UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 10-Q

X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
X      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 
For the quarterly period ended JuneSeptember 30, 2012

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT


Commission File Number 1-31905

CKX Lands, Inc.
(Exact name of registrant as specified in its charter)


Louisiana 72-0144530
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
   
   
700 Pujo Street, Suite 200  
Lake Charles, LA 70601
(Address of principal executive offices) (Zip Code)
   
 (337) 493-2399 
 (Registrant’s telephone number) 




Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes xNo o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every
Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer oLarge accelerated filer    oAccelerated filer                    o
Non-accelerated filer   oSmaller reporting company  x
Non-accelerated filer      o              Smaller reporting company         x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes o No x
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes  o  No  x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 1,942,495
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 1,942,495
 
 
 
 
 
CKX Lands, Inc.
Form 10-Q
For the Quarter ended JuneSeptember 30, 2012
 
Table of Contents
  Page
Part I.Financial Information 
    
Item 1.Financial Statements  
    
a.Balance Sheets as of JuneSeptember 30, 2012 and December 31, 2011 (Unaudited) 1
b.Statements of Income and Comprehensive Income for the quarter and sixnine months ended JuneSeptember 30, 2012 and 2011 (Unaudited) 2
c.Statements of Changes in Stockholders’ Equity for the sixnine months ended JuneSeptember 30, 2012 and 2011 (Unaudited) 3
d.Statements of Cash Flows for the sixnine months ended JuneSeptember 30, 2012 and 2011 (Unaudited) 4
e.Notes to Financial Statements (Unaudited) 5-6
    
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations 7-8
    
Item 4.Controls and Procedures 8
    
Part II.Other Information  
    
Item 6.Exhibits 9
    
 Signature 10

 
 
 
 


Part I – Financial Information

Item 1.   FINANCIAL STATEMENTS
 
CKX Lands, Inc.
Balance Sheets
JuneSeptember 30, 2012 and December 31, 2011
(Unaudited)

 2012  2011  2012  2011 
AssetsAssets Assets 
Current Assets:            
Cash and cash equivalents $4,628,568  $4,124,908  $5,109,103  $4,124,908 
1031 trust account  159,003   -- 
Certificates of deposit  501,384   495,625   741,384   495,625 
Accounts receivable  219,774   276,217   300,847   276,217 
Prepaid expense and other assets  109,060   20,828   93,774   20,828 
Total current assets  5,617,789   4,917,578   6,245,108   4,917,578 
Securities available for sale  --   -- 
Certificates of deposit  480,000   480,000   --   480,000 
Property and equipment:                
Building and equipment less accumulated depreciation of $74,162 and $70,818, respectively  16,270   19,614 
Timber less accumulated depletion of $691,823 and $691,436, respectively  1,150,522   1,146,743 
Building and equipment less accumulated depreciation of $75,833 and $70,818, respectively  14,599   19,614 
Timber less accumulated depletion of $694,929 and $691,436, respectively  1,241,425   1,146,743 
Land  4,396,034   4,431,034   4,434,081   4,431,034 
Total property and equipment, net  5,562,826   5,597,391   5,690,105   5,597,391 
Total assets $11,660,615  $10,994,969  $11,935,213  $10,994,969 
                
Liabilities and Stockholders’ EquityLiabilities and Stockholders’ Equity Liabilities and Stockholders’ Equity 
Current Liabilities:                
Trade payables and accrued expenses $54,435  $58,662  $98,562  $58,662 
Income tax payable:                
Current  --   87,419   --   87,419 
Deferred  3,976   5,153   5,153   5,153 
Total current liabilities  58,411   151,234   103,715   151,234 
Deferred income tax payable  181,818   181,818   181,818   181,818 
Total liabilities  240,229   333,052   285,533   333,052 
Stockholders’ Equity:                
Common stock, no par value: 3,000,000 shares authorized; 2,100,000 shares issued  72,256   72,256   72,256   72,256 
Retained earnings  11,723,646   10,965,177   11,952,940   10,965,177 
Accumulated other comprehensive income  --   --   --   -- 
Less cost of treasury stock (157,505 shares)  (375,516)  (375,516)  (375,516)  (375,516)
Total stockholders’ equity  11,420,386   10,661,917   11,649,680   10,661,917 
Total liabilities and stockholders’ equity $11,660,615  $10,994,969  $11,935,213  $10,994,969 
 
The accompanying notes are an integral part of these financial statements.
 
 
1
 
 
CKX Lands, Inc.
Statements of Income and Comprehensive Income
Quarter and SixNine Months Ended JuneSeptember 30, 2012 and 2011
 (Unaudited)

  Quarter Ended June 30,   Six Months Ended June 30,  Quarter Ended September 30,  Nine Months Ended September 30, 
  2012   2011   2012   2011  2012  2011  2012  2011 
Revenues:                            
Oil and gas $520,682  $338,834  $1,425,324  $634,613  $676,782  $565,573  $2,102,106  $1,200,186 
Agriculture  284,510   16,738   310,043   24,464   17,379   22,124   327,422   46,588 
Timber  70   --   5,005   3,439   32,499   83,193   37,504   86,632 
Total revenues  805,262   355,572   1,740,372   662,516   726,660   670,890   2,467,032   1,333,406 
Costs and Expenses:                                
Oil and gas production  57,939   28,256   122,979   51,244   60,672   38,794   183,651   90,208 
Agriculture  1,047   2,455   1,854   2,962   2,098   2,258   3,952   5,220 
Timber  6,057   4,986   14,226   14,637   13,717   17,778   27,943   32,414 
General and administrative  115,493   128,187   216,969   219,843   127,101   99,712   344,070   319,387 
Depreciation and depletion  1,615   738   3,731   21,298   4,777   30,210   8,507   51,507 
Total cost and expenses  182,151   164,622   359,759   309,984   208,365   188,752   568,123   498,736 
Income from operations  623,111   190,950   1,380,613   352,532   518,295   482,138   1,898,909   834,670 
Other Income / (Expense):                                
Interest income  4,706   10,276   5,244   20,469   4,712   9,817   10,010   30,286 
Dividend income  55   4,664   55   9,527   --   3,854   --   13,381 
Gain/(Loss) on securities available-for-sale      10,688       10,688 
Gain on sale of land and other assets  --   --   124,000   306   --   --   124,000   306 
Net other income / (expense)  4,761   14,940   129,299   30,302   4,712   24,359   134,010   54,661 
Income before income taxes  627,872   205,890   1,509,912   382,834   523,007   506,497   2,032,919   889,331 
Federal and state income taxes:                                
Current  255,026   54,537   485,325   99,531   162,848   160,247   648,173   259,779 
Deferred  (45,800)  (12,575)  (5,831)  (12,427)  3,003   863   (2,828)  (11,565)
Total income taxes  209,226   41,962   479,494   87,104   165,851   161,110   645,345   248,214 
Net Income  418,646   163,928   1,030,418   295,730   357,156  $345,387   1,387,574   641,117 
Other Comprehensive Income, Net of Taxes:                                
Change in unrealized net holding gains occurring during period, net of taxes of $1,813 and $2,321, respectively for 2011  --   2,718   --   3,481 
Change in unrealized net holding gains occurring during period, net of taxes of $6,042 and $3,721, respectively for 2011  --   (9,062)  --   (5,581)
Other comprehensive income  --   2,718   --   3,481   --   (9,062   --   (5,581)
Comprehensive Income $418,646  $166,646  $1,030,418  $299,211  $357,156  $336,325  $1,387,574  $635,536 
                                
Per Common Stock (1,942,495 shares):                                
Net Income $0.22  $0.08  $0.53  $0.15  $0.18  $0.18  $0.71  $0.33 
Dividends $0.07  $0.07  $0.14  $0.14  $0.07  $0.07  $0.21  $0.21 
 
The accompanying notes are an integral part of these financial statements.
 
 
2
 
 
CKX Lands, Inc.
Statements of Changes in Stockholders’ Equity
SixNine Months Ended JuneSeptember 30, 2012 and 2011
(Unaudited)
 
Nine Months Ended September 30, 2012:
Six Months Ended June 30, 2012:               
 
Total
  
Retained
Earnings
  
Accumulated
Other
Comprehensive
Income
  
Capital
Stock
Issued
  
Treasury
Stock
  
Total
  
Retained
Earnings
  
Accumulated
Other
Comprehensive
Income
  
Capital
Stock
Issued
  
Treasury
Stock
 
December 31, 2011 Balance $10,661,917  $10,965,177  $--  $72,256  $375,516  $10,661,917  $10,965,177  $--  $72,256  $375,516 
Net income  1,030,418   1,030,418   --   --   --   1,387,574   1,387,574   --   --   -- 
Other comprehensive income  --   --   --   --   --   --   --   --   --   -- 
Dividends  (271,949)  (271,949)  --   --   --   (407,924)  (407,924)  --   --   -- 
June 30, 2012 Balance $11,420,386  $11,723,646  $--  $72,256  $375,516 
Dividend reversion  8,113   8,113   --   --   -- 
September 30, 2012 Balance $11,649,680  $11,952,940  $--  $72,256  $375,516 
 
Six Months Ended June 30, 2011:                    
  
Total
  
Retained
Earnings
  
Accumulated
Other
Comprehensive
Income
  
Capital
Stock
Issued
  
Treasury
Stock
 
December 31, 2010 Balance $10,246,245  $10,543,924  $5,581  $72,256  $375,516 
Net income  295,730   295,730   --   --   -- 
Other comprehensive income  3,481   --   3,481   --   -- 
Dividends  (271,949)  (271,949)  --   --   -- 
Dividend reversion  13,375   13,375   --   --   -- 
                     
June 30, 2011 Balance $10,286,882  $10,581,080  $9,062  $72,256  $375,516 
Nine Months Ended September 30, 2011:
  
Total
  
Retained
Earnings
  
Accumulated
Other
Comprehensive
Income
  
Capital
Stock
Issued
  
Treasury
Stock
 
December 31, 2010 Balance $10,246,245  $10,543,924  $5,581  $72,256  $375,516 
Net income  641,117   641,117   --   --   -- 
Other comprehensive income  (5,581)  --   (5,581)  --   -- 
Dividends  (407,924)  (407,924)  --   --   -- 
Dividend reversion  13,375   13,375   --   --   -- 
                     
September 30, 2011 Balance $10,487,232  $10,790,492  $--  $72,256  $375,516 
The accompanying notes are an integral part of these financial statements.
 
 
3
 
 
CKX Lands, Inc.
Statements of Cash Flows
SixNine Months Ended JuneSeptember 30, 2012 and 2011
(Unaudited)

 2012  2011  2012  2011 
Cash Flows From Operating Activities:            
Net Income
  1,030,418   295,730  $1,387,574  $641,117 
Less non-cash (income) expenses included in net income:
                
Depreciation, depletion and amortization
  3,731   21,298   8,507   51,507 
Deferred income tax expense
  (5,831)  (12,427)  (2,828)  (11,565)
Less non-operating activities:
                
Gain from sale of land and other assets
  (124,000)  (306)  (124,000)  (306)
Change in operating assets and liabilities:
                
Increase in current assets
  (27,135)  (88,587)
Decrease in current liabilities
  (91,646)  (9,290)
(Increase) decrease in current assets
  (94,748)  7,724 
Increase (decrease) in current liabilities
  (47,519)  11,551 
Net cash provided from operating activities
  785,537   206,418   1,126,986   700,028 
                
Cash Flows From Investing Activities:                
Certificates of deposit:
                
Maturity proceeds
  255,625   --   495,625   -- 
Purchases
  (261,384)  (5,625)  (261,384)  (725,625)
Securities:
                
Sales proceeds      787,841 
Purchases
  --   (9,470)  --   (12,560)
Land, timber, equipment and other assets:
                
Sales proceeds
  159,000   167   159,000   167 
Purchases
  (4,166)  (532,944)  (136,221)  (604,483)
Proceeds held in 1031 trust account  (159,003)  --   --   -- 
Net cash used in investing activities
  (9,928)  (547,872)
Net cash provided from (used in) investing activities
  257,020   (554,660)
                
Cash Flows From Financing Activities:                
Dividends paid, net of reversion
  (271,949)  (258,574)  (399,811)  (394,549)
Net cash used in financing activities
  (271,949)  (258,574)  (399,811)  (394,549)
Net increase (decrease) in cash and cash equivalents  503,660   (600,028)  984,195   (249,181)
                
Cash and cash equivalents:                
Beginning
  4,124,908   5,182,316   4,124,908   5,182,316 
Ending
  4,628,568   4,582,288  $5,109,103  $4,933,135 
                
Supplemental disclosures of cash flow information:                
Cash payments for:                
Interest
  --   --  $--  $-- 
Income taxes
  606,641   112,160  $781,641  $139,660 
                
Supplemental schedule of non-cash investing and financing activities:                
Net change in recognized and unrecognized unrealized gains (losses) on available-for-sale securities
  --   5,802  $--  $(9,302)

The accompanying notes are an integral part of these financial statements.
 
 
4
 
 
CKX Lands, Inc.
Notes to Financial Statements
JuneSeptember 30, 2012
(Unaudited)

Note 1:       Basis of Presentation

The accompanying unaudited financial statements of CKX Lands, Inc. (“Company”) have been prepared in accordance with United States generally accepted accounting principles for interim financial information.  They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements.  Except as described herein, there has been no material change in the information disclosed in the notes to the financial statements included in our financial statements as ofof and for the year ended December 31, 2011.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included in the accompanying financial statements.

Interim results are not necessarily indicative of results for a full year.  These financial statements and accompanying notes should be read in conjunction with the Company’s Form 10-K for the year ended December 31, 2011 and Form 10-Q for the quarterly periodquarter ended JuneSeptember 30, 2011.2012.

Note 2:       Recently Adopted Accounting Pronouncements

In 2012, we adopted Accounting Standards Update (ASU) 2011-05 which requires the presentation of the components of net income and other comprehensive income and other comprehensive income either in a single continuous statement or in two separate but consecutive statements. This update eliminates the option to present the components of other comprehensive income as part of the statement of shareholders’ equity.

Note 3:       Disclosures about Fair Value:

Securities available for sale and certificate of deposits (securities held to maturity) are valued at fair value.  The Company’s estimated fair values of securities are as follows.
 
 June 30, 2012  September 30, 2012 
 Current  Non-Current  Total  Current  Non-Current  Total 
 Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
 
                                    
Certificate of Deposits $501,384   --   480,000   --   981,384   --  $741,384   --   --   --   741,384   -- 
Mutual Funds  --   --   --   --   --   --   --   --   --   --   --   -- 
Equity Securities  --   --   --   --   --   --   --   --   --   --   --   -- 
                                                
Total $501,384   --   480,000   --   981,384   --  $741,384   --    --   --   741,384   -- 
 
 June 30, 2011  September 30, 2012 
 Current  Non-Current  Total  Current  Non-Current  Total 
 Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
  Fair Value  
Unrealized
Gain/(Loss)
 
                                          
Certificate of Deposits $495,625   --   --   --   495,625   --  $735,625   --   480,000   --   1,215,625   -- 
Mutual Funds  --   --   799,044   13,078   799,044   13,078   --   --   --   --   --   -- 
Equity Securities  --   --   --   --   --   --   --   --    --   --   --   -- 
                                                
Total $495,625   --   799,044   13,078   1,294,669   13,078  $735,625   --   480,000    --   1,215,625   -- 
 
 
5
 
 
CKX Lands, Inc.
Notes to Financial Statements
JuneSeptember 30, 2012
(Unaudited)

Fair value measurements disclosure for securities is as follows.
 
 June 30, 2012  September 30, 2011 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
  
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
                  
Certificate of Deposit $981,384   --   --  $741,384   --   -- 
                        
Mutual Funds  --   --   --   --   --   -- 
                        
Equity Securities $--   --   --  $--   --   -- 
 
 
June 30, 2011
  September 30, 2011 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
  
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
                  
Certificate of Deposit $495,625   --   --  $1,215,625   --   -- 
                        
Mutual Funds  799,044   --   --   --   --   -- 
                        
Equity Securities $--   --   --  $--   --   -- 

 
Note 4:       Income Taxes:

In accordance with generally accepted accounting principles, the Company has analyzed its filing positions in federal and state income tax returns for the tax years ending December 31, 2008 through 2011 that remain subject to examination.  The Company believes that all filing positions are highly certain and that all income tax filing positions and deductions would be sustained upon a taxing jurisdiction’s audit. Therefore, no reserve for uncertain tax positions is required.  No interest or penalties have been levied against the Company and none are anticipated.
 
Note 5:       Land Sale:

During the first quarter of 2012, the Company sold 80 acres of land for $160,000 and reported a gain of $124,000.  At March 31, 2012, this transaction was structured as a “deferred exchange using a qualified intermediary” pursuant to Paragraph 1031 of the Internal Revenue Code (1031 Exchange) for income tax purposes and as such the gain of $124,000 was deferred for income tax purposes.  During July, 2012, the Company determined that it would not be able to complete the 1031 Exchange and the $159,000 held by the intermediary was returned to the Company.  At June 30, 2012, the Company recorded the $124,000 gain as current for income tax purposespurposes.
 
 
6
 
 
Item 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations

Revenue

Revenues for the first sixnine months of 2012 increased by $1,077,856$1,133,626 from the revenues for the first sixnine months of 2011 to $1,740,372.$2,467,032.

Oil and gas revenues increased by $790,711$901,920 to $1,425,324$2,102,106 in 2012.  Oil and gas revenues consists of royalty, lease rental and geophysical revenue.  Royalty revenue increased by $767,816$928,662 and lease rentals decreased by $6,970$63,330 from 2011.  Geophysical revenues increased by $29,864$36,588 from 2011.

Gas production increased by 10,20311,834 MCF, and the average gas sales price per MCF decreased by 26.80%33.92% resulting in a decrease in gas revenue of $5,944.$43,523. Revenue from oil production increased by $684,365,$849,949, due to an increase of 9.17%2.95% in the average barrel sales price and aan increase in production of approximately 5,9247,795 barrels.  Revenues from plant products increased by $89,395$122,237 from 2011 revenues.

The following schedule summarizes barrels and MCF produced and average price per barrel and per MCF.

 
Six Months
Ended
06/30/12
  
Six Months
Ended
06/30/11
  
Nine Months
Ended
09/30/12
  
Nine Months
Ended
09/30/11
 
Net gas produced (MCF)  42,868   32,665   60,205   48,372 
Average gas sales price (per MCF)(1)
 $3.47  $4.74  $3.34  $5.05 
                
Net oil produced (Bbl)(2)
  9,988   4,064   15,074   7,279 
        
Average oil sales price (per Bbl)(1,2)
 $109.22  $100.05  $106.20  $103.15 

Notes to above schedule:
 
(1) Before deduction of production and severance taxes.
(2) Excludes plant products.
 
Timber revenue increaseddecreased from $3,439$86,632 to $5,005$37,503 in 2012.  Generally, timber prices have been depressed for the last several years and the Company has elected to only harvest timber for internal maintenance programs for age class timber and storm protection measures.

Agriculture revenue increased from $24,464$46,588 to $310,042$327,422 in 2012, primarily due to a pipeline right of way fee.

Costs and Expenses

Oil and gas production costs, primarily severance taxes, increased by $71,735$93,443 in 2012 due to increased oil and gas revenues.

General and administrative expenses increased in 2012 primarily due to increased property management fees related to staffing changes at WLP.

Other costs and expenses incurred for the sixnine months ended December 31,September 30, 2012 were generally flat from 2011 reported amounts.
 
 
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Financial Condition

Current assets less restricted cash and non-current certificates of deposit totaled $5,938,786$6,245,107 and total liabilities equaled $240,229$285,531 at JuneSeptember 30, 2012.  Management believes available cash and investments together with funds generated from operations should be sufficient to meet operating requirements and provide funds for strategic acquisitions.

The Company declared and paid another seven cents per common share during the quarter ended JuneSeptember 30, 2012. It is anticipated that the Company will be able to continue paying a seven cents per common share dividend each quarter.  From time to time, the Company may elect to pay an extra dividend.  In determining if an extra dividend will be declared, the Board of Directors will take into consideration the Company’s current liquidity and capital resources and the availability of suitable timberland that has mineral potential.

Issues and Uncertainties

This Quarterly Report contains forward-looking statements.  These statements are based on current expectations and assumptions that are subject to risks and uncertainties.  Actual results could differ materially because of issues and uncertainties such as those discussed below, which, among others, should be considered in evaluating the Company’s financial outlook.

Revenues from oil and gas provide most of the Company’s income.  All of these revenues come from wells operated by other companies from property belonging to CKX Lands, Inc.  Consequently, these revenues fluctuate due to changes in oil and gas prices and changes in the operations of the other companies.

 
Item 3.   Not applicable.
 
Item 4.   CONTROLS AND PROCEDURES
 
Evaluation of Disclosure Controls and Procedures

The Company has evaluated the effectiveness of the design and operation of its disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 as of the period covered by this report. Based on the evaluation, performed under the supervision and with the participation of the Company’s management, including the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), the Company’s management, including the CEO and CFO, concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by the report.
 
Changes in Internal Control Over Financial Reporting

There were no significant changes with respect to the Company’s internal control over financial reporting or in other factors that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting during the quarter covered by this report.
 
 
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Part II.  Other Information

 
Item 1 – 5.     Not Applicable
 
Item 6.   EXHIBITS

 3.1Restated/Articles of Incorporation of the Registrant are incorporated by reference to Exhibit (3)-1 to Form 10 filed April 29, 1981.

 3.2Amendment to Articles of Incorporation of the Registrant is incorporated by reference to Exhibit (3.2) to Form 10-K for year ended December 31, 2003.

 3.3By-Laws of the Registrant are incorporated by reference to Exhibit (3.3) to Form 10-K for year ended December 31, 2003.filed herewith

 10Contract to Purchase and Sell approximately 3,495 acres in Cameron Parish, Louisiana effective July 3, 2007 is incorporated by reference to Exhibit (10) to Form 10-QSB filed August 13, 2007.

 31.1Certification of Joseph K. Cooper, President and Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 filed herewith.

31.2
Certification of Brian R. Jones, Treasurer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 filed herewith.

 32Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 filed herewith.
 
101.INS** XBRL Instance
101.SCH** XBRL Taxonomy Extension Schema
101.CAL** XBRL Taxonomy Extension Calculation
101.DEF** XBRL Taxonomy Extension Definition
101.LAB**  XBRL Taxonomy Extension Labels
101.PRE**  XBRL Taxonomy Extension Presentation
                   
** XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
 
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Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 CKX Lands, Inc. 
Date: August 9,November 8, 2012  /s/ Joseph K. Cooper 
 Joseph K. Cooper 
 President and Chief Executive Officer 
Date: August 9,November 8, 2012  /s/ Brian R. Jones
Brian R. Jones 
 
Brian R. Jones
Treasurer and Chief Financial Officer
 

                                                                                                                     
 
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