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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/09/19 Altex Industries Inc 10-Q 6/30/19 19:741K Southridge Svcs Inc/FA |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 129K 2: EX-31 Rule 13A-14(A)/15D-14(A) Certifications HTML 14K 3: EX-32 Section 1350 Certifications HTML 10K 10: R1 Document and Entity Information HTML 57K 11: R2 Condensed Consolidated Balance Sheets HTML 72K 12: R3 Condensed Consolidated Balance Sheets - HTML 29K Parenthetical 13: R4 Condensed Consolidated Statements of Operations HTML 47K 14: R5 Consolidate Statements of Stockholders' Equity HTML 29K 15: R6 Condensed Consolidated Statements of Cash Flows HTML 56K 16: R7 Note 1 - Basis of Presentation HTML 14K 18: XML IDEA XML File -- Filing Summary XML 24K 17: EXCEL IDEA Workbook of Financial Reports XLSX 12K 4: EX-101.INS XBRL Instance -- altx-20190630 XML 112K 6: EX-101.CAL XBRL Calculations -- altx-20190630_cal XML 53K 7: EX-101.DEF XBRL Definitions -- altx-20190630_def XML 30K 8: EX-101.LAB XBRL Labels -- altx-20190630_lab XML 204K 9: EX-101.PRE XBRL Presentations -- altx-20190630_pre XML 146K 5: EX-101.SCH XBRL Schema -- altx-20190630 XSD 20K 19: ZIP XBRL Zipped Folder -- 0001096906-19-000280-xbrl Zip 18K
ALTEX INDUSTRIES, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
84-0989164
|
(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices) (Zip Code)
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(303) 265-9312
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(Registrant's telephone number, including area code)
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ]
|
Smaller reporting company [ X ]
|
Emerging growth company [ ]
|
Item 1. Financial Statements
|
||||||||
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||
Condensed Consolidated Balance Sheets
|
||||||||
(Unaudited)
|
||||||||
June 30
|
September 30
|
|||||||
2019
|
2018
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
2,280,000
|
$
|
2,274,000
|
||||
Accounts receivable
|
2,000
|
-
|
||||||
Other
|
24,000
|
18,000
|
||||||
Total current assets
|
2,306,000
|
2,292,000
|
||||||
Property and equipment, at cost
|
||||||||
Proved oil and gas properties (successful efforts method)
|
333,000
|
333,000
|
||||||
Less accumulated depreciation, depletion, and amortization
|
(245,000
|
)
|
(236,000
|
)
|
||||
Net property and equipment
|
88,000
|
97,000
|
||||||
Total assets
|
2,394,000
|
2,389,000
|
||||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
4,000
|
11,000
|
||||||
Other accrued expenses
|
1,080,000
|
1,080,000
|
||||||
Total current liabilities
|
1,084,000
|
1,091,000
|
||||||
Commitments and Contingencies
|
-
|
-
|
||||||
Stockholders’ equity
|
||||||||
Preferred stock, $.01 par value. Authorized 5,000,000 shares, none issued
|
-
|
-
|
||||||
Common stock, $.01 par value. Authorized 50,000,000 shares; 12,351,731 shares issued; 12,262,376 and 12,351,731 shares outstanding in June and September, respectively
|
124,000
|
124,000
|
||||||
Additional paid-in capital
|
13,809,000
|
13,809,000
|
||||||
Accumulated deficit
|
(12,616,000
|
)
|
(12,635,000
|
)
|
||||
Treasury stock, at cost, 89,355 shares
|
(7,000
|
)
|
-
|
|||||
Total stockholders' equity
|
1,310,000
|
1,298,000
|
||||||
Total liabilities and stockholders' equity
|
$
|
2,394,000
|
$
|
2,389,000
|
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||||||||||
Condensed Consolidated Statements of Operations
|
||||||||||||||||
(Unaudited)
|
||||||||||||||||
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
June 30
|
June 30
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
Revenue
|
||||||||||||||||
Oil and gas sales
|
$
|
12,000
|
$
|
14,000
|
$
|
43,000
|
$
|
53,000
|
||||||||
Total revenue
|
12,000
|
14,000
|
43,000
|
53,000
|
||||||||||||
Costs and expenses
|
||||||||||||||||
Production taxes
|
-
|
1,000
|
3,000
|
4,000
|
||||||||||||
General and administrative
|
35,000
|
35,000
|
115,000
|
118,000
|
||||||||||||
Depreciation, depletion, and amortization
|
3,000
|
4,000
|
9,000
|
13,000
|
||||||||||||
Total costs and expenses
|
38,000
|
40,000
|
127,000
|
135,000
|
||||||||||||
Loss from operations
|
(26,000
|
)
|
(26,000
|
)
|
(84,000
|
)
|
(82,000
|
)
|
||||||||
Other income
|
||||||||||||||||
Interest income
|
12,000
|
10,000
|
38,000
|
19,000
|
||||||||||||
Other income
|
41,000
|
1,000
|
65,000
|
6,000
|
||||||||||||
Total other income
|
53,000
|
11,000
|
103,000
|
25,000
|
||||||||||||
Net gain (loss)
|
$
|
27,000
|
$
|
(15,000
|
)
|
$
|
19,000
|
$
|
(57,000
|
)
|
||||||
Gain (loss) per share
|
$
|
0.00
|
$
|
(0.00
|
)
|
$
|
0.00
|
$
|
(0.00
|
)
|
||||||
Weighted average shares outstanding
|
12,262,596
|
12,555,131
|
12,318,973
|
12,561,230
|
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||
Condensed Consolidated Statements of Cash Flows
|
||||||||
(Unaudited)
|
||||||||
Nine months ended
|
||||||||
June 30
|
||||||||
2019
|
2018
|
|||||||
Cash flows used in operating activities
|
||||||||
Net gain (loss)
|
$
|
19,000
|
$
|
(57,000
|
)
|
|||
Adjustments to reconcile net loss to net cash used in operating activities
|
||||||||
Depreciation, depletion, and amortization
|
9,000
|
13,000
|
||||||
Increase in accounts receivable
|
(2,000
|
)
|
(5,000
|
)
|
||||
Increase in other current assets
|
(6,000
|
)
|
(6,000
|
)
|
||||
Decrease in accounts payable
|
(7,000
|
)
|
(1,000
|
)
|
||||
Decrease in other accrued expenses
|
-
|
(2,000
|
)
|
|||||
Net cash provided by (used in) operating activities
|
13,000
|
(58,000
|
)
|
|||||
Cash flows from financing activities
|
||||||||
Acquisition of treasury stock
|
(7,000
|
)
|
(4,000
|
)
|
||||
Net cash used in financing activities
|
(7,000
|
)
|
(4,000
|
)
|
||||
Net increase (decrease) in cash and cash equivalents
|
6,000
|
(62,000
|
)
|
|||||
Cash and cash equivalents at beginning of period
|
2,274,000
|
2,349,000
|
||||||
Cash and cash equivalents at end of period
|
$
|
2,280,000
|
$
|
2,287,000
|
||||
Noncash investing and financing activities
|
||||||||
Retirement of property plant and equipment
|
$
|
-
|
$
|
3,000
|
||||
Supplemental disclosures
|
||||||||
Cash paid for interest
|
$
|
-
|
$
|
-
|
||||
Cash paid for income taxes
|
$
|
-
|
$
|
-
|
ALTEX INDUSTRIES, INC.
|
Condensed Consolidated Statements of Stockholders' Equity
|
(Unaudited)
|
For the nine months ended
|
Preferred Stock
|
Common Stock
|
Additional
paid-in
|
Accumulated
|
Treasury
|
Total
stockholders'
|
||||||||||||||||||||
|
Amount
|
Shares |
Shares
|
Amount
|
capital | deficit | stock | equity | ||||||||||||||||||
Balance at September 30, 2018
|
|
12,351,731
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,635,000
|
)
|
$
|
-
|
$
|
1,298,000
|
|||||||||||||
Net gain
|
19,000
|
19,000
|
||||||||||||||||||||||||
Dividends declared
|
||||||||||||||||||||||||||
Preferred stock, none
|
||||||||||||||||||||||||||
Common stock, none
|
||||||||||||||||||||||||||
Acquisition of treasury stock, 89,355 shares at $0.08 per share
|
(89,355
|
)
|
(7,000
|
)
|
(7,000
|
)
|
||||||||||||||||||||
Balance at June 30, 2019
|
|
12,262,376
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,616,000
|
)
|
$
|
(7,000
|
)
|
$
|
1,310,000
|
||||||||||||
For the three months ended
|
Preferred Stock
|
Common Stock
|
Additional
paid-in
|
Accumulated
|
Treasury
|
Total
stockholders'
|
||||||||||||||||||||
|
Amount
|
Shares |
Shares
|
Amount
|
capital |
deficit |
stock |
equity |
||||||||||||||||||
Balance at March 31, 2019
|
|
12,282,376
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,643,000
|
)
|
$
|
(5,000
|
)
|
$
|
1,285,000
|
||||||||||||
Net gain
|
27,000
|
27,000
|
||||||||||||||||||||||||
Dividends declared
|
||||||||||||||||||||||||||
Preferred stock, none
|
||||||||||||||||||||||||||
Common stock, none
|
||||||||||||||||||||||||||
Acquisition of treasury stock, 20,000 shares at $0.10 per share
|
(20,000
|
)
|
(2,000
|
)
|
(2,000
|
)
|
||||||||||||||||||||
Balance at June 30, 2019
|
|
12,262,376
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,616,000
|
)
|
$
|
(7,000
|
)
|
$
|
1,310,000
|
(a) | (b) | (c) | (d) | |||||||||||||
Period
|
Total
number of
shares
(or units)
purchased
|
Average
price paid
per share
(or unit)
|
Total number
of shares
(or units)
purchased as
part of
publicly
announced
plans or
programs
|
Maximum
number (or approximate
dollar value)
of shares
(or units) that
may yet be
purchased
under the
plans or
programs
|
||||||||||||
April
2019
|
20,000
|
$
|
0.10
|
--
|
--
|
|||||||||||
May
2019
|
--
|
--
|
--
|
--
|
||||||||||||
June
2019
|
--
|
--
|
--
|
--
|
||||||||||||
Total
|
20,000
|
$
|
0.10
|
--
|
--
|
31.
|
|
32.*
|
|
101.xml
|
XBRL Instance Document
|
101.xsd
|
XBRL Taxonomy Extension Schema Document
|
101.cal
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.def
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.lab
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.pre
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
___________________________
|
|
* Furnished. Not Filed. Not incorporated by reference. Not subject to liability.
|
Date: August 9, 2019
|
By: /s/ STEVEN H. CARDIN
|
Chief Executive Officer and
Principal Financial Officer
|
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 8/9/19 | |||
For Period end: | 6/30/19 | |||
3/31/19 | 10-Q | |||
9/30/18 | 10-K | |||
6/30/18 | 10-Q | |||
List all Filings |