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QUARTERLY DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2016
QUARTERLY DATA (UNAUDITED) |
QUARTERLY DATA (UNAUDITED) | NOTE I - QUARTERLY DATA (UNAUDITED) The table below reflects the Company’s selected quarterly information for the years ended December 31, 2016, 2015 and 2014. Amounts shown are in thousands except per share amounts.
|  | First |  | Second |  | Third |  | Fourth
Year ended December 31, 2016 |  | Quarter |  | Quarter |  | Quarter |  | Quarter
Revenue |  | $ | 219 |  |  | $ | 170 |  |  | $ | 190 |  |  | $ | 185 |
Operating (expense) |  |  | (396 | ) |  |  | (233 | ) |  |  | (295 | ) |  |  | (327 | )
Corporate general and administrative expense |  |  | (166 | ) |  |  | (101 | ) |  |  | (52 | ) |  |  | (33 | )
Gain on prepayment of debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 888 |
Gain on sale of land |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 50 |
Other income (expense) net |  |  | (10 | ) |  |  | (7 | ) |  |  | (13 | ) |  |  | (80 | )
Net income (loss) from continuing operations |  |  | (353 | ) |  |  | (171 | ) |  |  | (170 | ) |  |  | 738 |
Net income (loss) from discontinued operations |  |  | 57 |  |  |  | 38 |  |  |  | 6 |  |  |  | (97 | )
Income (loss) allocable to common shareholders |  | $ | (296 | ) |  | $ | (133 | ) |  | $ | (164 | ) |  |  | 641 |
Income (loss) per common share – basic |  | $ | (0.15 | ) |  | $ | (0.07 | ) |  | $ | (0.08 | ) |  | $ | 0.32 |
|  |  | First |  |  |  | Second |  |  |  | Third |  |  |  | Fourth |
Year ended December 31, 2015 |  |  | Quarter |  |  |  | Quarter |  |  |  | Quarter |  |  |  | Quarter |
Revenue |  | $ | 172 |  |  | $ | 259 |  |  | $ | 232 |  |  | $ | 157 |
Operating (expense) |  |  | (470 | ) |  |  | (440 | ) |  |  | (527 | ) |  |  | (363 | )
Corporate general and administrative expense |  |  | (154 | ) |  |  | (155 | ) |  |  | (176 | ) |  |  | (120 | )
Impairment of natural gas and oil properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,717 | )
Recovery of bad debt |  |  | 738 |  |  |  | 386 |  |  |  | 306 |  |  |  | — |
Other income (expense) net |  |  | (34 | ) |  |  | (24 | ) |  |  | (14 | ) |  |  | (10 | )
Net income (loss) from continuing operations |  |  | 252 |  |  |  | 26 |  |  |  | (179 | ) |  |  | (3,053 | )
Net income (loss) from discontinued operations |  |  | 62 |  |  |  | 84 |  |  |  | 104 |  |  |  | 82 |
Income (loss) allocable to common shareholders |  | $ | 314 |  |  | $ | 110 |  |  | $ | (75 | ) |  | $ | (2,971 | )
Income (loss) per common share – basic |  | $ | 0.16 |  |  | $ | 0.06 |  |  | $ | (0.04 | ) |  | $ | (1.53 | )
|  |  | First |  |  |  | Second |  |  |  | Third |  |  |  | Fourth |
Year ended December 31, 2014 |  |  | Quarter |  |  |  | Quarter |  |  |  | Quarter |  |  |  | Quarter |
Revenue |  | $ | 344 |  |  | $ | 485 |  |  | $ | 410 |  |  | $ | 250 |
Operating (expense) |  |  | (483 | ) |  |  | (425 | ) |  |  | (447 | ) |  |  | (502 | )
Corporate general and administrative expense |  |  | (192 | ) |  |  | (205 | ) |  |  | (208 | ) |  |  | (218 | )
Other income (expense) net |  |  | 202 |  |  |  | (54 | ) |  |  | (40 | ) |  |  | 3 |
Net income (loss) from continuing operations |  |  | (129 | ) |  |  | (199 | ) |  |  | (285 | ) |  |  | (463 | )
Net income (loss) from discontinued operations |  |  | 89 |  |  |  | 100 |  |  |  | 81 |  |  |  | 27 |
Income (loss) allocable to common shareholders |  | $ | (40 | ) |  | $ | (99 | ) |  | $ | (204 | ) |  | $ | (436 | )
Income (loss) per common share – basic |  | $ | (0.02 | ) |  | $ | (0.05 | ) |  | $ | (0.10 | ) |  | $ | (0.23 | )

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