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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 155,932 $ (99,478)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 55,678 34,303
Depreciation, depletion and amortization 906,361 853,801
Accretion of asset retirement obligations 28,548 27,235
PPP loan forgiveness (68,574)
Amortization of debt issuance costs 12,526 14,221
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (367,089) 64,903
Decrease in right-of-use asset 55,269 65,255
Decrease in prepaid expenses 2,292 3,547
Decrease in other assets 30,421
Increase (decrease) in accounts payable and accrued expenses 3,223 (44,829)
Decrease in operating lease liability (54,739) (64,682)
Settlement of asset retirement obligations (19,380) (19,737)
Net cash provided by operating activities 710,047 864,960
Cash flows from investing activities:    
Additions to oil and gas properties (1,592,023) (1,692,190)
Additions to other property and equipment (3,215) (3,951)
Drilling refund 136,236
Investment in limited liability company at cost (50,000) (150,000)
Proceeds from sale of oil and gas properties and equipment 121,378 104,576
Net cash used in investing activities (1,387,624) (1,741,565)
Cash flows from financing activities:    
Proceeds from exercise of stock options 247,435
Proceeds from long-term debt 935,000 1,285,000
Proceeds from PPP loan 68,574
Debt issuance costs (12,266)
Reduction of long-term debt (550,000) (490,000)
Net cash provided by financing activities 701,009 782,734
Net increase (decrease) in cash and cash equivalents 23,432 (93,871)
Cash and cash equivalents at beginning of period 34,381 128,252
Cash and cash equivalents at end of period 57,813 34,381
Supplemental disclosure of cash flow information:    
Cash paid for interest 39,269 23,276
Accrued capital expenditures included in accounts payable 4,523 15,437
Non-cash investing and financing activities:    
Asset retirement obligations 17,587 19,512
Operating lease - right of use asset and associated liabilities $ 9,360 $ 141,385