21 Jan 2020auditor change● Neutral
Altex dismissed Thayer O'Neal and appointed M&K CPAS PLLC as its new auditor.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Oct 2017auditor change● Neutral
Altex dismissed Malone Bailey LLP as auditor and appointed Thayer O'Neal Company.
30 Aug 2013auditor change● Neutral
Auditor Comiskey and Company declined to stand for re-election; Altex appointed Malone Bailey LLP in its place.
1 Nov 2006material agreement● Neutral
Altex renewed CEO Steven H. Cardin's employment agreement for another five years at $244,334/year plus a bonus of at least 10% of pretax profits.
18 Sept 2006material agreement● Neutral
Altex bought back the shares two outside directors had purchased in 1998 with company loans, letting them use the proceeds to retire those decade-old loans -- a routine cleanup of an old insider financing arrangement.
10 Jan 2006asset acquisition disposition▼ BadMajor
The Wyoming asset sales to Wellstar, Chaparral and Penroc closed, bringing in about $2.39 million cash combined and leaving Altex with only minor Utah royalty interests.
19 Dec 2005material agreement▼ BadMajor
At an oil and gas asset auction, Altex agreed to sell essentially all its remaining Wyoming working and royalty interests -- to Wellstar (~$1.85M), Chaparral Energy (~$335K) and Penroc Oil (~$180K) -- retaining only minor Utah and undeveloped Wyoming interests, effectively exiting active oil and gas operations.
27 Oct 2005material agreement● Neutral
Altex's oil and gas subsidiary sold its interest in three small Campbell County, Wyoming wells to Powder River Coal Company for $222,000 -- a first step in winding down its Wyoming well portfolio.
14 Oct 2004auditor change● Neutral
Altex's longtime auditor Burdick, Meritt & Associates declined to stand for re-election; the company engaged Comiskey & Company as its new principal accountant.