Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 59

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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, non-current portion708,304 647,078 Financing lease liability, total$1,554,684 $1,553,197 Total undiscounted future cash flows (sum of future financing lease payments)1,676,635 1,667,763 Imputed interest121,951 114,566 Undiscounted future cash flows less imputed interest$1,554,684 $1,553,197 The following table provides supplemental information regarding lease costs in the Condensed Statements of Operations:For the Three Months EndedMarch 31, 2025March 31, 2024Operating lease costs$175,091 $175,091 Short-term lease costs (1)1,152,304 981,291 Financing lease costs:Amortization of financing lease assets (2)264,787 260,901 Interest on financing lease liabilities (3)28,741 31,317 (1)Amount included in Lease operating expenses(2)Amount included in Depreciation, depletion and amortization(3)Amount included in Interest (expense)

NOTE 4 — EARNINGS PER SHARE INFORMATIONThe following table presents the calculation of the Company's basic and diluted earnings (loss) per share for the three months ended March 31, 2025 and 2024. For all dilutive securities, the treasury stock method of calculating the incremental shares is applied.For the Three Months EndedMarch 31, 2025March 31, 2024Net Income (Loss)$9,110,738 $5,515,377 Basic Weighted-Average Shares Outstanding199,314,182 197,389,782 Effect of dilutive securities:Stock options— — Restricted stock units1,509,099 1,126,604 Performance stock units219,236 752,551 Common warrants30,077 36,213 Diluted Weighted-Average Shares Outstanding201,072,594 199,305,150 Basic Earnings (Loss) per Share$0.05 $0.03 Diluted Earnings (Loss) per Share$0.05 $0.03 The following table presents the securities which were excluded from the Company's computation of diluted earnings (loss) per share for the three months ended March 31, 2025 and 2024, as their effect would have been anti-dilutive.

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