Norris Industries Reports Decline in Revenue and Increased Losses for Q3 and Nine Months Ended November 30, 2025

Norris Industries, Inc. reported a decline in financial performance for the three and nine months ended November 30, 2025, compared to the same periods in the previous year. The company generated revenues of $54,228 for the third quarter of 2025, down from $81,744 in 2024, and total revenues for the nine-month period decreased to $231,386 from $259,018. The decrease in revenue is attributed primarily to lower oil and gas production. The company also reported a net loss of $158,177 for the third quarter and $477,474 for the nine months, compared to losses of $156,461 and $443,354, respectively, in the prior year.

In terms of operational metrics, Norris Industries experienced a reduction in oil and gas production, which directly impacted revenue figures. The company’s lease operating expenses decreased to $107,591 for the third quarter of 2025, down from $147,192 in 2024, reflecting lower variable costs. However, general and administrative expenses increased to $16,826 from $26,851, primarily due to higher professional fees. The company also recognized a plug and abandonment loss of $52,476 in the third quarter, resulting from costs associated with plugging four unprofitable wells.

The company’s balance sheet as of November 30, 2025, showed total assets of $335,925, a decrease from $360,335 at the end of the previous fiscal period. Current liabilities increased to $141,459 from $126,355, and total liabilities rose to $4,919,934 from $4,466,870. The company’s stockholders’ deficit also widened to $5,334,009 from $4,856,535, reflecting ongoing financial challenges. As of the reporting date, Norris Industries had cash on hand of $88,690 and a working capital of approximately $3,000.

Strategically, Norris Industries is focusing on enhancing cash flow by developing existing fields and selectively considering larger-reserve oil and gas properties for acquisition. The company has plans to implement Enhanced Oil Recovery (EOR) methods to improve revenues and is actively seeking acquisition opportunities in oilfield services and other sectors to diversify its growth strategy. However, the company acknowledges the impact of geopolitical events and market volatility on its operations and financial outlook. Management has indicated that additional financing will be necessary to support operations and pursue acquisition programs, with a current availability of $1,000,000 on its credit line with JBB.

Looking ahead, Norris Industries aims to increase shareholder value by growing reserves, production, and cash flow. The company plans to continue its operational review and may seek additional capital through equity or debt financing. However, management has expressed concerns about the ability to secure necessary funding, which could lead to operational cutbacks if financial conditions do not improve. The company remains committed to its strategic objectives while navigating the challenges posed by market conditions and operational constraints.