Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2020 | Jul. 31, 2020 | |
Details | ||
Registrant CIK | 0000775057 | |
Fiscal Year End | --09-30 | |
Registrant Name | ALTEX INDUSTRIES INC | |
SEC Form | 10-Q | |
Period End date | Jun. 30, 2020 | |
Tax Identification Number (TIN) | 84-0989164 | |
Number of common stock shares outstanding | 12,185,409 | |
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 | PO Box 1057 | |
Entity Address, City or Town | Breckenridge | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80424-1057 | |
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 | 2020 | |
Document Fiscal Period Focus | Q3 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2020 | Sep. 30, 2019 |
Current assets | ||
Cash and cash equivalents | $ 2,181,000 | $ 2,266,000 |
Other | 26,000 | 20,000 |
Total current assets | 2,207,000 | 2,286,000 |
Property and equipment, at cost | ||
Proved oil and gas properties (successful efforts method) | 333,000 | 333,000 |
Less accumulated depreciation, depletion, and amortization | (281,000) | (275,000) |
Net property and equipment | 52,000 | 58,000 |
Total assets | 2,259,000 | 2,344,000 |
Current liabilities: | ||
Accounts payable | 1,000 | 10,000 |
Other accrued expenses | 1,080,000 | 1,081,000 |
Total current liabilities | 1,081,000 | 1,091,000 |
Commitments and Contingencies | 0 | 0 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 122,000 | 122,000 |
Additional paid-in capital | 13,798,000 | 13,798,000 |
Accumulated deficit | (12,742,000) | (12,667,000) |
Total stockholders' equity | 1,178,000 | 1,253,000 |
Total liabilities and stockholders' equity | $ 2,259,000 | $ 2,344,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets - Parenthetical - $ / shares | Jun. 30, 2020 | Sep. 30, 2019 |
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 | 12,185,409 | 12,185,409 |
Common Stock, Shares, Outstanding | 12,185,409 | 12,185,409 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue | ||||
Oil and gas sales | $ 4,000 | $ 12,000 | $ 28,000 | $ 43,000 |
Total revenue | 4,000 | 12,000 | 28,000 | 43,000 |
Costs and expenses | ||||
Production taxes | 1,000 | 0 | 2,000 | 3,000 |
General and administrative | 34,000 | 35,000 | 113,000 | 115,000 |
Depreciation, depletion, and amortization | 2,000 | 3,000 | 6,000 | 9,000 |
Total costs and expenses | 37,000 | 38,000 | 121,000 | 127,000 |
Loss from operations | (33,000) | (26,000) | (93,000) | (84,000) |
Other Nonoperating Income (Expense) | ||||
Interest income | 1,000 | 12,000 | 17,000 | 38,000 |
Other income | 1,000 | 41,000 | 1,000 | 65,000 |
Total other income | 2,000 | 53,000 | 18,000 | 103,000 |
Net income (loss) | $ (31,000) | $ 27,000 | $ (75,000) | $ 19,000 |
Gain (loss) per share | $ 0 | $ 0 | $ (0.01) | $ 0 |
Weighted-average shares outstanding | 12,185,409 | 12,262,596 | 12,185,409 | 12,318,973 |
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, 2019 | $ 122,000 | $ 13,798,000 | $ (12,667,000) | $ 0 | $ 1,253,000 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2019 | 12,185,409 | ||||
Net income (loss) | (75,000) | (75,000) | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2020 | $ 122,000 | 13,798,000 | (12,742,000) | 0 | 1,178,000 |
Shares, Outstanding, Ending Balance at Jun. 30, 2020 | 12,185,409 | ||||
Stockholders' Equity Attributable to Parent, Beginning Balance at Mar. 31, 2020 | $ 122,000 | 13,798,000 | (12,711,000) | 0 | 1,209,000 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2020 | 12,185,409 | ||||
Net income (loss) | (31,000) | (31,000) | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2020 | $ 122,000 | $ 13,798,000 | $ (12,742,000) | $ 0 | $ 1,178,000 |
Shares, Outstanding, Ending Balance at Jun. 30, 2020 | 12,185,409 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows provided by (used in) operating activities | ||
Net income (loss) | $ (75,000) | $ 19,000 |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation, depletion, and amortization | 6,000 | 9,000 |
Increase in accounts receivable | 0 | (2,000) |
Increase in other current assets | (6,000) | (6,000) |
Decrease in accounts payable | (9,000) | (7,000) |
Decrease in other accrued expenses | (1,000) | 0 |
Net cash provided by (used in) operating activities | (85,000) | 13,000 |
Cash flows from financing activities | ||
Acquisition of treasury stock | 0 | (7,000) |
Net cash used in financing activities | 0 | (7,000) |
Net increase (decrease) in cash and cash equivalents | (85,000) | 6,000 |
Cash and cash equivalents at beginning of period | 2,266,000 | 2,274,000 |
Cash and cash equivalents at end of period | 2,181,000 | 2,280,000 |
Supplemental disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
Note 1 Basis of Presentation
Note 1 Basis of Presentation | 9 Months Ended |
Jun. 30, 2020 | |
Notes | |
Note 1 Basis of Presentation | Note 1 - Basis of Presentation. |