Norris Industries, Inc. Announces Q3 2025 Results: Continued Losses, Liquidity Concerns, and Segment Disclosure Changes

Key Points from the Q3 2025 SEC Filing

• Quarterly Report for the period ended November 30, 2025:
  Norris Industries, Inc. filed its Form 10-Q for the nine months ended November 30, 2025.
• Common Stock Information:
  As of March 10, 2026, the company had 108,245,605 shares of common stock issued and outstanding, trading under the symbol NRIS on OTCMKTS.
• Filer Status:
  Norris Industries is classified as a Non-accelerated filer and a Smaller reporting company.
• Shell Company Status:
  The company is not a shell company.

Financial Performance Overview

• Net Loss:
  The company reported a net loss of \$477,474 for the nine months ended November 30, 2025, compared to a net loss of \$365,354 for the same period in 2024. This indicates losses are increasing year-over-year.
• Stockholders’ Deficit:
  As of November 30, 2025, total stockholders’ deficit was \$5,334,009, worsening from \$4,738,315 at November 30, 2024. This continued deficit highlights ongoing financial challenges.
• Retained Earnings (Accumulated Deficit):
  The accumulated deficit increased to \$12,351,305 as of November 30, 2025, from \$11,755,611 a year prior.
• Cash Position:
  The company’s cash position remains limited, and its ability to continue as a going concern depends on its ability to raise capital and manage liquidity.
• Weighted Average Shares Outstanding:
  Weighted average number of shares for the nine months ended November 30, 2025 was 108,245,688, compared to 91,904,104 for the same period in 2024, reflecting share issuance activity.
• Antidilutive Securities:
  For the nine months ended November 30, 2025, 88,916,667 shares were excluded from the calculation of diluted net loss per share, as their inclusion would be anti-dilutive. This includes convertible debt and other potentially issuable shares.

Liquidity and Going Concern Risks

The company’s financial statements are prepared assuming Norris Industries will continue as a going concern. However, continued losses since 2016 and a worsening deficit raise substantial doubts about the company’s ability to continue operations for the next twelve months. Management notes that ongoing global conflicts (such as recent events in the Middle East) could further impact operations, though the magnitude and timeline are currently unknown.

Risks and Uncertainties

• Business Risks:
  Norris Industries is subject to significant financial, operational, and technological risks associated with running an emerging business. There is a risk of business failure if losses continue and liquidity cannot be restored.
• Potential Impact on Share Price:
  The continued accumulation of losses, increasing deficit, and uncertain liquidity position are material concerns that may affect investor confidence and could drive share price volatility.
• Credit Risk Concentrations:
  The company discloses concentrations of credit risk, though specific customer or partner exposures are not detailed in this filing.

Accounting Standards Updates & Segment Reporting

• Adoption of ASU 2023-07:
  Norris Industries has adopted new segment reporting standards (ASU 2023-07), which require enhanced disclosure of segment expenses and other items. This change increases transparency but does not materially impact reported financials.
• Forthcoming Standards:
  New guidance (ASU 2024-03) will require more disaggregated income statement expense disclosures, effective for years beginning after December 15, 2026.

Shareholder Actions and Outlook

• Capital Raising:
  The company’s survival is contingent on raising additional capital. Investors should expect continued dilution risk and potential volatility as Norris seeks financing or restructuring.
• Price Sensitivity:
  Persistent losses, worsening deficit, and going concern doubt are material, price-sensitive facts. Investors should monitor for any financing updates, restructuring announcements, or changes in business operations.
• Legal, Regulatory, and Other Matters:
  No unregistered sales of securities or material defaults are disclosed. Legal proceedings, risk factors, mine safety disclosures, and other items are referenced, but no new material events are highlighted in this filing.

Conclusion

Norris Industries, Inc. continues to face significant challenges, including sustained net losses, an increasing stockholders’ deficit, and a material risk to its ability to continue as a going concern. Shareholders should be aware that these issues may impact share value and should monitor future filings for updates on liquidity events, capital raises, or any restructuring activity.

Disclaimer: This article is based on Norris Industries, Inc.’s Q3 2025 SEC filing and is intended for informational purposes only. It does not constitute investment advice. Investors are encouraged to conduct their own research and consult with financial advisors before making investment decisions. Norris Industries, Inc. faces substantial risks and uncertainties, as described above, which may affect future performance and share value.

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