Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2023 | Feb. 02, 2024 | |
Details | ||
Registrant CIK | 0000775057 | |
Fiscal Year End | --09-30 | |
Registrant Name | ALTEX INDUSTRIES INC | |
SEC Form | 10-Q | |
Period End date | Dec. 31, 2023 | |
Tax Identification Number (TIN) | 84-0989164 | |
Number of common stock shares outstanding | 11,348,021 | |
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 | 2024 | |
Document Fiscal Period Focus | Q1 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Sep. 30, 2023 |
Current assets | ||
Cash and cash equivalents | $ 2,219,000 | $ 2,232,000 |
Accounts receivable | 2,000 | 4,000 |
Other | 15,000 | 22,000 |
Total current assets | 2,236,000 | 2,258,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 326,000 | 326,000 |
Less accumulated depreciation, depletion, and amortization | (298,000) | (297,000) |
Net property and equipment | 28,000 | 29,000 |
Right-of-Use Asset | 40,000 | 47,000 |
Total assets | 2,304,000 | 2,334,000 |
Current liabilities: | ||
Accounts payable | 1,000 | 4,000 |
Operating lease liability | 27,000 | 27,000 |
Accrued expenses, related party | 1,140,000 | 1,140,000 |
Other accrued expenses | 7,000 | 11,000 |
Total current liabilities | 1,175,000 | 1,182,000 |
Long-term operating lease liability | 13,000 | 20,000 |
Total Liabilities | 1,188,000 | 1,202,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 114,000 | 114,000 |
Additional paid-in capital | 13,715,000 | 13,715,000 |
Accumulated deficit | (12,713,000) | (12,697,000) |
Total stockholders' equity | 1,116,000 | 1,132,000 |
Total liabilities and stockholders' equity | $ 2,304,000 | $ 2,334,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets - Parenthetical - $ / shares | Dec. 31, 2023 | Sep. 30, 2023 |
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 | 11,348,021 |
Common Stock, Shares, Outstanding | 11,348,021 | 11,348,021 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | ||
Oil and gas sales | $ 6,000 | $ 13,000 |
Total revenue | 6,000 | 13,000 |
Operating expense | ||
Production taxes | 1,000 | 1,000 |
General and administrative | 50,000 | 113,000 |
Depreciation, depletion, and amortization | 1,000 | 2,000 |
Total operating expense | 52,000 | 116,000 |
Other Nonoperating Income (Expense) | ||
Interest income | 30,000 | 19,000 |
Other income | 0 | 8,000 |
Total other income | 30,000 | 27,000 |
Net loss | $ (16,000) | $ (76,000) |
Basic and diluted loss per share | $ 0 | $ (0.01) |
Basic and diluted weighted average shares outstanding | 11,348,021 | 11,517,426 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - 3 months ended Dec. 31, 2023 - USD ($) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock, Common |
Equity, Attributable to Parent, Beginning Balance at Sep. 30, 2023 | $ 1,132,000 | $ 114,000 | $ 13,715,000 | $ (12,697,000) | $ 1,132,000 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2023 | 11,348,021 | ||||
Net loss | (16,000) | (16,000) | (16,000) | ||
Equity, Attributable to Parent, Ending Balance at Dec. 31, 2023 | $ 1,116,000 | $ 114,000 | $ 13,715,000 | $ (12,713,000) | $ 1,116,000 |
Shares, Outstanding, Ending Balance at Dec. 31, 2023 | 11,348,021 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows used in operating activities | ||
Net loss | $ (16,000) | $ (76,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 1,000 | 2,000 |
Changes in assets and liabilities | ||
Decrease (increase) in accounts receivable | 2,000 | (4,000) |
Decrease in other current assets | 7,000 | 8,000 |
Increase (decrease) in accounts payable | (3,000) | 3,000 |
Increase (decrease) in other accrued expenses | (4,000) | 59,000 |
Operating lease | 0 | (1,000) |
Net cash used in operating activities | (13,000) | (9,000) |
Cash flows from investing activities | 0 | 0 |
Cash flows from financing activities | ||
Acquisition of treasury stock | 0 | (45,000) |
Net cash used in financing activities | 0 | (45,000) |
Net decrease in cash and cash equivalents | (13,000) | (54,000) |
Cash and cash equivalents at beginning of period | 2,232,000 | 2,358,000 |
Cash and cash equivalents at end of period | 2,219,000 | 2,304,000 |
Noncash Investing and Financing Activities | ||
Retirement of treasury stock | $ 0 | $ 45,000 |
Note 1 Basis of Presentation
Note 1 Basis of Presentation | 3 Months Ended |
Dec. 31, 2023 | |
Notes | |
Note 1 Basis of Presentation | Note 1 - Basis of Presentation. |