Mexco Energy Corp 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-31785 MEXCO ENERGY CORPORATION(Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months and (2) has been subject to such filing requirements for the past 90 days. YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 229.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company as defined in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☐Non-Accelerated Filer☒Emerging growth company☐ Accelerated Filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES☐NO☒ The number of shares outstanding of the registrant’s common stock, par value $.50 per share, as of February 10, 2026 was 2,046,000. MEXCO ENERGY CORPORATION AND SUBSIDIARIES Table of ContentsPagePART I. FINANCIAL INFORMATIONItem 1.Financial Statements Consolidated Balance Sheets as of December 31, 2025 (Unaudited) and March 31, 20253Consolidated Statements of Operations (Unaudited) for the three months and nine months ended December 31,2025 and December 31, 20244Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) for the three and nine months endedDecember 31, 2025 and December 31, 20245Consolidated Statements of Cash Flows (Unaudited) for the nine months ended December 31, 2025 andDecember 31, 20246Notes to Consolidated Financial Statements (Unaudited)7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations13Item 3.Quantitative and Qualitative Disclosures About Market Risk17Item 4.Controls and Procedures18PART II. OTHER INFORMATIONItem 1.Legal Proceedings19Item 1A.Risk Factors19Item 2.Unregistered Sales of Equity Securities and Use of Proceeds19Item 6.Exhibits19SIGNATURES20CERTIFICATIONS192 Mexco Energy Corporation and SubsidiariesCONSOLIDATED BALANCE SHEETS Mexco Energy Corporation and SubsidiariesCONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY(Unaudited) Mexco Energy Corporation and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWSFor the Nine Months Ended December 31,(Unaudited) Mexco Energy Corporation and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. Nature of Operations Mexco Energy Corporation (a Colorado corporation) and its wholly owned subsidiaries, Forman Energy Corporation (a New Yorkcorporation), Southwest Texas Disposal Corporation (a Texas corporation) and TBO Oil & Gas, LLC (a Texas limited liabilitycompany) (collectively, the “Company”) are engaged in the acquisition, exploration, development and production of crude oil, naturalgas, condensate and natural gas liquids (“NGLs”). Most of the Company’s oil and gas interests are centered in West Texas andSoutheastern New Mexico; however, the Company owns producing properties and undeveloped acreage in fourteen states. All of theCompany’s oil and gas interests are operated by others. 2. Basis of Presentation and Significant Accounting Policies Principles of Consolidation. The consolidated financial statements include the accounts of Mexco Energy Corporation and its whollyowned subsidiaries. All significant intercompany balances and transactions associated with the consolidated operations have beeneliminated. Estimates and Assumptions. In preparing consolidated financial statements in conformity with accounting principles generallyaccepted in the United States of America (“GAAP”), management is required to make informed judgments, estimates and assumptionsthat affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and affect the reportedamounts of revenues and expenses during the reporting period. In addition, significant estimates are used in determining proved oiland gas reserves. Although management believes its estimates and assumptions are reasonable, actual results may differ materiallyfrom those estimates. The