$NSRCF
NextSource Materials Inc.

2017 Q1 Form 10-Q Financial Statement

#000143774917009221 Filed on May 15, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q2 2016 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $340.0K $310.0K $170.0K
YoY Change 100.0% 82.35% -70.69%
% of Gross Profit
Research & Development $620.0K $210.0K $240.0K
YoY Change 158.33% 2000.0% -81.68%
% of Gross Profit
Depreciation & Amortization $0.00 $11.00K $11.00K
YoY Change -100.0% 10.01% 10.01%
% of Gross Profit
Operating Expenses $1.006M $530.0K $403.5K
YoY Change 149.35% 178.95% -78.76%
Operating Profit -$1.006M -$403.5K
YoY Change 149.35%
Interest Expense -$50.00K $160.0K $10.00K
YoY Change -600.0% -46.67% -50.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$1.010M -$300.0K -$410.0K
YoY Change 146.34% 275.0% -78.19%
Income Tax
% Of Pretax Income
Net Earnings -$1.006M -$301.0K -$410.9K
YoY Change 144.86% 276.19% -78.14%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 350.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.680M $540.0K $250.0K
YoY Change 972.0% -31.65% -65.75%
Cash & Equivalents $2.675M $544.8K $245.6K
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $50.00K $10.00K $0.00
YoY Change -50.0%
Inventory
Prepaid Expenses $49.54K $11.55K
Receivables $25.72K $13.96K $30.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.751M $570.3K $280.0K
YoY Change 882.39% -38.68% -69.23%
LONG-TERM ASSETS
Property, Plant & Equipment $26.29K $21.91K $32.91K
YoY Change -20.14% -72.09% -63.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $26.29K $21.91K $30.00K
YoY Change -12.38% -72.61% -62.5%
TOTAL ASSETS
Total Short-Term Assets $2.751M $570.3K $280.0K
Total Long-Term Assets $26.29K $21.91K $30.00K
Total Assets $2.777M $592.2K $310.0K
YoY Change 795.8% -41.36% -68.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $193.0K $215.4K $90.00K
YoY Change 114.43% 115.39% -94.3%
Accrued Expenses $22.39K $24.74K $20.00K
YoY Change 11.96% -91.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $120.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $390.0K $530.0K $890.0K
YoY Change -56.18% -62.41% -70.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $390.0K $530.0K $890.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $393.6K $533.9K $890.0K
YoY Change -55.77% -62.13% -70.92%
SHAREHOLDERS EQUITY
Retained Earnings -$96.44M -$93.96M
YoY Change
Common Stock $461.0K $364.9K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.383M $58.30K -$576.5K
YoY Change
Total Liabilities & Shareholders Equity $2.777M $592.2K $310.0K
YoY Change 795.8% -41.36% -68.69%

Cashflow Statement

Concept 2017 Q1 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income -$1.006M -$301.0K -$410.9K
YoY Change 144.86% 276.19% -78.14%
Depreciation, Depletion And Amortization $0.00 $11.00K $11.00K
YoY Change -100.0% 10.01% 10.01%
Cash From Operating Activities -$930.0K -$520.0K -$390.0K
YoY Change 138.46% -66.01% -40.0%
INVESTING ACTIVITIES
Capital Expenditures $10.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$10.00K $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 820.0K 440.0K
YoY Change -100.0% -49.69%
NET CHANGE
Cash From Operating Activities -930.0K -520.0K -390.0K
Cash From Investing Activities -10.00K 0.000 0.000
Cash From Financing Activities 0.000 820.0K 440.0K
Net Change In Cash -940.0K 300.0K 50.00K
YoY Change -1980.0% 400.0% -107.81%
FREE CASH FLOW
Cash From Operating Activities -$930.0K -$520.0K -$390.0K
Capital Expenditures $10.00K
Free Cash Flow -$940.0K
YoY Change

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CY2016Q1 us-gaap Revenues
Revenues
us-gaap Share Based Compensation
ShareBasedCompensation
us-gaap Share Based Compensation
ShareBasedCompensation
331491
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1900000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
16005000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
8500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25960000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
41965000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
35365000
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.14
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.22
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.18
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.23
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.25
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.06
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5177885
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
-407258
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
-576494
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
58299
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2383363
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Principals of Consolidation and Basis of Presentation</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">These unaudited condensed consolidated interim financial statements are presented in accordance with accounting principles generally accepted in the United States (&quot;U.S. GAAP&quot;). These unaudited condensed consolidated interim financial statements include the accounts of NextSource Materials Inc. and its wholly-owned subsidiaries, Energizer (Mauritius) Ltd., THB Ventures Ltd., Energizer Madagascar Sarl, Energizer Minerals Sarl, Madagascar-ERG Joint Venture (Mauritius) Ltd., ERG (Madagascar) Sarl and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2391938</div> Ontario Inc. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">All inter-company balances and transactions have been eliminated on consolidation.</div></div></div></div></div>
CY2016Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
111049
CY2015Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
844851
CY2017Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
424437913
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
338162447
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
460995711
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
348213005

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