sale or assignment...
We generated net income of $1,566,415 for the three months ended January 31, 2014 and our net income for the nine months ended January 31, 2014 was $1,089,117. Included in net income for the three and nine months ended January 31, 2014 are gains of $1,728,235 recorded in connection with our conveyance of certain royalty and over-riding royalty interests in oil and gas properties with an effective date of December 1, 2013. From our inception through January 31, 2014, we have received revenues from our oil and natural gas activities, while historically we have incurred substantial acquisition and impairment costs and overhead expenses which have resulted in an accumulated deficit through January 31, 2014 of $20,972,060. The conveyance of certain royalty interests and over-riding royalty interests in oil and gas properties constitute the conveyance of a significant portion of our revenue stream which may result in increase in our accumulated deficit in future fiscal periods.