Norris Industries net loss widens to $242,318 in Q1 FY26
NRIS•Operations and outlook
Management said it plugged four unprofitable wells and plans to keep spending limited to basic maintenance. The company also reported $800,000 of remaining availability on its JBB credit line.
Cash position and financing
Cash on hand totaled $33,863. Operating cash outflow widened to $211,513, partly offset by $200,000 in financing proceeds.
Quarterly results and costs
Norris Industries posted a net loss of $242,318 for the quarter ended May 31, 2026, as revenue edged down to $90,358.
Operating expenses climbed to $299,534 from $232,830 a year earlier, driven by higher lease operating costs and professional fees. Interest expense rose to $33,142 from $27,348, reflecting higher related-party borrowings during the quarter.
