Financial Performance - For the fiscal year 2024, the company reported a net income of 250,224,anincreasefrom142,961 in 2023, driven by a 35,519increaseintotalrevenueanda30,155 decrease in general and administrative expenses[102]. - Total revenues for 2024 were 1,521,124,reflectinga2.41,485,605 in 2023, with oil and gas revenues contributing 417,846,timbersalesat22,225, and surface revenues at 1,081,053[103].−Oilrevenuesincreasedby17.3354,821, while gas revenues surged by 108.1% to 66,672,withtotaloilandgasrevenuesaccountingfor27131,922, representing 1% of total revenues in 2024 compared to 10% in 2023, attributed to timber harvest timing[112]. - Surface revenues increased by 130,249,makingup7185,636 in 2024, down from 149,992in2023,indicatingadecreaseinlandsaleactivity[116].CashFlowandFinancialPosition−AsofDecember31,2024,theCompanyhadcurrentassetsof9,579,388 and current liabilities of 264,183[119].−Netcashprovidedbyoperatingactivitiesdecreasedby672,192 to 204,761fortheyearendedDecember31,2024,comparedto876,953 for 2023[123]. - Net cash used in investing activities increased significantly to 4,121,020fortheyearendedDecember31,2024,from391,315 in 2023[124]. - The Company had no outstanding debt as of December 31, 2024, and 2023[120]. - Cash and cash equivalents are deemed adequate for projected operations and potential land acquisitions[121]. - Net cash used in financing activities was 208,854fortheyearendedDecember31,2024,comparedto87,156 for 2023[125]. - The decrease in cash provided by operating activities was primarily due to a $459,337 decrease in current liabilities[123]. - The Company does not have any off-balance sheet arrangements or relationships with special purpose entities[127]. Accounting Policies - Significant accounting policies are discussed in Note 1 of the audited financial statements[126].
