CKX Lands (CKX) 10-K27 Mar 242023 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Mar. 18, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	1-31905
Entity Registrant Name	CKX Lands, Inc.
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 13,977,109
Entity Common Stock, Shares Outstanding (in shares)		1,991,337
Auditor Firm ID	206
Auditor Name	MaloneBailey, LLP
Auditor Location	Houston, Texas
Entity Central Index Key	0000352955
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Accounts receivable	$ 104,741	$ 126,423
Prepaid expense and other assets	212,279	28,695
Total current assets	9,388,882	8,307,928
Property and equipment, net	9,095,403	9,079,612
Deferred tax asset	329,121	300,050
Total assets	18,813,406	17,687,590
Current liabilities:
Trade payables and accrued expenses	159,159	37,626
Income tax payable	151,404	0
Unearned revenue	184,785	229,550
Total current liabilities	495,348	267,176
Total liabilities	495,348	267,176
Stockholders' equity:
Common stock, 3,000,000 shares authorized, no par value, 2,014,283 and 1,991,337 shares issued and outstanding, respectively, as of December 31, 2023, and 1,988,701 and 1,974,427 shares issued and outstanding, respectively, as of December 31, 2022	59,335	59,335
Additional paid in capital	3,150,376	2,308,537
Treasury stock, 22,946 and 14,274 shares, at cost, respectively, as of December 31, 2023 and 2022	(263,748)	(176,592)
Retained earnings	15,372,095	15,229,134
Total stockholders' equity	18,318,058	17,420,414
Total liabilities and stockholders' equity	18,813,406	17,687,590
Cash and Cash Equivalents Excluding Certificates of Deposit [Member]
Current assets:
Cash and cash equivalents	7,546,689	7,148,207
Certificates of Deposit [Member]
Current assets:
Cash and cash equivalents	$ 1,525,173	$ 1,004,603

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Shares Authorized (in shares)	3,000,000	3,000,000
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares, Issued (in shares)	2,014,283	1,988,701
Common Stock, Shares, Outstanding, Ending Balance (in shares)	1,991,337	1,974,427
Treasury Stock, Common, Shares (in shares)	22,946	14,274

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total revenue	$ 1,485,605	$ 1,105,494
Costs, expenses and (gains):
General and administrative expense	1,450,308	2,875,718
Depreciation expense	4,261	5,039
Gain on sale of land	(149,992)
Total costs, expenses and (gains)	1,363,781	2,948,034
(Loss) income from operations	121,824	(1,842,540)
Interest income	160,303	35,340
Miscellaneous income	74	1,769
(Loss) income before income taxes	282,201	(1,805,431)
Federal and state income tax expense (benefit):
Current	110,169	0
Deferred	29,071	(487,713)
Total income taxes	139,240	(487,713)
Net (loss) income	$ 142,961	$ (1,317,718)
Net loss per share:	$ 0.07	$ (0.67)
Basic (in dollars per share)	$ 0.07	$ (0.67)
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic	1,974,473	1,958,865
Diluted (in shares)	2,011,024	1,958,865
Oil and Gas [Member]
Revenues:
Revenue	$ 380,654	$ 596,755
Costs, expenses and (gains):
Oil and gas costs	41,677	50,312
Timber [Member]
Revenues:
Revenue	154,147	219,974
Costs, expenses and (gains):
Oil and gas costs	12,601	28,664
Surface Leases, Unrelated Parties [Member]
Revenues:
Surface revenue	950,804	250,432
Surface Leases, Related Parties [Member]
Revenues:
Surface revenue	0	38,333
Surface Leases [Member]
Costs, expenses and (gains):
Oil and gas costs	$ 4,926	$ 7,273

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Dec. 31, 2021	1,942,495
Balances at Dec. 31, 2021	$ 59,335	$ 0	$ 0	$ 16,546,852	$ 16,606,187
Issuances under share-based compensation (in shares)	46,206				46,206
Issuances under share-based compensation	$ 0	0	0	0	$ 0
Share-based compensation	0	0	2,308,537	0	2,308,537
Repurchases of common stock	0	(176,592)	0	0	(176,592)
Net loss	$ 0	0	0	(1,317,718)	(1,317,718)
Balances (in shares) at Dec. 31, 2022	1,988,701
Balances at Dec. 31, 2022	$ 59,335	(176,592)	2,308,537	15,229,134	$ 17,420,414
Issuances under share-based compensation (in shares)	25,582				25,582
Issuances under share-based compensation		0	0	0	$ 0
Share-based compensation	$ 0	0	841,839	0	841,839
Repurchases of common stock	0	(87,156)	0	0
Net loss	$ 0	0	0	142,961	142,961
Balances (in shares) at Dec. 31, 2023	2,014,283
Balances at Dec. 31, 2023	$ 59,335	$ (263,748)	$ 3,150,376	$ 15,372,095	$ 18,318,058

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ 142,961	$ (1,317,718)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense	4,261	5,039
Depletion expense	685	883
Deferred income tax expense	(29,071)	(300,050)
Gain on sale of land	(149,992)	(18,972)
Unrealized gain on equity investment in mutual funds	0	(8,727)
Share-based compensation	841,839	2,308,537
Changes in operating assets and liabilities:
(Increase) decrease in current assets	(161,902)	(73,577)
Increase (decrease) in current liabilities	228,172	(181,724)
Net cash provided by operating activities	876,953	413,691
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	0	(12,271)
Costs of reforesting timber	(20,737)	(16,461)
Purchases of land	0	(564)
Proceeds from the sale of fixed assets	149,992	18,972
Net cash used in investing activities	(391,315)	(498,765)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchases of common stock	(87,156)	(176,592)
Net cash used in financing activities	(87,156)	(176,592)
NET CHANGE IN CASH AND CASH EQUIVALENTS	398,482	(261,666)
Cash and cash equivalents, beginning of the period	7,148,207	7,409,873
Cash and cash equivalents, end of the period	7,546,689	7,148,207
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Certificates of Deposit [Member]
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of certificates of deposit	(1,525,173)	(1,000,000)
Sale and maturity of investment	1,004,603	0
Mutual Fund [Member]
CASH FLOWS FROM INVESTING ACTIVITIES
Sale and maturity of investment	$ 0	$ 511,559

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 9B. OTHER INFORMATION None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 1 - Nature of Business and

Note 1 - Nature of Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Note 1: Nature of Business and Significant Accounting Policies Nature of Business The Company was incorporated in the State of Louisiana on June 27, 1930. The Company’s business is the ownership and management of land. The primary activities consist of leasing its properties for minerals (oil and gas), raising and harvesting timber, and surface use (agriculture, right of ways, hunting). Significant Accounting Policies Basis of Presentation and Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentration of Credit Risk 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. Cash Equivalents Cash equivalents are highly liquid debt instruments with original maturities of three months or less when purchased. Certificate of Deposits Certificates of deposit have maturities greater than three months when purchased, in amounts not greater than $250,000. All certificates of deposit are held until maturity and recorded at cost which approximates fair value. Certificates of deposit matured in February 2024. Certificates of deposit with a maturity of one year or less are classified as short-term. Certificates of deposit with a maturity of more than one year are classified as long-term. Accrued Accounts Receivable The Company’s accrued accounts receivable consist of incomes received after quarter-end for royalties produced prior to quarter-end. When there are royalties that have not been received at the time of the preparation of the financial statements for months in the prior quarter, the Company estimates the amount to be received based on the average of the most recent 12 month’s royalties that were received from that particular well. The Company does not maintain an allowance for doubtful accounts because other than the accrual for earned but not received royalties, it has no Property, Building and Equipment Property, building, and equipment is stated at cost. Major additions are capitalized. Maintenance and repairs are charged to income as incurred. Depreciation is computed on the straight-line and accelerated methods over the following estimated useful lives of the assets: Furniture and equipment (years) 5 - 7 Land improvements (years) 15 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 be recoverable. If events or circumstances arise that require a long-lived asset to be tested for potential impairment, the Company first compares undiscounted cash flows expected to be generated by the asset to its carrying value. If the carrying amount of the long-lived asset is not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying value exceeds the fair value. Fair value may be determined through various valuation techniques including quoted market prices, third-party independent appraisals and discounted cash flow models. During the year ended December 31, 2023, the Company performed a step zero impairment analysis on furniture and fixtures and land improvements and determined there were no qualitative factors that would indicate impairment. No Share-Based Compensation We maintain one active incentive compensation plan: the 2021 Stock Incentive Plan (the Plan). The Plan provides for the issuance of restricted stock units (RSUs) and performance-based restricted stock units (PSUs) to certain of our employees, non-employee directors and consultants. For awards that are subject to market conditions, we utilize a binomial-lattice model (i.e., Monte Carlo simulation model), to determine the fair value. The Monte Carlo simulation model utilizes multiple input variables to determine the share-based compensation expense. For grants with market conditions made during the twelve months ended December 31, 2022, we utilized an annualized volatility of 39.6%, a 0% dividend yield and an annual risk-free interest rate of 3.5% each determined over a period consistent with the performance period associated with the awards with market conditions. The volatility was based on the last two-year Share-based compensation expense related to RSUs are expensed over the grant date to the end of the requisite service period using the straight-line method. PSUs are expensed over the grant date to the end of the requisite service period using a model-driven derived service period based upon the median of the price projection scenarios for each performance trigger. The RSUs and PSUs do not have voting rights. We calculate the fair value of our share-based awards on the date of grant. Revenue Recognition The Company accounts for revenue under ASU 2014-09, Revenue from Contracts with Customers (ASC 606). In accordance with ASC 606, we recognize revenues when the following criteria are met: (i) persuasive evidence of a contract with a customer exists, (ii) identifiable performance obligations under the contract exist, (iii) the transaction price is determinable for each performance obligation, (iv) the transaction price is allocated to each performance obligation, and (v) the performance obligations are satisfied. We derive a majority of our revenues from oil and gas royalties, timber sales, and surface leases. Surface leases are not within the scope of ASC 606 and are accounted for under ASC 842. See Note 9 for more detailed information about the Company’s reportable segments. Oil and Gas Oil and gas revenue is generated through customer contracts, where we provide the customer access to a designated tract of land upon which the customer performs exploration, extraction, production and ultimate sale of the oil and gas. The Company receives royalties on all oil and gas produced by the customer. The performance obligation identified in oil and gas related contracts is the oil and gas produced on the designated tract of land. The performance obligation is satisfied at a point in time, which is when the customer produces oil and gas. The transaction price is comprised of fixed fees (royalties) on all oil and gas produced. The Company accrues monthly royalty revenues based upon estimates and adjusts to actual as the Company receives payments. Net accrued royalty income was $104,741 and $126,423 as of December 31, 2023 and 2022, respectively. There are no Timber Timber revenue is generated through customer contracts executed as a pay-as-cut arrangement, where the customer acquires the right to harvest specified timber on a designated tract for a set period of time at agreed-upon unit prices. The performance obligation identified in timber related contracts is the severing of a single tree. We satisfy our performance obligation when timber is severed, at which time revenue is recognized. The transaction price for timber sales is determined using contractual rates applied to harvest volumes. The Company may receive a deposit at the time of entering into a stumpage agreement and this deposit is recorded in unearned revenue until earned. The Company held stumpage agreement deposits of $0 as of December 31, 2023 and 2022. There are no capitalized contract costs associated with timber contracts. No revenue has been recognized on the stumpage agreements held by the Company that are still open. The amount deposited by the customer is recognized as revenue against the first timber harvested. If no timber is harvested by the end of the contract the deposit is retained and recognized as income at contract end. Surface Surface revenue is earned through annual leases for agricultural and hunting activities and the Company records revenues evenly over the term of these leases. Surface revenues from these sources are recurring on an annual basis. Surface revenue is also earned through right of way and related temporary work-space leases, both of which are not unusual in occurrence and are not recurring sources of revenue. Generally, a right of way lease relates to either a utility or pipeline right of way that is a permanent servitude or exists for fixed periods of time greater than thirty years. The Company retains ownership of the land and the servitude is limited to the use of the surface. Revenue is recorded at the time of the agreement’s execution date. For income tax purposes, these types of agreements are treated as sales of business assets. Other sources of surface revenue can be commercial activities leases and sales of surface minerals, such as dirt. Basic and Diluted Earnings per share Net earnings per share is provided in accordance with FASB ASC 260-10, "Earnings per Share". Basic earnings per share is computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income per share excludes all potential common shares if their effect is anti-dilutive. For the year ended December 31, 2023, dilutive shares attributable to 36,551 restricted stock units were included in the calculation of earnings per share. For the year ended December 31, 2022, potentially dilutive shares attributable to 310,794 restricted stock units and performance shares were excluded in the calculation of earnings per share as their effect is anti-dilutive due to the Company's net loss for such period. Dividends The Company does not currently pay dividends on a regular basis. In determining whether to declare a dividend, the Board of Directors takes into account the Company’s prior fiscal year’s cash flows from operations and the current economic conditions, among other information deemed relevant. Dividends paid per common stock are based on the weighted average number of common stock shares outstanding during the period. No Pursuant to a dividend reversion clause in the Company’s Articles of Incorporation, dividends not claimed within one year after the dividend becomes payable will expire and revert in full ownership to the Company and the Company’s obligation to pay such dividend will cease. Any dividend reversions are recorded in equity upon receipt. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. In accordance with generally accepted accounting principles, the Company has analyzed its filing positions in federal and state income tax returns for the tax returns that remain subject to examination. Generally, returns are subject to examination for three years after filing. The Company believes that all filing positions are highly certain and that all income tax filing positions and deductions would be sustained upon a taxing jurisdiction’s audit. Therefore, no reserve for uncertain tax positions is required. No Other Taxes Taxes, other than income taxes, which consisted of property, franchise and oil and gas production taxes were $138,245 and $140,840 , for the years ended December 31, 2023 and 2022, respectively. Leases The Company leases its lands to individuals and entities for various purposes. The Company accounts for these types of leases in accordance with ASC 842 , Leases, Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 - 13, “Financial Instruments - Credit Losses,” which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. This standard was effective for the Company as of January 1, 2023. There was no impact on our financial statements at adoption. There are various updates recently issued to the accounting literature and these are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Note 2 - Fair Value of Financia

Note 2 - Fair Value of Financial Instruments	12 Months Ended
Note 2 - Fair Value of Financial Instruments	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 2: Fair Value of Financial Instruments ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. 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 and Methods and/or Assumptions Cash and cash equivalents: Carrying value approximates fair value due to its readily convertible characteristic. Certificates of deposit: Carrying value adjusted to and presented at fair market value. The estimated fair values of the Company's financial instruments are as follows: December 31, 2023 December 31, 2022 Financial Assets: Level Carrying Value Fair Value Carrying Value Fair Value Cash and cash equivalents 2 $ 7,546,689 $ 7,546,689 $ 7,148,207 $ 7,148,207 Certificates of deposit 2 1,525,173 1,499,675 1,004,603 999,919 Total $ 9,071,862 $ 9,046,364 $ 8,152,810 $ 8,148,126

Note 3 - Property and Equipment

Note 3 - Property and Equipment	12 Months Ended
Note 3 - Property and Equipment	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 3: Property and Equipment Property and equipment consisted of the following: December 31, 2023 2022 Land $ 6,815,711 $ 6,815,711 Timber 2,250,616 2,230,564 Equipment 120,873 120,873 9,187,200 9,167,148 Accumulated depreciation (91,797 ) (87,536 ) Total $ 9,095,403 $ 9,079,612 Depreciation expense was $4,261 and $5,039 for the years ended December 31, 2023 and 2022, respectively. Depletion expense was $685 and $883 for the years ended December 31, 2023 and 2022, respectively.

Note 4 - Land Purchases and Sal

Note 4 - Land Purchases and Sales	12 Months Ended
Note 4 - Land Purchases and Sales	Dec. 31, 2023
Notes to Financial Statements
Real Estate Disclosure [Text Block]	Note 4: Land Purchases and Sales Land Purchases No land purchases were made during the year ended December 31, 2023. During the year ended December 31, 2022, the Company purchased the following lands: +/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 2nd 1.81 Jefferson Davis 16.67 % $ 564 0 % Land Sales During the year ended December 31, 2023, the Company sold the following lands: +/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 1st 80.00 Jefferson Davis 16.67 % $ 149,992 0 % During the year ended December 31, 2022, the Company sold the following lands: +/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 3rd 6.67 Calcasieu 16.67 % $ 5,667 0 % 4th 6.67 Allen 16.67 % $ 13,305 0 % For the years ended December 31, 2023 and 2022, gains on sales of land were $149,992 and $18,972, respectively.

Note 5 - Oil and Gas Leases

Note 5 - Oil and Gas Leases	12 Months Ended
Note 5 - Oil and Gas Leases	Dec. 31, 2023
Notes to Financial Statements
Lessor, Operating Leases [Text Block]	Note 5: Oil and Gas Leases Results of oil and gas leasing activities for the years ended December 31, 2023 and 2022 are as follows: 2023 2022 Gross revenues Royalty interests $ 380,654 $ 596,755 Lease fees - - 380,654 596,755 Production costs (41,677 ) (50,312 ) Results before income tax expense 338,977 546,443 Estimated income tax expense (86,917 ) (140,155 ) Results of operations from producing activities excluding corporate overhead $ 252,060 $ 406,288 Reserve information relating to estimated quantities of the Company's interest in proved reserves of natural gas and crude including condensate and natural gas liquids is not available. A schedule indicating such reserve quantities is, therefore, not presented. Such reserves are located entirely within the United States. All oil and gas royalties come from Company owned properties that were developed and produced by producers, unrelated to Company, under oil and gas mineral lease agreements. The Company’s royalty and working interests share of oil and gas, exclusive of plant products, produced from leased properties were: 2023 2022 Net gas produced (MCF) 8,976 14,891 Net oil produced (Bbl) 3,826 4,719

Note 6 - Segment Reporting

Note 6 - Segment Reporting	12 Months Ended
Note 6 - Segment Reporting	Dec. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 6: Segment Reporting The Company’s operations are classified into three The tables below present financial information for the Company’s three operating business segments: Years Ended December 31, 2023 2022 Identifiable Assets, net of accumulated depreciation Timber $ 2,250,616 $ 2,230,564 General corporate assets 16,562,790 15,457,026 Total $ 18,813,406 $ 17,687,590 Capital expenditures: Timber $ 20,737 $ 16,461 Surface - 564 General corporate assets - 12,271 Total segment costs and expenses $ 20,737 $ 29,296 Depreciation and depletion Oil and gas $ - $ - Timber 685 883 General corporate assets 4,261 5,039 Total $ 4,946 $ 5,922 Years Ended December 31, 2023 2022 Revenues: Oil and gas $ 380,654 $ 596,755 Timber sales 154,147 219,974 Surface revenue 950,804 288,765 Total segment revenues 1,485,605 1,105,494 Cost and expenses: Oil and gas costs $ 41,677 $ 50,312 Timber costs 12,601 28,664 Surface costs 4,926 7,273 Total segment costs and expenses 59,204 86,249 Net income (loss) from operations: Oil and gas $ 338,977 $ 546,443 Timber 141,546 191,310 Surface 945,878 281,492 Total segment net income from operations 1,426,401 1,019,245 Unallocated other expense before income taxes (1,144,200 ) (2,824,676 ) Income (loss) before income taxes $ 282,201 $ (1,805,431 ) There are no

Note 7 - Concentrations

Note 7 - Concentrations	12 Months Ended
Note 7 - Concentrations	Dec. 31, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 7: Concentrations Revenues from customers representing 5% or more of total revenue for the years ended December 31, 2023 and 2022, respectively were: Years Ended December 31, Count 2023 2022 1 $ 404,097 $ 158,336 2 175,020 109,000 3 141,519 92,720 4 78,575 86,853 5 75,999 85,360 6 - 68,290 7 - 67,532 8 - 63,302

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
Note 8 - Income Taxes	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 8: Income Taxes The Company files federal and state income tax returns on a calendar year basis. The net deferred tax asset in the accompanying balance sheets includes the following components at December 31, 2023 and 2022: 2023 2022 Deferred tax assets $ 329,121 $ 300,050 Deferred tax liabilities - $ 329,121 $ 300,050 Reconciliations between the United States federal statutory income tax provision, using the statutory rate of 26%, and the Company’s provision for income taxes at December 31, 2023 and 2022 are as follows: 2023 2022 Income tax on income before extraordinary item: Tax at statutory rates $ 72,357 $ (464,762 ) Tax effect of the following: Federal statutory depletion (9,516 ) (18,798 ) State statutory depletion (5,124 ) (4,153 ) Stock-based compensation 79,109 - Other 2,414 - Income tax on income $ 139,240 $ (487,713 ) Deferred tax assets and liabilities result from timing differences in the recognition of revenue and expenses for tax and financial statement purposes. The effect of these timing differences at December 31, 2023 and 2022 is as follows: 2023 2022 Net operating loss carryover $ - $ 6,487 Percentage depletion carryover - 22,951 Stock-based compensation 516,785 458,276 Casualty loss (77,714 ) (77,714 ) Deferred gain (109,950 ) (109,950 ) $ 329,121 $ 300,050 The Company files income tax returns for federal and state purposes. Generally, the Company’s tax returns remain open for three years for tax examination purposes. Tax positions are recognized when they are more likely than not to be sustained upon examination. The amount recognized is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. The Company is subject to periodic audits by the Internal Revenue Service and other state and local taxing authorities. These audits may challenge certain of the Company’s tax positions such as timing and amount of income and deductions and the allocation of taxable income to various tax jurisdictions. The Company evaluates its tax positions and establishes liabilities if significant in accordance with the applicable accounting guidance on uncertainty in income taxes. With few exceptions, the Company is no longer subject to U.S. Federal and state income tax examinations by the tax authorities for calendar years ending before December 31, 2020.

Note 9 - Related Party Transact

Note 9 - Related Party Transactions	12 Months Ended
Note 9 - Related Party Transactions	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9: Related Party Transactions The Company and Stream Wetlands Services, LLC (“Stream Wetlands”) were parties to an option to lease agreement dated April 17, 2017 (the “OTL”). The OTL provided Stream Wetlands an option to lease certain lands from the Company, subject to the negotiation and execution of a mutually acceptable lease form. On February 28, 2022, Stream Wetlands exercised the OTL and entered into a 25-year lease in exchange for a one-time payment by Stream Wetlands of $38,333. The terms of the lease provide for formulaic contingent payments to the Company based on the amount of revenue generated from activities on the subject property by a third party, with a guaranteed minimum payment of $500,000 in the event that revenue does not meet a minimum threshold. No minimum payment is due unless and until the third party engages in activity on the subject lands, and neither the Company nor Stream Wetlands is able to determine whether that will occur. William Gray Stream, the President and a director of the Company, is the president of Stream Wetlands. The Company’s President is also the President of Matilda Stream Management Inc. (“MSM”) and the Chief Financial Officer is the Chief Investment Officer of MSM. MSM provides administrative services to the Company for no compensation. Surface revenue-related party was $0 and $38,333 for the years ended December 31, 2023 and 2022, respectively. The latter amount was attributable to the OTL with Stream Wetlands described above.

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	12 Months Ended
Note 10 - Share-based Compensation	Dec. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 10: Share-Based Compensation During the year ended December 31, 2022, the Company granted to certain employees an aggregate of 76,755 restricted stock units that vest over a three The share-based compensation expense recognized is included in general and administrative expense in the statements of operations. The total fair value of the awards was $3,374,002 of which $ 223,626 The plan participants elected to have the Company withhold 8,672 shares of the 25,582 shares earned to cover the employee payroll tax withholdings for the vested shares earned during the twelve-month period ended December 31, 2023. The plan participants elected to have the Company withhold 14,274 shares of the 46,206 shares earned to cover the employee payroll tax withholdings for the vested shares earned during the twelve-month period ended December 31, 2022. These shares are reported as treasury stock on the balance sheet. The share-based compensation expense recognized by award type was $420,874 and $420,965 for restricted stock units and performance shares, respectively, for the year ended December 31, 2023. The share-based compensation expense recognized by award type was $230,506 and $2,078,031 for restricted stock units and performance shares, respectively, for the year ended December 31, 2022.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk 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.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents Cash equivalents are highly liquid debt instruments with original maturities of three months or less when purchased.
Investment, Policy [Policy Text Block]	Certificate of Deposits Certificates of deposit have maturities greater than three months when purchased, in amounts not greater than $250,000. All certificates of deposit are held until maturity and recorded at cost which approximates fair value. Certificates of deposit matured in February 2024. Certificates of deposit with a maturity of one year or less are classified as short-term. Certificates of deposit with a maturity of more than one year are classified as long-term.
Receivable [Policy Text Block]	Accrued Accounts Receivable The Company’s accrued accounts receivable consist of incomes received after quarter-end for royalties produced prior to quarter-end. When there are royalties that have not been received at the time of the preparation of the financial statements for months in the prior quarter, the Company estimates the amount to be received based on the average of the most recent 12 month’s royalties that were received from that particular well. The Company does not maintain an allowance for doubtful accounts because other than the accrual for earned but not received royalties, it has no
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Building and Equipment Property, building, and equipment is stated at cost. Major additions are capitalized. Maintenance and repairs are charged to income as incurred. Depreciation is computed on the straight-line and accelerated methods over the following estimated useful lives of the assets: Furniture and equipment (years) 5 - 7 Land improvements (years) 15
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 be recoverable. If events or circumstances arise that require a long-lived asset to be tested for potential impairment, the Company first compares undiscounted cash flows expected to be generated by the asset to its carrying value. If the carrying amount of the long-lived asset is not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying value exceeds the fair value. Fair value may be determined through various valuation techniques including quoted market prices, third-party independent appraisals and discounted cash flow models. During the year ended December 31, 2023, the Company performed a step zero impairment analysis on furniture and fixtures and land improvements and determined there were no qualitative factors that would indicate impairment. No
Share-Based Payment Arrangement [Policy Text Block]	Share-Based Compensation We maintain one active incentive compensation plan: the 2021 Stock Incentive Plan (the Plan). The Plan provides for the issuance of restricted stock units (RSUs) and performance-based restricted stock units (PSUs) to certain of our employees, non-employee directors and consultants. For awards that are subject to market conditions, we utilize a binomial-lattice model (i.e., Monte Carlo simulation model), to determine the fair value. The Monte Carlo simulation model utilizes multiple input variables to determine the share-based compensation expense. For grants with market conditions made during the twelve months ended December 31, 2022, we utilized an annualized volatility of 39.6%, a 0% dividend yield and an annual risk-free interest rate of 3.5% each determined over a period consistent with the performance period associated with the awards with market conditions. The volatility was based on the last two-year Share-based compensation expense related to RSUs are expensed over the grant date to the end of the requisite service period using the straight-line method. PSUs are expensed over the grant date to the end of the requisite service period using a model-driven derived service period based upon the median of the price projection scenarios for each performance trigger. The RSUs and PSUs do not have voting rights. We calculate the fair value of our share-based awards on the date of grant.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company accounts for revenue under ASU 2014-09, Revenue from Contracts with Customers (ASC 606). In accordance with ASC 606, we recognize revenues when the following criteria are met: (i) persuasive evidence of a contract with a customer exists, (ii) identifiable performance obligations under the contract exist, (iii) the transaction price is determinable for each performance obligation, (iv) the transaction price is allocated to each performance obligation, and (v) the performance obligations are satisfied. We derive a majority of our revenues from oil and gas royalties, timber sales, and surface leases. Surface leases are not within the scope of ASC 606 and are accounted for under ASC 842. See Note 9 for more detailed information about the Company’s reportable segments. Oil and Gas Oil and gas revenue is generated through customer contracts, where we provide the customer access to a designated tract of land upon which the customer performs exploration, extraction, production and ultimate sale of the oil and gas. The Company receives royalties on all oil and gas produced by the customer. The performance obligation identified in oil and gas related contracts is the oil and gas produced on the designated tract of land. The performance obligation is satisfied at a point in time, which is when the customer produces oil and gas. The transaction price is comprised of fixed fees (royalties) on all oil and gas produced. The Company accrues monthly royalty revenues based upon estimates and adjusts to actual as the Company receives payments. Net accrued royalty income was $104,741 and $126,423 as of December 31, 2023 and 2022, respectively. There are no Timber Timber revenue is generated through customer contracts executed as a pay-as-cut arrangement, where the customer acquires the right to harvest specified timber on a designated tract for a set period of time at agreed-upon unit prices. The performance obligation identified in timber related contracts is the severing of a single tree. We satisfy our performance obligation when timber is severed, at which time revenue is recognized. The transaction price for timber sales is determined using contractual rates applied to harvest volumes. The Company may receive a deposit at the time of entering into a stumpage agreement and this deposit is recorded in unearned revenue until earned. The Company held stumpage agreement deposits of $0 as of December 31, 2023 and 2022. There are no capitalized contract costs associated with timber contracts. No revenue has been recognized on the stumpage agreements held by the Company that are still open. The amount deposited by the customer is recognized as revenue against the first timber harvested. If no timber is harvested by the end of the contract the deposit is retained and recognized as income at contract end. Surface Surface revenue is earned through annual leases for agricultural and hunting activities and the Company records revenues evenly over the term of these leases. Surface revenues from these sources are recurring on an annual basis. Surface revenue is also earned through right of way and related temporary work-space leases, both of which are not unusual in occurrence and are not recurring sources of revenue. Generally, a right of way lease relates to either a utility or pipeline right of way that is a permanent servitude or exists for fixed periods of time greater than thirty years. The Company retains ownership of the land and the servitude is limited to the use of the surface. Revenue is recorded at the time of the agreement’s execution date. For income tax purposes, these types of agreements are treated as sales of business assets. Other sources of surface revenue can be commercial activities leases and sales of surface minerals, such as dirt.
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, "Earnings per Share". Basic earnings per share is computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income per share excludes all potential common shares if their effect is anti-dilutive. For the year ended December 31, 2023, dilutive shares attributable to 36,551 restricted stock units were included in the calculation of earnings per share. For the year ended December 31, 2022, potentially dilutive shares attributable to 310,794 restricted stock units and performance shares were excluded in the calculation of earnings per share as their effect is anti-dilutive due to the Company's net loss for such period.
Stockholders' Equity, Policy [Policy Text Block]	Dividends The Company does not currently pay dividends on a regular basis. In determining whether to declare a dividend, the Board of Directors takes into account the Company’s prior fiscal year’s cash flows from operations and the current economic conditions, among other information deemed relevant. Dividends paid per common stock are based on the weighted average number of common stock shares outstanding during the period. No Pursuant to a dividend reversion clause in the Company’s Articles of Incorporation, dividends not claimed within one year after the dividend becomes payable will expire and revert in full ownership to the Company and the Company’s obligation to pay such dividend will cease. Any dividend reversions are recorded in equity upon receipt.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. In accordance with generally accepted accounting principles, the Company has analyzed its filing positions in federal and state income tax returns for the tax returns that remain subject to examination. Generally, returns are subject to examination for three years after filing. The Company believes that all filing positions are highly certain and that all income tax filing positions and deductions would be sustained upon a taxing jurisdiction’s audit. Therefore, no reserve for uncertain tax positions is required. No Other Taxes Taxes, other than income taxes, which consisted of property, franchise and oil and gas production taxes were $138,245 and $140,840 , for the years ended December 31, 2023 and 2022, respectively.
Lessee, Leases [Policy Text Block]	Leases The Company leases its lands to individuals and entities for various purposes. The Company accounts for these types of leases in accordance with ASC 842 , Leases,
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 - 13, “Financial Instruments - Credit Losses,” which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. This standard was effective for the Company as of January 1, 2023. There was no impact on our financial statements at adoption. There are various updates recently issued to the accounting literature and these are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Note 1 - Nature of Business a_2

Note 1 - Nature of Business and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment, Useful Life [Table Text Block]	Furniture and equipment (years) 5 - 7 Land improvements (years) 15

Note 2 - Fair Value of Financ_2

Note 2 - Fair Value of Financial Instruments (Tables)	12 Months Ended
Note 2 - Fair Value of Financial Instruments (Tables)	Dec. 31, 2023
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2023 December 31, 2022 Financial Assets: Level Carrying Value Fair Value Carrying Value Fair Value Cash and cash equivalents 2 $ 7,546,689 $ 7,546,689 $ 7,148,207 $ 7,148,207 Certificates of deposit 2 1,525,173 1,499,675 1,004,603 999,919 Total $ 9,071,862 $ 9,046,364 $ 8,152,810 $ 8,148,126

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment (Tables)	12 Months Ended
Note 3 - Property and Equipment (Tables)	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2023 2022 Land $ 6,815,711 $ 6,815,711 Timber 2,250,616 2,230,564 Equipment 120,873 120,873 9,187,200 9,167,148 Accumulated depreciation (91,797 ) (87,536 ) Total $ 9,095,403 $ 9,079,612

Note 4 - Land Purchases and S_2

Note 4 - Land Purchases and Sales (Tables)	12 Months Ended
Note 4 - Land Purchases and Sales (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Land Property Purchase [Table Text Block]	+/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 2nd 1.81 Jefferson Davis 16.67 % $ 564 0 %
Schedule of Land Property Sales [Table Text Block]	+/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 1st 80.00 Jefferson Davis 16.67 % $ 149,992 0 % +/- Louisiana Mineral Quarter Acres Parish Ownership Land Rights % 3rd 6.67 Calcasieu 16.67 % $ 5,667 0 % 4th 6.67 Allen 16.67 % $ 13,305 0 %

Note 5 - Oil and Gas Leases (Ta

Note 5 - Oil and Gas Leases (Tables)	12 Months Ended
Note 5 - Oil and Gas Leases (Tables)	Dec. 31, 2023
Notes Tables
Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block]	2023 2022 Gross revenues Royalty interests $ 380,654 $ 596,755 Lease fees - - 380,654 596,755 Production costs (41,677 ) (50,312 ) Results before income tax expense 338,977 546,443 Estimated income tax expense (86,917 ) (140,155 ) Results of operations from producing activities excluding corporate overhead $ 252,060 $ 406,288
Oil and Gas, Average Sale Price and Production Cost [Table Text Block]	2023 2022 Net gas produced (MCF) 8,976 14,891 Net oil produced (Bbl) 3,826 4,719

Note 6 - Segment Reporting (Tab

Note 6 - Segment Reporting (Tables)	12 Months Ended
Note 6 - Segment Reporting (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Years Ended December 31, 2023 2022 Identifiable Assets, net of accumulated depreciation Timber $ 2,250,616 $ 2,230,564 General corporate assets 16,562,790 15,457,026 Total $ 18,813,406 $ 17,687,590 Capital expenditures: Timber $ 20,737 $ 16,461 Surface - 564 General corporate assets - 12,271 Total segment costs and expenses $ 20,737 $ 29,296 Depreciation and depletion Oil and gas $ - $ - Timber 685 883 General corporate assets 4,261 5,039 Total $ 4,946 $ 5,922 Years Ended December 31, 2023 2022 Revenues: Oil and gas $ 380,654 $ 596,755 Timber sales 154,147 219,974 Surface revenue 950,804 288,765 Total segment revenues 1,485,605 1,105,494 Cost and expenses: Oil and gas costs $ 41,677 $ 50,312 Timber costs 12,601 28,664 Surface costs 4,926 7,273 Total segment costs and expenses 59,204 86,249 Net income (loss) from operations: Oil and gas $ 338,977 $ 546,443 Timber 141,546 191,310 Surface 945,878 281,492 Total segment net income from operations 1,426,401 1,019,245 Unallocated other expense before income taxes (1,144,200 ) (2,824,676 ) Income (loss) before income taxes $ 282,201 $ (1,805,431 )

Note 7 - Concentrations (Tables

Note 7 - Concentrations (Tables)	12 Months Ended
Note 7 - Concentrations (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	Years Ended December 31, Count 2023 2022 1 $ 404,097 $ 158,336 2 175,020 109,000 3 141,519 92,720 4 78,575 86,853 5 75,999 85,360 6 - 68,290 7 - 67,532 8 - 63,302

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
Note 8 - Income Taxes (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2023 2022 Deferred tax assets $ 329,121 $ 300,050 Deferred tax liabilities - $ 329,121 $ 300,050
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2023 2022 Income tax on income before extraordinary item: Tax at statutory rates $ 72,357 $ (464,762 ) Tax effect of the following: Federal statutory depletion (9,516 ) (18,798 ) State statutory depletion (5,124 ) (4,153 ) Stock-based compensation 79,109 - Other 2,414 - Income tax on income $ 139,240 $ (487,713 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2023 2022 Net operating loss carryover $ - $ 6,487 Percentage depletion carryover - 22,951 Stock-based compensation 516,785 458,276 Casualty loss (77,714 ) (77,714 ) Deferred gain (109,950 ) (109,950 ) $ 329,121 $ 300,050

Note 1 - Nature of Business a_3

Note 1 - Nature of Business and Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 0
Impairment, Long-Lived Asset, Held-for-Use, Total	$ 0	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	39.60%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	3.50%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	2 years
Accrued Royalty Income	$ 104,741	126,423
Deposit Assets, Stumpage Agreements	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	36,551	310,794
Payments of Ordinary Dividends, Common Stock	$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	0
Taxes, Other	138,245	140,840
Oil and Gas [Member]
Capitalized Contract Cost, Net, Total	$ 0	$ 0

Note 1 - Nature of Business a_4

Note 1 - Nature of Business and Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details)	Dec. 31, 2023
Furniture and Equipment [Member] \| Minimum [Member]
Useful Life (Year)	5 years
Furniture and Equipment [Member] \| Maximum [Member]
Useful Life (Year)	7 years
Land and Land Improvements [Member]
Useful Life (Year)	15 years

Note 2 - Fair Value of Financ_3

Note 2 - Fair Value of Financial Instruments - Financial Instruments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Estimate of Fair Value Measurement [Member]
Total	$ 9,046,364	$ 8,148,126
Reported Value Measurement [Member]
Total	9,071,862	8,152,810
Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Cash and Cash Equivalents Excluding Certificates of Deposit [Member]
Cash and cash equivalents	7,546,689	7,148,207
Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member] \| Certificates of Deposit [Member]
Cash and cash equivalents	1,525,173	1,004,603
Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Cash and Cash Equivalents Excluding Certificates of Deposit [Member]
Cash and cash equivalents	7,546,689	7,148,207
Fair Value, Inputs, Level 2 [Member] \| Reported Value Measurement [Member] \| Certificates of Deposit [Member]
Cash and cash equivalents	$ 1,499,675	$ 999,919

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
Note 3 - Property and Equipment (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Depreciation, Total	$ 4,261	$ 5,039
Depletion, Total	$ 685	$ 883

Note 3 - Property and Equipme_4

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property and equipment, gross	$ 9,187,200	$ 9,167,148
Accumulated depreciation	(91,797)	(87,536)
Total	9,095,403	9,079,612
Land [Member]
Property and equipment, gross	6,815,711	6,815,711
Timber Properties [Member]
Property and equipment, gross	2,250,616	2,230,564
Equipment [Member]
Property and equipment, gross	$ 120,873	$ 120,873

Note 4 - Land Purchases and S_3

Note 4 - Land Purchases and Sales (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss) on Sale of Properties	$ 149,992	$ 18,972

Note 4 - Land Purchases and S_4

Note 4 - Land Purchases and Sales - Land Purchase (Details) - Land Located in Jefferson Davis Parish, Louisiana [Member]	3 Months Ended
	Mar. 31, 2023 a	Jun. 30, 2022 USD ($) a
Acres (Acre) \| a	80	1.81
Land purchase, ownership		16.67%
Land purchase \| $		$ 564
Mineral Rights, Percent	0%	0%

Note 4 - Land Purchases and S_5

Note 4 - Land Purchases and Sales - Land Sale (Details)	3 Months Ended
Note 4 - Land Purchases and Sales - Land Sale (Details)	Mar. 31, 2023 USD ($) a	Dec. 31, 2022 USD ($) a	Sep. 30, 2022 USD ($) a	Jun. 30, 2022 a
Land Located in Jefferson Davis Parish, Louisiana [Member]
Acres (Acre) \| a	80			1.81
Ownership	16.67%
Land sale \| $	$ 149,992
Mineral Rights, Percent	0%			0%
Land Located in Calcasieu, Louisiana [Member]
Acres (Acre) \| a			6.67
Ownership			16.67%
Land sale \| $			$ 5,667
Mineral Rights, Percent			0%
Allen Located in Calcasieu Louisiana [Member]
Acres (Acre) \| a		6.67
Ownership		16.67%
Land sale \| $		$ 13,305
Mineral Rights, Percent		0%

Note 5 - Oil and Gas Leases - O

Note 5 - Oil and Gas Leases - Oil and Gas Leasing Activities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gross revenues
Royalty interests	$ 380,654	$ 596,755
Lease fees	0	0
Results of Operations, Revenue from Oil and Gas Producing Activities	380,654	596,755
Production costs	(41,677)	(50,312)
Results before income tax expense	338,977	546,443
Estimated income tax expense	(86,917)	(140,155)
Results of operations from producing activities excluding corporate overhead	$ 252,060	$ 406,288

Note 5 - Oil and Gas Leases - C

Note 5 - Oil and Gas Leases - Company's Royalty and Working Interests Share (Details)	12 Months Ended
	Dec. 31, 2023 Boe Mcfe	Dec. 31, 2022 Boe Mcfe
Natural Gas and Natural Gas Liquids [Member]
Net oil or gas produced (Thousand Cubic Foot Equivalent) \| Mcfe	8,976	14,891
Crude Oil and Natural Gas Liquids (NGL) [Member]
Net oil or gas produced (Thousand Cubic Foot Equivalent) \| Boe	3,826	4,719

Note 6 - Segment Reporting (Det

Note 6 - Segment Reporting (Details Textual)	12 Months Ended
Note 6 - Segment Reporting (Details Textual)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of Operating Segments	3
Total segment revenues	$ 1,485,605	$ 1,105,494
Intersegment Eliminations [Member]
Total segment revenues	$ 0	$ 0

Note 6 - Segment Reporting - Se

Note 6 - Segment Reporting - Segmented Operations Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Timber	$ 18,813,406	$ 17,687,590
Total segment revenues	1,485,605	1,105,494
Costs and expenses	1,363,781	2,948,034
Net income from operations	121,824	(1,842,540)
Oil and Gas [Member]
Revenues	380,654	596,755
Timber [Member]
Revenues	154,147	219,974
Operating Segments [Member]
Timber	18,813,406	17,687,590
Total segment revenues	1,485,605	1,105,494
Timber	20,737	29,296
Costs and expenses	59,204	86,249
Oil and gas	4,946	5,922
Net income from operations	1,426,401	1,019,245
Unallocated other income (expense) before income taxes	(1,144,200)	(2,824,676)
Income (loss) before income taxes	282,201	(1,805,431)
Operating Segments [Member] \| Oil And Gas Segment [Member]
Costs and expenses	41,677	50,312
Oil and gas	0	0
Net income from operations	338,977	546,443
Operating Segments [Member] \| Oil And Gas Segment [Member] \| Oil and Gas [Member]
Revenues	380,654	596,755
Operating Segments [Member] \| Timber Segment [Member]
Timber	2,250,616	2,230,564
Timber	20,737	16,461
Costs and expenses	12,601	28,664
Oil and gas	685	883
Net income from operations	141,546	191,310
Operating Segments [Member] \| Timber Segment [Member] \| Timber [Member]
Revenues	154,147	219,974
Operating Segments [Member] \| Surface Segment [Member]
Timber	0	564
Costs and expenses	4,926	7,273
Net income from operations	945,878	281,492
Operating Segments [Member] \| Surface Segment [Member] \| Surface Leases [Member]
Surface revenue	950,804	288,765
Operating Segments [Member] \| Corporate Segment [Member]
Timber	16,562,790	15,457,026
Timber	0	12,271
Oil and gas	$ 4,261	$ 5,039

Note 7 - Concentrations - Custo

Note 7 - Concentrations - Customers Representing 5% or More of Total Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Major Customers 1 [Member]
Revenue by customer	$ 404,097	$ 158,336
Major Customers 2 [Member]
Revenue by customer	175,020	109,000
Major Customers 3 [Member]
Revenue by customer	141,519	92,720
Major Customers 4 [Member]
Revenue by customer	78,575	86,853
Major Customers 5 [Member]
Revenue by customer	75,999	85,360
Major Customers 6 [Member]
Revenue by customer	0	68,290
Major Customers 7 [Member]
Revenue by customer	0	67,532
Major Customers 8 [Member]
Revenue by customer	$ 0	$ 63,302

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	12 Months Ended
Note 8 - Income Taxes (Details Textual)	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	26%	26%

Note 8 - Income Taxes - Income

Note 8 - Income Taxes - Income Taxes - Components of Deferred Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets	$ 329,121	$ 300,050
Deferred tax liabilities	0
Net deferred tax assets	$ 329,121	$ 300,050

Note 8 - Income Taxes - Incom_2

Note 8 - Income Taxes - Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Tax at statutory rates	$ 72,357	$ (464,762)
Federal statutory depletion	(9,516)	(18,798)
State statutory depletion	(5,124)	(4,153)
Stock-based compensation	79,109	0
Other	2,414	0
Total income taxes	$ 139,240	$ (487,713)

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Income Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Net deferred tax assets	$ 329,121	$ 300,050
Casualty Loss [Member]
Net deferred tax liabilities	(77,714)	(77,714)
Deferred Gain [Member]
Net deferred tax liabilities	(109,950)	(109,950)
Net Operating Loss Carryover [Member]
Net deferred tax assets	0	6,487
Percentage Depletion Carryover [Member]
Net deferred tax assets	0	22,951
Stock-based Compensation [Member]
Net deferred tax assets	$ 516,785	$ 458,276

Note 9 - Related Party Transa_2

Note 9 - Related Party Transactions (Details Textual) - USD ($)			12 Months Ended
	Feb. 28, 2022	Apr. 17, 2017	Dec. 31, 2023	Dec. 31, 2022
Surface Leases, Related Parties [Member]
Surface revenue			$ 0	$ 38,333
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
Related Party Transaction, Guaranteed Minimum Payment		$ 500,000

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	71,788
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value	$ 3,374,002
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 223,626
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	8,672	14,274
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares)	25,582	46,206
Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	71,788
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)		76,755
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	40,204
Share-Based Payment Arrangement, Expense	$ 420,874	$ 230,506
Restricted Stock Units (RSUs) [Member] \| Share-Based Payment Arrangement, Employee, Unissued [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	25,582
Phantom Share Units (PSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)		280,245
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	31,584
Share-Based Payment Arrangement, Expense	$ 420,965	$ 2,078,031