10-Q Filing

NEXT FUEL, INC. CIK: 1422949 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-000709`
Period End Date	20121231
Filing Date	20130214
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	nxfi-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 42 Cash Flow Statement 45 Stockholders Equity 8

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.47M	USD	Point-in-time
Cash	`Cash`	$3.11M	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$56.94K	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$96.94K	USD	Point-in-time
Inventory, net	`InventoryNet`	-	USD	Point-in-time
Inventory, net	`InventoryNet`	$43.39K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$31.46K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$49.10K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.62M	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`	$22.17K	USD	Point-in-time
Intangibles (Note 2(B))	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangibles (Note 2(B))	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Security Deposit	`DepositsAssetsCurrent`	-	USD	Point-in-time
Security Deposit	`DepositsAssetsCurrent`	$75.00K	USD	Point-in-time
Total Assets	`Assets`	$2.72M	USD	Point-in-time
Total Assets	`Assets`	$3.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$53.59K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$194.17K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$862.00	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$4.93K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$50.00K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$25.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$220.03K	USD	Point-in-time
Total Liabilities	`Liabilities`	$108.52K	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, 10,987,500 and 10,972,500 issued and outstanding, respectively	`CommonStockValue`	$1.46M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,987,500 and 10,972,500 issued and outstanding, respectively	`CommonStockValue`	$1.10K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,987,500 and 10,972,500 issued and outstanding, respectively	`CommonStockValue`	$1.22M	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 10,987,500 and 10,972,500 issued and outstanding, respectively	`CommonStockValue`	$1.10K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.69M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.50M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.72M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Contract Income	`ContractsRevenue`	$20.00K	USD	1 Quarter
Contract Income	`ContractsRevenue`	-	USD	1 Quarter
License Fee Income	`LicenseAndServicesRevenue`	$25.00K	USD	1 Quarter
License Fee Income	`LicenseAndServicesRevenue`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	$40.00K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$45.00K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$40.00K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$77.93K	USD	1 Quarter
Gross Profit	`GrossProfit`	$40.00K	USD	1 Quarter
Gross Profit	`GrossProfit`	$-32.93K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$125.13K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$190.28K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$5.44K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$218.62K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$280.42K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$119.50K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$305.28K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$719.63K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$525.05K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-752.56K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-485.05K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$1.05K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$1.19K	USD	1 Quarter
Interest Expense	`InterestExpense`	$54.00	USD	1 Quarter
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$992.00	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$1.19K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-484.06K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-751.37K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-484.06K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-751.37K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.97M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`ProfitLoss`	$-484.06K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-751.37K	USD	1 Quarter
Common stock issued for services	`ShareBasedCompensation`	$5.50K	USD	1 Quarter
Common stock issued for services	`ShareBasedCompensation`	$44.85K	USD	1 Quarter
Compensation expense on stock options	`StockOptionPlanExpense`	$128.00K	USD	1 Quarter
Compensation expense on stock options	`StockOptionPlanExpense`	$57.18K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$566.00	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.57K	USD	1 Quarter
Impairment of inventory	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.00K	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Increase in inventory	`IncreaseDecreaseInInventories`	$43.39K	USD	1 Quarter
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.60K	USD	1 Quarter
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$17.63K	USD	1 Quarter
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.69K	USD	1 Quarter
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$140.58K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-59.01K	USD	1 Quarter
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$-4.07K	USD	1 Quarter
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$2.28K	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-40.00K	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-25.00K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-557.28K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-444.65K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$536.00	USD	1 Quarter
Security deposit	`SecurityDepositOnCreditCards`	-	USD	1 Quarter
Security deposit	`SecurityDepositOnCreditCards`	$-75.00K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-75.54K	USD	1 Quarter
Cash Flows From Financing Activities:	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Cash Flows From Financing Activities:	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-632.82K	USD	1 Quarter
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-444.65K	USD	1 Quarter
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$54.00	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.50M	USD	Point-in-time
Share based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$57.18K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$44.85K	USD	1 Quarter
Net loss for the three months ended December 31, 2012	`ProfitLoss`	$-484.06K	USD	1 Quarter
Net loss for the three months ended December 31, 2012	`ProfitLoss`	$-751.37K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.50M	USD	Point-in-time

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