CKX(CKX) - 2024 Q1 - Quarterly Report

Revenue Performance - For the three months ended March 31, 2024, total revenues decreased to $141,849 from$165,762 in the same period of 2023, representing a decline of 14.4%[17] - Oil and gas revenues increased significantly to $82,500, up 67.7$49,195 in the prior year[17] - Timber sales rose to $2,275, reflecting a 19.7$1,901 in the previous year[17] - Surface revenue dropped to $57,074, a decrease of 50.2$114,666 in the same period last year[17] - The company reported a gain on the sale of land of $0 for the three months ended March 31, 2024, compared to$149,992 in the same period of 2023[21] Financial Position - Current assets totaled $8,982,131, while current liabilities were$368,394 as of March 31, 2024[22] - Management believes that cash and cash equivalents are adequate for projected operations and potential land acquisitions[23] Operational Management - The company has established relationships with various consultants and attorneys to manage its lands effectively[12] - CKX has small royalty interests in 20 different producing oil and gas fields, with interests ranging from 0.0045% to 7.62%[11] - The company closed the sale of two 40-acre parcels for proceeds of $149,992 during 2023[14]