Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 15, 2023 | Mar. 31, 2023 | |
Details | |||
Registrant CIK | 0000775057 | ||
Fiscal Year End | --09-30 | ||
Registrant Name | ALTEX INDUSTRIES INC | ||
SEC Form | 10-K | ||
Period End date | Sep. 30, 2023 | ||
Tax Identification Number (TIN) | 84-0989164 | ||
Number of common stock shares outstanding | 11,348,021 | ||
Public Float | $ 625,000 | ||
Filer Category | Non-accelerated Filer | ||
Current with reporting | Yes | ||
Interactive Data Current | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Shell Company | false | ||
Small Business | true | ||
Emerging Growth Company | false | ||
Document Financial Statement Error Correction | false | ||
Document Annual 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 | ||
Entity Address, Address Line Two | #273 | ||
Entity Address, City or Town | Denver | ||
Entity Address, State or Province | CO | ||
Entity Address, Postal Zip Code | 80206-4084 | ||
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 | 2023 | ||
Document Fiscal Period Focus | FY | ||
Auditor Name | M&K CPAS, PLLC | ||
Auditor Firm ID | 2738 | ||
Auditor Location | Houston, TX |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current assets | ||
Cash and cash equivalents | $ 2,232,000 | $ 2,358,000 |
Accounts receivable | 4,000 | 1,000 |
Other | 22,000 | 26,000 |
Total current assets | 2,258,000 | 2,385,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 326,000 | 327,000 |
Less accumulated depreciation, depletion, and amortization | (297,000) | (292,000) |
Net property and equipment | 29,000 | 35,000 |
Right-of-Use Asset | 47,000 | 71,000 |
Total assets | 2,334,000 | 2,491,000 |
Current liabilities: | ||
Accounts payable | 4,000 | 4,000 |
Operating lease liability | 27,000 | 25,000 |
Accrued expenses, related party | 1,140,000 | 1,073,000 |
Other accrued expenses | 11,000 | 11,000 |
Total current liabilities | 1,182,000 | 1,113,000 |
Long-term operating lease liability | 20,000 | 47,000 |
Total liabilities | 1,202,000 | 1,160,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 114,000 | 121,000 |
Additional paid-in capital | 13,715,000 | 13,776,000 |
Accumulated deficit | (12,697,000) | (12,566,000) |
Total stockholders' equity | 1,132,000 | 1,331,000 |
Total liabilities and stockholders' equity | $ 2,334,000 | $ 2,491,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets - Parenthetical - $ / shares | Sep. 30, 2023 | Sep. 30, 2022 |
Condensed Consolidated Balance Sheets | ||
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 | 11,348,021 | 12,011,401 |
Common Stock, Shares, Outstanding | 11,348,021 | 12,011,401 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | ||
Oil and gas sales | $ 32,000 | $ 36,000 |
Total revenue | 32,000 | 36,000 |
Operating expense | ||
Production taxes | 4,000 | 3,000 |
General and administrative | 263,000 | 179,000 |
Depreciation, depletion, amortization and valuation provision | 6,000 | 9,000 |
Total operating expense | 273,000 | 191,000 |
Other Nonoperating Income (Expense) | ||
Gain on sale of assets | 0 | 450,000 |
Interest income | 101,000 | 14,000 |
Other income | 9,000 | 4,000 |
Total other income | 110,000 | 468,000 |
Net income (loss) | $ (131,000) | $ 313,000 |
Basic and diluted income (loss) per share | $ (0.01) | $ 0.03 |
Basic and diluted weighted average shares outstanding | 11,549,403 | 12,011,401 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock, Common | Total |
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 income (loss) | 313,000 | $ 313,000 | |||
Treasury Stock, Shares, Retired | (663,380) | ||||
Equity, Attributable to Parent, Ending Balance at Sep. 30, 2022 | $ 121,000 | 13,776,000 | (12,566,000) | 0 | $ 1,331,000 |
Shares, Outstanding, Ending Balance at Sep. 30, 2022 | 12,011,401 | ||||
Net income (loss) | (131,000) | (131,000) | |||
Treasury Stock, Value, Acquired, Cost Method | (68,000) | (68,000) | |||
Treasury Stock, Retired, Cost Method, Amount | $ (7,000) | (61,000) | 68,000 | 0 | |
Treasury Stock, Shares, Retired | (663,380) | ||||
Equity, Attributable to Parent, Ending Balance at Sep. 30, 2023 | $ 114,000 | $ 13,715,000 | $ (12,697,000) | $ 0 | $ 1,132,000 |
Shares, Outstanding, Ending Balance at Sep. 30, 2023 | 11,348,021 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows used in operating activities | ||
Net income (loss) | $ (131,000) | $ 313,000 |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Gain on sale of assets | 0 | (450,000) |
Depreciation, depletion, amortization and valuation provision | 6,000 | 9,000 |
Decrease (increase) in accounts receivable | (3,000) | 2,000 |
Decrease (increase) in other assets | 4,000 | (5,000) |
Increase in accounts payable | 0 | 2,000 |
Increase in other accrued expenses | 67,000 | 0 |
Operating lease | (1,000) | |
Net cash used in operating activities | (58,000) | (129,000) |
Cash flows from investing activities | ||
Proceeds from sale of assets | 0 | 450,000 |
Net cash provided by investing activities | 0 | 450,000 |
Cash flows from financing activities | ||
Acquisition of treasury stock | (68,000) | 0 |
Net cash used in financing activities | (68,000) | 0 |
Net increase (decrease) in cash and cash equivalents | (126,000) | 321,000 |
Cash and cash equivalents at beginning of year | 2,358,000 | 2,037,000 |
Cash and cash equivalents at end of year | $ 2,232,000 | $ 2,358,000 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies. | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 1 - Nature of Operations and Summary of Significant Accounting Policies. | Note 1 - Nature of Operations and Summary of Significant Accounting Policies. Nature of operations: Principles of consolidation Estimates Property and equipment Impairment of long-lived assets Asset retirement obligations Earnings (loss) per share Fair value measurements Level 1 Level 2 Level 3 Cash Equivalents Income Taxes Concentrations of credit risk : Revenue recognition : Revenue from Contracts with Customers Extractive Activities – Oil and Gas Other Income Recent Accounting Pronouncements: In February 2016 the FASB issued ASU 2016-2, Leases (Topic 842), which requires lessees to recognize a lease liability and right-of-use asset for all leases, including operating leases, with a term greater than 12 months. The provisions of ASU 2016-2 also modify the definition of a lease and outline the requirements for recognition, measurement, presentation, and disclosure of leasing arrangements. ASU 2016-2 is effective for annual periods beginning after December 15, 2018. The Company adopted the provisions of ASU 2016-2 effective October 1, 2019. In December 2019 the FASB issued Accounting Standards Update 2019-12, Income Taxes (Topic 740). The amendments in this Update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this Update effective October 1, 2021. |
Note 2 - Income Tax Disclosure
Note 2 - Income Tax Disclosure | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 2 - Income Tax Disclosure | Note 2 - Income Taxes. Deferred Tax Assets 2023 2022 Depletion carryforward $ 181,000 181,000 Net operating loss carryforward 487,000 472,000 Accrued shareholder salary 228,000 215,000 Deletion and amortization 2,000 3,000 Total Net Deferred Tax Assets 898,000 871,000 Less valuation allowance (898,000) (871,000) Net Deferred Tax Asset $ - - A valuation allowance has been provided because of the uncertainty of future realization. Income tax expense is different from amounts computed by applying the statutory Federal income tax rate for the following reasons: 2023 2022 Tax expense (benefit) at 21% of net earnings (loss) $ (28,000) 66,000 Impact of rate change effective January 1, 2018 - - Change in valuation allowance for net deferred tax assets (28,000) (66,000) Income tax expense $ - - As of September 30, 2023, the Company has no unrecognized tax benefit as a result of uncertain tax positions. As of September 30, 2023, the Company’s tax years that remain subject to examination are 2020 - 2023 (Federal jurisdiction) and 2019 - 2023 (state jurisdictions). |
Note 3 - Related Party Transact
Note 3 - Related Party Transactions Disclosure | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 3 - Related Party Transactions Disclosure | Note 3 - Related Party Transactions. |
Note 4 - Major Customers
Note 4 - Major Customers | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 4 - Major Customers | Note 4 - Major Customers. |
Note 5 - Leases
Note 5 - Leases | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 5 - Leases | Note 5 - Leases. Future minimum lease payments as of September 30, 2024 28,000 2025 22,000 Total 50,000 |
Note 6 - Oil and Natural Gas Pr
Note 6 - Oil and Natural Gas Properties | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 6 - Oil and Natural Gas Properties | Note 6 - Oil and Natural Gas Properties. September 30, 2023 2022 Oil and natural gas properties Proved, developed properties $ 326,000 $ 327,000 Less: accumulated depreciation, depletion and impairment (297,000) (292,000) Total oil and natural gas properties $ 29,000 $ 35,000 As the Company does not own working interests, it is not liable for the cost of well abandonment or surface restoration, so no ARO liability was recorded at September 30, 2023 and 2022. In the year ended September 30, 2022, the Company realized a net gain of $450,000 from the sale of certain oil, gas, and mineral interests in Utah. As the Company had no basis in these assets, $450,000 was recorded as gain on sale of assets in the year ended September 30, 2022. |
Note 7 - Equity and treasury st
Note 7 - Equity and treasury stock transactions | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 7 - Equity and treasury stock transactions | Note 7 - Equity and treasury stock transactions. |
Note 8 - Other Income
Note 8 - Other Income | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 8 - Other Income | Note 8 – Other Income. |
Note 9 - Subsequent events
Note 9 - Subsequent events | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 9 - Subsequent events | Note 9 – Subsequent events. |
Note 10 - Supplemental Financia
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited) | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited) | Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited). I. Capitalized Costs. Capitalized Costs September 30, 2023 Proved properties $ 326,000 Accumulated depreciation, depletion, amortization and valuation allowance (297,000) Net capitalized cost $ 29,000 II. Estimated Quantities of Reserves Estimated Quantities of Reserves Oil in Barrels Balance at September 30, 2021 1,000 Revisions of previous estimates 600 Production (300) Balance at September 30, 2022 1,300 Revisions of previous estimates 700 Production (400) Balance at September 30, 2023 1,600 III. Standardized Measure of Discounted Cash Flows Standardized Measure of Discounted Cash Flows At September 30, 2023 2022 Estimated future revenue $ 105,000 $ 110,000 Estimated future expenditures (12,000) (13,000) Estimated future net revenue 93,000 97,000 10% annual discount of estimated future net revenue (27,000) (29,000) Present value of estimated future net revenue $ 66,000 $ 68,000 IV. Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Year ended September 30, 2023 2022 Present value of estimated future net revenue, beginning of year $ 68,000 $ 33,000 Sales, net of production costs (28,000) (33,000) Net change in prices and cost of future production (14,000) 24,000 Revisions of quantity estimates 33,000 42,000 Accretion of discount 7,000 4,000 Change in production rates and other - (2,000) Present value of estimated future net revenue, end of year $ 66,000 $ 68,000 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Nature of Operations (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Nature of Operations | Nature of operations: |
Note 1 - Nature of Operations_3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Principles of Consolidation (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Principles of Consolidation | Principles of consolidation |
Note 1 - Nature of Operations_4
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Estimates (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Estimates | Estimates |
Note 1 - Nature of Operations_5
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Property, Plant and Equipment, Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Property, Plant and Equipment, Policy | Property and equipment |
Note 1 - Nature of Operations_6
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Impairment or Disposal of Long-Lived Assets, Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Impairment or Disposal of Long-Lived Assets, Policy | Impairment of long-lived assets |
Note 1 - Nature of Operations_7
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Asset Retirement Obligations (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Asset Retirement Obligations | Asset retirement obligations |
Note 1 - Nature of Operations_8
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Earnings (Loss) Per Share Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Earnings (Loss) Per Share Policy | Earnings (loss) per share |
Note 1 - Nature of Operations_9
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Fair Value Measurements (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Fair Value Measurements | Fair value measurements Level 1 Level 2 Level 3 |
Note 1 - Nature of Operation_10
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Cash Equivalents, Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Cash Equivalents, Policy | Cash Equivalents |
Note 1 - Nature of Operation_11
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Regulatory Income Taxes, Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Regulatory Income Taxes, Policy | Income Taxes |
Note 1 - Nature of Operation_12
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Concentrations of Credit Risk Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Concentrations of Credit Risk Policy | Concentrations of credit risk : |
Note 1 - Nature of Operation_13
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Revenue Recognition Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Revenue Recognition Policy | Revenue recognition : Revenue from Contracts with Customers Extractive Activities – Oil and Gas Other Income |
Note 1 - Nature of Operation_14
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Recent Accounting Pronouncements: | Recent Accounting Pronouncements: In February 2016 the FASB issued ASU 2016-2, Leases (Topic 842), which requires lessees to recognize a lease liability and right-of-use asset for all leases, including operating leases, with a term greater than 12 months. The provisions of ASU 2016-2 also modify the definition of a lease and outline the requirements for recognition, measurement, presentation, and disclosure of leasing arrangements. ASU 2016-2 is effective for annual periods beginning after December 15, 2018. The Company adopted the provisions of ASU 2016-2 effective October 1, 2019. In December 2019 the FASB issued Accounting Standards Update 2019-12, Income Taxes (Topic 740). The amendments in this Update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this Update effective October 1, 2021. |
Note 2 - Income Tax Disclosure_
Note 2 - Income Tax Disclosure: Schedule of Deferred Tax Assets (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets | Deferred Tax Assets 2023 2022 Depletion carryforward $ 181,000 181,000 Net operating loss carryforward 487,000 472,000 Accrued shareholder salary 228,000 215,000 Deletion and amortization 2,000 3,000 Total Net Deferred Tax Assets 898,000 871,000 Less valuation allowance (898,000) (871,000) Net Deferred Tax Asset $ - - |
Note 2 - Income Tax Disclosur_2
Note 2 - Income Tax Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 2023 2022 Tax expense (benefit) at 21% of net earnings (loss) $ (28,000) 66,000 Impact of rate change effective January 1, 2018 - - Change in valuation allowance for net deferred tax assets (28,000) (66,000) Income tax expense $ - - |
Note 5 - Leases_ Schedule of Fu
Note 5 - Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease payments as of September 30, 2024 28,000 2025 22,000 Total 50,000 |
Note 6 - Oil and Natural Gas _2
Note 6 - Oil and Natural Gas Properties: Schedule of Oil and Natural Gas Properties (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Oil and Natural Gas Properties | September 30, 2023 2022 Oil and natural gas properties Proved, developed properties $ 326,000 $ 327,000 Less: accumulated depreciation, depletion and impairment (297,000) (292,000) Total oil and natural gas properties $ 29,000 $ 35,000 |
Note 10 - Supplemental Financ_2
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure | Capitalized Costs September 30, 2023 Proved properties $ 326,000 Accumulated depreciation, depletion, amortization and valuation allowance (297,000) Net capitalized cost $ 29,000 |
Note 10 - Supplemental Financ_3
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities | Estimated Quantities of Reserves Oil in Barrels Balance at September 30, 2021 1,000 Revisions of previous estimates 600 Production (300) Balance at September 30, 2022 1,300 Revisions of previous estimates 700 Production (400) Balance at September 30, 2023 1,600 |
Note 10 - Supplemental Financ_4
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Standardized Measure of Discounted Cash Flows (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Standardized Measure of Discounted Cash Flows | Standardized Measure of Discounted Cash Flows At September 30, 2023 2022 Estimated future revenue $ 105,000 $ 110,000 Estimated future expenditures (12,000) (13,000) Estimated future net revenue 93,000 97,000 10% annual discount of estimated future net revenue (27,000) (29,000) Present value of estimated future net revenue $ 66,000 $ 68,000 |
Note 10 - Supplemental Financ_5
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Summary of Changes Present Value of Estimated Future Net Revenue (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Summary of Changes Present Value of Estimated Future Net Revenue | Summary of Changes in Standardized Measure of Discounted Future Net Cash Flows Year ended September 30, 2023 2022 Present value of estimated future net revenue, beginning of year $ 68,000 $ 33,000 Sales, net of production costs (28,000) (33,000) Net change in prices and cost of future production (14,000) 24,000 Revisions of quantity estimates 33,000 42,000 Accretion of discount 7,000 4,000 Change in production rates and other - (2,000) Present value of estimated future net revenue, end of year $ 66,000 $ 68,000 |
Note 2 - Income Tax Disclosure
Note 2 - Income Tax Disclosure (Details) | 12 Months Ended |
Sep. 30, 2023 USD ($) | |
Details | |
Depletion | $ 860,000 |
Operating Loss Carryforwards | $ 2,318,000 |
Note 2 - Income Tax Disclosur_3
Note 2 - Income Tax Disclosure: Schedule of Deferred Tax Assets (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Details | ||
Deferred Tax Assets - Depletion Carryforward | $ 181,000 | $ 181,000 |
Deferred Tax Assets, Operating Loss Carryforwards | 487,000 | 472,000 |
Deferred Tax Assets - Accrued Shareholder Salary | 228,000 | 215,000 |
Deferred Tax Assets - Deletion and Amortizations | 2,000 | 3,000 |
Deferred Tax Assets, Gross | 898,000 | 871,000 |
Deferred Tax Assets, Valuation Allowance | (898,000) | (871,000) |
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | $ 0 |
Note 2 - Income Tax Disclosur_4
Note 2 - Income Tax Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ (28,000) | $ 66,000 |
Impact of rate change effective January 1, 2018 | 0 | 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (28,000) | (66,000) |
Income Tax Expense (Benefit) | $ 0 | $ 0 |
Note 3 - Related Party Transa_2
Note 3 - Related Party Transactions Disclosure (Details) | Sep. 30, 2023 USD ($) |
Details | |
Accrued Salaries, Current | $ 1,087,000 |
Accrued Payroll Taxes, Current | $ 53,000 |
Note 4 - Major Customers (Detai
Note 4 - Major Customers (Details) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Concentration Risk, Additional Characteristic | the Company had one customer who accounted for 83% of the Company's oil and gas sales | the Company had four customers who individually accounted for 10% or more of the Company's oil and gas sales and who, in aggregate, accounted for 93% of oil and gas sales |
Concentration Risk, Other Risk | the four customers individually accounted for 48%, 17%, 17%, and 11% of oil and gas sales |
Note 5 - Leases (Details)
Note 5 - Leases (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2020 | |
Details | |||
Termination Fee | $ 4,000 | ||
Operating Lease, Cost | 30,000 | $ 28,000 | |
Right-of-Use Asset | $ 47,000 | $ 71,000 | $ 118,000 |
Note 5 - Leases_ Schedule of _2
Note 5 - Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Details) | Sep. 30, 2023 USD ($) |
Details | |
2024 | $ 28,000 |
2025 | 22,000 |
Operating Lease, Liability | $ 50,000 |
Note 6 - Oil and Natural Gas _3
Note 6 - Oil and Natural Gas Properties: Schedule of Oil and Natural Gas Properties (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Details | ||
Proved, developed properties | $ 326,000 | $ 327,000 |
Less: accumulated depreciation, depletion and impairment | (297,000) | (292,000) |
Capitalized Costs, Oil and Gas Producing Activities, Net | $ 29,000 | $ 35,000 |
Note 6 - Oil and Natural Gas _4
Note 6 - Oil and Natural Gas Properties (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Gain (Loss) on Disposition of Assets for Financial Service Operations | $ 0 | $ 450,000 |
Note 7 - Equity and treasury _2
Note 7 - Equity and treasury stock transactions (Details) | 12 Months Ended |
Sep. 30, 2022 shares | |
Details | |
Treasury Stock, Shares, Retired | 663,380 |
Note 8 - Other Income (Details)
Note 8 - Other Income (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Other income | $ 9,000 | $ 4,000 |
Note 10 - Supplemental Financ_6
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Details | ||
Proved, developed properties | $ 326,000 | $ 327,000 |
Less: accumulated depreciation, depletion and impairment | (297,000) | (292,000) |
Capitalized Costs, Oil and Gas Producing Activities, Net | $ 29,000 | $ 35,000 |
Note 10 - Supplemental Financ_7
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Details) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2020 |
Details | |||
Net Proved Developed And Undeveloped Reserves | 1,600 | 1,300 | 1,000 |
Proved Developed And Undeveloped Reserves, Revisions of previous estimates | 700 | 600 | |
Proved Developed And Undeveloped Reserve, Production | (400) | (300) |
Note 10 - Supplemental Financ_8
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Standardized Measure of Discounted Cash Flows (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Details | ||
Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Cash Inflows | $ 105,000 | $ 110,000 |
Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Production Costs | (12,000) | (13,000) |
Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Net Cash Flows | 93,000 | 97,000 |
Future Net Cash Flows Relating to Proved Oil and Gas Reserves, 10 Percent Annual Discount for Estimated Timing of Cash Flows | (27,000) | (29,000) |
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves | $ 66,000 | $ 68,000 |
Note 10 - Supplemental Financ_9
Note 10 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited): Summary of Changes Present Value of Estimated Future Net Revenue (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Present value of estimated future net revenue, beginning of year | $ 68,000 | $ 33,000 |
Sales and Transfers of Oil and Gas Produced, Net of Production Costs | (28,000) | (33,000) |
Net Increase (Decrease) in Sales and Transfer Prices and Production Costs | (14,000) | 24,000 |
Revisions of quantity estimates | 33,000 | 42,000 |
Accretion Expense | 7,000 | 4,000 |
Standardized Measure of Discounted Future Net Cash Flow of Proved Oil and Gas Reserves, Other | 0 | (2,000) |
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves | $ 66,000 | $ 68,000 |