OTC Bulletin Board

S & P Company Insight for TX HOLDINGS INC
 
 Profile

 
Business Summary: TX Holdings, Inc., an oil and gas production company, engages in the exploration, development, and acquisition of crude oil and natural gas in the counties of Callahan and Eastland, Texas.
 
Address
  1071 N Judge Ely Blvd # 6420
  Abilene , TX 79601-3853
  Phone: 682-286-3116
  Fax: 305-532-6262
  Website: http://www.txholdings.com
Auditor
  Ham, Langston & Brezina
  Houston
Transfer Agent
  OTC Corporate Transfer Service Co.
Employees:  4
ShareHolders:  253
Founded:  2000
Domicile:  Georgia
 
  
 
 Background

 
TX Holdings, Inc., an oil and gas production company, engages in the exploration, development, and acquisition of crude oil and natural gas in the counties of Callahan and Eastland, Texas. The company's property interests include 8% working interest in the Contract Area; 75% working interest in the Park's Lease; and 100% working interest in the Williams Lease. TX Holdings, formerly known as R Wireless, Inc., was incorporated in 2000 and is headquartered in Ashland, Kentucky.
History:  INCORPORATED in Georgia May 15, 2000, as HOM Corporation; name changed to R Wireless, Inc. Jan. 22, 2003, and to TX Holdings, Inc. July 27, 2005.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 William  ShrewsburyChairman & Chief Executive Officer
 Rob  HutchingsPresident
 Jose  FuentesChief Financial Officer
 William A. AlexanderChief Operating Officer

Directors
 Bobby S. Fellers
 Rob  Hutchings
 Martin  Lipper
 William  Shrewsbury
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  200720072006
separately below$1,119,590$1,389,017$202,177
Stock-based compensation2,061,6036,644,5044,542,901
Professional fees552,012884,342211,624
Lease expense-17,39212,392
Depreciation expense1,3782,638780
Advertising expense52,61683,26528,265
Total operating
expenses3,787,1999,021,1584,998,139
Loss from operations(3,787,199)(9,021,158)(4,998,139)
Other income and
(expenses):
Other income-710710
Loss on disposal of
equipment(7,000)(7,000)-
Forebearance agreement
costs-(211,098)-
Interest expense(290,834)(311,996)(18,290)
Total other income and (expenses), net(297,834)(529,384)(17,580)
Net loss$(4,085,033)$(9,550,542)$(5,015,719)
Net loss per common share - basic and
diluted $(0.14) $(0.25)
Weighted average number of common shares
outstanding - basic and diluted 28,750,169 20,192,875
Operating Income As Calculated
Depr. and Amort.
Fixed Charges Coverage:
Available for Fixed Charges
Gross Fixed Charges
Fixed Charges Times Earnings
Fixed Charges Coverages and Preferred Dividends Times Earnings
Capital Expenditures
Research & Development Expenditures
 
Balance Sheet
  20072006
ASSETS
Current assets:
Cash and cash equivalents $--$332,546
Prepaid expenses--15,000
Total current assets--347,546
Deposit for oil and gas property acquisition378,000253,000
Property and equipment, net617,038290,318
Other5,000--
Total assets$1,000,038$890,864
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Notes payable to a stockholder $170,000$--
Accounts payable and accrued liabilities491,788455,251
Accrued stock-based compensation231,000830,000
Advances from a stockholder/officer--164,385
Total current liabilitiess892,7881,449,636
Convertible debt to stockholder/officer1,199,886--
Total liabilities2,092,6741,449,636
Commitments and contingencies
Stockholders' deficit:
Preferred stock: no par value, 1,000,000 shares
authorized, 1,000 shares issued or outstanding1,018,0001,018,000
Common stock: no par value, 250,000,000 shares
authorized, 31,884,355 and 25,782,558 shares
issued and outstanding at September 30, 2007
and 2006, respectively8,443,0045,104,541
Additional paid-in capital800,409587,703
Accumulated deficit(1,803,507)(1,803,507)
Losses accumulated in the development stage(9,550,542)(5,465,509)
Total stockholders' deficit(1,092,636)(558,772)
Total liabilities and stockholders' deficit $1,000,038$890,864
Net Working Capital
Equity per Share
Depr. and Amort. Reserve
Preferred Shares Issued
Common Shares Issued
Treasury Shares - Preferred
Treasury Shares - Common
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   Full Year 10,000
  2007   3Nil
  2007   Full Year Nil
  2006   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(220,000)
  2008   2(300,000)
  2008   3(110,000)
  2008   4(50,000)
  2008   Full Year (680,000)
  2007   3(2,510,000)
  2007   Full Year (4,090,000)
  2006   Full Year (5,016,000)
  2005   Full Year (240,000)
  2004   Full Year (140,000)
  2003   Full Year (520,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.01)
  2008   2(.01)
  2008   3Nil
  2008   4Nil
  2008   Full Year (.02)
  2007   3(.09)
  2007   Full Year (.14)
  2006   Full Year (.25)
 
  
 
 Stock Data

 
 
Capitalization as of 09/30/2007:
 
 Authorized SharesOutstanding Shares
Preferred no par1,000,0001,000so1
Common no par250,000,00031,884,355
 
LONG TERM DEBT: $1,199,886.
 
Common no par
 
Stockholders:  09/30/2007, 253.
Transfer Agent:  OTC Corporate Transfer Service Co.   Jericho , NY
 
OTC Bulletin Board( Primary): TXHG
 
ExchangeYearHighLow
OTC Bulletin Board20080.47000.0700
OTC Bulletin Board20071.08000.0850
Over The Counter20061.07000.1900
Over The Counter20050.55000.0400
 
DIVIDENDS: Common no par: None.
 
 
  so1On Dec. 24, 2007, these shares were cancelled and exchanged for 10,715,789 Common shares.