XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 608,237 $ 735,047
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 119,661 149,862
Stock-based compensation 104,069 113,823
Depreciation, depletion and amortization 1,123,985 868,366
Accretion of asset retirement obligations 15,524 14,896
Amortization of debt issuance costs 2,149 2,159
Changes in operating assets and liabilities:    
Decrease in accounts receivable 88,478 571,889
(Increase) decrease in right-of-use asset (131,099) 27,920
Decrease in prepaid expenses 5,781 9,229
Increase (decrease) in accounts payable and accrued expenses 15,199 (27,933)
Settlement of asset retirement obligations (13,370) (6,975)
Decrease in income taxes payable (63,308)
Decrease (increase) in operating lease liability 131,099 (27,919)
Net cash provided by operating activities 2,006,405 2,430,364
Cash flows from investing activities:    
Additions to oil and gas properties (1,667,027) (1,650,812)
Investments in limited liability companies at cost (400,000) (200,000)
Proceeds from sale of oil and gas properties and equipment 70 306,513
Net cash used in investing activities (2,066,957) (1,544,299)
Cash flows from financing activities:    
Proceeds from exercise of stock options 77,641 2,962
Acquisition of treasury stock (703,216) (325,256)
Dividends paid (209,000) (213,600)
Debt issuance costs (750)
Net cash used in financing activities (834,575) (536,644)
Net (decrease) increase in cash and cash equivalents (895,127) 349,421
Cash and cash equivalents at beginning of period 2,473,484 2,235,771
Cash and cash equivalents at end of period 1,578,357 2,585,192
Supplemental disclosure of cash flow information:    
Cash paid for interest 9
Accrued capital expenditures included in accounts payable 203,000 32,969
Non-cash investing and financing activities:    
Asset retirement obligations $ 1,372 $ 2,495