TEXC.. $0.15.. Nice earnings because of a full qtr's activity at the Eagle Shale facility.. Bodes well for the future and Now $0.07 is with-in reach for the year.. hank
For the Three Months Ended For the Six Months Ended
June 30, 2012
June 30, 2011
(Restated) June 30, 2012
June 30, 2011
(Restated)
Revenues $ 3,681,368 $ 2,694,477 $ 6,209,781 $ 5,333,057
Cost of revenues, excluding royalties 969,416 429,500 1,555,514 839,891
Royalties 748,222 825,629 1,394,116 1,406,391
Total cost of revenues 1,717,638 1,255,129 2,949,630 2,246,282
Gross profit 1,963,730 1,439,348 3,260,151 3,086,775
Selling, general, and administrative expenses 504,411 380,927 1,029,224 774,267
Operating income 1,459,319 1,058,421 2,230,927 2,312,508
Other income (expense)
Interest expense (385,721) (310,305) (735,603) (602,143)
Enhanced payments to stockholders - (65,627) (65,627) (196,881)
Equity in income (loss) of affiliate (2,674) (7,682) (92,612) (33,297)
Unrealized gain on derivative liability 313,794 - 7,835 -
Other income - 1,000 - 1,058
Income before provision for income taxes and noncontrolling interest 1,384,718 675,807 1,344,920 1,481,245
Provision for income taxes - - - -
Net income 1,384,718 675,807 1,344,920 1,481,245
Income attributable to noncontrolling interest (155,696) (117,210) (197,046) (240,282)
Net income available to common stockholders $ 1,229,022 $ 558,597 $ 1,147,874 $ 1,240,963
Income per common share – basic $ 0.02 $ 0.01 $ 0.02$ 0.02
Income per common share – diluted $ 0.02 $ 0.01 $ 0.02$ 0.02
Weighted average common shares outstanding – basic 63,623,444 62,554,330 63,281,799 62,378,826
Weighted average common shares outstanding – diluted 66,949,087 73,626,180 66,607,442 73,450,676
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