Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
ASSETS    
Cash and cash equivalents $ 110,617 $ 79,580
Accrued receivables 39,615 17,773
Other assets 7,702 849
Prepaid income taxes 0 1,202
Property, plant and equipment, net of accumulated depreciation of $1,952 and $463 as of September 30, 2018 and December 31, 2017, respectively 57,989 19,516
Real estate acquired 3,778 1,115
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
Total assets 219,701 120,035
LIABILITIES AND CAPITAL    
Accounts payable and accrued expenses 8,884 5,608
Income taxes payable 3,059 851
Deferred taxes payable 114 114
Unearned revenue 12,604 8,364
Total liabilities 24,661 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 7,781,831 and 7,821,599 Sub-share Certificates as of September 30, 2018 and December 31, 2017, respectively 0 0
Accumulated other comprehensive loss (765) (804)
Net proceeds from all sources 195,805 105,902
Total capital 195,040 105,098
Total liabilities and capital 219,701 120,035
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 – 877,467 acres and 877,633 acres as of September 30, 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