Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2021 | Jan. 28, 2022 | |
Details | ||
Registrant CIK | 0000775057 | |
Fiscal Year End | --09-30 | |
Registrant Name | ALTEX INDUSTRIES INC | |
SEC Form | 10-Q | |
Period End date | Dec. 31, 2021 | |
Tax Identification Number (TIN) | 84-0989164 | |
Number of common stock shares outstanding | 12,011,401 | |
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 | |
Entity Address, Address Description | Address of principal executive offices | |
City Area Code | 303 | |
Local Phone Number | 265-9312 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Current assets | ||
Cash and cash equivalents | $ 2,021,000 | $ 2,037,000 |
Accounts receivable | 7,000 | 3,000 |
Other | 17,000 | 21,000 |
Total current assets | 2,045,000 | 2,061,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 333,000 | 333,000 |
Less accumulated depreciation, depletion, and amortization | (292,000) | (290,000) |
Net property and equipment | 41,000 | 43,000 |
Right-of-Use Asset | 89,000 | 95,000 |
Total assets | 2,175,000 | 2,199,000 |
Current liabilities | ||
Accounts payable | 6,000 | 2,000 |
Operating lease liability | 23,000 | 23,000 |
Accrued expenses, related party | 1,073,000 | 1,073,000 |
Other accrued expenses | 3,000 | 11,000 |
Total current liabilities | 1,105,000 | 1,109,000 |
Long-term operating lease liability | 66,000 | 72,000 |
Total Liabilities | 1,171,000 | 1,181,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity | ||
Preferred stock, $.01 par value. Authorized 5,000,000 shares, none issued | 0 | 0 |
Common stock, $.01 par value. Authorized 50,000,000 shares; 12,011,401 shares issued and outstanding | 121,000 | 121,000 |
Additional paid-in capital | 13,776,000 | 13,776,000 |
Accumulated deficit | (12,893,000) | (12,879,000) |
Total stockholders' equity | 1,004,000 | 1,018,000 |
Total liabilities and stockholders' equity | $ 2,175,000 | $ 2,199,000 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Dec. 31, 2021 | Sep. 30, 2021 |
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 | 12,011,401 | 12,011,401 |
Common Stock, Shares, Outstanding | 12,011,401 | 12,011,401 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | ||
Oil and gas sales | $ 21,000 | $ 8,000 |
Total revenue | 21,000 | 8,000 |
Operating expense | ||
Production taxes | 1,000 | 0 |
General and administrative | 32,000 | 34,000 |
Depreciation, depletion, and amortization | 2,000 | 2,000 |
Total operating expense | 35,000 | 36,000 |
Net loss | $ (14,000) | $ (28,000) |
Basic and diluted loss per share | $ 0 | $ 0 |
Basic and diluted weighted average shares outstanding | 12,011,401 | 12,141,401 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - 3 months ended Dec. 31, 2021 - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Sep. 30, 2021 | $ 121,000 | $ 13,776,000 | $ (12,879,000) | $ 0 | $ 1,018,000 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2021 | 12,011,401 | ||||
Net loss | (14,000) | (14,000) | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2021 | $ 121,000 | $ 13,776,000 | $ (12,893,000) | $ 0 | $ 1,004,000 |
Shares, Outstanding, Ending Balance at Dec. 31, 2021 | 12,011,401 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows used in operating activities | ||
Net loss | $ (14,000) | $ (28,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 2,000 | 2,000 |
Changes in assets and liabilitites | ||
Increase in accounts receivable | (4,000) | (2,000) |
Decrease in other current assets | 4,000 | 3,000 |
Increase (decrease) in accounts payable | 4,000 | (3,000) |
Decrease in other accrued expenses | (8,000) | (6,000) |
Net cash used in operating activities | (16,000) | (34,000) |
Cash flows from investing activitites | 0 | 0 |
Cash flows from financing activities | 0 | 0 |
Net decrease in cash and cash equivalents | (16,000) | (34,000) |
Cash and cash equivalents at beginning of period | 2,037,000 | 2,141,000 |
Cash and cash equivalents at end of period | $ 2,021,000 | $ 2,107,000 |
Note 1 Basis of Presentation
Note 1 Basis of Presentation | 3 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 1 Basis of Presentation | Note 1 - Basis of Presentation. |
Note 2 Subsequent Event
Note 2 Subsequent Event | 3 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 2 Subsequent Event | Note 2 – Subsequent Event. |