Here are the 10-K annual reports from Northern Minerals & Expl (NMEX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NMEX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NMEX filings page.
Northern Minerals & Exploration Ltd. (NMEX) filed Amendment No. 1 to its annual report for the year ended July 31, 2025, primarily to update signatures and officer certifications without other material changes. The company reported first-time oil and gas revenue of $8,634 from its working interests in 14 Oklahoma wells, generating a small gross margin of $264. Operating expenses of $235,578 and an impairment charge of $140,744 on oil and gas properties drove a net loss of $383,612, widening from $170,340 in 2024.
Total assets were $162,265, including $151,456 of capitalized oil and gas properties, against total liabilities of $385,613, resulting in a stockholders’ deficit of $223,348. The auditor highlighted substantial doubt about the company’s ability to continue as a going concern due to recurring losses, negative working capital and cash flow use. NMEX financed operations through equity sales and debt, including a related-party line of credit with up to $500,000 available, of which $135,000 was drawn as of July 31, 2025.
Northern Minerals & Exploration Ltd. (NMEX) is a junior natural resources company focused on oil and gas production in Texas and Oklahoma and gold and silver exploration in Nevada. In the year ended July 31, 2025, it recorded its first oil and gas revenue of $8,634, generating a modest gross margin of $264, but expenses and a non-cash impairment drove a larger loss. The company reported a net loss of $383,612, more than double the prior year’s loss of $170,340, including $140,744 of impairment on oil and gas properties.
Total assets were $162,265, mostly oil and gas properties, against $385,613 of liabilities, resulting in a stockholders’ deficit of $223,348 and only $4,059 of cash. Operations were funded primarily through related-party and third-party loans and small equity issuances, including stock issued to acquire interests in Lost Creek Acquisitions LLC. The auditor and management highlight recurring losses, negative working capital, and accumulated deficit as raising substantial doubt about the company’s ability to continue as a going concern, and management concludes internal controls over financial reporting are ineffective.