CKX(US:CKX)2022-05-05 16:00Revenue Performance - Total revenues for the three months ended March 31, 2022, were $181,918, an increase of approximately 17.5% compared to the same period in 2021[64]. - Oil and gas revenues increased by 64.4% to $82,429 for the three months ended March 31, 2022, compared to $50,145 in 2021[65]. - Timber sales decreased by 59.4% to $21,743 for the three months ended March 31, 2022, down from $53,527 in 2021[65]. - Surface revenue increased by 51.8% to $77,746 for the three months ended March 31, 2022, compared to $51,204 in 2021[65]. Expenses and Financial Position - General and administrative expenses increased by $69,266 for the three months ended March 31, 2022, primarily due to higher audit and legal fees[73]. - The company had no outstanding debt as of March 31, 2022, with current assets totaling $8,001,801 and current liabilities of $263,308[76][77]. - Net cash used in operating activities was $48,127 for the three months ended March 31, 2022, compared to $150,975 in the same period in 2021[80]. Strategic Initiatives - The company is actively searching for additional real estate for purchase in Louisiana, focusing on timberland and agricultural land[60]. - The company has completed and recorded plats for three subdivisions, totaling approximately 575 acres and containing 39 lots, with 21 lots sold as of March 31, 2022[62]. - The company is evaluating strategic alternatives to increase shareholder value, including land acquisitions and business combinations[61].