$NRIS
Norris Industries, Inc.

2024 Q2 Form 10-K Financial Statement

#000149315224021582 Filed on May 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $100.3K $78.54K $329.6K
YoY Change 23.25% 28.06% -37.39%
Cost Of Revenue $127.9K $118.6K $530.4K
YoY Change -7.99% -28.39% -19.03%
Gross Profit -$27.59K -$40.10K -$200.8K
YoY Change -52.12% -61.57% 56.14%
Gross Profit Margin -27.52% -51.06% -60.91%
Selling, General & Admin $72.58K $47.62K $200.8K
YoY Change -12.69% -23.75% 4.42%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.28K $74.64K $114.8K
YoY Change 136.59% 324.09% 69.54%
% of Gross Profit
Operating Expenses $235.4K $122.3K $846.0K
YoY Change 153.2% 52.73% -7.55%
Operating Profit -$135.1K -$162.4K -$516.4K
YoY Change -10.26% -11.95% 32.88%
Interest Expense -$33.90K -$32.62K $127.0K
YoY Change 10.24% 10.58% 9.1%
% of Operating Profit
Other Income/Expense, Net -$33.90K
YoY Change 10.25%
Pretax Income -$169.0K -$195.0K -$643.3K
YoY Change -6.78% -8.84% 27.4%
Income Tax
% Of Pretax Income
Net Earnings -$169.0K -$195.0K -$643.3K
YoY Change -6.78% -8.84% 27.4%
Net Earnings / Revenue -168.59% -248.26% -195.18%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 90.88M shares 90.88M shares 90.88M shares
Diluted Shares Outstanding 90.88M shares 90.88M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.94K $54.22K $54.22K
YoY Change 57.87% -64.27% -64.27%
Cash & Equivalents $68.94K $54.22K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $23.94K $17.01K $17.01K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $92.88K $71.23K $71.23K
YoY Change 22.2% -59.5% -59.5%
LONG-TERM ASSETS
Property, Plant & Equipment $363.2K $386.5K $386.5K
YoY Change 143.12% 138.22% 138.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $363.2K $386.5K $386.5K
YoY Change 143.11% 138.22% 138.22%
TOTAL ASSETS
Total Short-Term Assets $92.88K $71.23K $71.23K
Total Long-Term Assets $363.2K $386.5K $386.5K
Total Assets $456.1K $457.7K $457.7K
YoY Change 102.35% 35.37% 35.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $142.9K $121.0K $121.0K
YoY Change -14.21% -3.67% -3.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $142.9K $121.0K $121.0K
YoY Change -14.21% -3.67% -3.67%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $4.200M $4.200M
YoY Change 10.26% 7.69% 7.69%
Other Long-Term Liabilities $1.116M $1.071M $1.071M
YoY Change 76.94% 77.52% 77.52%
Total Long-Term Liabilities $5.416M $5.271M $5.271M
YoY Change 19.54% 17.04% 17.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $142.9K $121.0K $121.0K
Total Long-Term Liabilities $5.416M $5.271M $5.271M
Total Liabilities $5.559M $5.392M $5.392M
YoY Change 18.34% 16.48% 16.48%
SHAREHOLDERS EQUITY
Retained Earnings -$11.48M -$11.31M
YoY Change 5.82% 6.03%
Common Stock $90.88K $90.88K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.103M -$4.934M -$4.934M
YoY Change
Total Liabilities & Shareholders Equity $456.1K $457.7K $457.7K
YoY Change 102.35% 35.37% 35.37%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$169.0K -$195.0K -$643.3K
YoY Change -6.78% -8.84% 27.4%
Depreciation, Depletion And Amortization $23.28K $74.64K $114.8K
YoY Change 136.59% 324.09% 69.54%
Cash From Operating Activities -$85.00K -$80.22K -$397.5K
YoY Change -21.34% -36.16% 38.1%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $100.0K 100.0K $300.0K
YoY Change 0.0% 0.0%
NET CHANGE
Cash From Operating Activities -$85.00K -80.22K -$397.5K
Cash From Investing Activities
Cash From Financing Activities $100.0K 100.0K $300.0K
Net Change In Cash $14.72K 19.78K -$97.51K
YoY Change -113.62% -177.12% -901.79%
FREE CASH FLOW
Cash From Operating Activities -$85.00K -$80.22K -$397.5K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_848_eus-gaap--UseOfEstimates_z4naXkvkwmr8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86A_zInyAO6yXNdg">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expense during the period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023 NRIS Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities Addition
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CY2024Q1 us-gaap Operating Loss Carryforwards
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CY2024Q1 us-gaap Capitalized Costs Proved Properties
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CY2024Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
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CY2024Q1 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
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386510 usd
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CY2024Q1 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
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1753 usd
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2525 usd
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678 usd
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1136 usd
CY2024Q1 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
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339 usd
CY2023Q1 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
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339 usd
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858 usd
CY2024 NRIS Standardized Measure Of Discounted Future Estimated Net Cash Flows Rate
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CY2024Q1 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
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CY2023Q1 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
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196 usd
CY2024Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2023Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2023Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2022Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2024 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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CY2023 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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CY2024 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
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CY2023 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
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CY2024 srt Revisions Of Previous Quantity Estimates
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CY2024 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
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CY2024 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
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CY2024Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2023Q1 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
662 usd

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