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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net (loss) income $ (101,777) $ 23,375
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Stock-based compensation 24,375 14,552
Depreciation, depletion and amortization 648,729 617,864
Accretion of asset retirement obligations 20,298 16,870
Amortization of debt issuance costs 10,781
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (59,627) 476,505
Decrease in right-of-use asset 48,941
Decrease in prepaid expenses 36,340 26,236
Decrease (increase) in other assets 30,421 (4,729)
Decrease in accounts payable and accrued expenses (54,375) (347,945)
Settlement of asset retirement obligations (12,054) (2,227)
Decrease in operating lease liability (48,468)
Net cash provided by operating activities 543,584 820,501
Cash flows from investing activities:    
Additions to oil and gas properties (1,100,437) (632,033)
Additions to other property and equipment (2,237)
Investment - cost basis (100,000)
Proceeds from sale of oil and gas properties and equipment 79,133 111,226
Net cash used in investing activities (1,123,541) (520,807)
Cash flows from financing activities:    
Proceeds from exercise of stock options 18,241
Proceeds from long-term debt 705,000
Debt issuance costs (5,000)
Reduction of long-term debt (190,000) (700,000)
Net cash provided by (used in) financing activities 515,000 (686,759)
Net decrease in cash and cash equivalents (64,957) (387,065)
Cash and cash equivalents at beginning of period 128,252 492,610
Cash and cash equivalents at end of period 63,295 105,545
Supplemental disclosure of cash flow information:    
Cash paid for interest 14,047 21,120
Non-cash investing and financing activities:    
Asset retirement obligations 15,475 5,092
Operating lease - right of use asset and associated liabilities $ 141,385