MEXCO ENERGY CORP
For the period ended Mar 31, 2024. Filed Jun 27, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Jun 27, 2024
MXC$8.86-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| March 31, | March 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $2,473,484 | $2,235,771 |
| Accounts receivable: | ||
| Oil and natural gas sales | 1,001,709 | 1,366,784 |
| Trade | 9,186 | 7,031 |
| Prepaid drilling | 148,748 | 67,951 |
| Prepaid costs and expenses | 56,193 | 56,502 |
| Total current assets | 3,689,320 | 3,734,039 |
| Property and equipment, at cost | ||
| Oil and gas properties, using the full cost method | 48,304,585 | 45,391,634 |
| Other | 121,926 | 121,926 |
| Accumulated depreciation, depletion and amortization | (34,184,837) | (32,215,095) |
| Property and equipment, net | 14,241,674 | 13,298,465 |
| Investment – cost basis | 1,100,000 | 700,000 |
| Operating lease, right-of-use asset | 19,263 | 75,629 |
| Other noncurrent assets | 8,597 | 12,156 |
| Total assets | $19,058,854 | $17,820,289 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued expenses | $221,603 | $201,897 |
| Income tax payable | 189,254 | - |
| Operating lease liability, current | 19,263 | 56,366 |
| Total current liabilities | 430,120 | 258,263 |
| Long-term liabilities | ||
| Operating lease liability, long-term | - | 19,263 |
| Deferred income tax liability | 311,661 | - |
| Asset retirement obligations | 688,808 | 710,276 |
| Total long-term liabilities | 1,000,469 | 729,539 |
| Total liabilities | 1,430,589 | 987,802 |
| Commitments and contingencies | - | - |
| Stockholders’ equity | ||
| Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding | - | - |
| Common stock - $0.50 par value; 40,000,000 shares authorized; 2,226,916 and 2,221,416 shares issued; and, 2,091,399 and 2,136,000 shares outstanding as of March 31, 2024 and 2023 | 1,113,458 | 1,110,708 |
| Additional paid-in capital | 8,567,856 | 8,321,145 |
| Retained earnings | 9,122,481 | 7,991,129 |
| Treasury stock, at cost (135,517 and 85,416 shares, respectively) | (1,175,530) | (590,495) |
| Total stockholders’ equity | 17,628,265 | 16,832,487 |
| Total liabilities and stockholders’ equity | $19,058,854 | $17,820,289 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.