SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Apr. 30, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended April 30,
	2019		2018
Base overriding royalties	$	3,068,019	$	3,857,485
Bonus royalties		2,106,957		2,634,231
Fee royalties		186,814		154,954
Total royalty income	$	5,361,790	$	6,646,670