Epsilon Energy Ltd
For the period ended Mar 31, 2024. Filed May 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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General and Administrative
General and Administrative (“G&A”)
| · · · · · · | ||||
|---|---|---|---|---|
| · · Three months ended March 31, | ||||
| · 2024 · 2023 | ||||
| General and administrative | | $1,880,592 | | $2,203,521 |
G&A expenses consist of general corporate expenses such as compensation, legal, accounting and professional fees, consulting services, travel and other related corporate costs such as restricted stock units granted.
G&A expenses decreased by $0.3 million, or 15%, during the three months ended March 31, 2024 from 2023. This was primarily due to a $0.05 million decrease in compensation after management transition expenses in 2023, a decrease of $0.1 million in legal fees, a decrease of $0.1 million decrease in accounting, tax, and other consulting fees, and a decrease of $0.05 million in office expenses.
Interest Income
| · · · · · · | ||||
|---|---|---|---|---|
| · · Three months ended March 31, | ||||
| · 2024 · 2023 | ||||
| Interest income | | $266,272 | | $490,762 |
Interest income for the three months ended March 31, 2024 and 2023 decreased by $0.2 million, or 46%, from the same period in 2023. This is primarily due to a reduction in the amount of outstanding financial instruments in short term investments.
Interest Expense
| · · · · · · | ||||
|---|---|---|---|---|
| · · Three months ended March 31, | ||||
| · 2024 · 2023 | ||||
| Interest expense | | $8,760 | | $28,437 |
Interest expense relates to the fees paid on the revolving credit facility.
Interest expense for the three months ended March 31, 2024 and 2023 decreased by $0.02 million, or 69%, as a result of a change in the fee structure under the new credit facility.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.