10-Q Filing

NEXT FUEL, INC. CIK: 1422949 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-002513`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	nxfi-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 81 Cash Flow Statement 50 Stockholders Equity 9

Balance Sheet 40 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.92M	USD	Point-in-time
Cash	`Cash`	$3.11M	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$45.56K	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$96.94K	USD	Point-in-time
Stock Subscriptions Receivable	`OtherAssetsCurrent`	$55.50K	USD	Point-in-time
Stock Subscriptions Receivable	`OtherAssetsCurrent`	-	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$21.18K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$31.46K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.04M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$23.20K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$22.25K	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`	$75.01K	USD	Point-in-time
Security Deposit	`DepositsAssetsCurrent`	-	USD	Point-in-time
Total Assets	`Assets`	$2.14M	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`	$48.26K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$4.93K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$3.43K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	-	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`	$51.69K	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 5)	`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, 11,172,500 and 10,972,500 issued and outstanding, respectively	`CommonStockValue`	$1.12K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 11,172,500 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`	$25.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.50M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.09M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.15M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.14M	USD	Point-in-time

Income Statement 81 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$96.28K	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$45.56K	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$96.28K	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$45.56K	USD	2 Qtrs
Contract Income	`ContractsRevenue`	$20.00K	USD	2 Qtrs
Contract Income	`ContractsRevenue`	-	USD	1 Quarter
Contract Income	`ContractsRevenue`	-	USD	1 Quarter
License Fee Income	`LicenseAndServicesRevenue`	$25.00K	USD	1 Quarter
License Fee Income	`LicenseAndServicesRevenue`	$50.00K	USD	2 Qtrs
License Fee Income	`LicenseAndServicesRevenue`	-	USD	2 Qtrs
License Fee Income	`LicenseAndServicesRevenue`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	$40.00K	USD	2 Qtrs
Consulting Income	`RevenueOtherFinancialServices`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	-	USD	2 Qtrs
Consulting Income	`RevenueOtherFinancialServices`	-	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$96.28K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$70.56K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$115.56K	USD	2 Qtrs
Total Revenues	`SalesRevenueNet`	$136.28K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$75.90K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$121.32K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$43.39K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$75.90K	USD	1 Quarter
Gross Profit	`GrossProfit`	$20.38K	USD	1 Quarter
Gross Profit	`GrossProfit`	$60.38K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$27.17K	USD	1 Quarter
Gross Profit	`GrossProfit`	$-5.76K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$324.91K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$134.63K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$118.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$243.24K	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$42.50K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$19.67K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$25.11K	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$42.50K	USD	2 Qtrs
Salary Expense	`SalariesAndWages`	$473.72K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$289.11K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$569.53K	USD	2 Qtrs
Salary Expense	`SalariesAndWages`	$692.34K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$515.66K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$246.26K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$210.38K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$365.77K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$695.99K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.56M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.22M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$838.39K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.16M	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-811.23K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-675.60K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.56M	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$2.02K	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$641.00	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$1.69K	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$830.00	USD	1 Quarter
Interest Expense	`InterestExpense`	$6.00	USD	1 Quarter
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$60.00	USD	2 Qtrs
Interest Expense	`InterestExpense`	-	USD	2 Qtrs
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$635.00	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$2.02K	USD	2 Qtrs
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$830.00	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$1.63K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-674.97K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.56M	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.16M	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-810.39K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.56M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.16M	USD	2 Qtrs
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	2 Qtrs
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	2 Qtrs
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.56M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.56M	shares	2 Qtrs
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.98M	shares	2 Qtrs
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.99M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.56M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-1.16M	USD	2 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$5.50K	USD	2 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$44.85K	USD	2 Qtrs
Compensation expense on stock options	`StockOptionPlanExpense`	$397.02K	USD	2 Qtrs
Compensation expense on stock options	`StockOptionPlanExpense`	$216.06K	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$3.10K	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.15K	USD	2 Qtrs
Impairment of inventory	`OtherAssetImpairmentCharges`	-	USD	2 Qtrs
Impairment of inventory	`OtherAssetImpairmentCharges`	$-58.94K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$48.14K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-51.39K	USD	2 Qtrs
Increase in stock subscriptions receivable	`IncreaseDecreaseInOtherCurrentAssets`	$-55.50K	USD	2 Qtrs
Increase in stock subscriptions receivable	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Decrease in inventory	`IncreaseDecreaseInInventories`	$-58.94K	USD	2 Qtrs
Decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.28K	USD	2 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-5.94K	USD	2 Qtrs
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.32K	USD	2 Qtrs
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	2 Qtrs
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.33K	USD	2 Qtrs
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-61.09K	USD	2 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$-1.50K	USD	2 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$2.12K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-40.00K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-50.00K	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.17M	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.08M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.15K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$680.00	USD	2 Qtrs
Security deposit	`SecurityDepositOnCreditCards`	-	USD	2 Qtrs
Security deposit	`SecurityDepositOnCreditCards`	$-75.01K	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.16K	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-680.00	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.50K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$55.50K	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$85.00K	USD	2 Qtrs
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.19M	USD	2 Qtrs
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-996.50K	USD	2 Qtrs
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$60.00	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.09M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.15M	USD	Point-in-time
Share based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$397.02K	USD	2 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$44.85K	USD	2 Qtrs
Exercise of warrants	`StockholdersEquityOther`	$55.50K	USD	2 Qtrs
Net loss for the six months ended March 31, 2013	`NetIncomeLoss`	$-1.56M	USD	2 Qtrs
Net loss for the six months ended March 31, 2013	`NetIncomeLoss`	$-1.16M	USD	2 Qtrs
Balance, March 31, 2013	`StockholdersEquity`	$2.09M	USD	Point-in-time
Balance, March 31, 2013	`StockholdersEquity`	$3.15M	USD	Point-in-time

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