Here are the 10-Q quarterly reports from Norris Industries Inc (NRIS) 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-Q covers the quarterly report filed between annual reports, so if you follow NRIS 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 NRIS filings page.
Norris Industries, Inc. (NRIS) recorded oil and gas revenue of $175,363 for the six months ended August 31, 2026, versus $177,158 in 2025. Net loss was $403,621, versus $319,297, and operating loss was $335,213, versus $263,259. Operating activities used $310,540 of cash, compared with $245,304 a year earlier. Related-party lender JBB advanced $400,000; approximately $600,000 remained available on its credit line as of August 31, 2026.
At August 31, 2026, cash was $134,836, negative working capital was approximately $83,000, and notes payable to JBB totaled $4,100,000. Management believes cash and available credit can fund costs for the 12 months following issuance, but says additional financing is required for operations and acquisitions. If funding is unavailable and historical losses continue, management says substantial doubt would exist about the company’s ability to continue. Disclosure controls were deemed not effective due to material weaknesses in accounting expertise, review procedures, audit committee oversight and separation of accounting duties; no active remediation plan is in operation.
Norris Industries, Inc., a small Texas-focused oil and gas producer, reported oil and gas revenues of $90,358 for the three months ended May 31, 2026, with a net loss of $242,318 driven by higher lease operating and professional fees. Operating expenses rose to $299,534, and interest expense on related-party debt was $33,142.
As of May 31, 2026, the company held $126,248 in total assets against $5,217,297 in liabilities, resulting in a stockholders’ deficit of $5,091,049. Cash was $33,863, after using $211,513 in operating cash and receiving $200,000 in advances under a convertible credit facility from its largest shareholder, JBB, leaving $800,000 of borrowing availability and extending maturity to January 18, 2028.
The company continues to incur recurring losses and low production, has plugged four unprofitable wells, and is limiting spending largely to basic maintenance while reviewing acquisition and diversification options. Management states that, based on cash and credit availability, prior substantial doubt about continuing as a going concern has been alleviated, but the business remains dependent on external financing. Significant material weaknesses in internal control over financial reporting persist, including lack of GAAP-experienced accounting staff, no audit committee, and inadequate segregation of duties.
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 (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.