$ALTX
Altex Industries Inc

2022 Q4 Form 10-K Financial Statement

#000109690622003043 Filed on December 23, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022
Revenue $13.00K $36.00K $36.00K
YoY Change -38.1% 50.0% -18.18%
Cost Of Revenue $1.000K $0.00 $3.000K
YoY Change 0.0% -100.0% 0.0%
Gross Profit $12.00K $1.000K $33.00K
YoY Change -40.0% -95.45% -19.51%
Gross Profit Margin 92.31% 2.78% 91.67%
Selling, General & Admin $113.0K $56.00K $179.0K
YoY Change 253.13% 9.8% 3.47%
% of Gross Profit 941.67% 5600.0% 542.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.000K $9.000K $9.000K
YoY Change 0.0% 800.0% 28.57%
% of Gross Profit 16.67% 900.0% 27.27%
Operating Expenses $116.0K $191.0K $188.0K
YoY Change 241.18% 267.31% 4.44%
Operating Profit -$104.0K -$190.0K -$155.0K
YoY Change 642.86% 533.33% 11.51%
Interest Expense $19.00K $11.00K $14.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net $27.00K $468.0K $4.000K
YoY Change 735.71% -92.98%
Pretax Income -$76.00K -$48.00K $313.0K
YoY Change 442.86% -284.62% -481.71%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$76.00K $313.0K $313.0K
YoY Change 442.86% 1103.85% -481.71%
Net Earnings / Revenue -584.62% 869.44% 869.44%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$3.996K $26.06K
COMMON SHARES
Basic Shares Outstanding 11.52M shares 12.01M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.304M $2.358M $2.358M
YoY Change 14.0% 15.76% 15.76%
Cash & Equivalents $2.304M $2.358M $2.358M
Short-Term Investments
Other Short-Term Assets $18.00K $26.00K $26.00K
YoY Change 5.88% 23.81% 23.81%
Inventory
Prepaid Expenses
Receivables $5.000K $1.000K $1.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.327M $2.385M $2.385M
YoY Change 13.79% 15.72% 15.72%
LONG-TERM ASSETS
Property, Plant & Equipment $33.00K $35.00K $106.0K
YoY Change -74.62% -18.6% -23.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $98.00K $106.0K $106.0K
YoY Change -24.62% -23.19% -23.19%
TOTAL ASSETS
Total Short-Term Assets $2.327M $2.385M $2.385M
Total Long-Term Assets $98.00K $106.0K $106.0K
Total Assets $2.425M $2.491M $2.491M
YoY Change 11.49% 13.28% 13.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.000K $4.000K $4.000K
YoY Change 16.67% 100.0% 100.0%
Accrued Expenses $1.141M $1.073M $1.109M
YoY Change 3.82% 0.0% 0.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.175M $1.113M $1.113M
YoY Change 6.33% 0.36% 0.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $40.00K $47.00K $47.00K
YoY Change -39.39% -34.72% -34.72%
Total Long-Term Liabilities $40.00K $47.00K $47.00K
YoY Change -39.39% -34.72% -34.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.175M $1.113M $1.113M
Total Long-Term Liabilities $40.00K $47.00K $47.00K
Total Liabilities $1.215M $1.160M $1.160M
YoY Change 3.76% -1.78% -1.78%
SHAREHOLDERS EQUITY
Retained Earnings -$12.64M -$12.57M
YoY Change -2.43%
Common Stock $116.0K $121.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.210M $1.331M $1.331M
YoY Change
Total Liabilities & Shareholders Equity $2.425M $2.491M $2.491M
YoY Change 11.49% 13.28% 13.28%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022
OPERATING ACTIVITIES
Net Income -$76.00K $313.0K $313.0K
YoY Change 442.86% 1103.85% -481.71%
Depreciation, Depletion And Amortization $2.000K $9.000K $9.000K
YoY Change 0.0% 800.0% 28.57%
Cash From Operating Activities -$9.000K -$32.00K -$129.0K
YoY Change -43.75% -184.21% 51.76%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $450.0K
YoY Change
Cash From Investing Activities $0.00 $0.00 $450.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$45.00K 0.000 $0.00
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -$9.000K -32.00K -$129.0K
Cash From Investing Activities 0.000 0.000 $450.0K
Cash From Financing Activities -$45.00K 0.000 $0.00
Net Change In Cash -$54.00K -32.00K $321.0K
YoY Change 237.5% -268.42% -408.65%
FREE CASH FLOW
Cash From Operating Activities -$9.000K -$32.00K -$129.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font:10pt Times New Roman;margin:0;text-align:justify"><b><i>Nature of operations: </i></b>Altex Industries, Inc., through its wholly-owned subsidiary, jointly referred to as “the Company,” owns non-working interests in productive oil and gas properties located in Utah and Wyoming. The Company’s revenues are generated from interest income from cash deposits and from sales of oil and gas production. The Company’s operations are significantly affected by changes in interest rates and oil and gas prices.</p>
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<p style="font:10pt Times New Roman;margin:0;text-align:justify"><b><i>Concentrations of credit risk</i></b><i>: </i>The Company maintains significant amounts of cash and sometimes permits cash balances to exceed insured limits.</p>
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-17000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-66000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-17000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q3 fil Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimates
600 pure
CY2022Q3 fil Proved Developed And Undeveloped Reserve Production
ProvedDevelopedAndUndevelopedReserveProduction
-300 pure
CY2022Q3 fil Net Proved Developed And Undeveloped Reserves
NetProvedDevelopedAndUndevelopedReserves
1300 pure
CY2022Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1024000 usd
CY2022Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
49000 usd
CY2022 us-gaap Concentration Risk Additional Characteristic
ConcentrationRiskAdditionalCharacteristic
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
CY2022 us-gaap Concentration Risk Other Risk
ConcentrationRiskOtherRisk
the four customers individually accounted for 48%, 17%, 17%, and 11% of oil and gas sales
CY2021 us-gaap Concentration Risk Additional Characteristic
ConcentrationRiskAdditionalCharacteristic
the Company had three 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
CY2021 us-gaap Concentration Risk Other Risk
ConcentrationRiskOtherRisk
the three customers individually accounted for 63%, 17% and 13% of oil and gas sales
CY2022 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
450000 usd
CY2022Q3 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
4000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
28000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
27000 usd
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
118000 usd
CY2022Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
327000 usd
CY2021Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
333000 usd
CY2022Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
292000 usd
CY2021Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
290000 usd
CY2022Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
35000 usd
CY2021Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
43000 usd
CY2021 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
130000 shares
CY2022 us-gaap Other Income
OtherIncome
4000 usd
CY2022Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
327000 usd
CY2022Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
292000 usd
CY2022Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
35000 usd
CY2020Q3 fil Net Proved Developed And Undeveloped Reserves
NetProvedDevelopedAndUndevelopedReserves
1100 pure
CY2021Q3 fil Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimates
700 pure
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
110000 usd
CY2021Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
51000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
13000 usd
CY2021Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
6000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
97000 usd
CY2021Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
45000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
-29000 usd
CY2021Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
-12000 usd
CY2022Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
68000 usd
CY2021Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
33000 usd
CY2022 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
33000 usd
CY2021 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
23000 usd
CY2022 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
-33000 usd
CY2021 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
-41000 usd
CY2022 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
24000 usd
CY2021 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
18000 usd
CY2022 fil Revisions Of Quantity Estimates
RevisionsOfQuantityEstimates
42000 usd
CY2021 fil Revisions Of Quantity Estimates
RevisionsOfQuantityEstimates
27000 usd
CY2022 us-gaap Accretion Expense
AccretionExpense
4000 usd
CY2021 us-gaap Accretion Expense
AccretionExpense
3000 usd
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
-2000 usd
CY2021 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
3000 usd
CY2022Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
68000 usd
CY2021Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
33000 usd

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