$PHX
PHX MINERALS INC.

2020 Q1 Form 10-Q Financial Statement

#000156459020022886 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $11.31M $7.636M
YoY Change 48.13% -33.14%
Cost Of Revenue $1.920M $3.460M
YoY Change -44.51% -6.99%
Gross Profit $5.320M $5.970M
YoY Change -10.89% -34.03%
Gross Profit Margin 47.03% 78.18%
Selling, General & Admin $3.530M $2.130M
YoY Change 65.73% 20.34%
% of Gross Profit 66.35% 35.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.374M $3.624M
YoY Change -6.91% -14.53%
% of Gross Profit 63.41% 60.7%
Operating Expenses $36.45M $5.750M
YoY Change 533.91% -4.17%
Operating Profit -$31.13M $220.0K
YoY Change -14250.0% -92.79%
Interest Expense $346.6K $485.8K
YoY Change -28.66% -127.29%
% of Operating Profit 220.81%
Other Income/Expense, Net -$40.00K
YoY Change
Pretax Income -$27.44M -$2.061M
YoY Change 1231.26% -297.04%
Income Tax -$6.987M -$130.0K
% Of Pretax Income
Net Earnings -$20.45M -$1.931M
YoY Change 959.1% -280.47%
Net Earnings / Revenue -180.84% -25.29%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.238M -$114.5K
COMMON SHARES
Basic Shares Outstanding 16.34M 16.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $500.0K $500.0K
YoY Change 0.0% 150.0%
Cash & Equivalents $498.8K $505.0K
Short-Term Investments
Other Short-Term Assets $4.800M $1.500M
YoY Change 220.0% 400.0%
Inventory
Prepaid Expenses
Receivables $3.900M $6.400M
Other Receivables $3.400M $600.0K
Total Short-Term Assets $12.60M $8.900M
YoY Change 41.57% 14.1%
LONG-TERM ASSETS
Property, Plant & Equipment $86.00M $196.6M
YoY Change -56.26% 2.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K $200.0K
YoY Change 0.0% 0.0%
Other Assets $0.00 $100.0K
YoY Change -100.0%
Total Long-Term Assets $86.16M $196.9M
YoY Change -56.24% 2.82%
TOTAL ASSETS
Total Short-Term Assets $12.60M $8.900M
Total Long-Term Assets $86.16M $196.9M
Total Assets $98.76M $205.8M
YoY Change -52.01% 3.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $810.1K $500.0K
YoY Change 62.02% -37.5%
Accrued Expenses $1.200M $1.500M
YoY Change -20.0% 7.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.057M $1.900M
YoY Change 8.24% -52.5%
LONG-TERM LIABILITIES
Long-Term Debt $32.00M $44.10M
YoY Change -27.44% 1.38%
Other Long-Term Liabilities $2.900M $2.900M
YoY Change 0.0% -3.33%
Total Long-Term Liabilities $32.00M $47.00M
YoY Change -31.91% 1.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.057M $1.900M
Total Long-Term Liabilities $32.00M $47.00M
Total Liabilities $34.06M $71.00M
YoY Change -52.03% 3.2%
SHAREHOLDERS EQUITY
Retained Earnings $62.45M
YoY Change
Common Stock $3.546M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.553M
YoY Change
Treasury Stock Shares $505.3K
Shareholders Equity $60.05M $134.8M
YoY Change
Total Liabilities & Shareholders Equity $98.76M $205.8M
YoY Change -52.01% 3.26%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$20.45M -$1.931M
YoY Change 959.1% -280.47%
Depreciation, Depletion And Amortization $3.374M $3.624M
YoY Change -6.91% -14.53%
Cash From Operating Activities $4.010M $5.050M
YoY Change -20.59% -38.11%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$2.710M
YoY Change -98.89% 73.72%
Acquisitions
YoY Change
Other Investing Activities -$80.00K -$1.380M
YoY Change -94.2% -337.93%
Cash From Investing Activities -$120.0K -$4.100M
YoY Change -97.07% 314.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.660M -910.0K
YoY Change 302.2% -87.98%
NET CHANGE
Cash From Operating Activities 4.010M 5.050M
Cash From Investing Activities -120.0K -4.100M
Cash From Financing Activities -3.660M -910.0K
Net Change In Cash 230.0K 40.00K
YoY Change 475.0% -110.0%
FREE CASH FLOW
Cash From Operating Activities $4.010M $5.050M
Capital Expenditures -$30.00K -$2.710M
Free Cash Flow $4.040M $7.760M
YoY Change -47.94% -20.16%

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EstimatedOilAndNaturalGasSalesResultedDecreaseInNetLoss
1263155
CY2020Q1 phx Estimated Oil And Natural Gas Sales Resulted Decrease In Net Income Loss Per Common Share
EstimatedOilAndNaturalGasSalesResultedDecreaseInNetIncomeLossPerCommonShare
0.08
phx Estimated Oil And Natural Gas Sales Resulted Decrease In Net Income Loss Per Common Share
EstimatedOilAndNaturalGasSalesResultedDecreaseInNetIncomeLossPerCommonShare
0.08
CY2019Q4 phx Maximum Percentage Of Operating Lease Right Use Assets To Assets
MaximumPercentageOfOperatingLeaseRightUseAssetsToAssets
0.01
CY2019Q4 phx Maximum Percentage Of Operating Lease Obligations To Assets
MaximumPercentageOfOperatingLeaseObligationsToAssets
0.01
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7982905
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15576743
phx Undeveloped Location Assigned Value
UndevelopedLocationAssignedValue
0
CY2020Q1 us-gaap Derivative Assets
DerivativeAssets
4216915
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.26
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.24
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.25
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.06
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
343101
CY2019Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
286852
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
915648
CY2019Q1 phx Number Of Assets Sold
NumberOfAssetsSold
0
phx Computation Of Oil Natural Gas And Ngl Reserves
ComputationOfOilNaturalGasAndNglReserves
P12M
CY2019Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
phx Percentage Of Discount Rate For Developed Location
PercentageOfDiscountRateForDevelopedLocation
0.10
CY2019Q3 us-gaap Derivative Assets
DerivativeAssets
2494144
phx Net Cash Received On Derivatives Settled
NetCashReceivedOnDerivativesSettled
1530912
CY2020Q1 phx Net Cash Received On Derivatives Settled
NetCashReceivedOnDerivativesSettled
629139
CY2019Q1 phx Net Cash Received On Derivatives Settled
NetCashReceivedOnDerivativesSettled
181107
phx Net Cash Paid On Derivatives Settled
NetCashPaidOnDerivativesSettled
1518294
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
4216915
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2256639
CY2019Q3 phx Derivative Asset Fair Value Gross Non Current Asset
DerivativeAssetFairValueGrossNonCurrentAsset
237505
CY2020Q1 phx Producing Properties Fair Value
ProducingPropertiesFairValue
5288710
phx Producing Properties Fair Value
ProducingPropertiesFairValue
5288710

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