$NSRCF
NextSource Materials Inc.

2017 Q3 Form 10-K Financial Statement

#000143774917016410 Filed on September 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 2016 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $510.0K $2.020M $310.0K
YoY Change 142.86% 42.25% 82.35%
% of Gross Profit
Research & Development $290.0K $1.840M $210.0K
YoY Change -6.45% 127.16% 2000.0%
% of Gross Profit
Depreciation & Amortization $1.748K $21.91K $11.00K
YoY Change -84.11% -61.29% 10.01%
% of Gross Profit
Operating Expenses $780.6K $3.979M $530.0K
YoY Change 33.84% 65.19% 178.95%
Operating Profit -$780.6K -$3.979M
YoY Change 33.84% 65.19%
Interest Expense $30.00K $160.0K
YoY Change -400.0% -46.67%
% of Operating Profit
Other Income/Expense, Net $0.00 -$130.0K $0.00
YoY Change -100.0% -100.0%
Pretax Income -$780.0K -$4.000M -$300.0K
YoY Change 34.48% 145.4% 275.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$780.6K -$3.999M -$301.0K
YoY Change 39.47% 144.8% 276.19%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$89.25K -$0.01
COMMON SHARES
Basic Shares Outstanding 461.0M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.380M $1.960M $540.0K
YoY Change -70.26% 262.96% -31.65%
Cash & Equivalents $1.377M $1.960M $544.8K
Short-Term Investments $0.00
Other Short-Term Assets $40.00K $40.00K $10.00K
YoY Change 0.0% 300.0% -50.0%
Inventory
Prepaid Expenses $37.00K $11.55K
Receivables $130.8K $40.00K $13.96K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.545M $2.040M $570.3K
YoY Change -67.12% 257.89% -38.68%
LONG-TERM ASSETS
Property, Plant & Equipment $26.06K $30.00K $21.91K
YoY Change 138.84% 50.0% -72.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $26.06K $30.00K $21.91K
YoY Change 160.57% 50.0% -72.61%
TOTAL ASSETS
Total Short-Term Assets $1.545M $2.040M $570.3K
Total Long-Term Assets $26.06K $30.00K $21.91K
Total Assets $1.571M $2.070M $592.2K
YoY Change -66.64% 250.85% -41.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $192.5K $160.0K $215.4K
YoY Change 28.36% -27.27% 115.39%
Accrued Expenses $202.9K $70.00K $24.74K
YoY Change 914.27% 250.0% -91.16%
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 $590.0K $410.0K $530.0K
YoY Change 43.9% -22.64% -62.41%
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 $590.0K $410.0K $530.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $585.8K $410.0K $533.9K
YoY Change 42.88% -22.64% -62.13%
SHAREHOLDERS EQUITY
Retained Earnings -$98.74M -$93.96M
YoY Change
Common Stock $462.5K $364.9K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $985.4K $1.660M $58.30K
YoY Change
Total Liabilities & Shareholders Equity $1.571M $2.070M $592.2K
YoY Change -66.64% 250.85% -41.36%

Cashflow Statement

Concept 2017 Q3 2017 2016 Q2
OPERATING ACTIVITIES
Net Income -$780.6K -$3.999M -$301.0K
YoY Change 39.47% 144.8% 276.19%
Depreciation, Depletion And Amortization $1.748K $21.91K $11.00K
YoY Change -84.11% -61.29% 10.01%
Cash From Operating Activities -$587.6K -$3.360M -$520.0K
YoY Change -17.26% 61.54% -66.01%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$30.00K $0.00
YoY Change -137.5% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $5.178M
YoY Change -100.0% 185.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.810M 820.0K
YoY Change 173.3% -49.69%
NET CHANGE
Cash From Operating Activities -587.6K -3.360M -520.0K
Cash From Investing Activities -30.00K 0.000
Cash From Financing Activities 4.810M 820.0K
Net Change In Cash -587.6K 1.420M 300.0K
YoY Change -114.34% -691.67% 400.0%
FREE CASH FLOW
Cash From Operating Activities -$587.6K -$3.360M -$520.0K
Capital Expenditures -$30.00K
Free Cash Flow -$3.330M
YoY Change

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CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5177885
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1815013
CY2017 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
CY2016 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
76450
CY2017 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
CY2016 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
3870
CY2017 us-gaap Professional Fees
ProfessionalFees
770397
CY2016 us-gaap Professional Fees
ProfessionalFees
811704
CY2017 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
27805
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27805
CY2017 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
195561
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
195561
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
195561
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78513
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21911
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27805
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.18
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97960105
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-93960747
CY2017 us-gaap Revenues
Revenues
0
CY2016 us-gaap Revenues
Revenues
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
35365000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.11
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.07
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.22
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
794864
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
331491
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.82
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.91
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0111
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0074
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
46000000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1900000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
18635000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
21140000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
8500000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
8500000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
21140000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
44470000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
41965000
CY2017 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
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.23
CY2015Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.06
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.06
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.07
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
794864
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
331491
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P3Y182D
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5177885
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1661019
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
58299
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
-407258
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017 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="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="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The preparation of these <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these consolidated financial statements and the reported amounts of revenues and expenses during the period. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, revenue and expenses. Management uses past experience and other factors as the basis for its judgments and estimates. Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from those estimates. The impacts of estimates are pervasive throughout these consolidated financial statements and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects current and future periods. Areas where significant estimates and assumptions are used include: the binomial valuation of the warrant liability, the Black-Scholes valuation of warrants and stock options, the valuation recorded for future income taxes and the assumption that the Company will receive title to the properties after the Madagascar political situation stabilizes.</div></div></div></div></div></div></div></div></div></div>
CY2016Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
111049
CY2015Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
844851
CY2017Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
448187140
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
343243652

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