Altex Industries (ALTX) 10-Q31 Jan 252025 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Dec. 31, 2024	Jan. 31, 2025
Details
Registrant CIK	0000775057
Fiscal Year End	--09-30
Registrant Name	ALTEX INDUSTRIES INC
SEC Form	10-Q
Period End date	Dec. 31, 2024
Tax Identification Number (TIN)	84-0989164
Number of common stock shares outstanding		11,229,520
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
Securities Act 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	2025
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Sep. 30, 2024
Current assets
Cash and cash equivalents	$ 2,628,000	$ 2,656,000
Accounts receivable	3,000	3,000
Other	14,000	21,000
Total current assets	2,645,000	2,680,000
Property and equipment, at cost
Proved oil and gas properties (successful efforts method)	311,000	311,000
Less accumulated depreciation, depletion, and amortization	(286,000)	(285,000)
Net property and equipment	25,000	26,000
Right-of-Use Asset	14,000	20,000
Total assets	2,684,000	2,726,000
Current liabilities:
Accounts payable	2,000	5,000
Operating lease liability	14,000	21,000
Accrued expenses, related party	1,235,000	1,141,000
Other accrued expenses	3,000	13,000
Total current liabilities	1,254,000	1,180,000
Long-term operating lease liability	0	0
Total Liabilities	1,254,000	1,180,000
Commitments and Contingencies	0	0
Stockholders' equity:
Preferred stock	0	0
Common stock	113,000	113,000
Additional paid-in capital	13,693,000	13,693,000
Accumulated deficit	(12,376,000)	(12,260,000)
Total stockholders' equity	1,430,000	1,546,000
Total liabilities and stockholders' equity	$ 2,684,000	$ 2,726,000

Condensed Consolidated Balance Sheets - Parenthetical - $ / shares	Dec. 31, 2024	Sep. 30, 2024
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	11,229,520	11,229,520
Common Stock, Shares, Outstanding	11,229,520	11,229,520

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
Condensed Consolidated Statements of Operations - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Revenue
Oil and gas sales	$ 5,000	$ 6,000
Total revenue	5,000	6,000
Operating expense
Production taxes	0	1,000
General and administrative	150,000	50,000
Depreciation, depletion, and amortization	1,000	1,000
Total operating expense	151,000	52,000
Other Nonoperating Income (Expense)
Interest income	30,000	30,000
Other income	0	0
Total other income	30,000	30,000
Net loss	$ (116,000)	$ (16,000)
Basic and diluted loss per share	$ (0.01)	$ 0
Basic and diluted weighted average shares outstanding	11,229,520	11,348,021

Condensed Consolidated Statements of Stockholders' Equity - 3 months ended Dec. 31, 2024 - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock, Common
Equity, Attributable to Parent, Beginning Balance at Sep. 30, 2024	$ 1,546,000	$ 113,000	$ 13,693,000	$ (12,260,000)	$ 1,546,000
Shares, Outstanding, Beginning Balance at Sep. 30, 2024		11,229,520
Net loss	(116,000)			(116,000)	(116,000)
Equity, Attributable to Parent, Ending Balance at Dec. 31, 2024	$ 1,430,000	$ 113,000	$ 13,693,000	$ (12,376,000)	$ 1,430,000
Shares, Outstanding, Ending Balance at Dec. 31, 2024		11,229,520

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
Condensed Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Cash flows used in operating activities
Net loss	$ (116,000)	$ (16,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation, depletion, and amortization	1,000	1,000
Changes in assets and liabilities
Decrease (increase) in accounts receivable	0	2,000
Decrease in other current assets	7,000	7,000
Increase (decrease) in accounts payable	(3,000)	(3,000)
Increase (decrease) in other accrued expenses	84,000	(4,000)
Operating lease	(1,000)	0
Net cash used in operating activities	(28,000)	(13,000)
Cash flows from investing activities
Net cash provided by investing activities	0	0
Cash flows from financing activities
Net cash used in financing activities	0	0
Net decrease in cash and cash equivalents	(28,000)	(13,000)
Cash and cash equivalents at beginning of period	2,656,000	2,232,000
Cash and cash equivalents at end of period	$ 2,628,000	$ 2,219,000