$MXC
MEXCO ENERGY CORP

2022 Q4 Form 10-Q Financial Statement

#000149315222031098 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.581M $2.325M $1.553M
YoY Change 61.8% 49.65% 144.24%
Cost Of Revenue $478.7K $394.5K $335.6K
YoY Change 64.45% 17.54% 54.56%
Gross Profit $2.103M $1.930M $1.218M
YoY Change 61.2% 58.5% 190.72%
Gross Profit Margin 81.46% 83.03% 78.4%
Selling, General & Admin $288.5K $322.9K $214.2K
YoY Change 5.87% 50.73% 11.37%
% of Gross Profit 13.72% 16.73% 17.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $496.5K $384.4K $280.1K
YoY Change 85.25% 37.25% 18.6%
% of Gross Profit 23.61% 19.91% 23.0%
Operating Expenses $1.271M $1.110M $501.5K
YoY Change 132.03% 121.23% 15.11%
Operating Profit $1.310M $1.215M $716.3K
YoY Change 73.19% 69.64% -4361.39%
Interest Expense $3.230K $3.561K -$7.520K
YoY Change -205.21% -147.35% -70.12%
% of Operating Profit 0.25% 0.29% -1.05%
Other Income/Expense, Net -$3.171K -$3.503K -$7.518K
YoY Change 3.05% -53.41%
Pretax Income $1.307M $1.212M $708.8K
YoY Change 73.47% 70.95% -1788.9%
Income Tax $61.99K
% Of Pretax Income 4.74%
Net Earnings $1.245M $1.212M $708.8K
YoY Change 65.24% 70.95% -1788.9%
Net Earnings / Revenue 48.22% 52.12% 45.63%
Basic Earnings Per Share $0.58 $0.56 $0.34
Diluted Earnings Per Share $0.56 $0.55 $330.7K
COMMON SHARES
Basic Shares Outstanding 2.149M shares 2.149M shares 2.091M shares
Diluted Shares Outstanding 2.206M shares 2.219M shares 2.144M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $631.0K $565.6K $93.57K
YoY Change -28.31% 504.45% 49.28%
Cash & Equivalents $631.0K $565.6K $93.57K
Short-Term Investments
Other Short-Term Assets $3.132K $6.263K $43.24K
YoY Change -85.2% -85.52% 80.92%
Inventory
Prepaid Expenses $21.39K $43.10K
Receivables $2.049M $1.186M $791.2K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.715M $2.082M $928.1K
YoY Change 64.37% 124.3% 127.5%
LONG-TERM ASSETS
Property, Plant & Equipment $13.66M $13.35M $9.991M
YoY Change 34.48% 33.62% 3.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K $300.0K $225.0K
YoY Change 100.0% 33.33% 28.57%
Other Assets $23.14K
YoY Change 57750.0%
Total Long-Term Assets $14.25M $13.75M $10.24M
YoY Change 36.71% 34.32% 4.46%
TOTAL ASSETS
Total Short-Term Assets $2.715M $2.082M $928.1K
Total Long-Term Assets $14.25M $13.75M $10.24M
Total Assets $16.96M $15.84M $11.17M
YoY Change 40.49% 41.8% 9.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $191.2K $162.0K $129.9K
YoY Change 23.72% 24.75% 15.66%
Accrued Expenses $55.84K $55.32K $53.29K
YoY Change 3.81% 3.81% -2.95%
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 $247.1K $217.3K $183.2K
YoY Change 18.58% 18.66% 9.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $755.0K $792.8K $834.9K
YoY Change -8.68% -5.05% 8.4%
Total Long-Term Liabilities $755.0K $792.8K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $247.1K $217.3K $183.2K
Total Long-Term Liabilities $755.0K $792.8K $0.00
Total Liabilities $1.002M $1.010M $1.018M
YoY Change -3.2% -0.79% -52.64%
SHAREHOLDERS EQUITY
Retained Earnings $7.084M $5.839M
YoY Change
Common Stock $1.111M $1.108M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $514.3K $346.0K
YoY Change
Treasury Stock Shares 79.42K shares 67.00K shares
Shareholders Equity $15.96M $14.83M $10.15M
YoY Change
Total Liabilities & Shareholders Equity $16.96M $15.84M $11.17M
YoY Change 40.49% 41.8% 9.38%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $1.245M $1.212M $708.8K
YoY Change 65.24% 70.95% -1788.9%
Depreciation, Depletion And Amortization $496.5K $384.4K $280.1K
YoY Change 85.25% 37.25% 18.6%
Cash From Operating Activities $932.8K $1.922M $918.8K
YoY Change -18.44% 109.25% 839.73%
INVESTING ACTIVITIES
Capital Expenditures $515.8K -$1.924M -$354.3K
YoY Change -192.72% 443.02% -22.74%
Acquisitions
YoY Change
Other Investing Activities -$200.0K $0.00 $96.66K
YoY Change -324.09% -100.0% -17.07%
Cash From Investing Activities -$715.8K -$1.924M -$257.7K
YoY Change 53.26% 646.7% -24.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.6K 30.18K -648.3K
YoY Change -237.89% -104.66% -354.78%
NET CHANGE
Cash From Operating Activities 932.8K 1.922M 918.8K
Cash From Investing Activities -715.8K -1.924M -257.7K
Cash From Financing Activities -151.6K 30.18K -648.3K
Net Change In Cash 65.45K 28.58K 12.82K
YoY Change -91.68% 122.93% 26.31%
FREE CASH FLOW
Cash From Operating Activities $932.8K $1.922M $918.8K
Capital Expenditures $515.8K -$1.924M -$354.3K
Free Cash Flow $417.0K $3.847M $1.273M
YoY Change -75.47% 202.14% 128.82%

Facts In Submission

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us-gaap Net Income Loss
NetIncomeLoss
1103834 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
185732 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
36433 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
10149406 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
9266278 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
708828 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
151732 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22568 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
10149406 usd
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2216416 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2216416 shares
CY2022Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
67000 shares
CY2022Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
67000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2149416 shares
us-gaap Net Income Loss
NetIncomeLoss
2510388 usd
us-gaap Net Income Loss
NetIncomeLoss
1103834 usd
us-gaap Share Based Compensation
ShareBasedCompensation
60002 usd
us-gaap Share Based Compensation
ShareBasedCompensation
36433 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
771507 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
544380 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
15349 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
14303 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6263 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6263 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-124486 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
139453 usd
MXC Increase Decrease In Rightof Use Asset
IncreaseDecreaseInRightofUseAsset
-26893 usd
MXC Increase Decrease In Rightof Use Asset
IncreaseDecreaseInRightofUseAsset
135457 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-9540 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-4659 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-63588 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
16553 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-15860 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1052 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-26893 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
134353 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3418087 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1584816 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
4245064 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
657308 usd
MXC Proceeds From Drilling Refunds
ProceedsFromDrillingRefunds
18329 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4253453 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-554787 usd
MXC Proceeds From Drilling Refunds
ProceedsFromDrillingRefunds
115552 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
25000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
25000 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
11969 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1718 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
185732 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30179 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
500000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
275000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1455000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30179 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-994268 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-805187 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
35761 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1370766 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
57813 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
565579 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
93574 usd
us-gaap Interest Paid Net
InterestPaidNet
429 usd
us-gaap Interest Paid Net
InterestPaidNet
14834 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
21197 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
7472 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
165007 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_808_eus-gaap--NatureOfOperations_zVGQ2TOGwNZ7" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. <span id="xdx_823_z59u1PUpep9j">Nature of Operations</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexco Energy Corporation (a Colorado corporation) and its wholly owned subsidiaries, Forman Energy Corporation (a New York corporation), Southwest Texas Disposal Corporation (a Texas corporation) and TBO Oil &amp; Gas, LLC (a Texas limited liability company) (collectively, the “Company”) are engaged in the acquisition, exploration, development and production of natural gas, crude oil, condensate and natural gas liquids (“NGLs”). Most of the Company’s oil and gas interests are centered in the West Texas and Southeastern New Mexico; however, the Company owns producing properties and undeveloped acreage in fourteen states. All of the Company’s oil and gas interests are operated by others.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zn4wLmisCHB6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zzQDa0s9AsH3">Estimates and Assumptions</span></b>. In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), management is required to make informed judgments, estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. In addition, significant estimates are used in determining proved oil and gas reserves. Although management believes its estimates and assumptions are reasonable, actual results may differ materially from those estimates. The estimate of the Company’s oil and natural gas reserves, which is used to compute depreciation, depletion, amortization and impairment of oil and gas properties, is the most significant of the estimates and assumptions that affect these reported results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<p id="xdx_841_eus-gaap--ComparabilityOfPriorYearFinancialData_z5BcVEv86a66" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zkMRiS9YSzq9">Interim Financial Statements. </span></b>In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position of the Company as of September 30, 2022, and the results of its operations and cash flows for the interim periods ended September 30, 2022 and 2021. The consolidated financial statements as of September 30, 2022 and for the three and six month periods ended September 30, 2022 and 2021 are unaudited. The consolidated balance sheet as of March 31, 2022 was derived from the audited balance sheet filed in the Company’s 2022 annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). The results of operations for the periods presented are not necessarily indicative of the results to be expected for a full year. The accounting policies followed by the Company are set forth in more detail in Note 2 of the “Notes to Consolidated Financial Statements” in the Form 10-K. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in this Form 10-Q pursuant to the rules and regulations of the SEC. However, the disclosures herein are adequate to make the information presented not misleading. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Form 10-K.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
MXC Cost Method Investments Percentage Description
CostMethodInvestmentsPercentageDescription
The Company accounts for investments of less than 1% in limited liability companies at cost
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
735512 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
21197 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
12006 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
15349 usd
CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
760052 usd
CY2022Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
15000 usd
CY2022Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
745052 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
500000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
500000 usd
CY2022Q3 us-gaap Area Of Land
AreaOfLand
4160 sqft
CY2022Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P36M
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
In June 2020, in exchange for a reduction in rent for the months of June and July 2020, the Company agreed to a 2-month extension to its current lease agreement at the regular monthly rate extending its current lease expiration date to July 2021
CY2021Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
the Company agreed to extend its current lease at a flat (unescalated) rate for 36 months
CY2021Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2024-07-31
CY2022Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0375 pure
CY2022Q3 MXC Operating Lease Rightofuse Asset Gross
OperatingLeaseRightofuseAssetGross
129923 usd
CY2022Q3 MXC Operating Lease Amortization
OperatingLeaseAmortization
26893 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
103030 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55321 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
47709 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
103030 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
29120 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
58240 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
19413 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
106773 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3743 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
103030 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55321 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
47709 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
21334 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
20903 usd
us-gaap Sublease Income
SubleaseIncome
7786 usd
us-gaap Sublease Income
SubleaseIncome
10768 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
539745 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M17D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
31000 shares
us-gaap Option Indexed To Issuers Equity Strike Price1
OptionIndexedToIssuersEquityStrikePrice1
18.05
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
385640 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
31000 shares
us-gaap Option Indexed To Issuers Equity Strike Price1
OptionIndexedToIssuersEquityStrikePrice1
8.51
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
187550 usd
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.573 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6538 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0315 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0092 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
27900 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
104473 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
185732 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
3.34
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
18.05
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2084127 shares
CY2022Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
69095 usd
CY2021Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
52326 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
68211 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
47762 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2218511 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2143743 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2217627 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2131889 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.17
CY2022Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
313582 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
313582 usd
CY2022Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
13649 usd
CY2021Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
10288 usd
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
23735 usd
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
23056 usd
CY2022Q3 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
3893 usd
CY2021Q3 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
3944 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
7786 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
7988 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1211716 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
708828 usd
us-gaap Net Income Loss
NetIncomeLoss
2510388 usd
us-gaap Net Income Loss
NetIncomeLoss
1103834 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2149416 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2091417 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2149416 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31000 shares

Files In Submission

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mxc-20220930_cal.xml Edgar Link unprocessable
mxc-20220930_pre.xml Edgar Link unprocessable
mxc-20220930_lab.xml Edgar Link unprocessable
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0001493152-22-031098-index.html Edgar Link pending
0001493152-22-031098.txt Edgar Link pending
0001493152-22-031098-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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