$PHX
PHX MINERALS INC.

2020 Q4 Form 10-Q Financial Statement

#000156459021004700 Filed on February 08, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $6.172M $3.651M $7.304M
YoY Change -15.49% -76.79% -72.26%
Cost Of Revenue $1.280M $1.160M $2.890M
YoY Change -55.71% -67.6% -22.1%
Gross Profit $5.150M $4.000M $5.230M
YoY Change -1.53% -23.22% -41.95%
Gross Profit Margin 83.44% 109.55% 71.61%
Selling, General & Admin $3.010M $2.840M $2.220M
YoY Change 35.59% 5.97% 14.43%
% of Gross Profit 58.45% 71.0% 42.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.261M $2.520M $2.956M
YoY Change -23.52% -60.5% -22.5%
% of Gross Profit 43.9% 63.0% 56.51%
Operating Expenses $5.270M $5.350M $5.180M
YoY Change 1.74% -93.77% -10.07%
Operating Profit -$120.0K -$1.350M $50.00K
YoY Change -340.0% -98.33% -98.46%
Interest Expense $301.9K -$1.840M $370.7K
YoY Change -18.55% -387.5% -31.28%
% of Operating Profit 741.33%
Other Income/Expense, Net $0.00 -$40.00K
YoY Change
Pretax Income -$665.7K -$2.512M $2.146M
YoY Change -131.02% -96.62% -86.84%
Income Tax -$70.00K -$680.0K $254.0K
% Of Pretax Income 11.84%
Net Earnings -$596.7K -$1.834M $1.892M
YoY Change -131.54% -96.73% -85.14%
Net Earnings / Revenue -9.67% -50.23% 25.91%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.03 -$96.72K $114.4K
COMMON SHARES
Basic Shares Outstanding 22.56M 16.34M
Diluted Shares Outstanding 22.56M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.200M $10.70M $300.0K
YoY Change 300.0% 72.58% -40.0%
Cash & Equivalents $1.164M $10.69M $268.7K
Short-Term Investments
Other Short-Term Assets $1.196M $351.1K $776.7K
YoY Change 53.96% 98.31% -76.46%
Inventory
Prepaid Expenses
Receivables $3.800M $2.900M $4.321M
Other Receivables $3.800M $3.800M $1.900M
Total Short-Term Assets $9.971M $17.79M $8.058M
YoY Change 23.73% 22.88% -31.12%
LONG-TERM ASSETS
Property, Plant & Equipment $87.30M $81.60M $118.8M
YoY Change -26.52% -26.95% -39.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.0K $200.0K
YoY Change -50.0% 0.0%
Other Assets $630.4K $669.6K $0.00
YoY Change 124.79% -100.0%
Total Long-Term Assets $87.93M $82.23M $119.0M
YoY Change -26.12% -26.69% -39.56%
TOTAL ASSETS
Total Short-Term Assets $9.971M $17.79M $8.058M
Total Long-Term Assets $87.93M $82.23M $119.0M
Total Assets $97.90M $100.0M $127.1M
YoY Change -22.96% -21.02% -39.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $537.0K $997.6K $670.2K
YoY Change -19.88% 49.98% -25.86%
Accrued Expenses $1.400M $1.400M $1.800M
YoY Change -22.22% -41.67% 5.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.750M $0.00
YoY Change
Long-Term Debt Due $0.00 $1.800M
YoY Change
Total Short-Term Liabilities $3.130M $4.454M $2.495M
YoY Change 25.48% 43.74% -5.05%
LONG-TERM LIABILITIES
Long-Term Debt $27.00M $27.00M $35.00M
YoY Change -22.86% -23.78% -15.66%
Other Long-Term Liabilities $4.200M $4.200M $2.800M
YoY Change 50.0% 50.0% 0.0%
Total Long-Term Liabilities $27.00M $27.00M $35.00M
YoY Change -22.86% -23.78% -15.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.130M $4.454M $2.495M
Total Long-Term Liabilities $27.00M $27.00M $35.00M
Total Liabilities $30.13M $37.03M $37.49M
YoY Change -19.64% -3.88% -15.03%
SHAREHOLDERS EQUITY
Retained Earnings $55.19M $56.24M $82.42M
YoY Change -33.04% -31.28%
Common Stock $11.06M $11.03M $3.315M
YoY Change 233.58% 239.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.834M $6.151M $8.269M
YoY Change -29.45% -26.28%
Treasury Stock Shares $390.3K $411.5K $553.1K
Shareholders Equity $62.34M $62.99M $80.11M
YoY Change
Total Liabilities & Shareholders Equity $97.90M $100.0M $127.1M
YoY Change -22.96% -21.02% -39.08%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$596.7K -$1.834M $1.892M
YoY Change -131.54% -96.73% -85.14%
Depreciation, Depletion And Amortization $2.261M $2.520M $2.956M
YoY Change -23.52% -60.5% -22.5%
Cash From Operating Activities $471.4K $1.280M $2.098M
YoY Change -77.54% -80.84% -47.67%
INVESTING ACTIVITIES
Capital Expenditures $5.500M -$200.0K -$110.0K
YoY Change -5100.0% 11.11% -92.41%
Acquisitions $7.870M $10.17M
YoY Change -22.64% 2304.87%
Other Investing Activities -$7.870M $790.0K -$6.800M
YoY Change 15.74% -86.52% -178.43%
Cash From Investing Activities -$7.998M $580.0K -$6.902M
YoY Change 15.88% -89.81% -195.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$24.24K $7.635K
YoY Change -417.51% -99.33%
Debt Paid & Issued, Net $1.750M $5.199M
YoY Change -66.34% -61.0%
Cash From Financing Activities -2.000M 6.810M -1.089M
YoY Change 83.73% -188.21% -90.38%
NET CHANGE
Cash From Operating Activities 471.4K 1.280M 2.098M
Cash From Investing Activities -7.998M 580.0K -6.902M
Cash From Financing Activities -2.000M 6.810M -1.089M
Net Change In Cash -9.527M 8.670M -5.892M
YoY Change 61.69% 86.45% 7580.96%
FREE CASH FLOW
Cash From Operating Activities $471.4K $1.280M $2.098M
Capital Expenditures $5.500M -$200.0K -$110.0K
Free Cash Flow -$5.029M $1.480M $2.208M
YoY Change -327.7% -78.43% -59.55%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6160691
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1163818
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
268707
CY2020Q4 phx Dividends Declared And Unpaid
DividendsDeclaredAndUnpaid
229049
CY2019Q4 phx Dividends Declared And Unpaid
DividendsDeclaredAndUnpaid
663919
CY2019Q4 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
4
CY2020Q4 phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
7986350
CY2019Q4 phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
10164680
CY2020Q4 phx Equity Offering Used For Acquisitions
EquityOfferingUsedForAcquisitions
-250000
CY2020Q4 phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
261479
CY2019Q4 phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
113179
CY2020Q4 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
7997829
CY2019Q4 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
10277859
CY2020Q1 phx Lease Commencement Date
LeaseCommencementDate
2020-08
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1017431
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
670065
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
125058
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
166744
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
167475
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
175520
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
176251
CY2020Q4 phx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
353234
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1164282
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
146851
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1017431
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6424979
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7593838
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.10
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.12
CY2020Q4 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
352332755
CY2020Q3 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
344462749
CY2020Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
122978
CY2019Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
148515
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
507504
CY2020Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
329648805
CY2020Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
324886491
CY2020Q4 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
22101506
CY2020Q3 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
18993814
CY2020Q4 us-gaap Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
582444
CY2020Q3 us-gaap Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
582444
CY2020Q3 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
425705
CY2020Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
265704923
CY2020Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
263590801
CY2020Q4 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
86627832
CY2020Q3 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
80871948
CY2020Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5500000
CY2020Q4 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
153375
CY2020Q4 phx Common Stock Offering Closing Date
CommonStockOfferingClosingDate
2020-09-01
CY2020Q4 phx Computation Of Oil Natural Gas And Ngl Reserves
ComputationOfOilNaturalGasAndNglReserves
P12M
CY2020Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1391119
CY2020Q4 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
478739
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
864466
CY2020Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1146408
CY2020Q4 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2019Q4 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1574997
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
707647
CY2020Q4 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
613314
CY2019Q4 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
901773
CY2020Q4 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-867350
CY2019Q4 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-1719667
CY2020Q4 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-254036
CY2019Q4 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-817894
CY2020Q4 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
201842
CY2020Q4 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
201842
CY2020Q4 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralNonCurrent
93019
CY2020Q4 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralNonCurrent
93019
CY2020Q3 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
864466
CY2020Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1189277
CY2020Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
385720
CY2020Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
281942
CY2020Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
425705

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