Welcome to our dedicated page for Norris Inds SEC filings (Ticker: NRIS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Norris Industries, Inc. filings document an OTC-traded Nevada issuer's public reporting, auditor relationships, accounting controls, and capital-structure matters. The company's common stock is registered under Section 12(g) and trades under the symbol NRIS on OTCMKTS.
Recent reports include Form 8-K disclosures on changes in the independent registered public accounting firm, a disagreement over the presentation of Series A Convertible Preferred Stock, non-reliance considerations for previously issued financial statements, identified material weaknesses, and preferred-stock capital treatment. The record also includes a Form 12b-25 notification related to a delayed quarterly report.
Norris Industries, Inc. (NRIS) files its annual report describing a small Texas-focused oil and gas producer with modest reserves and ongoing losses. For the year ended February 28, 2026, the company generated $286,086 of oil and gas revenue, down from $329,334, and reported a net loss of $661,431.
Cash was only $45,376, and auditors highlight going concern risks, noting continued losses and dependence on external funding. NRIS has access to a $1,000,000 related-party credit line from JBB Partners but no committed third-party financing. As of March 1, 2026, independent engineers estimate net proved reserves of 33,800 barrels of oil and 132,000 Mcf of gas, supporting discounted future cash flows of $386,800.
The company focuses on small, shallow wells in several Texas fields and plans to use enhanced oil recovery and selective acquisitions to grow. Management also warns extensively about commodity price volatility, geopolitical conflicts, regulatory risk, limited operating history, concentrated control by its majority shareholder, penny stock status and the possibility it may need to curtail or cease operations without new capital.
Patrick L. Norris, Chairman and CEO of Norris Industries, filed an amended Schedule 13D showing beneficial ownership of 78,122,675 shares of common stock, or 72.17% of the company’s outstanding common stock.
The amendment removes 1,000,000 preferred shares previously reported, after those preferred shares were contributed to the capital of Norris Industries for no consideration. Norris reports sole voting and dispositive power over his common stock holdings and disclaims beneficial ownership of common shares issued upon conversion of a promissory note to the extent of his pecuniary interest in JBB.
Norris Industries, Inc. director and Chairman/CEO/CFO Patrick L. Norris reported an internal restructuring of his holdings. He disposed of 1,000,000 shares of preferred stock, returning them to the company as a contribution to capital on February 26, 2026, in a board-approved transaction exempt under Section 16. These preferred shares were originally issued upon conversion of $750,000 of outstanding debt in February 2019 and were tied to 66,666,667 underlying common shares. The filing also shows 78,122,675 shares of common stock held indirectly through JBB Partners, Inc. after the reported transactions.
Norris Industries, Inc., a small Texas-focused oil and gas producer, reported continued losses and weak production for the quarter and nine months ended November 30, 2025. Quarterly revenue from oil and gas sales was $54,228, down from $81,744 a year earlier, and the net loss was $158,177. For the nine-month period, revenue was $231,386 with a net loss of $477,474.
At November 30, 2025, cash was only $88,690 and total assets were $335,925 against total liabilities of $4,919,934, resulting in a stockholders’ deficit of $5,334,009. The company relies heavily on a related-party credit line, with $3,700,000 of convertible related-party debt outstanding and $1,000,000 still available to draw.
Management acknowledges recurring operating losses and negative cash flows, but believes existing cash and the expanded JBB credit facility can fund operations for 12 months, alleviating substantial doubt about going concern. Subsequent to the period, Norris canceled all 1,000,000 shares of its Series A Convertible Preferred Stock and drew an additional $100,000 on its credit line. Material weaknesses in internal control over financial reporting remain unremediated.
Norris Industries, Inc. reported that its Board of Directors accepted a contribution to capital from Chief Executive Officer Patrick Norris and his affiliates of the currently issued and outstanding 1,000,000 shares of preferred stock on February 27, 2026. These preferred shares will be cancelled and returned to the status of authorized but unissued preferred stock, simplifying the company’s capital structure by removing this block of outstanding preferred equity.
Norris Industries, Inc. has appointed Sadler, Gibb & Associates, LLC as its new independent registered public accounting firm, replacing BDO USA, PC. The Board of Directors approved the engagement on February 13, 2026, and the appointment was effective February 24, 2026.
The company states that during its two most recent fiscal years ended February 28, 2025 and February 29, 2024, and through February 24, 2026, it did not consult Sadler Gibb on accounting principles, audit opinions, or any matters involving disagreements or reportable events under Regulation S-K.
Norris Industries, Inc., a Nevada-based company trading on OTCMKTS under the symbol NRIS, filed Amendment No. 1 to a prior current report. The amendment is used to file additional exhibits, including a letter from BDO USA, P.C. dated February 12, 2026 to the company’s board of directors and a second BDO letter dated February 19, 2026 addressed to the SEC. The filing also includes an Inline XBRL cover page data file.
Norris Industries reported that former auditor BDO USA, P.C. sent a letter on February 12, 2026 stating its view that the company’s historical accounting classification of its Class A Preferred Stock was incorrect and that previously issued financial statements for the fiscal years ended February 28, 2025 and February 29, 2024 should no longer be relied upon.
Management disagrees that its historical treatment was clearly incorrect and views the issue as a matter of professional judgment. The Board is evaluating BDO’s position and has not concluded that restatements are required or that past financial statements are unreliable. The company plans to engage a new independent auditor and an independent accounting advisory firm to review the preferred stock accounting. The holder has contributed the preferred shares to capital and they have been cancelled, though this does not resolve the historical accounting question.
Norris Industries, Inc. filed a current report describing a change in its independent auditor and highlighting internal control issues. On February 9, 2026, the board dismissed BDO USA, P.C. as the company’s independent registered public accounting firm. BDO had not yet issued an audit report for any fiscal period; prior audits for the years ended February 28, 2025 and February 29, 2024 were performed by HORNE LLP, whose reports contained no adverse opinions, disclaimers, or qualifications.
The company reports a disagreement with BDO over whether its outstanding Series A Convertible Preferred Stock should be classified as permanent equity or temporary (mezzanine) equity. Beyond this matter, it discloses several material weaknesses in internal control, including lack of US GAAP-experienced accounting personnel, missing policies for timely and accurate reporting of significant agreements and transactions, absence of an independent audit committee, and insufficient staff to properly segregate accounting duties. As of this report, Norris Industries has not yet engaged a new independent registered public accounting firm.