Welcome to our dedicated page for Nxt Energy news (Ticker: NSFDF), a resource for investors and traders seeking the latest updates and insights on Nxt Energy stock.
NXT Energy Solutions Inc. (NSFDF) is a leader in airborne geophysical survey technology, specializing in proprietary SFD® systems that transform hydrocarbon and geothermal exploration. This page serves as the definitive source for company developments, offering investors and industry professionals timely updates on strategic initiatives and technological breakthroughs.
Access comprehensive coverage of NSFDF's operational milestones, including SFD® survey deployments, partnership announcements, and financial performance. Our curated news feed delivers essential insights into how the company's quantum sensor technology reduces exploration risks while optimizing land assessment strategies across diverse geological regions.
Key updates include advancements in gravitational detection methodologies, global project expansions, and analyses of the SFD® system's role in modern energy exploration. All content is rigorously verified to ensure alignment with regulatory standards and investor information needs.
Bookmark this resource for direct access to NSFDF's latest press releases and expert analyses. Regularly updated content provides stakeholders with the critical data required to monitor this innovator's progress in reshaping subsurface exploration efficiency.
NXT Energy Solutions Inc. (TSX: SFD; OTCQB: NSFDF) reported financial results for Q4 and YE-2022 on March 31, 2023. The company experienced a net loss of $1.47 million in Q4-22 and $6.73 million for the full year, with no revenues from SFD® services. Cash at year-end was $0.26 million, while net working capital stood at $(1.68) million. A private placement on January 25, 2023, raised approximately $1.66 million. General and administrative expenses rose by 17% year-over-year to $3.74 million. NXT's financial statements are available on SEDAR and EDGAR.
NXT Energy Solutions Inc. announced the closing of its private placement, yielding approximately $1,882,195 from issuing 9,658,282 common shares at $0.195 each. Insiders purchased 9,178,282 shares, representing 95.0% of the offering. The proceeds will be allocated to general and administrative costs, including business development and marketing. The shares are subject to a four-month hold period. A conference call is scheduled for February 1, 2023, to discuss operational updates.
NXT Energy Solutions Inc. announced the sudden passing of CEO George Liszicasz on January 23, 2023. His health had been declining for months, leading to a committee of the Board assuming his responsibilities. Liszicasz was dedicated to enhancing the commercial application of the stress field detection (SFD®) technology for oil, gas, and geothermal exploration. The company will continue its operations under the Committee's leadership, collaborating closely with qualified management to provide SFD® surveys and services as contracts progress. NXT offers environmentally friendly and efficient survey solutions to assist clients in making informed exploration decisions.
NXT Energy Solutions Inc. announced a leadership change as CEO George Liszicasz takes a medical leave of absence. A Board committee, led by Lead Director Charles Selby, will oversee the CEO's responsibilities. This committee aims to formalize new contracts for NXT's stress field technology while continuing management operations. Additionally, Frank Ingriselli has resigned from the Board to become CEO of Trio Petroleum Corp., with NXT expressing gratitude for his contributions, especially in Southeast Asia. The company's innovative SFD® survey system enhances hydrocarbon and geothermal exploration, aiming to reduce costs and risks.
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