Nxt Energy Stock Price, News & Analysis

NXT Energy Solutions Inc. (NSFDF) announced the results of its Annual Meeting of Shareholders held on June 7, 2021. Shareholders re-elected all six incumbent directors to serve until the next meeting. Additionally, KPMG LLP was reappointed as the Company's auditors for the upcoming year. Voting results showed strong support for the directors with percentages over 95%. The Company also announced that CEO George Liszicasz and CFO Eugene Woychyshyn will present at the LD Micro Invitational XI Virtual Event on June 8, 2021.

NXT Energy Solutions Inc. (OTC QB:NSFDF) will present at the LD Micro Invitational XI Virtual Event on June 8, 2021, at 1:00 pm PDT / 4:00 pm EDT. CEO George Liszicasz and CFO Eugene Woychyshyn will lead the presentation, which will be accessible on NXT’s website. The event runs from June 8 to 10, 2021. NXT specializes in aerial surveys using its proprietary SFD® technology to identify exploration potential in gravity fields, thereby enhancing clients' decision-making in exploration investments.

NXT Energy Solutions Inc. has been approved for a $1,000,000 HASCAP Loan from the Business Development Bank of Canada. This non-revolving ten-year credit facility has a 4% interest rate and is intended for working capital to support the company’s growth initiatives. The repayment includes interest-only payments for the first year, followed by principal plus interest for nine years. The loan is secured by a general security agreement and comes with a government guarantee, reflecting confidence in NXT's commercial strategies.

NXT Energy Solutions Inc. (NSFDF) reported a net loss of $1.64 million for Q1 2021, compared to a loss of $1.33 million in Q1 2020. The company recorded no survey revenue and had cash and short-term investments of $2.15 million as of March 31, 2021. General and administrative expenses decreased by 10% year-over-year, primarily due to reduced travel and professional fees. NXT has acquired rights to SFD® technology for geothermal resources, signalling its strategic shift to become a multi-application solutions provider for the Oil, Gas, and Geothermal sectors.

NXT Energy Solutions Inc. has filed amended consolidated financial statements for the years ended December 31, 2020, 2019, and 2018. This amendment removes the term 'unaudited' from the statements and corrects clerical errors in two headings. The corrected headings are 'Consolidated Statements of Cash Flows' and 'Consolidated Statements of Shareholders’ Equity.' No other changes were made to the documents. The company provides advanced survey technology to identify exploration potential in a cost-effective and environmentally friendly manner.

NXT Energy Solutions Inc. (NSFDF) will announce its first quarter 2021 financial results on May 11, 2021, after market close. A conference call is scheduled for May 12, 2021, at 4:30 p.m. ET to discuss these results. Participants can join the call by dialing 1-855-783-0506 using Conference ID 9463018. The results will be available on SEDAR and EDGAR, as well as on NXT's official website. NXT specializes in SFD® survey technology to identify exploration potential, offering reduced time, costs, and risks for clients in the energy sector.

NXT Energy Solutions Inc. has acquired the rights to geothermal resources for its SFD® technology from CEO George Liszicasz. This acquisition is seen as timely due to the shift toward renewable energy. The SFD® technology, which enhances drilling success rates while minimizing environmental impact, received patent protection in 44 countries. The deal includes an immediate payment of $40,000 and 300,000 common shares, with additional milestone payments contingent on future financial targets. Liszicasz's stake in the company will increase to 23.7% following the share issuance.

NXT Energy Solutions Inc. (NSFDF) reported its 2020 financial results, revealing a net loss of $6.00 million, a decrease in revenues to $0.14 million from survey activities, and cash and short-term investments amounting to $3.03 million. Q4-20 net loss was $1.69 million, despite a 26% decrease in general and administrative expenses due to government subsidies. The company has seen progress in contract opportunities, particularly in Nigeria, East-Central Africa, Mexico, Asia, and South America, hinting at potential future growth as commodity prices stabilize.

NXT Energy Solutions Inc. (NSFDF) will release its 2020 financial and operating results on March 30, 2021, after market close. A conference call is scheduled for March 31, 2021, at 11:00 a.m. Eastern Time to discuss these results. The financial documents will be accessible on SEDAR and EDGAR, and also on NXT's website. NXT is a Calgary-based technology company specializing in a proprietary survey system that identifies hydrocarbon exploration potential, aiding clients in reducing costs and risks.