10-K Filing

NEXT FUEL, INC. CIK: 1422949 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001213900-12-006901`
Period End Date	20120930
Filing Date	20121219
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	nxfi-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 44 Cash Flow Statement 67 Stockholders Equity 41

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.12M	USD	Point-in-time
Cash	`Cash`	$3.11M	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$96.94K	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Employee Advances	`OtherPrepaidExpenseCurrent`	-	USD	Point-in-time
Employee Advances	`OtherPrepaidExpenseCurrent`	$5.58K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$28.87K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$31.46K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.15M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.24M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$23.20K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$6.47K	USD	Point-in-time
Intangibles (Note 2(B)	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangibles (Note 2(B)	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Total Assets	`Assets`	$2.16M	USD	Point-in-time
Total Assets	`Assets`	$3.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$167.78K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$53.59K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$4.93K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$40.00K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$50.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$108.52K	USD	Point-in-time
Total Liabilities	`Liabilities`	$207.78K	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 100,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 100,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.10K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$85.00K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.46M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.21K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.20M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.90M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$1.22M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,972,500 and 12,052,500 issued, and 10,972,500 and 9,552,500 outstanding	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.64M	USD	Point-in-time
Less: Treasury stock; 0 and 2,500,000, respectively	`TreasuryStockValue`	$93.00K	USD	Point-in-time
Less: Treasury stock; 0 and 2,500,000, respectively	`TreasuryStockValue`	-	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$19.59M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$21.94M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-294.17K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.16M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$193.23K	USD	Annual
Sales	`SalesRevenueGoodsNet`	$11.49K	USD	Annual
Contract Income	`ContractsRevenue`	-	USD	Annual
Contract Income	`ContractsRevenue`	$60.00K	USD	Annual
License Fee Income	`LicenseAndServicesRevenue`	-	USD	Annual
License Fee Income	`LicenseAndServicesRevenue`	$50.00K	USD	Annual
Consulting Income	`RevenueOtherFinancialServices`	-	USD	Annual
Consulting Income	`RevenueOtherFinancialServices`	$40.00K	USD	Annual
Total Revenues	`SalesRevenueNet`	$11.49K	USD	Annual
Total Revenues	`SalesRevenueNet`	$343.23K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$206.33K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$69.94K	USD	Annual
Gross Profit	`GrossProfit`	$136.90K	USD	Annual
Gross Profit	`GrossProfit`	$-58.45K	USD	Annual
Professional fees	`ProfessionalFees`	$592.50K	USD	Annual
Professional fees	`ProfessionalFees`	$713.88K	USD	Annual
Research and development costs	`ResearchAndDevelopmentExpense`	$68.84K	USD	Annual
Research and development costs	`ResearchAndDevelopmentExpense`	$17.65M	USD	Annual
Contribution Expense	`ContributionExpenses`	$100.00K	USD	Annual
Contribution Expense	`ContributionExpenses`	$100.00	USD	Annual
Salary Expense	`SalariesAndWages`	$263.50K	USD	Annual
Salary Expense	`SalariesAndWages`	$984.84K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$842.59K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$281.70K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$19.01M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.49M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-19.07M	USD	Annual
Loss from Operations	`OperatingIncomeLoss`	$-2.35M	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$4.48K	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$1.69K	USD	Annual
Interest Expense	`InterestExpense`	$64.78K	USD	Annual
Interest Expense	`InterestExpense`	$60.00	USD	Annual
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$4.42K	USD	Annual
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-63.09K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-19.13M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.35M	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`ProfitLoss`	$-19.13M	USD	Annual
NET LOSS	`ProfitLoss`	$-2.35M	USD	Annual
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-2.76	USD	Annual
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.93M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.19M	shares	Annual

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable that was converted into common stock shares	`ConvertibleDebt`	$50.00K	USD	Point-in-time
Common stock as a result of conversion of convertible debt, Shares	`DebtConversionConvertedInstrumentSharesIssued1`	500,000.00	shares	Point-in-time
Net Loss	`ProfitLoss`	$-19.13M	USD	Annual
Common stock as a result of conversion of convertible debt, Shares	`DebtConversionConvertedInstrumentSharesIssued1`	500,000.00	shares	Annual
Net Loss	`ProfitLoss`	$-2.35M	USD	Annual
Conversion rate of convertible notes payable into common stock shares	`DebtInstrumentConvertibleConversionPrice1`	$0.10	USD	Point-in-time
Conversion rate of convertible notes payable into common stock shares	`DebtInstrumentConvertibleConversionPrice1`	$0.10	USD	Point-in-time
Common stock issued for services	`ShareBasedCompensation`	$27.50K	USD	Annual
Interest expense from beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual
Interest expense from beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$-50.00K	USD	Annual
Interest expense from beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$50.00K	USD	Point-in-time
Common stock issued for services	`ShareBasedCompensation`	$57.23K	USD	Annual
Common stock issued for intellectual property	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$17.64M	USD	Annual
Common stock issued for intellectual property	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Beneficial conversion feature in stock conversion	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual
Beneficial conversion feature in stock conversion	`DebtInstrumentConvertibleBeneficialConversionFeature`	$-50.00K	USD	Annual
Beneficial conversion feature in stock conversion	`DebtInstrumentConvertibleBeneficialConversionFeature`	$50.00K	USD	Point-in-time
In-kind contribution of services	`InKindContributionOfServices`	-	USD	Annual
In-kind contribution of services	`InKindContributionOfServices`	$289.60K	USD	Annual
In-kind contribution of interest	`PaidInKindInterest`	-	USD	Annual
In-kind contribution of interest	`PaidInKindInterest`	$12.82K	USD	Annual
Compensation expense on stock options	`StockOptionPlanExpense`	-	USD	Annual
Compensation expense on stock options	`StockOptionPlanExpense`	$415.75K	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$3.21K	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.31K	USD	Annual
Impairment of inventory	`OtherAssetImpairmentCharges`	$58.94K	USD	Annual
Impairment of inventory	`OtherAssetImpairmentCharges`	-	USD	Annual
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$96.94K	USD	Annual
Increase in inventory	`IncreaseDecreaseInInventories`	-	USD	Annual
Increase in inventory	`IncreaseDecreaseInInventories`	$58.94K	USD	Annual
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$28.87K	USD	Annual
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.59K	USD	Annual
(Decrease) in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.58K	USD	Annual
(Decrease) in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.58K	USD	Annual
(Decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-113.20K	USD	Annual
(Decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$156.99K	USD	Annual
Increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$3.95K	USD	Annual
Increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$10.00K	USD	Annual
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$40.00K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.06M	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-941.85K	USD	Annual
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.94K	USD	Annual
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.41K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.41K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.94K	USD	Annual
Proceeds from convertible note payabe	`ProceedsFromConvertibleDebt`	$50.00K	USD	Annual
Proceeds from convertible note payabe	`ProceedsFromConvertibleDebt`	-	USD	Annual
Repayments of loan payable	`RepaymentsOfLongTermDebt`	-	USD	Annual
Repayments of loan payable	`RepaymentsOfLongTermDebt`	$285.75K	USD	Annual
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$3.07M	USD	Annual
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$3.30M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.07M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.07M	USD	Annual
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$989.48K	USD	Annual
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.12M	USD	Annual
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$60.00	USD	Annual
Cash paid for interest	`InterestPaid`	$1.75K	USD	Annual
Cancelation of treasury shares	`ForfietureOfTreasuryShares`	-	USD	Annual
Cancelation of treasury shares	`ForfietureOfTreasuryShares`	$93.00K	USD	Annual

Stockholders Equity 41 line items

Line Item	Tag	Value	Unit	Period
Number of warrrants exercised	`NumberOfWarrrantsExercised`	425,000.00	shares	Annual
Conversion of Convertible Note to Shares of stock	`ConversionOfConvertibleNoteToSharesOfStock`	$50.00K	USD	Annual
Common stock shares issued for conversion of convertible note	`CommonStockSharesIssuedForConversionOfConvertibleNote`	500,000.00	shares	Annual
Common stock shares issued in exchange for intellectual property	`CommonStockSharesIssuedInExchangeForIntellectualProperty`	3.01M	shares	Annual
Warrants issued in exchnage for intellectual property	`WarrantsIssuedInExchangeForIntellectualProperty`	1.00M	shares	Annual
Warrants issued in exchnage for intellectual property	`WarrantsIssuedInExchangeForIntellectualProperty`	1.00M	shares	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-294.17K	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$5.50K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$27.50K	USD	Annual
Common stock issued for services (Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	-	shares	Annual
Common stock issued for services	`CommonStockIssuedForServicesFourPointZeroZeroPerShareValue`	$28.00K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	$23.73K	USD	Annual
Issuance of Stock Options	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$415.75K	USD	Annual
Exercise of 425,000 warrants	`StockholdersEquityOther`	$85.00K	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$2.99M	USD	Annual
Cancelation of treasury shares,value	`CancelationOfTreasurySharesValue`	-	USD	Annual
Common stock issued for cash	`CommonStockIssuedForCashZeroPointOneZeroPerShareValue`	$5.00K	USD	Annual
Common stock issued for cash, Shares	`StockIssuedDuringPeriodSharesNewIssues`	-	shares	Annual
Common stock issued for cash less stock offering costs	`CommonStockIssuedForCashLessStockOfferingCosts`	$95.96K	USD	Annual
Common stock issued for cash less stock offering costs (Shares)	`CommonStockIssuedForCashLessStockOfferingCostsShares`	-	shares	Annual
Common stock issued for cash	`CommonNewIssuesValue3PerShare`	$1.20M	USD	Annual
Common stock issued for cash (shares)	`CommonNewIssuesShares3PerShare`	-	shares	Annual
Common stock issued for cash	`CommonStockIssuedForCashValue2PerShare`	$2.00M	USD	Annual
Common stock issued for cash (shares)	`CommonStockIssuedForCashSharesTwoPerShare`	-	shares	Annual
Conversion of $50,000 convertible note to 500,000 shares of stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$50.00K	USD	Annual
Conversion of $50,000 convertible note to 500,000 shares of stock (Shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	-	shares	Annual
Benefical conversion of convertible note payable	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	$50.00K	USD	Annual
Issuance of 3,010,000 shares in exchange for intellectual property	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$13.39M	USD	Annual
Issuance of 3,010,000 shares in exchange for intellectual property (Shares)	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	300,000.00	shares	Point-in-time
Issuance of 3,010,000 shares in exchange for intellectual property (Shares)	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	-	shares	Annual
Issuance of 1,000,000 warrants in exchange for intellectual property	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$4.25M	USD	Annual
Value of service provided for the acquisition of intellectual property	`AdjustmentsToAdditionalPaidInCapitalOther`	$287.00K	USD	Annual
In kind contribution of interest	`InKindContributionOfInterest`	$12.82K	USD	Annual
In-kind contribution of services	`ShareBasedGoodsAndNonemployeeServicesTransactionExpense`	$2.60K	USD	Annual
Net Loss	`ProfitLoss`	$-19.13M	USD	Annual
Net Loss	`ProfitLoss`	$-2.35M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.95M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-294.17K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.