Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2022 | May 06, 2022 | |
Details | ||
Registrant CIK | 0000775057 | |
Fiscal Year End | --09-30 | |
Registrant Name | ALTEX INDUSTRIES INC | |
SEC Form | 10-Q | |
Period End date | Mar. 31, 2022 | |
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 | |
City Area Code | 303 | |
Local Phone Number | 265-9312 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 |
Current assets | ||
Cash and cash equivalents | $ 2,438,000 | $ 2,037,000 |
Accounts receivable | 2,000 | 3,000 |
Other | 9,000 | 21,000 |
Total current assets | 2,449,000 | 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 | (293,000) | (290,000) |
Net property and equipment | 40,000 | 43,000 |
Right-of-Use Asset | 83,000 | 95,000 |
Total assets | 2,572,000 | 2,199,000 |
Current liabilities | ||
Accounts payable | 2,000 | 2,000 |
Operating lease liability | 24,000 | 23,000 |
Accrued expenses, related party | 1,073,000 | 1,073,000 |
Other accrued expenses | 6,000 | 11,000 |
Total current liabilities | 1,105,000 | 1,109,000 |
Long-term operating lease liability | 59,000 | 72,000 |
Total Liabilities | 1,164,000 | 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 | (12,489,000) | (12,879,000) |
Total stockholders' equity | 1,408,000 | 1,018,000 |
Total liabilities and stockholders' equity | $ 2,572,000 | $ 2,199,000 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Mar. 31, 2022 | 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 | 6 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue | ||||
Oil and gas sales | $ 5,000 | $ 3,000 | $ 26,000 | $ 11,000 |
Total revenue | 5,000 | 3,000 | 26,000 | 11,000 |
Operating expense | ||||
Production taxes | 1,000 | 1,000 | 2,000 | 1,000 |
General and administrative | 53,000 | 50,000 | 85,000 | 84,000 |
Depreciation, depletion, and amortization | 1,000 | 2,000 | 3,000 | 4,000 |
Total operating expense | 55,000 | 53,000 | 90,000 | 89,000 |
Other Nonoperating Income (Expense) | ||||
Gain on sale of assets | 450,000 | 0 | 450,000 | 0 |
Other income | 4,000 | 1,000 | 4,000 | 1,000 |
Total other income | 454,000 | 1,000 | 454,000 | 1,000 |
Net earnings (loss) | $ 404,000 | $ (49,000) | $ 390,000 | $ (77,000) |
Basic and diluted earnings (loss) per share | $ 0.03 | $ 0 | $ 0.03 | $ (0.01) |
Basic and diluted weighted average shares outstanding | 12,011,401 | 12,141,401 | 12,011,401 | 12,141,401 |
Consolidated Statements of Stoc
Consolidated 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, 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 earnings (loss) | 390,000 | 390,000 | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2022 | $ 121,000 | 13,776,000 | (12,489,000) | 0 | 1,408,000 |
Shares, Outstanding, Ending Balance at Mar. 31, 2022 | 12,011,401 | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2021 | $ 121,000 | 13,776,000 | (12,893,000) | 0 | 1,004,000 |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 12,011,401 | ||||
Net earnings (loss) | 404,000 | 404,000 | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2022 | $ 121,000 | $ 13,776,000 | $ (12,489,000) | $ 0 | $ 1,408,000 |
Shares, Outstanding, Ending Balance at Mar. 31, 2022 | 12,011,401 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows used in operating activities | ||
Net earnings (loss) | $ 390,000 | $ (77,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Gain on sale of assets | (450,000) | 0 |
Depreciation, depletion, and amortization | 3,000 | 4,000 |
Changes in assets and liabilities | ||
(Increase) decrease in accounts receivable | 1,000 | (1,000) |
Decrease in other current assets | 12,000 | 13,000 |
Decrease in accounts payable | 0 | (8,000) |
Decrease in other accrued expenses | (5,000) | (5,000) |
Net cash used in operating activities | (49,000) | (74,000) |
Cash flows from investing activities | ||
Proceeds from sale of assets | 450,000 | 0 |
Net cash provided by investing activities | 450,000 | |
Cash flows from financing activities | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 401,000 | (74,000) |
Cash and cash equivalents at beginning of period | 2,037,000 | 2,141,000 |
Cash and cash equivalents at end of period | $ 2,438,000 | $ 2,067,000 |
Note 1 Basis of Presentation
Note 1 Basis of Presentation | 6 Months Ended |
Mar. 31, 2022 | |
Notes | |
Note 1 Basis of Presentation | Note 1 - Basis of Presentation. |
Note 2 Subsequent Event
Note 2 Subsequent Event | 6 Months Ended |
Mar. 31, 2022 | |
Notes | |
Note 2 Subsequent Event | Note 2 – |
Uncategorized Items - altx-2022
Label | Element | Value |
Additional Paid-in Capital | ||
Total stockholders' equity | us-gaap_StockholdersEquity | $ 13,776,000 |
Retained Earnings | ||
Total stockholders' equity | us-gaap_StockholdersEquity | $ (12,489,000) |
Common Stock | ||
Shares, Outstanding, Beginning Balance | us-gaap_SharesOutstanding | 12,011,401 |
Total stockholders' equity | us-gaap_StockholdersEquity | $ 121,000 |
Treasury Stock | ||
Total stockholders' equity | us-gaap_StockholdersEquity | $ 0 |