$CKX
CKX LANDS, INC.

2024 Q1 Form 10-K Financial Statement

#000143774924009560 Filed on March 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $141.9K $690.4K $1.486M
YoY Change -14.43% 143.86% 34.38%
Cost Of Revenue $14.35K $27.90K $59.20K
YoY Change 40.69% -22.99% -31.36%
Gross Profit $127.5K $662.5K $1.426M
YoY Change -18.04% 168.34% 39.95%
Gross Profit Margin 89.88% 95.96% 96.02%
Selling, General & Admin $563.0K $302.8K $1.450M
YoY Change -13.02% -82.14% -49.57%
% of Gross Profit 441.6% 45.7% 101.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.066K $1.210K $4.261K
YoY Change 0.09% -63.11% -15.44%
% of Gross Profit 0.84% 0.18% 0.3%
Operating Expenses $564.1K $303.8K $1.455M
YoY Change -12.99% -82.11% -49.51%
Operating Profit -$436.6K $358.7K $121.8K
YoY Change 27.36% -124.72% -106.61%
Interest Expense $50.22K $55.06K $160.3K
YoY Change 93.45% 178.36% 353.59%
% of Operating Profit 15.35% 131.58%
Other Income/Expense, Net $0.00 $70.00
YoY Change -100.0% -96.05%
Pretax Income -$386.4K $413.8K $282.2K
YoY Change 21.95% -129.15% -115.63%
Income Tax $14.94K $172.1K $139.2K
% Of Pretax Income 41.6% 49.34%
Net Earnings -$401.3K $241.6K $143.0K
YoY Change 68.88% -124.31% -110.85%
Net Earnings / Revenue -282.92% 35.0% 9.62%
Basic Earnings Per Share -$0.20 $0.07
Diluted Earnings Per Share -$0.20 $0.11 $0.07
COMMON SHARES
Basic Shares Outstanding 1.991M 1.974M 1.974M
Diluted Shares Outstanding 2.011M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.751M $9.072M $9.072M
YoY Change 6.65% 11.27% 11.27%
Cash & Equivalents $7.243M $7.547M
Short-Term Investments $1.507M $1.525M $1.525M
Other Short-Term Assets $136.3K $212.3K $212.3K
YoY Change 4.04% 639.65% 639.65%
Inventory
Prepaid Expenses
Receivables $95.09K $104.7K $104.7K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.982M $9.389M $9.389M
YoY Change 6.76% 13.01% 13.01%
LONG-TERM ASSETS
Property, Plant & Equipment $9.094M $9.095M $9.095M
YoY Change -0.02% 0.17% 0.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $314.2K $329.1K $329.1K
YoY Change -17.16% 9.69% 9.69%
Total Long-Term Assets $9.408M $9.425M $9.425M
YoY Change -0.7% 0.48% 0.48%
TOTAL ASSETS
Total Short-Term Assets $8.982M $9.389M $9.389M
Total Long-Term Assets $9.408M $9.425M $9.425M
Total Assets $18.39M $18.81M $18.81M
YoY Change 2.8% 6.37% 6.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.74K $159.2K $159.2K
YoY Change 106.01% 322.96% 322.96%
Accrued Expenses
YoY Change
Deferred Revenue $153.2K $184.8K
YoY Change 3.06% -19.5%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $368.4K $495.3K $495.4K
YoY Change 105.08% 85.4% 85.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $368.4K $495.3K $495.4K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $368.4K $495.3K $495.4K
YoY Change 105.07% 85.4% 85.4%
SHAREHOLDERS EQUITY
Retained Earnings $14.97M $15.37M
YoY Change -0.14% 0.94%
Common Stock $59.34K $59.34K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.02M $18.32M $18.32M
YoY Change
Total Liabilities & Shareholders Equity $18.39M $18.81M $18.81M
YoY Change 2.8% 6.37% 6.37%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$401.3K $241.6K $143.0K
YoY Change 68.88% -124.31% -110.85%
Depreciation, Depletion And Amortization $1.066K $1.210K $4.261K
YoY Change 0.09% -63.11% -15.44%
Cash From Operating Activities -$337.8K $624.5K $877.0K
YoY Change 273.75% 162.86% 111.98%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $20.74K
YoY Change -100.0% -29.22%
Acquisitions
YoY Change
Other Investing Activities $34.49K -$17.13K -$370.6K
YoY Change -77.01% -96.37% -137.06%
Cash From Investing Activities $34.49K -$17.14K -$391.3K
YoY Change -74.0% -96.37% -21.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $87.16K
YoY Change -50.65%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -87.16K -$87.16K
YoY Change -50.65%
NET CHANGE
Cash From Operating Activities -$337.8K 624.5K $877.0K
Cash From Investing Activities $34.49K -17.14K -$391.3K
Cash From Financing Activities -87.16K -$87.16K
Net Change In Cash -$303.4K 520.2K $398.5K
YoY Change -818.11% -321.6% -252.29%
FREE CASH FLOW
Cash From Operating Activities -$337.8K $624.5K $877.0K
Capital Expenditures $0.00 $0.00 $20.74K
Free Cash Flow -$337.8K $624.5K $856.2K
YoY Change 213.54% 162.86% 122.75%

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Concentration of Credit Risk</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company maintains its cash balances in nine financial institutions. At times, cash balances may be in excess of the Federal Deposit Insurance Corporation’s insured limit of $250,000. The Company has not experienced any losses in such accounts and management believes the Company is not exposed to any significant credit risk on its cash balances.</p>
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310794
CY2023 us-gaap Taxes Other
TaxesOther
138245 usd
CY2022 us-gaap Taxes Other
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CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
91797 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Property Plant And Equipment Net
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PropertyPlantAndEquipmentNet
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CY2023 us-gaap Depreciation
Depreciation
4261 usd
CY2022 us-gaap Depreciation
Depreciation
5039 usd
CY2023 us-gaap Depletion
Depletion
685 usd
CY2022 us-gaap Depletion
Depletion
883 usd
CY2023 us-gaap Gain Loss On Sale Of Properties
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149992 usd
CY2022 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
18972 usd
CY2023 ckx Results Of Operations Royalty Interests
ResultsOfOperationsRoyaltyInterests
380654 usd
CY2022 ckx Results Of Operations Royalty Interests
ResultsOfOperationsRoyaltyInterests
596755 usd
CY2023 ckx Lease Fees Revenue
LeaseFeesRevenue
0 usd
CY2022 ckx Lease Fees Revenue
LeaseFeesRevenue
0 usd
CY2023 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
ResultsOfOperationsRevenueFromOilAndGasProducingActivities
380654 usd
CY2022 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
ResultsOfOperationsRevenueFromOilAndGasProducingActivities
596755 usd
CY2023 us-gaap Results Of Operations Expense From Oil And Gas Producing Activities
ResultsOfOperationsExpenseFromOilAndGasProducingActivities
41677 usd
CY2022 us-gaap Results Of Operations Expense From Oil And Gas Producing Activities
ResultsOfOperationsExpenseFromOilAndGasProducingActivities
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CY2023 us-gaap Results Of Operations Income Before Income Taxes
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338977 usd
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ResultsOfOperationsIncomeTaxExpense
140155 usd
CY2023 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
252060 usd
CY2022 us-gaap Results Of Operations Oil And Gas Producing Activities Net Income Excluding Corporate Overhead And Interest Costs
ResultsOfOperationsOilAndGasProducingActivitiesNetIncomeExcludingCorporateOverheadAndInterestCosts
406288 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
329121 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
300050 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
329121 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
300050 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.26 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.26 pure
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
72357 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2023 ckx Income Tax Rate Reconciliation Nondeductible Expense Federal Statutory Depletion Amount
IncomeTaxRateReconciliationNondeductibleExpenseFederalStatutoryDepletionAmount
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CY2022 ckx Income Tax Rate Reconciliation Nondeductible Expense Federal Statutory Depletion Amount
IncomeTaxRateReconciliationNondeductibleExpenseFederalStatutoryDepletionAmount
-18798 usd
CY2023 ckx Income Tax Rate Reconciliation Nondeductible Expense State Statutory Depletion Amount
IncomeTaxRateReconciliationNondeductibleExpenseStateStatutoryDepletionAmount
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CY2022 ckx Income Tax Rate Reconciliation Nondeductible Expense State Statutory Depletion Amount
IncomeTaxRateReconciliationNondeductibleExpenseStateStatutoryDepletionAmount
-4153 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
79109 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
0 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2414 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
139240 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
329121 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
300050 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
71788
CY2023 ckx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodFairValue
3374002 usd
CY2023 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
8672
CY2023 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
25582
CY2022 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
14274
CY2022 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
46206

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