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Norris Industries (NRIS) reported Q2 FY2026 results for the quarter ended August 31, 2025. Revenue was $84,388, up slightly from $77,007 a year ago, while the net loss widened to $151,889 from $117,856 as higher lease operating and G&A costs offset modest sales gains.
For the first six months, revenue was $177,158 versus $177,274 last year, with a net loss of $319,297. Management attributes expense pressure partly to plugging and abandoning four wells. Interest expense decreased as prior notes were converted to equity in November 2024.
Liquidity remains tight: cash was $40,323 and working capital was negative by about $75,000 as of August 31, 2025. Related‑party notes totaled $3.5 million, and the company had $700,000 available on its credit line, with a subsequent $100,000 draw after quarter‑end. Stockholders’ deficit was $(4.43) million. Internal disclosure controls and procedures were deemed not effective due to previously identified material weaknesses. As of September 15, 2025, 108,245,688 common shares were outstanding.