Mexco Energy Corp. Files Q3 2025 10-Q

TL;DR

Mexco Energy Corp. filed its Q3 2025 10-Q. Financials are in.

AI Summary

Mexco Energy Corp. filed its 10-Q for the period ending December 31, 2024. The company reported its financial results for the third quarter and the first nine months of its fiscal year. Specific financial figures and operational details for these periods are detailed within the filing.

Why It Matters

This filing provides investors with an update on Mexco Energy Corp.'s financial performance and operational status for the third quarter of its fiscal year, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As an oil and gas company, Mexco Energy Corp. is subject to the inherent volatility and risks associated with commodity prices, regulatory changes, and operational challenges in the energy sector.

Key Numbers

• 2024-12-31 — Period End Date (The filing covers financial data up to this date.)
• 2025-02-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-04-01 — Fiscal Year Start Date (Beginning of the current fiscal year for reporting.)
• 2023-12-31 — Prior Year Period End (End date for comparative financial data from the previous year.)

Key Players & Entities

• MEXCO ENERGY CORP (company) — Filer
• 0001493152-25-005426 (accession_number) — Filing identifier
• 20241231 (date) — Period of report
• 20250207 (date) — Filing date
• MIDLAND (location) — Business address city
• TX (location) — Business address state
• 001-31785 (sec_file_number) — SEC file number

FAQ

Key Financial Figures

• $0.50 — ch registered Common Stock, par value $0.50 per share MXC NYSE American Indic

Filing Documents

• form10-q.htm (10-Q) — 607KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 19KB
• ex32-1.htm (EX-32.1) — 10KB
• 0001493152-25-005426.txt ( ) — 3588KB
• mxc-20241231.xsd (EX-101.SCH) — 25KB
• mxc-20241231_cal.xml (EX-101.CAL) — 53KB
• mxc-20241231_def.xml (EX-101.DEF) — 100KB
• mxc-20241231_lab.xml (EX-101.LAB) — 263KB
• mxc-20241231_pre.xml (EX-101.PRE) — 206KB
• form10-q_htm.xml (XML) — 393KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets as of December 31, 2024 (Unaudited) and March 31, 2024 3 Consolidated Statements of Operations (Unaudited) for the three months and nine months ended December 31, 2024 and December 31, 2023 4 Consolidated Statements of Changes in Stockholders' Equity (Unaudited) for the three and nine months ended December 31, 2024 and December 31, 2023 5 Consolidated Statements of Cash Flows (Unaudited) for the nine months ended December 31, 2024 and December 31, 2023 6

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 18

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 6. Exhibits 19

SIGNATURES

SIGNATURES 20 CERTIFICATIONS 19 2 PART I – FINANCIAL INFORMATION Item 1. Financial Statements Mexco Energy Corporation and Subsidiaries CONSOLIDATED BALANCE SHEETS December 31, March 31, 2024 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 910,005 $ 2,473,484 Accounts receivable: Oil and natural gas sales 1,037,754 1,001,709 Trade 48,759 9,186 Prepaid costs and expenses 26,050 56,193 Prepaid drilling 29,085 148,748 Total current assets 2,051,653 3,689,320 Property and equipment, at cost Oil and gas properties, using the full cost method 51,263,675 48,304,585 Other 121,926 121,926 Accumulated depreciation, depletion and amortization ( 35,945,246 ) ( 34,184,837 ) Property and equipment, net 15,440,355 14,241,674 Investments – cost basis 1,900,000 1,100,000 Operating lease, right-of-use asset 138,577 19,263 Other noncurrent assets 5,373 8,597 Total assets $ 19,535,958 $ 19,058,854 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 220,550 $ 221,603 Income tax payable 312,036 189,254 Operating lease liability, current 49,872 19,263 Total current liabilities 582,458 430,120 Long-term liabilities Operating lease liability, long-term 88,705 - Asset retirement obligations 682,061 688,808 Deferred income tax liabilities 155,975 311,661 Total long-term liabilities 926,741 1,000,469 Total liabilities 1,509,199 1,430,589 Commitments and contingencies - - Stockholders' equity Preferred stock - $ 1.00 par value; 10,000,000 shares authorized; none outstanding - - Common stock - $ 0.50 par value; 40,000,000 shares authorized; 2,239,283 and 2,226,916 shares issued; 2,046,000 and 2,091,399 shares outstanding as of December 31, 2024 and March 31, 2024, respectively 1,119,641 1,113,458 Additional paid-in capital 8,795,013 8,567,856 Retained earnings 9,990,851 9,122,481

View Full Filing

View this 10-Q filing on SEC EDGAR