Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 126

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 Liabilities settled(44,763)Accretion expense326,549 Balance, March 31, 2025$29,268,349 The following table presents the Company's current and non-current asset retirement obligation balances as of the periods specified.March 31, 2025December 31, 2024Asset retirement obligations, current$441,611 $517,674 Asset retirement obligations, non-current28,826,738 25,864,843 Asset retirement obligations$29,268,349 $26,382,517 

NOTE 10 — STOCKHOLDERS' EQUITYAs of December 31, 2024, the Company had 78,200 exercisable common warrants outstanding, with a contractual exercise price of $0.80 per warrant, expiring five years from initial issuance in October 2020. During the three months ended March 31, 2025 and 2024, no common warrants were exercised. The following table reflects the common warrants 

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exercised, including the proceeds received for such exercises. As of March 31, 2025, there remained 78,200 exercisable common warrants.Common WarrantsExercise PriceProceeds ReceivedExercisable, December 31, 202378,200$0.80 Exercised—— $— Exercisable, March 31, 202478,200$0.80 Exercisable, December 31, 202478,200$0.80 Exercised—— $— Exercisable, March 31, 202578,200$0.80 

NOTE 11 — EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK UNITSShare-based compensation expense charged against income for share-based awards during the three months ended March 31, 2025 and 2024 was as follows. These amounts are included in General and administrative expense in the Condensed Statements of Operations.Three Months EndedMarch 31, 2025March 31, 2024Share-based compensation expense from:Employee stock options$— $— Restricted stock unit grants1,247,329 1,131,697 Performance stock unit awards443,629 592,135 Total share-based compensation$1,690,958 $1,723,832 In 2011, the Board of Directors (the "Board") of the Company approved and adopted a long-term incentive plan (the “201