$ALTX
Altex Industries Inc

2023 Q4 Form 10-K Financial Statement

#000109690623002389 Filed on December 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $6.000K $6.000K $32.00K
YoY Change -53.85% -83.33% -11.11%
Cost Of Revenue $1.000K $1.000K $4.000K
YoY Change 0.0% 33.33%
Gross Profit $5.000K $5.000K $28.00K
YoY Change -58.33% 400.0% -15.15%
Gross Profit Margin 83.33% 83.33% 87.5%
Selling, General & Admin $50.00K $49.00K $263.0K
YoY Change -55.75% -12.5% 46.93%
% of Gross Profit 1000.0% 980.0% 939.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.000K $2.000K $6.000K
YoY Change -50.0% -77.78% -33.33%
% of Gross Profit 20.0% 40.0% 21.43%
Operating Expenses $52.00K $51.00K $273.0K
YoY Change -55.17% -73.3% 45.21%
Operating Profit -$47.00K -$46.00K -$245.0K
YoY Change -54.81% -75.79% 58.06%
Interest Expense $30.00K $30.00K $101.0K
YoY Change 57.89% 172.73% 621.43%
% of Operating Profit
Other Income/Expense, Net $30.00K $0.00 $110.0K
YoY Change 11.11% -100.0% 2650.0%
Pretax Income -$16.00K -$16.00K -$131.0K
YoY Change -78.95% -66.67% -141.85%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$16.00K -$16.00K -$131.0K
YoY Change -78.95% -105.11% -141.85%
Net Earnings / Revenue -266.67% -266.67% -409.38%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 11.35M shares 11.52M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.219M $2.232M $2.232M
YoY Change -3.69% -5.34% -5.34%
Cash & Equivalents $2.219M $2.232M $2.232M
Short-Term Investments
Other Short-Term Assets $15.00K $22.00K $22.00K
YoY Change -16.67% -15.38% -15.38%
Inventory
Prepaid Expenses
Receivables $2.000K $4.000K $4.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.236M $2.258M $2.258M
YoY Change -3.91% -5.32% -5.32%
LONG-TERM ASSETS
Property, Plant & Equipment $28.00K $29.00K $76.00K
YoY Change -15.15% -17.14% -28.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $68.00K $76.00K $76.00K
YoY Change -30.61% -28.3% -28.3%
TOTAL ASSETS
Total Short-Term Assets $2.236M $2.258M $2.258M
Total Long-Term Assets $68.00K $76.00K $76.00K
Total Assets $2.304M $2.334M $2.334M
YoY Change -4.99% -6.3% -6.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000K $4.000K $4.000K
YoY Change -85.71% 0.0% 0.0%
Accrued Expenses $1.140M $1.140M $1.178M
YoY Change -0.09% 6.24% 6.22%
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 $1.182M $1.182M
YoY Change 0.0% 6.2% 6.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.00K $20.00K $20.00K
YoY Change -67.5% -57.45% -57.45%
Total Long-Term Liabilities $13.00K $20.00K $20.00K
YoY Change -67.5% -57.45% -57.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.175M $1.182M $1.182M
Total Long-Term Liabilities $13.00K $20.00K $20.00K
Total Liabilities $1.188M $1.202M $1.202M
YoY Change -2.22% 3.62% 3.62%
SHAREHOLDERS EQUITY
Retained Earnings -$12.71M -$12.70M
YoY Change 0.56% 1.04%
Common Stock $114.0K $114.0K
YoY Change -1.72% -5.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.116M $1.132M $1.132M
YoY Change
Total Liabilities & Shareholders Equity $2.304M $2.334M $2.334M
YoY Change -4.99% -6.3% -6.3%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income -$16.00K -$16.00K -$131.0K
YoY Change -78.95% -105.11% -141.85%
Depreciation, Depletion And Amortization $1.000K $2.000K $6.000K
YoY Change -50.0% -77.78% -33.33%
Cash From Operating Activities -$13.00K -$3.000K -$58.00K
YoY Change 44.44% -90.63% -55.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $68.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 -23.00K -$68.00K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$13.00K -3.000K -$58.00K
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities $0.00 -23.00K -$68.00K
Net Change In Cash -$13.00K -26.00K -$126.0K
YoY Change -75.93% -18.75% -139.25%
FREE CASH FLOW
Cash From Operating Activities -$13.00K -$3.000K -$58.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font:10pt stHtmlOvrFontNm;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 stHtmlOvrFontNm;margin:0;text-align:justify"><b><i>Estimates</i></b>: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
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<p style="font:10pt stHtmlOvrFontNm;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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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-28000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
66000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-28000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-66000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1087000 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
53000 usd
CY2023 us-gaap Concentration Risk Additional Characteristic
ConcentrationRiskAdditionalCharacteristic
the Company had one customer who accounted for 83% of the Company's oil and gas sales
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
CY2023Q3 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
4000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
30000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
28000 usd
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
118000 usd
CY2023Q3 us-gaap Operating Leases Future Minimum Payments Next Rolling Twelve Months
OperatingLeasesFutureMinimumPaymentsNextRollingTwelveMonths
28000 usd
CY2023Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
22000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
50000 usd
CY2023Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
326000 usd
CY2022Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
327000 usd
CY2023Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
297000 usd
CY2022Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
292000 usd
CY2023Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
29000 usd
CY2022Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
35000 usd
CY2022 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
450000 usd
CY2022 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
663380 shares
CY2023 us-gaap Other Income
OtherIncome
9000 usd
CY2022 us-gaap Other Income
OtherIncome
4000 usd
CY2023Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
326000 usd
CY2023Q3 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
297000 usd
CY2023Q3 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
29000 usd
CY2020Q3 fil Net Proved Developed And Undeveloped Reserves
NetProvedDevelopedAndUndevelopedReserves
1000 pure
CY2022Q3 fil Proved Developed And Undeveloped Reserves Revisions Of Previous Estimates
ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimates
600 pure
CY2023Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
105000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
110000 usd
CY2023Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
12000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
13000 usd
CY2023Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
93000 usd
CY2022Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
97000 usd
CY2023Q3 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
-27000 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
CY2023Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
66000 usd
CY2022Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
68000 usd
CY2023 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
68000 usd
CY2022 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
33000 usd
CY2023 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
-28000 usd
CY2022 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
-33000 usd
CY2023 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
-14000 usd
CY2022 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
24000 usd
CY2023 fil Revisions Of Quantity Estimates
RevisionsOfQuantityEstimates
33000 usd
CY2022 fil Revisions Of Quantity Estimates
RevisionsOfQuantityEstimates
42000 usd
CY2023 us-gaap Accretion Expense
AccretionExpense
7000 usd
CY2022 us-gaap Accretion Expense
AccretionExpense
4000 usd
CY2023 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
0 usd
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
-2000 usd
CY2023Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
66000 usd
CY2022Q3 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
68000 usd

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