Altex Industries Inc 10-Q for FY2026 Q3

Altex Industries Inc (ALTX)

10-Q 2026-07-31 For: 2026-06-30

Added on July 31, 2026

About this 10-Q

Altex Industries Inc filed this 10-Q on July 31, 2026, covering the quarter ended June 30, 2026 (FY2026 Q3).

Quarter ended June 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Delaware		84-0989164
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

	(Unaudited)
	June 30	September 30
	2026	2025
Assets
Current assets
Cash and cash equivalents	`$2,474,000`	`$2,545,000`
Accounts receivable	`2,000`	`1,000`
Other	`39,000`	`22,000`
Total current assets	`2,515,000`	`2,568,000`

Property and equipment, at cost
Proved oil and gas properties (successful efforts method)	`300,000`	`300,000`
Less accumulated depreciation, depletion, and amortization	`(279,000)`	`(277,000)`
Net property and equipment	`21,000`	`23,000`

Right-of-Use Asset	`134,000`	`154,000`

Total assets	`2,670,000`	`$2,745,000`

Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	`$2,000`	`$7,000`
Operating lease liability	`28,000`	`26,000`
Accrued expenses, related party	`1,235,000`	`1,235,000`
Other accrued expenses	`13,000`	`8,000`
Total current liabilities	`1,278,000`	`1,276,000`

Long-term operating lease liability	`106,000`	`127,000`

Total Liabilities	`1,384,000`	`1,403,000`

Commitments and Contingencies	`-`	`-`

Stockholders’ equity
Preferred stock, $0.01 par value. Authorized 5,000,000 shares, none issued	`-`	`-`
Common stock, $0.01 par value. Authorized 50,000,000 shares; issued and outstanding, 11,187,640, at September 30, 2025, and June 30, 2026	`112,000`	`112,000`
Additional paid-in capital	`13,682,000`	`13,682,000`
Accumulated deficit	`(12,508,000)`	`(12,452,000)`
Total stockholders' equity	`1,286,000`	`1,342,000`

Total liabilities and stockholders' equity	`$2,670,000`	`$2,745,000`

	Three Months Ended June 30		Nine Months Ended June 30
	2026	2025	2026	2025
Revenue
Oil and gas sales	`$6,000`	`$5,000`	`$17,000`	`$14,000`
Total revenue	`6,000`	`5,000`	`17,000`	`14,000`

Operating expense
Production taxes	`1,000`	`1,000`	`2,000`	`2,000`
General and administrative	`54,000`	`46,000`	`186,000`	`257,000`
Depreciation, depletion, and amortization	`1,000`	`1,000`	`2,000`	`3,000`
Total operating expense	`56,000`	`48,000`	`190,000`	`262,000`

Other income
Gain on sale of assets	`49,000`	`-`	`49,000`	`-`
Interest income	`22,000`	`31,000`	`68,000`	`88,000`
Total other income	`71,000`	`31,000`	`117,000`	`88,000`

Net income (loss)	`$21,000`	`$(12,000)`	`$(56,000)`	`$(160,000)`

Basic and diluted loss per share	`$0.00`	`$(0.00)`	`$(0.01)`	`$(0.01)`

Basic and diluted weighted average shares outstanding	`11,187,640`	`11,229,520`	`11,187,640`	`11,229,520`

	Nine months ended June 30
	2026	2025
Cash flows used in operating activities
Net loss	`$(56,000)`	`$(160,000)`
Adjustments to reconcile net loss to net cash used in operating activities
Gain on sale of assets	`(49,000)`
Depreciation, depletion, and amortization	`2,000`	`3,000`
Changes in assets and liabilities
Increase in accounts receivable	`(1,000)`	`-`
Increase in other current assets	`(17,000)`	`(7,000)`
Decrease in accounts payable	`(5,000)`	`(3,000)`
Increase in accrued expenses related party	`-`	`94,000`
Increase (decrease) in other accrued expenses	`5,000`	`(4,000)`
Operating lease	`1,000`	`(1,000)`
Net cash used in operating activities	`(120,000)`	`(78,000)`

Cash flows from investing activities
Proceeds from sale of assets	`49,000`	`-`
Net cash provided by investing activities	`49,000`	`-`

Cash flows from financing activities	`-`	`-`

Net decrease in cash and cash equivalents	`(71,000)`	`(78,000)`
Cash and cash equivalents at beginning of period	`2,545,000`	`2,656,000`
Cash and cash equivalents at end of period	`$2,474,000`	`$2,578,000`

Noncash Investing and Financing Activities
Recognition of right-of-use asset and operating lease liability	`$-`	`$166,000`

For the nine months ended June 30, 2026	Common Stock		Additional paid-in capital	Accumulated deficit	Total stockholders' equity
	Shares	Amount
Balance at September 30, 2025	`11,187,640`	`$112,000`	`$13,682,000`	`$(12,452,000)`	`$1,342,000`
Net loss				`(56,000)`	`(56,000)`
Balance at June 30, 2026	`11,187,640`	`$112,000`	`$13,682,000`	`$(12,508,000)`	`$1,286,000`

For the three months ended June 30, 2026	Common Stock		Additional paid-in capital	Accumulated deficit	Total stockholders' equity
	Shares	Amount
Balance at March 31, 2026	`11,187,640`	`$112,000`	`$13,682,000`	`$(12,529,000)`	`$1,265,000`
Net income				`21,000`	`21,000`
Balance at June 30, 2026	`11,187,640`	`$112,000`	`$13,682,000`	`$(12,508,000)`	`$1,286,000`

31.	Rule 13a-14(a)/15d-14(a) Certifications
32.*	Section 1350 Certifications
101.xml	XBRL Instance Document
101.xsd	XBRL Taxonomy Extension Schema Document
101.cal	XBRL Taxonomy Extension Calculation Linkbase Document
101.def	XBRL Taxonomy Extension Definition Linkbase Document
101.lab	XBRL Taxonomy Extension Label Linkbase Document
101.pre	XBRL Taxonomy Extension Presentation Linkbase Document
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* Furnished. Not Filed. Not incorporated by reference. Not subject to liability.