Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2019 | May 10, 2019 | |
Details | ||
Registrant Name | ALTEX INDUSTRIES INC | |
Registrant CIK | 0000775057 | |
SEC Form | 10-Q | |
Period End date | Mar. 31, 2019 | |
Fiscal Year End | --09-30 | |
Trading Symbol | altx | |
Tax Identification Number (TIN) | 840989164 | |
Number of common stock shares outstanding | 12,262,376 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Small Business | true | |
Emerging Growth Company | false | |
Ex Transition Period | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Incorporation, State Country Name | Delaware | |
Entity Address, Address Line One | PO Box 1057 | |
Entity Address, City or Town | Breckenridge | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80424-1057 | |
City Area Code | (303) | |
Local Phone Number | 265-9312 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2019 | Sep. 30, 2018 |
Current assets | ||
Cash and cash equivalents | $ 2,270,000 | $ 2,274,000 |
Other | 1,000 | 0 |
Other | 8,000 | 18,000 |
Total current assets | 2,279,000 | 2,292,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 333,000 | 333,000 |
Less accumulated depreciation, depletion, and amortization | (242,000) | (236,000) |
Net property and equipment | 91,000 | 97,000 |
Total assets | 2,370,000 | 2,389,000 |
Current liabilities: | ||
Accounts payable | 9,000 | 11,000 |
Other accrued expenses | 1,076,000 | 1,080,000 |
Total current liabilities | 1,085,000 | 1,091,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 124,000 | 124,000 |
Additional paid-in capital | 13,809,000 | 13,809,000 |
Accumulated deficit | (12,643,000) | (12,635,000) |
Treasury Stock | (5,000) | 0 |
Total stockholders' equity | 1,285,000 | 1,298,000 |
Total liabilities and stockholders' equity | $ 2,370,000 | $ 2,389,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets - Parenthetical - $ / shares | Mar. 31, 2019 | Sep. 30, 2018 |
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 | 12,351,731 | 12,351,731 |
Common Stock, Shares, Outstanding | 12,282,376 | 12,351,731 |
Treasury Stock, Shares | 69,355 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue | ||||
Oil and gas sales | $ 9,000 | $ 27,000 | $ 31,000 | $ 39,000 |
Total revenue | 9,000 | 27,000 | 31,000 | 39,000 |
Costs and expenses | ||||
Production taxes | 1,000 | 3,000 | 3,000 | 3,000 |
General and administrative | 48,000 | 45,000 | 80,000 | 83,000 |
Depreciation, depletion, and amortization | 3,000 | 4,000 | 6,000 | 9,000 |
Total costs and expenses | 52,000 | 52,000 | 89,000 | 95,000 |
Loss from operations | (43,000) | (25,000) | (58,000) | (56,000) |
Other Nonoperating Income (Expense) | ||||
Interest income | 13,000 | 5,000 | 26,000 | 9,000 |
Interest income | 24,000 | 5,000 | 24,000 | 5,000 |
Total other income | 37,000 | 10,000 | 50,000 | 14,000 |
Net Loss | $ (6,000) | $ (15,000) | $ (8,000) | $ (42,000) |
Loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted-average shares outstanding | 12,342,713 | 12,555,131 | 12,347,272 | 12,564,279 |
Consolidate Statements of Stock
Consolidate Statements of Stockholders' Equity - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Sep. 30, 2018 | $ 124,000 | $ 13,809,000 | $ (12,635,000) | $ 0 | $ 1,298,000 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2018 | 12,351,731 | ||||
Net loss | (8,000) | (8,000) | |||
Treasury Stock, Value, Acquired, Cost Method | (5,000) | (5,000) | |||
Treasury Stock, Shares, Acquired | (69,355) | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2019 | $ 124,000 | 13,809,000 | (12,643,000) | (5,000) | 1,285,000 |
Shares, Outstanding, Ending Balance at Mar. 31, 2019 | 12,282,376 | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2018 | $ 124,000 | 13,809,000 | (12,637,000) | 0 | 1,296,000 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2018 | 12,351,731 | ||||
Net loss | (6,000) | (6,000) | |||
Treasury Stock, Value, Acquired, Cost Method | (5,000) | (5,000) | |||
Treasury Stock, Shares, Acquired | (69,355) | ||||
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2019 | $ 124,000 | $ 13,809,000 | $ (12,643,000) | $ (5,000) | $ 1,285,000 |
Shares, Outstanding, Ending Balance at Mar. 31, 2019 | 12,282,376 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows used in operating activities | ||
Net loss | $ (8,000) | $ (42,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 6,000 | 9,000 |
Increase in accounts receivable | (1,000) | (4,000) |
Decrease in other current assets | 10,000 | 10,000 |
Increase in accounts payable | (2,000) | 3,000 |
Decrease in other accrued expenses | (4,000) | (3,000) |
Net cash provided by (used in) operating activities | 1,000 | (27,000) |
Cash flows from financing activities | ||
Acquisition of treasury stock | (5,000) | (4,000) |
Net cash used in financing activities | (5,000) | (4,000) |
Net decrease in cash and cash equivalents | (4,000) | (31,000) |
Cash and cash equivalents at beginning of period | 2,274,000 | 2,349,000 |
Cash and cash equivalents at end of period | 2,270,000 | 2,318,000 |
Noncash investing and financing activities | ||
Retirement of property plant and equipment | 0 | 3,000 |
Supplemental disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Mar. 31, 2019 | |
Notes | |
Note 1 - Basis of Presentation | Note 1 - Basis of Presentation. |