Nextmart Stock Price, News & Analysis

NextMart, Inc. (NXMR) announced a management change, appointing Donald R. Keer as the new CEO effective April 17, 2023. This decision follows the resignation of the previous CEO and is aimed at facilitating corporate restructuring and growth. Keer, who has served as the Company's attorney, brings over 40 years of experience in engineering, management, and legal aspects relevant to oilfield services and water treatment. He emphasizes plans for rapid recapitalization, filing for a Regulation A offering, and acquiring target companies, some already in negotiations. This management transition is expected to enhance NextMart's operational capabilities and strategic direction within the energy and infrastructure sectors. An updated Form 8-K is anticipated soon, detailing these changes and financial statements.

NextMart, Inc. (NXMR) announced that its audited financial statements for the year ending September 30, 2021, will be completed soon. Following this, NXMR plans to file a Form 211 Disclosure Statement with FINRA to enable broker-dealer quotations for its stock, facilitating an easier trading market for investors. CEO Kathryn Gavin highlighted that this step and the reduction of authorized common stock from 750 million to 225 million shares mark significant developments aimed at enhancing shareholder value and reducing price volatility.

NextMart, Inc. (NXMR) announced a planned reduction of its authorized Common Stock from 500 million to 250 million shares. This will be executed in two steps, starting with an immediate decrease to 300 million shares. The company is in the process of canceling about 68 million shares to facilitate this change. CEO Kathryn Gavin stated that these actions aim to restructure the company’s capitalization for the benefit of current shareholders and to attract future acquisitions. This reduction reflects a significant reduction from 750 million shares authorized prior to last year.

NextMart, Inc. (NXMR) announces plans to add an oil field service focusing on plugging abandoned wells across Oklahoma, Texas, and New Mexico. The company has secured contracts to service 1,100 wells, with revenues projected to exceed $20 million and profit margins between 50-70%. These contracts are funded through the federal bipartisan infrastructure bill, which allocates $4.7 billion for orphan wells nationwide, addressing significant environmental concerns and methane emissions. This initiative aims to be a major revenue driver for NXMR over the coming years.

NextMart, Inc. (NXMR) announced the acquisition of Black Widow Permian Energy, a provider of oil field services in the Permian Basin, for 10 million shares of common stock. Black Widow, based in Carlsbad, New Mexico, has generated approximately $1.5 million in revenue since its inception in 2020 and is projected to reach the same amount in fiscal year 2022. NXMR plans to expand Black Widow's service capabilities and increase revenue through internal financing and a leasing program for oil field equipment, aiming to enhance its footprint in the lucrative Permian Basin.

NextMart, Inc. (NXMR) has announced the cancellation of 177,025,304 shares of Common Stock, reducing its issued and outstanding shares from 415,025,304 to 237,933,024. This cancellation represents a significant decrease of over 43%, reflecting the company's commitment to its shareholders. NXMR's CEO, Mr. Maldonado, emphasized the importance of this move for the company's market position. The company is also working on canceling an additional 68 million shares, aiming to become a current alternative reporting issuer while seeking business acquisition opportunities.

NextMart, Inc. (NXMR) has announced the construction of two new water stations in Carlsbad, New Mexico, aimed at meeting the increasing demand for oil field services in the rapidly growing Permian Basin. The new management, led by CEO Mr. Maldonado, emphasizes this initiative as a crucial step towards expanding top-line revenue. These operations are expected to commence full functionality by the third quarter. The company is also exploring additional revenue strategies to bolster its position as a prominent service provider in the region.

NextMart, Inc. (NXMR) has appointed Oscar Maldonado as the new CEO and President, effective July 1, 2022. Maldonado previously led Two Brothers Service, acquired by NXMR in June 2022. He brings over 20 years of oil and gas experience, focusing on specialized oil field services in the Permian Basin. The company is consolidating operations to enhance efficiency and is accelerating the development of new water station plants in Carlsbad, which are expected to significantly boost revenue. NXMR aims for growth as the Permian Basin sees increasing oil and gas production.

NextMart, Inc. (NXMR) has successfully acquired Two Brothers Services, LLC, a New Mexico-based company specializing in oil field services within the Permian Basin. The transaction, executed via a share exchange agreement dated June 16, 2022, involved 30 million shares of NXMR stock. Two Brothers Services, which boasts approximately $3 million in hard assets and generated $1.6 million in revenue for fiscal 2021, is projected to achieve $3 million in revenue for fiscal 2022. This acquisition aligns with NXMR's strategic expansion in the rapidly growing oil and gas sector.