NRIS
Norris Industries, Inc.0.1390
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
15.05MP/E (TTM)
-Basic EPS (TTM)
-0.01Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
Norris Industries posted Q3 FY2026 oil and gas sales of $54K, down 34% y/y from $82K yet flat q/q amid lower production; nine-month revenue fell 11% y/y to $231K. Operating loss widened to $128K from $107K y/y, driven by $52K plug-and-abandonment charges on four unprofitable wells, while lease expenses dropped 27% y/y. Net loss held steady at $158K, with interest expense halved to $30K post prior debt-to-equity conversion; EPS $(0.00) aligns with 108M diluted shares. Cash ticked to $89K, bolstered by $400K related-party draws against $1M JBB revolver availability (maturing 2027 at 5% APR), but ops burned $397K YTD. Oil properties net fell to $192K. Plugged weak wells. Low reserves heighten funding risks.
8-K
Preferred shares contributed to capital
8-K
New auditor engaged
Norris Industries engaged Sadler, Gibb & Associates as its new independent auditor on February 24, 2026, replacing BDO USA, PC, with board approval on February 13. No prior consultations, disagreements, or reportable events with Sadler Gibb over the last two fiscal years. Clean switch. Signals fresh oversight amid routine changes.
8-K
Auditor flags unreliable financials
Norris Industries disclosed on February 12, 2026, that former auditor BDO deems its financials for fiscal years ended February 28, 2025, and February 29, 2024, unreliable due to misclassification of Class A Preferred Stock in permanent equity. The Board is evaluating restatement needs while contesting BDO's view as differing judgment; Preferred Stock was later cancelled. Outcome uncertain.
8-K
Dismisses BDO over equity dispute
Norris Industries dismissed BDO as its auditor on February 9, 2026, over a disagreement on classifying Series A Convertible Preferred Stock as permanent or mezzanine equity. Prior HORNE audits for fiscal years ended February 28, 2025, and February 29, 2024, were clean. No new auditor engaged yet. Four material weaknesses plague accounting controls.
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