NRIS — what changed in the latest 10-Q
A section-by-section comparison of NRIS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-15 vs the prior 10-Q · 2026-03-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −10 | ~6 | 27 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 5 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-15
Operating expenses for the three months ended May 31, 2026, and 2025 were 299,534 and $232,830, respectively. Our lease operating expenses increased to $148,432 for the three-month period ended May 31, 2026, compared to $134,937 for the three-month period ended May 31, 2025, that was primarily relat…
Net cash used in operating activities during the three months ended May 31, 2026, was $211,513, compared to cash used in operating activities of $98,239 for the same period in 2025.
Net cash provided by financing activities for three months ended May 31, 2026, and 2025 was $200,000 and $100,000, respectively.
The Company will require additional financing to support its operations and to pursue its acquisition program. As of May 31, 2026, the Company had availability of $800,000 on its existing credit line with JBB due to a recent increase of its availability from its Lender. If the Company requires addit…
The loan agreement was amended on November 12, 2025, to increase available borrowing to $4,700,000. During the three months ended May 31, 2026, the JBB advanced $200,000 to fund the Company’s operations under the Loan Note. As of May 31, 2026, the Company had availability of $800,000 on its existing…
Text removed vs the prior filing · source: 10-Q · 2026-03-10
Operating expenses for the three months ended November 30, 2025, and 2024 were $182,361 and $188,536, respectively. Our lease operating expenses decreased to $107,591 for the three-month period ended November 30, 2025, compared to $147,192 for the three-month period ended November 30, 2024, that was…
Comparison of the Nine Months Ended November 30, 2025 with the Nine Months Ended November 30, 2024
The Company generated revenues of $231,386 from oil and gas sales for the nine months ended November 30, 2025, compared to $259,018 for the nine months ended November 30, 2024. The decrease in revenues mainly attributable to lower production in the nine months ended November 30, 2025 than in the nin…
Operating expenses for the nine months ended November 30, 2025, and 2024 were $622,778 and $584,317, respectively. Our lease operating expenses decreased and were $362,244 for the nine-month period ended November 30, 2025, compared to $387,825 for the nine-month period ended November 30, 2024, that …
For the nine months ended November 30, 2025, and 2024, the Company recorded depletion and accretion expense of $29,050 and $65,705, respectively, related to a decreased of production from its oil and gas properties.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice