$PHX
PHX MINERALS INC.

2021 Q1 Form 10-Q Financial Statement

#000156459021025005 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $6.056M $6.172M $11.31M
YoY Change -46.46% -15.49% 48.13%
Cost Of Revenue $1.470M $1.280M $1.920M
YoY Change -23.44% -55.71% -44.51%
Gross Profit $6.930M $5.150M $5.320M
YoY Change 30.26% -1.53% -10.89%
Gross Profit Margin 114.43% 83.44% 47.03%
Selling, General & Admin $3.380M $3.010M $3.530M
YoY Change -4.25% 35.59% 65.73%
% of Gross Profit 48.77% 58.45% 66.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.778M $2.261M $3.374M
YoY Change -47.3% -23.52% -6.91%
% of Gross Profit 25.65% 43.9% 63.41%
Operating Expenses $5.160M $5.270M $36.45M
YoY Change -85.84% 1.74% 533.91%
Operating Profit $1.770M -$120.0K -$31.13M
YoY Change -105.69% -340.0% -14250.0%
Interest Expense $267.9K $301.9K $346.6K
YoY Change -22.71% -18.55% -28.66%
% of Operating Profit 15.13%
Other Income/Expense, Net $100.0K $0.00 -$40.00K
YoY Change -350.0%
Pretax Income -$716.7K -$665.7K -$27.44M
YoY Change -97.39% -131.02% 1231.26%
Income Tax -$217.0K -$70.00K -$6.987M
% Of Pretax Income
Net Earnings -$499.7K -$596.7K -$20.45M
YoY Change -97.56% -131.54% 959.1%
Net Earnings / Revenue -8.25% -9.67% -180.84%
Basic Earnings Per Share -$0.02 -$0.03
Diluted Earnings Per Share -$0.02 -$0.03 -$1.238M
COMMON SHARES
Basic Shares Outstanding 22.61M 22.56M 16.34M
Diluted Shares Outstanding 22.61M 22.56M

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.300M $1.200M $500.0K
YoY Change 160.0% 300.0% 0.0%
Cash & Equivalents $1.270M $1.164M $498.8K
Short-Term Investments
Other Short-Term Assets $800.0K $1.196M $4.800M
YoY Change -83.33% 53.96% 220.0%
Inventory
Prepaid Expenses
Receivables $4.700M $3.800M $3.900M
Other Receivables $2.500M $3.800M $3.400M
Total Short-Term Assets $9.200M $9.971M $12.60M
YoY Change -26.98% 23.73% 41.57%
LONG-TERM ASSETS
Property, Plant & Equipment $86.10M $87.30M $86.00M
YoY Change 0.12% -26.52% -56.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K
YoY Change 0.0%
Other Assets $600.0K $630.4K $0.00
YoY Change -100.0%
Total Long-Term Assets $86.70M $87.93M $86.16M
YoY Change 0.62% -26.12% -56.24%
TOTAL ASSETS
Total Short-Term Assets $9.200M $9.971M $12.60M
Total Long-Term Assets $86.70M $87.93M $86.16M
Total Assets $95.90M $97.90M $98.76M
YoY Change -2.9% -22.96% -52.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $537.0K $810.1K
YoY Change -13.59% -19.88% 62.02%
Accrued Expenses $1.500M $1.400M $1.200M
YoY Change 25.0% -22.22% -20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $5.200M $3.130M $2.057M
YoY Change 152.84% 25.48% 8.24%
LONG-TERM LIABILITIES
Long-Term Debt $23.50M $27.00M $32.00M
YoY Change -26.56% -22.86% -27.44%
Other Long-Term Liabilities $4.400M $4.200M $2.900M
YoY Change 51.72% 50.0% 0.0%
Total Long-Term Liabilities $27.90M $27.00M $32.00M
YoY Change -12.81% -22.86% -31.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.200M $3.130M $2.057M
Total Long-Term Liabilities $27.90M $27.00M $32.00M
Total Liabilities $34.10M $30.13M $34.06M
YoY Change 0.13% -19.64% -52.03%
SHAREHOLDERS EQUITY
Retained Earnings $55.19M $62.45M
YoY Change -33.04%
Common Stock $11.06M $3.546M
YoY Change 233.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.834M $7.553M
YoY Change -29.45%
Treasury Stock Shares $390.3K $390.3K $505.3K
Shareholders Equity $61.73M $62.34M $60.05M
YoY Change
Total Liabilities & Shareholders Equity $95.90M $97.90M $98.76M
YoY Change -2.9% -22.96% -52.01%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income -$499.7K -$596.7K -$20.45M
YoY Change -97.56% -131.54% 959.1%
Depreciation, Depletion And Amortization $1.778M $2.261M $3.374M
YoY Change -47.3% -23.52% -6.91%
Cash From Operating Activities $4.210M $471.4K $4.010M
YoY Change 4.99% -77.54% -20.59%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K $5.500M -$30.00K
YoY Change 900.0% -5100.0% -98.89%
Acquisitions $7.870M
YoY Change -22.64%
Other Investing Activities -$40.00K -$7.870M -$80.00K
YoY Change -50.0% 15.74% -94.2%
Cash From Investing Activities -$340.0K -$7.998M -$120.0K
YoY Change 183.33% 15.88% -97.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$24.24K
YoY Change -417.51%
Debt Paid & Issued, Net $1.750M
YoY Change -66.34%
Cash From Financing Activities -3.760M -2.000M -3.660M
YoY Change 2.73% 83.73% 302.2%
NET CHANGE
Cash From Operating Activities 4.210M 471.4K 4.010M
Cash From Investing Activities -340.0K -7.998M -120.0K
Cash From Financing Activities -3.760M -2.000M -3.660M
Net Change In Cash 110.0K -9.527M 230.0K
YoY Change -52.17% 61.69% 475.0%
FREE CASH FLOW
Cash From Operating Activities $4.210M $471.4K $4.010M
Capital Expenditures -$300.0K $5.500M -$30.00K
Free Cash Flow $4.510M -$5.029M $4.040M
YoY Change 11.63% -327.7% -47.94%

Facts In Submission

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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
498777
phx Dividends Declared And Unpaid
DividendsDeclaredAndUnpaid
289997
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
4
phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
8759616
phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
10229121
phx Equity Offering Used For Acquisitions
EquityOfferingUsedForAcquisitions
-250000
phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
-150014
phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
164650
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
8359602
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
10393771
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14770804
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8345825
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7217618
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14811456
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.27
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.30
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.25
CY2021Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
161170
CY2020Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
343101
us-gaap Restricted Stock Expense
RestrictedStockExpense
284148
us-gaap Restricted Stock Expense
RestrictedStockExpense
491616
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
1569043
CY2021Q1 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
329708071
CY2020Q3 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
324886491
CY2021Q1 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
21012897
CY2020Q3 us-gaap Capitalized Costs Unproved Properties
CapitalizedCostsUnprovedProperties
18993814
CY2021Q1 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
CY2021Q1 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
351303412
CY2020Q3 phx Oil And Gas Property Successful Effort Method Gross Excluding Other Oil And Gas Property
OilAndGasPropertySuccessfulEffortMethodGrossExcludingOtherOilAndGasProperty
344462749
CY2021Q1 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
265863136
CY2020Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
263590801
CY2021Q1 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
85440276
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
phx Computation Of Oil Natural Gas And Ngl Reserves
ComputationOfOilNaturalGasAndNglReserves
P12M
CY2021Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2020Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
29500000
CY2020Q1 phx Percentage Of Discount Rate For Proved Developed Location
PercentageOfDiscountRateForProvedDevelopedLocation
0.10
CY2020Q1 phx Undeveloped Location Assigned Value
UndevelopedLocationAssignedValue
0
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
3625709
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
707647
CY2021Q1 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
-297431
CY2020Q1 phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
629139
phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
315883
phx Net Cash Received Paid On Derivative Contracts Settled
NetCashReceivedPaidOnDerivativeContractsSettled
1530912
CY2021Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2050712
CY2020Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
3442438
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2918062
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1722771
CY2021Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2348143
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
4071577
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2602179
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3253683
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
106480
CY2021Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3107010
CY2021Q1 phx Derivative Asset Fair Value Gross Non Current Asset
DerivativeAssetFairValueGrossNonCurrentAsset
177756
CY2021Q1 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
802935
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
864466
CY2020Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1146408
CY2020Q3 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
425705
CY2021Q1 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
106480
CY2021Q1 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
106480
CY2021Q1 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralNonCurrent
177756
CY2021Q1 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Non Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralNonCurrent
177756
CY2020Q3 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
864466
CY2020Q3 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
864466
CY2021Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
3000530
CY2021Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
625179
CY2020Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
281942
CY2020Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
425705
CY2020Q1 phx Producing Properties Fair Value
ProducingPropertiesFairValue
5288710
CY2020Q1 phx Impairment Of Oil And Gas Properties Measured At Fair Value
ImpairmentOfOilAndGasPropertiesMeasuredAtFairValue
29315807
phx Producing Properties Fair Value
ProducingPropertiesFairValue
5288710
phx Impairment Of Oil And Gas Properties Measured At Fair Value
ImpairmentOfOilAndGasPropertiesMeasuredAtFairValue
29315807
CY2020Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
229895

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