v3.25.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 1,712,368 $ 1,344,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 8,943 311,661
Stock-based compensation 205,639 229,799
Depreciation, depletion and amortization 2,452,694 1,969,742
Accretion of asset retirement obligations 29,983 29,869
Amortization of debt issuance costs 4,299 4,309
Changes in operating assets and liabilities:    
(increase) Decrease in accounts receivable (170,644) 362,920
(Increase) decrease in right-of-use asset (107,262) 56,366
(increase) Decrease in prepaid expenses (4,788) 309
Increase in accounts payable and accrued expenses 69,059 16,198
Increase (decrease) in operating lease liability 107,262 (56,366)
Increase in income tax payable 3,548 189,254
Settlement of asset retirement obligations (41,480) (25,078)
Net cash provided by operating activities 4,269,621 4,433,935
Cash flows from investing activities:    
Additions to oil and gas properties (3,416,616) (3,349,326)
Drilling refund 59,471 26,194
Investment in limited liability companies at cost (1,000,000) (400,000)
Proceeds from sale of oil and gas properties and equipment 202,570 306,633
Net cash used in investing activities (4,154,575) (3,416,499)
Cash flows from financing activities:    
Proceeds from exercise of stock options 77,641 19,662
Proceeds from long-term debt 650,000 275,000
Debt issuance costs (750)
Dividends paid (209,000) (213,600)
Acquisition of treasury stock (703,216) (585,035)
Reduction of long-term debt (650,000) (275,000)
Net cash used in financing activities (834,575) (779,723)
Net (decrease) increase in cash and cash equivalents (719,529) 237,713
Cash and cash equivalents at beginning of year 2,473,484 2,235,771
Cash and cash equivalents at end of year 1,753,955 2,473,484
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,852 925
Cash paid for income taxes 228,487
Accrued capital expenditures included in accounts payable 38,417 21,693
Non-cash investing and financing activities:    
Asset retirement obligations $ 5,231 $ 7,617