We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Altex Industries Inc (PK) | USOTC:ALTX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0142 | 5.92% | 0.2542 | 0.235 | 0.299 | 0.2542 | 0.2542 | 0.2542 | 2,500 | 18:26:06 |
[ X ] |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ] |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
ALTEX INDUSTRIES, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
84-0989164
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification
No.)
|
PO Box 1057 Breckenridge CO 80424-1057
|
(Address of principal executive offices) (Zip Code)
|
(303) 265-9312
|
(Registrant's telephone number, including area code)
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ]
|
Smaller reporting company [ X ]
|
Emerging growth company [ ]
|
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||
Condensed Consolidated Balance Sheets
|
||||||||
(Unaudited)
|
||||||||
March 31,
|
September 30,
|
|||||||
2019
|
2018
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
2,270,000
|
$
|
2,274,000
|
||||
Accounts receivable
|
1,000
|
-
|
||||||
Other
|
8,000
|
18,000
|
||||||
Total current assets
|
2,279,000
|
2,292,000
|
||||||
Property and equipment, at cost
|
||||||||
Proved oil and gas properties (successful efforts method)
|
333,000
|
333,000
|
||||||
Less accumulated depreciation, depletion, and amortization
|
(242,000
|
)
|
(236,000
|
)
|
||||
Net property and equipment
|
91,000
|
97,000
|
||||||
Total assets
|
2,370,000
|
2,389,000
|
||||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
9,000
|
11,000
|
||||||
Other accrued expenses
|
1,076,000
|
1,080,000
|
||||||
Total current liabilities
|
1,085,000
|
1,091,000
|
||||||
Commitments and Contingencies
|
-
|
-
|
||||||
Stockholders’ equity
|
||||||||
Preferred stock, $.01 par value. Authorized 5,000,000 shares, none issued
|
-
|
-
|
||||||
Common stock, $.01 par value. Authorized 50,000,000 shares; 12,351,731 shares issued; 12,282,376
and 12,351,731 shares outstanding in March and September, respectively
|
124,000
|
124,000
|
||||||
Additional paid-in capital
|
13,809,000
|
13,809,000
|
||||||
Accumulated deficit
|
(12,643,000
|
)
|
(12,635,000
|
)
|
||||
Treasury stock, at cost, 69,355 shares
|
(5,000
|
)
|
-
|
|||||
Total stockholders' equity
|
1,285,000
|
1,298,000
|
||||||
Total liabilities and stockholders' equity
|
$
|
2,370,000
|
$
|
2,389,000
|
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||||||||||
Condensed Consolidated Statements of Operations
|
||||||||||||||||
(Unaudited)
|
||||||||||||||||
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
March 31
|
March 31
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
Revenue
|
||||||||||||||||
Oil and gas sales
|
$
|
9,000
|
$
|
27,000
|
$
|
31,000
|
$
|
39,000
|
||||||||
Total revenue
|
9,000
|
27,000
|
31,000
|
39,000
|
||||||||||||
Costs and expenses
|
||||||||||||||||
Production taxes
|
1,000
|
3,000
|
3,000
|
3,000
|
||||||||||||
General and administrative
|
48,000
|
45,000
|
80,000
|
83,000
|
||||||||||||
Depreciation, depletion, and amortization
|
3,000
|
4,000
|
6,000
|
9,000
|
||||||||||||
Total costs and expenses
|
52,000
|
52,000
|
89,000
|
95,000
|
||||||||||||
Loss from operations
|
(43,000
|
)
|
(25,000
|
)
|
(58,000
|
)
|
(56,000
|
)
|
||||||||
Other income
|
||||||||||||||||
Interest income
|
13,000
|
5,000
|
26,000
|
9,000
|
||||||||||||
Other income
|
24,000
|
5,000
|
24,000
|
5,000
|
||||||||||||
Total other income
|
37,000
|
10,000
|
50,000
|
14,000
|
||||||||||||
Net loss
|
$
|
(6,000
|
)
|
$
|
(15,000
|
)
|
$
|
(8,000
|
)
|
$
|
(42,000
|
)
|
||||
Loss per share
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||||
Weighted average shares outstanding
|
12,342,713
|
12,555,131
|
12,347,272
|
12,564,279
|
ALTEX INDUSTRIES, INC. AND SUBSIDIARIES
|
||||||||
Condensed Consolidated Statements of Cash Flows
|
||||||||
(Unaudited)
|
||||||||
Six months ended
|
||||||||
March 31
|
||||||||
2019
|
2018
|
|||||||
Cash flows used in operating activities
|
||||||||
Net loss
|
$
|
(8,000
|
)
|
$
|
(42,000
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities
|
||||||||
Depreciation, depletion, and amortization
|
6,000
|
9,000
|
||||||
Increase in accounts receivable
|
(1,000
|
)
|
(4,000
|
)
|
||||
Decrease in other current assets
|
10,000
|
10,000
|
||||||
Increase in accounts payable
|
(2,000
|
)
|
3,000
|
|||||
Decrease in other accrued expenses
|
(4,000
|
)
|
(3,000
|
)
|
||||
Net cash provided by (used in) operating activities
|
1,000
|
(27,000
|
)
|
|||||
Cash flows from financing activities
|
||||||||
Acquisition of treasury stock
|
(5,000
|
)
|
(4,000
|
)
|
||||
Net cash used in financing activities
|
(5,000
|
)
|
(4,000
|
)
|
||||
Net decrease in cash and cash equivalents
|
(4,000
|
)
|
(31,000
|
)
|
||||
Cash and cash equivalents at beginning of period
|
2,274,000
|
2,349,000
|
||||||
Cash and cash equivalents at end of period
|
$
|
2,270,000
|
$
|
2,318,000
|
||||
Noncash investing and financing activities
|
||||||||
Retirement of property plant and equipment
|
$
|
-
|
$
|
3,000
|
||||
Supplemental disclosures
|
||||||||
Cash paid for interest
|
$
|
-
|
$
|
-
|
||||
Cash paid for income taxes
|
$
|
-
|
$
|
-
|
ALTEX INDUSTRIES, INC.
|
Condensed Consolidated Statements of Stockholders' Equity
|
(Unaudited)
|
|
Preferred Stock
|
Common Stock
|
Additional
paid-in
|
Accumulated
|
Treasury
|
Total
stockholders'
|
||||||||||||||||||||||
|
|
Shares
|
|
Amount
|
Shares
|
Amount
|
capital | deficit | stock | equity | ||||||||||||||||||
For the six months ended March 31, 2019
|
||||||||||||||||||||||||||||
Balance at September 30, 2018
|
|
12,351,731
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,635,000
|
)
|
$
|
-
|
$
|
1,298,000
|
|||||||||||||||
Net loss
|
(8,000
|
)
|
(8,000
|
)
|
||||||||||||||||||||||||
Dividends declared
|
||||||||||||||||||||||||||||
Preferred stock, none
|
||||||||||||||||||||||||||||
Common stock, none
|
||||||||||||||||||||||||||||
Acquisition of treasury stock, 69,355 shares at $0.08 per share
|
(69,355
|
) |
(5,000
|
)
|
(5,000
|
)
|
||||||||||||||||||||||
Balance at March 31, 2019
|
|
12,282,376
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,643,000
|
)
|
$
|
(5,000
|
)
|
$
|
1,285,000
|
||||||||||||||
For the three months ended March 31, 2019
|
||||||||||||||||||||||||||||
Balance at December 31, 2018
|
|
12,351,731
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,637,000
|
)
|
$
|
-
|
$
|
1,296,000
|
|||||||||||||||
Net loss
|
(6,000
|
)
|
(6,000
|
)
|
||||||||||||||||||||||||
Dividends declared
|
||||||||||||||||||||||||||||
Preferred stock, none
|
||||||||||||||||||||||||||||
Common stock, none
|
||||||||||||||||||||||||||||
Acquisition of treasury stock, 69,355 shares at $0.08 per share
|
(69,355
|
) |
(5,000
|
)
|
(5,000
|
)
|
||||||||||||||||||||||
Balance at March 31, 2019
|
|
12,282,376
|
$
|
124,000
|
$
|
13,809,000
|
$
|
(12,643,000
|
)
|
$
|
(5,000
|
)
|
$
|
1,285,000
|
Period
|
(a)
Total number
of shares
(or units)
purchased
|
(b)
Average price
paid per
share (or unit)
|
(c)
Total number
of shares
(or units)
purchased as
part of
publicly
announced
plans or
programs
|
(d)
Maximum
number (or approximate
dollar value)
of shares
(or units)
that may
yet be
purchased
under the
plans or
programs
|
||||||||||||
January 2019
|
--
|
--
|
--
|
--
|
||||||||||||
February 2019
|
--
|
--
|
--
|
--
|
||||||||||||
March 2019
|
69,355
|
$
|
0.08
|
--
|
--
|
|||||||||||
Total
|
69,355
|
$
|
0.08
|
--
|
--
|
Date: May 10, 2019
|
By:
/s/ STEVEN H. CARDIN
|
Steven H. Cardin
|
|
Chief Executive Officer and
Principal Financial Officer
|
1 Year Altex Industries (PK) Chart |
1 Month Altex Industries (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions