Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2022 | Feb. 03, 2023 | |
Details | ||
Registrant CIK | 0000775057 | |
Fiscal Year End | --09-30 | |
Registrant Name | ALTEX INDUSTRIES INC | |
SEC Form | 10-Q | |
Period End date | Dec. 31, 2022 | |
Tax Identification Number (TIN) | 84-0989164 | |
Number of common stock shares outstanding | 11,517,426 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 1-9030 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 700 Colorado Blvd #273 | |
Entity Address, City or Town | Denver | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80206 | |
City Area Code | 303 | |
Local Phone Number | 265-9312 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2022 | Sep. 30, 2022 |
Current assets | ||
Cash and cash equivalents | $ 2,304,000 | $ 2,358,000 |
Accounts receivable | 5,000 | 1,000 |
Other | 18,000 | 26,000 |
Total current assets | 2,327,000 | 2,385,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 327,000 | 327,000 |
Less accumulated depreciation, depletion, and amortization | (294,000) | (292,000) |
Net property and equipment | 33,000 | 35,000 |
Right-of-Use Asset | 65,000 | 71,000 |
Total assets | 2,425,000 | 2,491,000 |
Current liabilities: | ||
Accounts payable | 7,000 | 4,000 |
Operating lease liability | 25,000 | 25,000 |
Accrued expenses, related party | 1,141,000 | 1,073,000 |
Other accrued expenses | 2,000 | 11,000 |
Total current liabilities | 1,175,000 | 1,113,000 |
Long-term operating lease liability | 40,000 | 47,000 |
Total Liabilities | 1,215,000 | 1,160,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 116,000 | 121,000 |
Additional paid-in capital | 13,736,000 | 13,776,000 |
Accumulated deficit | (12,642,000) | (12,566,000) |
Total stockholders' equity | 1,210,000 | 1,331,000 |
Total liabilities and stockholders' equity | $ 2,425,000 | $ 2,491,000 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Dec. 31, 2022 | Sep. 30, 2022 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 11,517,426 | 12,011,401 |
Common Stock, Shares, Outstanding | 11,517,426 | 12,011,401 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue | ||
Oil and gas sales | $ 13,000 | $ 21,000 |
Total revenue | 13,000 | 21,000 |
Operating expense | ||
Production taxes | 1,000 | 1,000 |
General and administrative | 113,000 | 32,000 |
Depreciation, depletion, and amortization | 2,000 | 2,000 |
Total operating expense | 116,000 | 35,000 |
Other Nonoperating Income (Expense) | ||
Interest income | 19,000 | 0 |
Other income | 8,000 | 0 |
Total other income | 27,000 | 0 |
Net loss | $ (76,000) | $ (14,000) |
Basic and diluted loss per share | $ (0.01) | $ 0 |
Basic and diluted weighted average shares outstanding | 11,517,426 | 12,011,401 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - 3 months ended Dec. 31, 2022 - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Sep. 30, 2022 | $ 121,000 | $ 13,776,000 | $ (12,566,000) | $ 0 | $ 1,331,000 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2022 | 12,011,401 | ||||
Net loss | (76,000) | (76,000) | |||
Treasury Stock, Value, Acquired, Cost Method | (45,000) | (45,000) | |||
Treasury Stock, Retired, Cost Method, Amount | $ (5,000) | (40,000) | 45,000 | ||
Treasury Stock, Shares, Retired | (493,975) | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2022 | $ 116,000 | $ 13,736,000 | $ (12,642,000) | $ 0 | $ 1,210,000 |
Shares, Outstanding, Ending Balance at Dec. 31, 2022 | 11,517,426 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows used in operating activities | ||
Net loss | $ (76,000) | $ (14,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 2,000 | 2,000 |
Increase in accounts receivable | (4,000) | (4,000) |
Decrease in other current assets | 8,000 | 4,000 |
Increase in accounts payable | 3,000 | 4,000 |
Increase (decrease) in other accrued expenses | 59,000 | (8,000) |
Operating lease | (1,000) | 0 |
Net cash used in operating activities | (9,000) | (16,000) |
Cash flows from financing activities | ||
Acquistion of treasury stock | (45,000) | 0 |
Net cash used in financing activities | (45,000) | 0 |
Net decrease in cash and cash equivalents | (54,000) | (16,000) |
Cash and cash equivalents at beginning of period | 2,358,000 | 2,037,000 |
Cash and cash equivalents at end of period | 2,304,000 | 2,021,000 |
Noncash Investing and Financing Activities | ||
Retirement of treasury stock | $ 45,000 | $ 0 |
Note 1 Basis of Presentation
Note 1 Basis of Presentation | 3 Months Ended |
Dec. 31, 2022 | |
Notes | |
Note 1 Basis of Presentation | Note 1 - Basis of Presentation. |