Company: GULTU
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023391
Chunk: 0

Company: Gulf Coast Ultra Deep Royalty Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item
1.Financial Statements.

GULF
COAST ULTRA DEEP ROYALTY TRUST

STATEMENTS
OF ASSETS, LIABILITIES AND TRUST CORPUS

                                                                            June 30,                     December 31,                 
                                                                            2025                         2024                         
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                              
  Operating cash                                                            $                19,983      $                    15,571  
  Reserve fund cash and short-term investments                                            1,042,021                        1,020,456  
  Total assets                                                              $             1,062,004      $                 1,036,027  
  LIABILITIES AND TRUST CORPUS                                                                                                        
  Reserve fund liability                                                    $             1,193,652      $                 1,172,088  
  Note Payable to HOGA                                                                      253,219                          200,000  
  Trust corpus (230,172,696 royalty trust units authorized, issued and                                                                
  outstanding as of June 30, 2025 and 2024)                                                (384,867                         (336,061  
  Total liabilities and trust corpus                                        $             1,062,004      $                 1,036,027  

The
accompanying notes are an integral part of these financial statements.

   3  

GULF
COAST ULTRA DEEP ROYALTY TRUST

STATEMENTS
OF DISTRIBUTABLE INCOME (Unaudited)

                                                        Three Months Ended                                                  Six Months Ended                                    
                                                        June 30,                                                            June 30,                                            
                                                        2025                                     2024                       2025                                                
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Interest income and other                             $                               269      $               1,917      $                             542            3,257  
  Administrative expenses                                                          (399,348                   (156,042                               (399,348         (577,765  
  Administrative expenses in excess of income           $                          (399,079      $            (154,125      $                        (398,806         (574,508  
  Distributable income (Note 4)                         $                                 -      $                   -      $                               -                -  
  Royalty trust units outstanding at end of period                              230,172,696