$NRIS
Norris Industries, Inc.

2024 Q4 Form 10-Q Financial Statement

#000149315224041077 Filed on October 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $77.01K
YoY Change -6.78%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $160.4K
YoY Change -8.32%
Operating Profit -$83.37K
YoY Change -9.7%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$34.48K
YoY Change 8.84%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$117.9K
YoY Change -4.96%
Net Earnings / Revenue -153.05%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 90.88M shares 90.88M shares
Diluted Shares Outstanding 90.88M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $71.74K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $13.45K
Other Receivables
Total Short-Term Assets $85.19K
YoY Change -32.3%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $315.4K
YoY Change 116.6%
TOTAL ASSETS
Total Short-Term Assets $85.19K
Total Long-Term Assets $315.4K
Total Assets $400.6K
YoY Change 47.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $102.3K
YoY Change 13.09%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $102.3K
Total Long-Term Liabilities
Total Liabilities $5.621M
YoY Change 15.49%
SHAREHOLDERS EQUITY
Retained Earnings -$11.60M
YoY Change 5.69%
Common Stock $90.88K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.221M
YoY Change
Total Liabilities & Shareholders Equity $400.6K
YoY Change 47.58%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$117.9K
YoY Change -4.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
Norris Industries, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-5034746
dei Entity Address Address Line1
EntityAddressAddressLine1
102 Palo Pinto St
dei Entity Address City Or Town
EntityAddressCityOrTown
Weatherford
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
76086
dei City Area Code
CityAreaCode
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dei Local Phone Number
LocalPhoneNumber
809-6900
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us-gaap Use Of Estimates
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<p id="xdx_848_eus-gaap--UseOfEstimates_zRUD2Mzym2Wj" 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_863_z41j4VUrfpZ2">Use of Estimates</span></i></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"> </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">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: 0pt; text-align: justify"><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: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zmthhikAZEee" 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_86E_zqdknzgmry5b">Concentrations of Credit Risk</span></i></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"> </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">Financial instruments which potentially subject the Company to concentrations of credit risk include cash deposits placed with financial institutions. The Company maintains its cash in bank accounts which, at times, may exceed federally insured limits as guaranteed by the Federal Deposit Insurance Corporation (“FDIC”). At August 31, 2024, the Company had <span id="xdx_90F_eus-gaap--CashUninsuredAmount_iI_do_c20240831_zQGuWOnrhIm6" title="Cash uninsured amount">no</span> uninsured cash balances. The Company has not experienced any losses on such accounts.</span></p>
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CapitalizedCostsOilAndGasProducingActivitiesNet
315419 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
39521 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
18515 usd
CY2024Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
16246 usd
CY2023Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
8906 usd
CY2024Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
485333 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-31570 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
11691 usd
CY2024Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
465454 usd
CY2023Q3 us-gaap Accretion Expense
AccretionExpense
7817 usd
us-gaap Accretion Expense
AccretionExpense
8043 usd
CY2024Q3 us-gaap Accretion Expense
AccretionExpense
0 usd
us-gaap Accretion Expense
AccretionExpense
11691 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
68386 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
62431 usd
CY2024Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
34482 usd
CY2023Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
31680 usd
CY2024Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
585341 usd
CY2024Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
653727 usd
CY2024Q1 us-gaap Notes Payable
NotesPayable
4200000 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
4400000 usd
CY2018Q3 us-gaap Payments For Rent
PaymentsForRent
950 usd
CY2024Q3 us-gaap Payments For Rent
PaymentsForRent
2850 usd
us-gaap Payments For Rent
PaymentsForRent
5700 usd

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