Northern Minerals Widens Net Loss 48% to $173,265 in First Half of FY2025
The Nevada-based oil and gas producer posted a net loss of $173,265 for the six months ending January 31, 2026, up from a loss of $116,797 in the same period a year earlier.
Northern Minerals & Exploration Ltd., a natural resource company operating oil and gas production in central Texas and Oklahoma, reported a net loss of $173,265 for the six months ending January 31, 2026, compared to a net loss of $116,797 in the same period a year earlier. The company generated gross profit of $2,000 during the first half, up from zero in the prior-year period. Read more earnings reports.
Operating expenses surged to $163,756 for the six-month period, up 47% from $111,001 a year earlier. The company recorded an operating loss of $161,756, compared to an operating loss of $111,001 in the prior-year period.
For the most recent quarter ending January 31, 2026, Northern Minerals posted a net loss of $110,057, compared to a loss of $39,335 in the same quarter a year earlier. The company reported gross profit of $1,891 against cost of revenue of $7,563 during the quarter. Operating expenses for the quarter reached $104,220, up from $36,399 in the year-earlier quarter.
Interest expense totaled $8,352 for the six-month period, up from $5,796 a year earlier. The company reported no income tax expense for either period.
Cash Flow and Balance Sheet
Cash used in operations totaled $135,340 for the six months ending January 31, 2026, compared to $82,652 in the prior-year period. Cash used in investing activities was $42,139, while the company generated $182,000 from financing activities during the period.
Total assets stood at $219,712 as of January 31, 2026, up from $162,265 at the end of July 2025. Property, plant and equipment remained flat at $151,456. Current assets increased to $29,274 from $10,809, driven in part by a jump in accounts receivable to $20,694 from $6,750.
Total liabilities climbed to $572,825 from $385,613 over the same period. Current liabilities reached $170,825, up from $111,449, with accounts payable rising to $71,369 from $45,422.
Stockholders' deficit widened to $353,113 as of January 31, 2026, from a deficit of $223,348 at the end of July 2025. Retained deficit expanded to $4,095,060 from $3,921,795. The company had 111,488,932 common shares outstanding as of January 31, 2026, compared to 107,238,932 at the end of July 2025.
Key Financial Metrics
| Item | Six Months Ended Jan 31, 2026 | Six Months Ended Jan 31, 2025 |
|---|---|---|
| Gross Profit | $2,000 | $0 |
| Operating Loss | ($161,756) | ($111,001) |
| Net Loss | ($173,265) | ($116,797) |
| Cash from Operations | ($135,340) | ($82,652) |
| Total Assets | $219,712 | $162,265* |
| Total Liabilities | $572,825 | $385,613* |
| Stockholders' Deficit | ($353,113) | ($223,348)* |
*As of July 31, 2025