Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and cash equivalents $ 71,301 $ 79,580
Accrued receivables 27,644 17,773
Other assets 3,076 849
Prepaid income taxes 0 1,202
Property, plant and equipment, net of accumulated depreciation of $791 and $463 as of March 31, 2018 and December 31, 2017, respectively 31,029 19,516
Real estate acquired 1,866 1,115
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
Total assets 134,916 120,035
LIABILITIES AND CAPITAL    
Accounts payable and accrued expenses 4,855 5,608
Income taxes payable 10,473 851
Deferred taxes payable 114 114
Unearned revenue 8,932 8,364
Total liabilities 24,374 14,937
Commitments and contingencies 0 0
Capital:    
Certificates of Proprietary Interest, par value $100 each; none outstanding 0 0
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding 7,808,453 and 7,821,599 Sub-shares as of March 31, 2018 and December 31, 2017, respectively 0 0
Accumulated other comprehensive loss (791) (804)
Net proceeds from all sources 111,333 105,902
Total capital 110,542 105,098
Total liabilities and capital 134,916 120,035
Land Surface Rights    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
Land (surface rights) situated in eighteen counties in Texas – 877,514 acres and 877,633 acres as of March 31, 2018 and December 31, 2017, respectively 0 0
1/16th Nonparticipating Perpetual Royalty Interest    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
1/16th nonparticipating perpetual royalty interest in 373,777 acres 0 0
1/128th Nonparticipating Perpetual Royalty Interest    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
1/128th nonparticipating perpetual royalty interest in 85,414 acres $ 0 $ 0