Altex Industries Inc 10-Q for FY2025 Q3

Altex Industries Inc (ALTX)

10-Q 2025-08-08 For: 2025-06-30

Added on April 09, 2026

About this 10-Q

Altex Industries Inc filed this 10-Q on August 8, 2025, covering the quarter ended June 30, 2025 (FY2025 Q3).

Quarter ended June 30, 2025, 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
	2025	2024
Assets
Current assets
Cash and cash equivalents	$ 2,578,000	$ 2,656,000
Accounts receivable	3,000	3,000
Other	28,000	21,000
Total current assets	2,609,000	2,680,000

Property and equipment, at cost
Proved oil and gas properties (successful efforts method)	311,000	311,000
Less accumulated depreciation, depletion, and amortization	(288,000)	(285,000)
Net property and equipment	23,000	26,000

Right-of-Use Asset	160,000	20,000

Total assets	2,792,000	$ 2,726,000

Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$ 2,000	$ 5,000
Operating lease liability	25,000	21,000
Accrued expense, related party	1,235,000	1,141,000
Other accrued expense	9,000	13,000
Total current liabilities	1,271,000	1,180,000

Long-term operating lease liability	135,000	-

Total Liabilities	1,406,000	1,180,000

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, 11,229,520	113,000	113,000
Additional paid-in capital	13,693,000	13,693,000
Accumulated deficit	(12,420,000)	(12,260,000)
Total stockholders' equity	1,386,000	1,546,000

Total liabilities and stockholders' equity	$ 2,792,000	$ 2,726,000

	Three Months Ended		Nine Months Ended
	June 30		June 30
	2025	2024	2025	2024
Revenue
Oil and gas sales	`$5,000`	`$4,000`	`$14,000`	`$16,000`
Total revenue	`5,000`	`4,000`	`14,000`	`16,000`

Operating expense
Production taxes	`1,000`	`1,000`	`2,000`	`2,000`
General and administrative	`46,000`	`56,000`	`257,000`	`171,000`
Depreciation, depletion, and amortization	`1,000`	`2,000`	`3,000`	`3,000`
Total operating expense	`48,000`	`59,000`	`262,000`	`176,000`

Other income
Gain on sale of assets	`-`	`525,000`	`-`	`525,000`
Interest income	`31,000`	`34,000`	`88,000`	`93,000`
Other income	`-`	`1,000`	`-`	`1,000`
Total other income	`31,000`	`560,000`	`88,000`	`619,000`

Net Income (loss)	`$(12,000)`	`$505,000`	`$(160,000)`	`$459,000`

Basic and diluted income (loss) per share	`$(0.00)`	`$0.04`	`$(0.01)`	`$0.04`

Basic and diluted weighted average shares outstanding	`11,229,520`	`11,348,021`	`11,229,520`	`11,348,021`

For the nine months ended June 30, 2024	Common Stock		Additional paid-in	Accumulated	Total stockholders'
	Shares	Amount	Capital	deficit	Equity
Balance at September 30, 2023	`11,348,021`	`$114,000`	`$13,715,000`	`$(12,697,000)`	`$1,132,000`
Net income				`459,000`	`459,000`
Balance at June 30, 2024	`11,348,021`	`$114,000`	`$13,715,000`	`$(12,238,000)`	`$1,591,000`

For the three months ended June 30, 2024	Common Stock		Additional paid-in	Accumulated	Total stockholders'
	Shares	Amount	capital	Deficit	Equity
Balance at March 31, 2024	`11,348,021`	`$114,000`	`$13,715,000`	`$(12,743,000)`	`$1,086,000`
Net income				`505,000`	`505,000`
Balance at June 30, 2024	`11,348,021`	`$114,000`	`$13,715,000`	`$(12,238,000)`	`$1,591,000`

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.