Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 05, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000352955 | |
Entity Registrant Name | CKX LANDS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-31905 | |
Entity Incorporation, State or Country Code | LA | |
Entity Tax Identification Number | 72-0144530 | |
Entity Address, Address Line One | 2417 Shell Beach Drive | |
Entity Address, City or Town | Lake Charles | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70601 | |
City Area Code | 337 | |
Local Phone Number | 493-2399 | |
Title of 12(b) Security | Common Stock with no par value | |
Trading Symbol | CKX | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,942,495 |
Balance Sheets (Current Period
Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 7,387,932 | $ 6,463,255 |
Equity investment in mutual funds | 502,794 | 502,595 |
Accounts receivable | 60,214 | 98,515 |
Prepaid expense and other assets | 51,978 | 8,711 |
Total current assets | 8,002,918 | 7,073,076 |
Property and equipment, net | 9,085,213 | 9,243,621 |
Total assets | 17,088,131 | 16,316,697 |
Current liabilities: | ||
Trade payables and accrued expenses | 112,080 | 110,786 |
Unearned revenue | 201,739 | 231,409 |
Income tax payable | 10,146 | |
Total current liabilities | 323,965 | 342,195 |
Deferred income tax payable | 187,664 | 187,664 |
Total liabilities | 511,629 | 529,859 |
Stockholders' equity: | ||
Common stock, 3,000,000 shares authorized, no par value, 1,942,495 shares issued and outstanding as of September 30, 2021 and December 31, 2020 | 59,335 | 59,335 |
Retained earnings | 16,517,167 | 15,727,503 |
Total stockholders' equity | 16,576,502 | 15,786,838 |
Total liabilities and stockholders' equity | $ 17,088,131 | $ 16,316,697 |
Balance Sheets (Current Perio_2
Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Common Stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common Stock, shares authorized (in shares) | 3,000,000 | 3,000,000 |
Common stock, shares issued (in shares) | 1,942,495 | 1,942,495 |
Common Stock, shares outstanding (in shares) | 1,942,495 | 1,942,495 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues: | ||||
Total revenue | $ 173,546 | $ 160,842 | $ 539,729 | $ 529,930 |
Costs, expenses and (gains): | ||||
General and administrative expense | 141,136 | 121,426 | 392,538 | 457,637 |
Depreciation expense | 507 | 1,326 | 1,517 | 1,793 |
Gain on sale of land | (261,316) | (41,331) | (851,582) | (295,238) |
Total costs, expenses and (gains) | (104,154) | 87,511 | (419,129) | 196,552 |
Income from operations | 277,700 | 73,331 | 958,858 | 333,378 |
Interest income | 3,622 | 6,914 | 13,075 | 55,170 |
Income before income taxes | 281,322 | 80,245 | 971,933 | 388,548 |
Federal and state income tax expense: | ||||
Current | 92,813 | 30,191 | 182,269 | 68,322 |
Total income taxes | 92,813 | 30,191 | 182,269 | 68,322 |
Net income | $ 188,509 | $ 50,054 | $ 789,664 | $ 320,226 |
Earnings per share, basic and diluted (in dollars per share) | $ 0.10 | $ 0.03 | $ 0.41 | $ 0.16 |
Weighted average shares outstanding, basic and diluted (in shares) | 1,942,495 | 1,942,495 | 1,942,495 | 1,942,495 |
Oil and Gas [Member] | ||||
Revenues: | ||||
Oil and gas | $ 108,208 | $ 50,811 | $ 257,555 | $ 233,789 |
Costs, expenses and (gains): | ||||
Cost of goods and services sold | 12,264 | 5,226 | 29,930 | 28,034 |
Timber [Member] | ||||
Revenues: | ||||
Oil and gas | 11,936 | 59,416 | 114,877 | 71,052 |
Costs, expenses and (gains): | ||||
Cost of goods and services sold | 3,255 | 666 | 8,468 | 3,870 |
Surface Leases, Unrelated Parties [Member] | ||||
Revenues: | ||||
Revenues, leases | 43,819 | 41,032 | 138,548 | 196,340 |
Surface Leases, Related Parties [Member] | ||||
Revenues: | ||||
Revenues, leases | $ 9,583 | 9,583 | $ 28,749 | 28,749 |
Surface Leases [Member] | ||||
Costs, expenses and (gains): | ||||
Cost of goods and services sold | $ 198 | $ 456 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Dec. 31, 2019 | 1,942,495 | ||
Balances at Dec. 31, 2019 | $ 59,335 | $ 15,388,120 | $ 15,447,455 |
Net income | $ 0 | 320,226 | 320,226 |
Balances (in shares) at Sep. 30, 2020 | 1,942,495 | ||
Balances at Sep. 30, 2020 | $ 59,335 | 15,708,346 | 15,767,681 |
Balances (in shares) at Jun. 30, 2020 | 1,942,495 | ||
Balances at Jun. 30, 2020 | $ 59,335 | 15,658,292 | 15,717,627 |
Net income | $ 0 | 50,054 | 50,054 |
Balances (in shares) at Sep. 30, 2020 | 1,942,495 | ||
Balances at Sep. 30, 2020 | $ 59,335 | 15,708,346 | 15,767,681 |
Balances (in shares) at Dec. 31, 2020 | 1,942,495 | ||
Balances at Dec. 31, 2020 | $ 59,335 | 15,727,503 | 15,786,838 |
Net income | $ 0 | 789,664 | 789,664 |
Balances (in shares) at Sep. 30, 2021 | 1,942,495 | ||
Balances at Sep. 30, 2021 | $ 59,335 | 16,517,167 | 16,576,502 |
Balances (in shares) at Jun. 30, 2021 | 1,942,495 | ||
Balances at Jun. 30, 2021 | $ 59,335 | 16,328,658 | 16,387,993 |
Net income | $ 0 | 188,509 | 188,509 |
Balances (in shares) at Sep. 30, 2021 | 1,942,495 | ||
Balances at Sep. 30, 2021 | $ 59,335 | $ 16,517,167 | $ 16,576,502 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 789,664 | $ 320,226 |
Depreciation expense | 1,517 | 1,793 |
Depletion expense | 534 | 683 |
Gain on sale of land | (851,582) | (295,238) |
Unrealized loss on equity investment in mutual funds | 1,503 | |
Changes in operating assets and liabilities: | ||
(Increase) decrease in current assets | 14,204 | 8,455 |
Increase (decrease) in current liabilities | (18,230) | 139,117 |
Net cash provided by (used in) operating activities | (63,893) | 176,539 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of certificates of deposit | (1,985,767) | |
Proceeds from maturity of certificates of deposit | 3,489,163 | |
Purchases of mutual funds | (199) | (3,708) |
Costs of reforesting timber | (17,650) | |
Purchases of land | (4,063) | |
Proceeds from the sale of fixed assets | 1,010,482 | 299,441 |
Net cash provided by investing activities | 988,570 | 1,799,129 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 924,677 | 1,975,668 |
Cash and cash equivalents, beginning of the period | 6,463,255 | 3,280,289 |
Cash and cash equivalents, end of the period | 7,387,932 | 5,255,957 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Cash paid for income taxes | 171,423 | 30,000 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES | ||
Sale of land accrued in accounts receivable | $ 19,170 | $ 0 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies and Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1: Significant Accounting Policies and Recent Accounting Pronouncements Significant Accounting Policies Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures have been omitted pursuant to such rules and regulations. In the opinion of management, the accompanying financial statements include normal recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. These financial statements should be read in conjunction with our audited financial statements and notes thereto for the fiscal year ended December 31, 2020 10 nine September 30, 2021 not The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and judgments that affect the reported amounts of assets, liabilities, expenses, and related disclosures. Actual results may Risks and Uncertainties In December 2019, 19” January 2020, February 28, 2020, 19 March 11, 2020, 19 not 2020 2021 19, 19 Concentration of Credit Risk The Company maintains its cash balances in seven $250,000. not not Impairment of Long-lived Assets Long-lived assets, such as land, timber and property, buildings, and equipment, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not first not may third nine September 30, 2021 2020. Basic and Diluted Earnings per share Net earnings per share is provided in accordance with FASB ASC 260 10, September 30, 2021, 2020 Dividends The Company does not nine September 30, 2021 2020. Pursuant to a dividend reversion clause in the Company’s Articles of Incorporation, dividends not one Recent Accounting Pronouncements There are various updates recently issued and these are not |
Note 2 - Fair Value of Financia
Note 2 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 2: Fair Value of Financial Instruments ASC 820 820” 820 three may Level 1: Level 2: not may third Level 3: The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it was practical to estimate that value: Class Methods and/or Assumptions Cash and cash equivalents: Carrying value approximates fair value due to its readily convertible characteristic. Equity Investment in mutual funds: Carrying value adjusted to and presented at fair market value. The estimated fair values of the Company's financial instruments are as follows: September 30, 2021 December 31, 2020 Financial Assets: Level Carrying Value Fair Value Carrying Value Fair Value Cash and cash equivalents 1 $ 7,387,932 $ 7,387,932 $ 6,463,255 $ 6,463,255 Equity investment in mutual funds 1 504,568 502,794 504,369 502,595 Total $ 7,892,500 $ 7,890,726 $ 6,967,624 $ 6,965,850 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3: Property and Equipment Property and equipment consisted of the following: September 30, December 31, 2021 2020 Land $ 6,844,541 $ 7,018,547 Timber 2,214,057 2,196,942 Equipment 108,602 108,602 9,167,200 9,324,091 Accumulated depreciation (81,987 ) (80,470 ) Total $ 9,085,213 $ 9,243,621 During the nine September 30, 2021 2020, Depreciation expense was $1,517 and $1,793 for the nine September 30, 2021 2020, Depletion expense was $534 and $683 for the nine September 30, 2021 2020, |
Note 4 - Segment Reporting
Note 4 - Segment Reporting | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 4: Segment Reporting The Company’s operations are classified into three The tables below present financial information for the Company’s three Nine Months Ended Year Ended September 30, December 31, 2021 2020 Identifiable Assets, net of accumulated depreciation Timber $ 2,214,057 $ 2,196,942 General corporate assets 14,874,074 14,119,755 Total 17,088,131 16,316,697 Capital expenditures: Timber 17,650 9,321 Surface 4,063 - General corporate assets - - Total segment costs and expenses $ 21,713 $ 9,321 Depreciation and depletion Oil and gas - - Timber 534 974 General corporate assets 1,517 2,303 Total $ 2,051 $ 3,277 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues: Oil and gas $ 108,208 $ 50,811 $ 257,555 $ 233,789 Timber sales 11,936 59,416 114,877 71,052 Surface revenue 53,402 50,615 167,297 225,089 Total segment revenues 173,546 160,842 539,729 529,930 Cost and expenses: Oil and gas costs 12,264 5,226 29,930 28,034 Timber costs 3,255 666 8,468 3,870 Surface costs - 198 - 456 Total segment costs and expenses 15,519 6,090 38,398 32,360 Net income from operations: Oil and gas 95,944 45,585 227,625 205,755 Timber 8,681 58,750 106,409 67,182 Surface 53,402 50,417 167,297 224,633 Total segment net income from operations 158,027 154,752 501,331 497,570 Unallocated other income (expense) before income taxes 123,295 (74,507 ) 470,602 (109,022 ) Income before income taxes $ 281,322 $ 80,245 $ 971,933 $ 388,548 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 in the Company’s Form 10 December 31, 2020. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 5: Income Taxes In accordance with generally accepted accounting principles, the Company has analyzed its filing positions in federal and state income tax returns that remain subject to examination, generally those filed in the last three no No none |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 6: Related Party Transactions The Company and Stream Wetlands Services, LLC (“Stream Wetlands”) are parties to an option to lease agreement dated April 17, 2017 ( February 28, 2021, 12 February 28, 2022 may one February 28, 2023 $38,333. The Company’s President and Treasurer is also the President of Matilda Stream Management, Inc. Matilda Stream Management provides administrative and accounting services to the Company for no The Company’s immediate past President and current Secretary and director is a partner in Stockwell, Sievert, Viccellio, Clements, LLP (“Stockwell”). Beginning in August 2018, nine September 30, 2020, August 31, 2020 August 31, 2020. Surface revenue-related party was $28,749 for each of the nine September 30, 2021 2020. |
Note 7 - Concentrations
Note 7 - Concentrations | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 7: Concentrations Revenue from the Company's five nine September 30, 2021 2020, Nine Months Ended September 30, Count 2021 2020 1 $ 61,350 $ 74,326 2 54,300 47,452 3 50,095 40,289 4 42,294 38,333 5 40,821 32,108 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures have been omitted pursuant to such rules and regulations. In the opinion of management, the accompanying financial statements include normal recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. These financial statements should be read in conjunction with our audited financial statements and notes thereto for the fiscal year ended December 31, 2020 10 nine September 30, 2021 not The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and judgments that affect the reported amounts of assets, liabilities, expenses, and related disclosures. Actual results may |
Risks and Uncertainties [Policy Text Block] | Risks and Uncertainties In December 2019, 19” January 2020, February 28, 2020, 19 March 11, 2020, 19 not 2020 2021 19, 19 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk The Company maintains its cash balances in seven $250,000. not not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-lived Assets Long-lived assets, such as land, timber and property, buildings, and equipment, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not first not may third nine September 30, 2021 2020. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Earnings per share Net earnings per share is provided in accordance with FASB ASC 260 10, September 30, 2021, 2020 |
Stockholders' Equity, Policy [Policy Text Block] | Dividends The Company does not nine September 30, 2021 2020. Pursuant to a dividend reversion clause in the Company’s Articles of Incorporation, dividends not one |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements There are various updates recently issued and these are not |
Note 2 - Fair Value of Financ_2
Note 2 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2021 December 31, 2020 Financial Assets: Level Carrying Value Fair Value Carrying Value Fair Value Cash and cash equivalents 1 $ 7,387,932 $ 7,387,932 $ 6,463,255 $ 6,463,255 Equity investment in mutual funds 1 504,568 502,794 504,369 502,595 Total $ 7,892,500 $ 7,890,726 $ 6,967,624 $ 6,965,850 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, 2021 2020 Land $ 6,844,541 $ 7,018,547 Timber 2,214,057 2,196,942 Equipment 108,602 108,602 9,167,200 9,324,091 Accumulated depreciation (81,987 ) (80,470 ) Total $ 9,085,213 $ 9,243,621 |
Note 4 - Segment Reporting (Tab
Note 4 - Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Nine Months Ended Year Ended September 30, December 31, 2021 2020 Identifiable Assets, net of accumulated depreciation Timber $ 2,214,057 $ 2,196,942 General corporate assets 14,874,074 14,119,755 Total 17,088,131 16,316,697 Capital expenditures: Timber 17,650 9,321 Surface 4,063 - General corporate assets - - Total segment costs and expenses $ 21,713 $ 9,321 Depreciation and depletion Oil and gas - - Timber 534 974 General corporate assets 1,517 2,303 Total $ 2,051 $ 3,277 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues: Oil and gas $ 108,208 $ 50,811 $ 257,555 $ 233,789 Timber sales 11,936 59,416 114,877 71,052 Surface revenue 53,402 50,615 167,297 225,089 Total segment revenues 173,546 160,842 539,729 529,930 Cost and expenses: Oil and gas costs 12,264 5,226 29,930 28,034 Timber costs 3,255 666 8,468 3,870 Surface costs - 198 - 456 Total segment costs and expenses 15,519 6,090 38,398 32,360 Net income from operations: Oil and gas 95,944 45,585 227,625 205,755 Timber 8,681 58,750 106,409 67,182 Surface 53,402 50,417 167,297 224,633 Total segment net income from operations 158,027 154,752 501,331 497,570 Unallocated other income (expense) before income taxes 123,295 (74,507 ) 470,602 (109,022 ) Income before income taxes $ 281,322 $ 80,245 $ 971,933 $ 388,548 |
Note 7 - Concentrations (Tables
Note 7 - Concentrations (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Nine Months Ended September 30, Count 2021 2020 1 $ 61,350 $ 74,326 2 54,300 47,452 3 50,095 40,289 4 42,294 38,333 5 40,821 32,108 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies and Recent Accounting Pronouncements (Details Textual) - USD ($) $ / shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Impairment, Long-Lived Asset, Held-for-Use, Total | $ 0 | $ 0 |
Earnings Per Share, Diluted, Total (in dollars per share) | $ 0 | $ 0 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0 | $ 0 |
Note 2 - Fair Value of Financ_3
Note 2 - Fair Value of Financial Instruments - Financial Instruments (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Reported Value Measurement [Member] | ||
Total | $ 7,892,500 | $ 6,967,624 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 7,387,932 | 6,463,255 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | ||
Investment | 504,568 | 504,369 |
Estimate of Fair Value Measurement [Member] | ||
Total | 7,890,726 | 6,965,850 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 7,387,932 | 6,463,255 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | ||
Investment | $ 502,794 | $ 502,595 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Gain (Loss) on Disposition of Oil and Gas and Timber Property, Total | $ 261,316 | $ 41,331 | $ 851,582 | $ 295,238 |
Depreciation, Total | $ 507 | $ 1,326 | 1,517 | 1,793 |
Depletion, Total | 534 | 683 | ||
Land [Member] | ||||
Gain (Loss) on Disposition of Oil and Gas and Timber Property, Total | $ 851,582 | $ 295,238 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 9,167,200 | $ 9,324,091 |
Accumulated depreciation | (81,987) | (80,470) |
Total | 9,085,213 | 9,243,621 |
Land [Member] | ||
Property and equipment, gross | 6,844,541 | 7,018,547 |
Timber Properties [Member] | ||
Property and equipment, gross | 2,214,057 | 2,196,942 |
Equipment [Member] | ||
Property and equipment, gross | $ 108,602 | $ 108,602 |
Note 4 - Segment Reporting (Det
Note 4 - Segment Reporting (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Number of Operating Segments | 3 | |||
Revenues, Total | $ 173,546 | $ 160,842 | $ 539,729 | $ 529,930 |
Intersegment Eliminations [Member] | ||||
Revenues, Total | $ 0 | $ 0 |
Note 4 - Segment Reporting - Se
Note 4 - Segment Reporting - Segmented Operations Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Total assets | $ 17,088,131 | $ 17,088,131 | $ 16,316,697 | ||
Capital Expenditures | 21,713 | 9,321 | |||
Revenues, Total | 173,546 | $ 160,842 | 539,729 | $ 529,930 | |
Cost and expenses | (104,154) | 87,511 | (419,129) | 196,552 | |
Income from operations | 277,700 | 73,331 | 958,858 | 333,378 | |
Oil and Gas [Member] | |||||
Oil and gas | 108,208 | 50,811 | 257,555 | 233,789 | |
Timber [Member] | |||||
Oil and gas | 11,936 | 59,416 | 114,877 | 71,052 | |
Operating Segments [Member] | |||||
Total assets | 17,088,131 | 17,088,131 | 16,316,697 | ||
Depreciation and Depletion | 2,051 | 3,277 | |||
Revenues, Total | 173,546 | 160,842 | 539,729 | 529,930 | |
Cost and expenses | 15,519 | 6,090 | 38,398 | 32,360 | |
Income from operations | 158,027 | 154,752 | 501,331 | 497,570 | |
Unallocated other income (expense) before income taxes | 123,295 | (74,507) | 470,602 | (109,022) | |
Income before income taxes | 281,322 | 80,245 | 971,933 | 388,548 | |
Timber Segment [Member] | Operating Segments [Member] | |||||
Total assets | 2,214,057 | 2,214,057 | 2,196,942 | ||
Capital Expenditures | 17,650 | 9,321 | |||
Depreciation and Depletion | 534 | 974 | |||
Cost and expenses | 3,255 | 666 | 8,468 | 3,870 | |
Income from operations | 8,681 | 58,750 | 106,409 | 67,182 | |
Timber Segment [Member] | Operating Segments [Member] | Timber [Member] | |||||
Oil and gas | 11,936 | 59,416 | 114,877 | 71,052 | |
Oil And Gas Segment [Member] | Operating Segments [Member] | |||||
Depreciation and Depletion | 0 | 0 | |||
Cost and expenses | 12,264 | 5,226 | 29,930 | 28,034 | |
Income from operations | 95,944 | 45,585 | 227,625 | 205,755 | |
Oil And Gas Segment [Member] | Operating Segments [Member] | Oil and Gas [Member] | |||||
Oil and gas | 108,208 | 50,811 | 257,555 | 233,789 | |
Corporate Segment [Member] | Operating Segments [Member] | |||||
Total assets | 14,874,074 | 14,874,074 | 14,119,755 | ||
Capital Expenditures | 0 | 0 | |||
Depreciation and Depletion | 1,517 | 2,303 | |||
Surface Segment [Member] | Operating Segments [Member] | |||||
Capital Expenditures | 4,063 | $ 0 | |||
Cost and expenses | 198 | 456 | |||
Income from operations | 53,402 | 50,417 | 167,297 | 224,633 | |
Surface Segment [Member] | Operating Segments [Member] | Surface Leases [Member] | |||||
Operating Lease, Lease Income, Total | $ 53,402 | $ 50,615 | $ 167,297 | $ 225,089 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) - USD ($) | Feb. 28, 2021 | Aug. 31, 2018 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Surface Leases, Related Parties [Member] | ||||||
Operating Lease, Lease Income, Total | $ 9,583 | $ 9,583 | $ 28,749 | $ 28,749 | ||
Stream Wetlands Services [Member] | Exclusive Right to Evaluate and Market Lands For Beneficial Purposes to Compensate for Impact [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 38,333 | |||||
Stockwell [Member] | Rent Expenses for Office Space and Associated Services [Member] | ||||||
Operating Lease Monthly Rent | $ 750 | |||||
Stockwell [Member] | Administrative Assistant and Miscellaneous Offices Supplies, Monthly Expense [Member] | ||||||
Operating Lease Monthly Rent | $ 2,000 | |||||
Related Party Transaction, Expenses from Transactions with Related Party | 22,407 | |||||
Related Party Rent Expense | $ 6,000 |
Note 7 - Concentrations - Custo
Note 7 - Concentrations - Customers Representing 5% or More of Total Revenue (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Major Customers 1 [Member] | ||
Revenue by customer | $ 61,350 | $ 74,326 |
Major Customers 2 [Member] | ||
Revenue by customer | 54,300 | 47,452 |
Major Customers 3 [Member] | ||
Revenue by customer | 50,095 | 40,289 |
Major Customers 4 [Member] | ||
Revenue by customer | 42,294 | 38,333 |
Major Customers 5 [Member] | ||
Revenue by customer | $ 40,821 | $ 32,108 |