MEXCO ENERGY CORP
For the period ended Mar 31, 2025. Filed Jun 27, 2025.
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FY2025 · Filed Jun 27, 2025
MXC$9.01+1.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Years ended March 31,
| 2025 · 2024 | |||
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $1,712,368 | $1,344,952 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred income tax expense | 8,943 | 311,661 | |
| Stock-based compensation | 205,639 | 229,799 | |
| Depreciation, depletion and amortization | 2,452,694 | 1,969,742 | |
| Accretion of asset retirement obligations | 29,983 | 29,869 | |
| Amortization of debt issuance costs | 4,299 | 4,309 | |
| Changes in operating assets and liabilities: | |||
| (increase) Decrease in accounts receivable | (170,644) | 362,920 | |
| (Increase) decrease in right-of-use asset | (107,262) | 56,366 | |
| (increase) Decrease in prepaid expenses | (4,788) | 309 | |
| Increase in accounts payable and accrued expenses | 69,059 | 16,198 | |
| Increase (decrease) in operating lease liability | 107,262 | (56,366) | |
| Increase in income tax payable | 3,548 | 189,254 | |
| Settlement of asset retirement obligations | (41,480) | (25,078) | |
| Net cash provided by operating activities | 4,269,621 | 4,433,935 | |
| Cash flows from investing activities: | |||
| Additions to oil and gas properties | (3,416,616) | (3,349,326) | |
| Drilling refund | 59,471 | 26,194 | |
| Investment in limited liability companies at cost | (1,000,000) | (400,000) | |
| Proceeds from sale of oil and gas properties and equipment | 202,570 | 306,633 | |
| Net cash used in investing activities | (4,154,575) | (3,416,499) | |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 77,641 | 19,662 | |
| Proceeds from long-term debt | 650,000 | 275,000 | |
| Debt issuance costs | - | (750) | |
| Dividends paid | (209,000) | (213,600) | |
| Acquisition of treasury stock | (703,216) | (585,035) | |
| Reduction of long-term debt | (650,000) | (275,000) | |
| Net cash used in financing activities | (834,575) | (779,723) | |
| Net (decrease) increase in cash and cash equivalents | (719,529) | 237,713 | |
| Cash and cash equivalents at beginning of year | 2,473,484 | 2,235,771 | |
| Cash and cash equivalents at end of year | $1,753,955 | $2,473,484 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $1,852 | $925 | |
| Cash paid for income taxes | $228,487 | $ | - |
| Accrued capital expenditures included in accounts payable | $38,417 | $21,693 | |
| Non-cash investing and financing activities: | |||
| Asset retirement obligations | $5,231 | $7,617 | |
The accompanying notes to the consolidated financial statementsare an integral part of these statements.
MEXCO ENERGY CORPORATION AND SUBSIDIARIES
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