ALTEX INDUSTRIES INC (ALTX)

Quarterly Report Filed: 2026-05-01

Company is effectively a shell with minimal operations: only $4,000-$11,000 in quarterly oil and gas revenue against $72,000-$132,000 in operating expenses, indicating the business is not operationally viable.
Cash burn is accelerating despite low operational activity: cash decreased $67,000 in the first six months of 2026 versus $49,000 in the prior year period, while the company has accumulated deficit of $12.5 million against only $1.27 million in stockholders' equity.
Substantial related-party liability of $1.235 million represents 97% of current liabilities, raising governance concerns and questions about the nature and repayment terms of this obligation.
Interest income of $46,000 (six months) from $2.5 million cash position is the primary revenue source, but cash reserves are depleting at an unsustainable rate with no meaningful business activity to offset losses.

Quarterly Report Filed: 2026-01-30

The company's revenue from oil and gas sales increased 40% year-over-year, indicating growth in its core business operations.
The company reduced its general and administrative expenses by 60% compared to the prior year quarter, demonstrating improved cost management.
The company's cash and cash equivalents balance decreased by 1.3% during the quarter, which may signal the need to monitor its liquidity position.

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