Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2016 | Aug. 12, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | ALTEX INDUSTRIES INC | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Trading Symbol | altx | |
Amendment Flag | false | |
Entity Central Index Key | 775,057 | |
Current Fiscal Year End Date | --09-30 | |
Entity Common Stock, Shares Outstanding | 12,903,232 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2016 | Sep. 30, 2015 |
Current assets | ||
Cash and cash equivalents | $ 2,512,000 | $ 2,605,000 |
Accounts receivable | 1,000 | 7,000 |
Other | 21,000 | 16,000 |
Total current assets | 2,534,000 | 2,628,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 334,000 | 334,000 |
Other | 17,000 | 17,000 |
Total property and equipment, at cost | 351,000 | 351,000 |
Less accumulated depreciation, depletion, and amortization | (218,000) | (202,000) |
Net property and equipment | 133,000 | 149,000 |
Other assets | 1,000 | 1,000 |
Total assets | 2,668,000 | 2,778,000 |
Current liabilities | ||
Accounts payable | 15,000 | 18,000 |
Other accrued expenses | 1,022,000 | 844,000 |
Total current liabilities | 1,037,000 | 862,000 |
Commitments and Contingencies | ||
Stockholders' equity | ||
Preferred stock, $.01 par value. Authorized 5,000,000 shares, none issued | ||
Common stock, $.01 par value. Authorized 50,000,000 shares; issued, 12,923,232; outstanding 12,903,232 | 129,000 | 129,000 |
Additional paid-in capital | 13,851,000 | 13,851,000 |
Accumulated deficit | (12,347,000) | (12,064,000) |
Treasury stock, at cost, 20,000 shares | (2,000) | |
Total stockholders' equity | 1,631,000 | 1,916,000 |
Total liabilities and stockholders' equity | $ 2,668,000 | $ 2,778,000 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parenthetical - $ / shares | Jun. 30, 2016 | Sep. 30, 2015 |
Consolidated Balance Sheets Parenthetical | ||
Preferred stock par value | $ 0.01 | $ 0.01 |
Preferred stock shares authorized | 5,000,000 | 5,000,000 |
Preferred stock shares issued | ||
Common stock par value | $ 0.01 | $ 0.01 |
Common stock shares authorized | 50,000,000 | 50,000,000 |
Common stock shares issued | 12,923,232 | 12,923,232 |
Common stock shares outstanding | 12,903,232 | 12,923,232 |
Treasury stock shares | 20,000 |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Revenue | ||||
Oil and gas sales | $ 3,000 | $ 4,000 | $ 17,000 | $ 32,000 |
Other income | 18,000 | 21,000 | ||
Total revenue | 3,000 | 22,000 | 17,000 | 53,000 |
Costs and expenses | ||||
Lease operating | 2,000 | |||
Production taxes | 1,000 | 3,000 | ||
General and administrative | 102,000 | 97,000 | 296,000 | 291,000 |
Depreciation, depletion, and amortization | 5,000 | 5,000 | 16,000 | 14,000 |
Total costs and expenses | 107,000 | 102,000 | 313,000 | 310,000 |
Other income (expense) | ||||
Interest income | 4,000 | 4,000 | 13,000 | 13,000 |
Net loss | $ (100,000) | $ (76,000) | $ (283,000) | $ (244,000) |
Loss per share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.02) |
Weighted average shares outstanding | 12,923,012 | 12,968,921 | 12,923,159 | 12,972,391 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows used in operating activities | ||
Net loss | $ (283,000) | $ (244,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 16,000 | 14,000 |
Decrease in accounts receivable | 6,000 | 4,000 |
Increase in other current assets | (5,000) | (5,000) |
Increase (decrease) in accounts payable | (3,000) | 2,000 |
Increase in other accrued expenses | 178,000 | 170,000 |
Net cash used in operating activities | (91,000) | (59,000) |
Cash flows from financing activities | ||
Acquisition of treasury stock | (2,000) | (1,000) |
Net cash flows from financing activities | (2,000) | (1,000) |
Net decrease in cash and cash equivalents | (93,000) | (60,000) |
Cash and cash equivalents at beginning of period | 2,605,000 | 2,699,000 |
Cash and cash equivalents at end of period | $ 2,512,000 | $ 2,639,000 |
Note 1 - Financial Statements
Note 1 - Financial Statements | 9 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 1 - Financial Statements | Note 1 - Basis of Presentation |