Company research
NXT Energy Solutions Inc.
CIK 1009922Updated Sep 27, 2026
SecuritiesNSFDF · OTC · equitySFD · TSX · equity
Name history
ENERGY EXPLORATION TECHNOLOGIES / · through Sep 22, 2008PINNACLE OIL INTERNATIONAL INC · through May 15, 2000
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Recent filings
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Financials
FY 2024 · CADSource
Source
Source
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balance sheet · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsCAD | 14,026,301Source | 15,184,760Source | 15,575,295Source | 21,584,371Source |
| Property, Plant and Equipment, NetCAD | 375,777Source | 515,809Source | 544,446Source | 624,763Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueCAD | — | — | 263,437Source | 2,257,855Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentCAD | 105,858Source | 1,828,523Source | 57,065Source | 841,567Source |
| Assets, CurrentCAD | 1,111,052Source | 2,283,909Source | 356,659Source | 3,914,858Source |
| Prepaid Expense and Other Assets, CurrentCAD | 274,799Source | 53,673Source | — | — |
| Operating Lease, Right-of-Use AssetCAD | 2,506,506Source | 665,130Source | 1,259,092Source | 1,943,252Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesCAD | 14,288,965Source | 6,639,351Source | 3,482,718Source | 3,425,566Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedCAD | 98,262,510Source | 98,179,271Source | 96,423,648Source | 95,779,352Source |
| Additional Paid in CapitalCAD | 9,739,322Source | 9,552,839Source | 9,404,518Source | 9,381,966Source |
| Retained Earnings (Accumulated Deficit)CAD | -108,264,496Source | -99,186,701Source | -93,735,589Source | -87,002,513Source |
| Stockholders' Equity Attributable to ParentCAD | -262,664Source | 8,545,409Source | 12,092,577Source | 18,158,805Source |
| Liabilities and EquityCAD | 14,026,301Source | 15,184,760Source | 15,575,295Source | 21,584,371Source |
| Current liabilities: | ||||
| Liabilities, CurrentCAD | 7,794,708Source | 4,133,931Source | 2,037,662Source | 1,098,376Source |
| Operating Lease, Liability, CurrentCAD | 693,607Source | 343,513Source | 650,315Source | 532,936Source |
| Operating Lease, Liability, NoncurrentCAD | 1,607,935Source | 252,004Source | 824,074Source | 935,185Source |
| Additional Financial Items | ||||
| Accounts Receivable, after Allowance for Credit LossCAD | 105,858Source | 1,828,523Source | 57,065Source | 841,567Source |
| Accrued Liabilities, CurrentCAD | 1,043,596Source | 1,017,117Source | 1,156,276Source | 397,279Source |
| Deferred Revenue, CurrentCAD | 840,768Source | — | — | — |
| Long-term Debt, Current MaturitiesCAD | 111,111Source | 111,111Source | 111,111Source | 64,815Source |
| Long-term Debt, Excluding Current MaturitiesCAD | 601,852Source | 712,963Source | 824,074Source | 935,185Source |
| Short-term InvestmentsCAD | — | — | 0Source | 550,000Source |
cash flow · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestCAD | 9,077,795Source | — | -6,733,076Source | -3,123,799Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseCAD | 268,734Source | 241,271Source | 215,284Source | 287,900Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableCAD | 1,722,665Source | -1,835,922Source | 784,502Source | 123,587Source |
| Deferred Income Tax Expense (Benefit)CAD | 0Source | 0Source | 0Source | -463,342Source |
| Net Cash Provided by (Used in) Operating ActivitiesCAD | -3,969,591Source | -4,831,950Source | -2,934,004Source | -1,033,173Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesCAD | -27,029Source | -32,322Source | 550,000Source | -274,049Source |
| Payments to Acquire Property, Plant, and EquipmentCAD | 27,029Source | 32,322Source | — | 0Source |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesCAD | 4,305,807Source | 5,009,117Source | 389,217Source | 875,428Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectCAD | 328,682Source | 138,276Source | -1,994,418Source | -432,291Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsCAD | 730,395Source | 401,713Source | 263,437Source | — |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesCAD | 548,756Source | 120,952Source | — | — |
| Income Taxes Paid, NetCAD | 0Source | 0Source | 0Source | 0Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsCAD | 19,495Source | -6,569Source | 369Source | -497Source |
| Additional Financial Items | ||||
| Accretion ExpenseCAD | — | 2,456Source | — | — |
| Amortization of Intangible AssetsCAD | 68,902,000,000Source | 68,902,000,000Source | — | 68,902,000,000Source |
| Asset Retirement Obligation, Accretion ExpenseCAD | 2,069Source | 2,069Source | 2,069Source | 2,069Source |
| Foreign Currency Transaction Gain (Loss), RealizedCAD | 574,106Source | -8,028Source | -15,340Source | 8,597Source |
| Foreign Currency Transaction Gain (Loss), UnrealizedCAD | 659,257Source | -25,451Source | 231,161Source | 150,039Source |
| Gain (Loss) on Disposition of AssetsCAD | 135,455Source | 0Source | 11,921Source | — |
| General and Administrative ExpenseCAD | 4,045,778Source | 3,420,143Source | 3,736,431Source | 3,189,857Source |
| Income Tax Expense (Benefit)CAD | 0Source | 0Source | 0Source | 0Source |
| Market Risk Benefit, Change in Fair Value, Gain (Loss)CAD | 296,534Source | — | — | — |
| Net Income (Loss) Attributable to ParentCAD | -9,077,495Source | -5,451,112Source | -6,733,076Source | -3,123,799Source |
| Operating ExpensesCAD | 7,954,559Source | 7,428,742Source | 6,683,341Source | 6,190,509Source |
| Other Nonoperating Income (Expense)CAD | 1,767,530Source | -168,086Source | — | — |
| Proceeds from Issuance of Common StockCAD | 41,620Source | 36,246Source | 49,738Source | 69,259Source |
| Proceeds from Issuance of Long-term DebtCAD | — | — | 64,815Source | 1,000,000Source |
income statement · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Total RevenueCAD | 644,294Source | 2,145,716Source | 0Source | 3,134,250Source |
| Other Nonoperating Income (Expense)CAD | 1,767,530Source | -168,086Source | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestCAD | -9,077,795Source | -5,451,112Source | -6,733,076Source | -3,123,799Source |
| Income Tax Expense (Benefit)CAD | 0Source | 0Source | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentCAD | -9,077,495Source | -5,451,112Source | -6,733,076Source | -3,123,799Source |
| Earnings Per Share, BasicCAD/shares | -0.12Source | -0.07Source | -0.1Source | -0.05Source |
| Earnings Per Share, DilutedCAD/shares | -0.12Source | -0.07Source | -0.1Source | -0.05Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 78,271,095Source | 77,646,094Source | 65,602,875Source | 64,658,380Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 78,271,095Source | 77,646,094Source | 65,602,875Source | 64,658,380Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsCAD | 68,902,000,000Source | 68,902,000,000Source | — | 68,902,000,000Source |
| Depreciation, Depletion and Amortization, NonproductionCAD | 1,887,013Source | 1,759,473Source | 1,768,727Source | 1,776,484Source |
| Foreign Currency Transaction Gain (Loss), RealizedCAD | 574,106Source | -8,028Source | -15,340Source | 8,597Source |
| General and Administrative ExpenseCAD | 4,045,778Source | 3,420,143Source | 3,736,431Source | 3,189,857Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticCAD | -9,077,795Source | -5,451,112Source | -6,733,076Source | -3,123,799Source |
| Interest ExpenseCAD | 750,611Source | 160,262Source | — | — |
| Interest Expense, DebtCAD | 441,986Source | 107,792Source | — | — |
| Interest Income (Expense), NetCAD | — | — | 36,220Source | 37,955Source |
| Management Fee ExpenseCAD | 182,500Source | — | — | — |
| Market Risk Benefit, Change in Fair Value, Gain (Loss)CAD | 296,534Source | — | — | — |
| Operating ExpensesCAD | 7,954,559Source | 7,428,742Source | 6,683,341Source | 6,190,509Source |
| Other Cost and Expense, OperatingCAD | 2,021,768Source | 2,249,126Source | 1,178,183Source | 1,224,168Source |
| Other ExpensesCAD | — | — | — | 74,270Source |