liabilities: |  |
Decrease (increase) in accounts receivable | 482,640 | (437,083)
Increase in prepaid expenses | (6,152) | (11,258)
Increase in current assets | (5,202) |
(Decrease) increase in accounts payable and accrued expenses | (284,219) | 303,831
Settlement of asset retirement obligations | (14,649) | (25,609)
Net cash provided by operating activities | 1,012,328 | 441,024
Cash flows from investing activities: |  |
Additions to oil and gas properties | (812,140) | (1,092,657)
Additions to other property and equipment | (5,559) |
Drilling refunds |  | 108,646
Proceeds from sale of oil and gas properties and equipment | 162,304 | 3,162,146
Net cash (used in) provided by investing activities | (655,395) | 2,178,135
Cash flows from financing activities: |  |
Reduction of long-term debt | (700,000) | (2,200,000)
Debt issuance costs | (39,532) |
Proceeds from exercise of stock options | 18,241 |
Net cash used in financing activities | (721,291) | (2,200,000)
Net (decrease) increase in cash and cash equivalents | (364,358) | 419,159
Cash and cash equivalents at beginning of period | 492,610 | 73,451
Cash and cash equivalents at end of period | 128,252 | 492,610
Supplemental disclosure of cash flow information: |  |
Cash paid for interest | 21,120 | 94,880
Non-cash investing and financing activities: |  |
Asset retirement obligations | $ 8,658 | $ 6,689

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