v3.26.1
Note 6 - Segment Reporting
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 6:

Segment Reporting

 

The Company’s operations are classified into three principal operating and reportable segments that are all located in the United States: oil and gas, surface and timber. The Company’s reportable business segments are strategic business units that offer income from different products. They are managed separately due to the unique aspects of each area.

 

The Company’s President and Treasurer is the chief operating decision maker (“CODM”) and manages and allocates resources between the Oil and Gas, Timber, and Surface segments. Consistent with this decision-making process, the CODM uses financial information disaggregated between the Oil and Gas, Timber, and Surface segment for purposes of evaluating performance, forecasting future period financial results, and allocating resources. The CODM evaluates segment business performance on a quarterly basis based on gross profit.

 

The tables below present financial information for the Company’s three operating and reportable business segments:

 

   

Years Ended December 31,

 
   

2025

    

2024

  

Identifiable Assets, net of accumulated depreciation

                

Oil & Gas

   $ -     $ -  

Surface

     -       -  

Timber

     528,599       2,250,525  

General corporate assets

     21,757,169       16,596,712  

Total

   $ 22,285,768     $ 18,847,237  
                 

Capital expenditures:

                

Oil & Gas

   $ -     $ -  

Timber

     -       -  

Surface

     -       -  

General corporate assets

     -       -  

Total segment costs and expenses

   $ -     $ -  
                 

Depreciation and depletion

                

Oil and gas

   $ -     $ -  

Timber

     126       91  

Surface

     -       -  

General corporate assets

     3,109       4,261  

Total

   $ 3,235     $ 4,352  

 

 

   

December 31, 2025

  
   

Oil and Gas

    

Timber

    

Surface

    

Consolidated

  

Revenues

   $ 415,469     $ 94,825     $ 328,249     $ 838,543  

Cost of Goods Sold

     43,303       12,795       8,600       64,698  

Gross Profit

     372,166       82,030       319,649       773,845  

 

   

December 31, 2024

  
   

Oil and Gas

    

Timber

    

Surface

    

Consolidated

  

Revenues

   $ 417,846     $ 22,225     $ 1,081,053     $ 1,521,124  

Cost of Goods Sold

     46,436       18,385       533       65,354  

Gross Profit

     371,410       3,840       1,080,520       1,455,770  

 

 

Reconciliation

  

2025

    

2024

  

Total Gross Profit

     773,845       1,455,770  

Less:

                

General & Administrative Expense

     687,441       1,420,153  

Depreciation Expense

     3,109       4,261  

Gain on Sale of Land

     (3,557,868 )     (85,636 )

Income from Operations

     3,641,163       116,992  
                 

Interest Income

     335,539       206,949  

Miscellaneous Income

     66       13,783  

Income before income taxes

     3,976,768       337,724  

 

There are no intersegment sales reported in the accompanying statements of operations. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on income or loss from operations before income taxes excluding nonrecurring gains and losses on equity investment. Income before income tax represents net revenues less costs and expenses less other income and expenses of a general corporate nature. Identifiable assets by segment are those assets used solely in the Company's operations within that segment.