10-Q Filing

NEXT FUEL, INC. CIK: 1422949 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-004322`
Period End Date	20130630
Filing Date	20130814
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	nxfi-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 84 Cash Flow Statement 50 Stockholders Equity 11

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$3.11M	USD	Point-in-time
Cash	`Cash`	$1.59M	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
Prepaid Expenses	`PrepaidExpenseCurrent`	$31.46K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$21.78K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.61M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$20.83K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$23.20K	USD	Point-in-time
Intangibles (Note 2(B))	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangibles (Note 2(B))	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Security Deposit	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Security Deposit	`DepositsAssetsNoncurrent`	$75.03K	USD	Point-in-time
Total Assets	`Assets`	$1.71M	USD	Point-in-time
Total Assets	`Assets`	$3.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$95.54K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$53.59K	USD	Point-in-time
Accounts payable - related party	`DueToRelatedPartiesCurrent`	$5.07K	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`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$100.61K	USD	Point-in-time
Total Liabilities	`Liabilities`	$108.52K	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`	$25.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.94M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.61M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.15M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.71M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.26M	USD	Point-in-time

Income Statement 84 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$45.56K	USD	3 Qtrs
Sales	`SalesRevenueGoodsNet`	$193.23K	USD	3 Qtrs
Sales	`SalesRevenueGoodsNet`	$96.94K	USD	1 Quarter
Contract Income	`ContractsRevenue`	-	USD	1 Quarter
Contract Income	`ContractsRevenue`	$60.00K	USD	3 Qtrs
Contract Income	`ContractsRevenue`	$60.00K	USD	1 Quarter
Contract Income	`ContractsRevenue`	$20.00K	USD	3 Qtrs
License Fee Income	`LicenseAndServicesRevenue`	$25.00K	USD	3 Qtrs
License Fee Income	`LicenseAndServicesRevenue`	$25.00K	USD	1 Quarter
License Fee Income	`LicenseAndServicesRevenue`	$50.00K	USD	3 Qtrs
License Fee Income	`LicenseAndServicesRevenue`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	-	USD	3 Qtrs
Consulting Income	`RevenueOtherFinancialServices`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	-	USD	1 Quarter
Consulting Income	`RevenueOtherFinancialServices`	$40.00K	USD	3 Qtrs
Total Revenues	`SalesRevenueNet`	$115.56K	USD	3 Qtrs
Total Revenues	`SalesRevenueNet`	$318.23K	USD	3 Qtrs
Total Revenues	`SalesRevenueNet`	-	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$181.94K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$191.22K	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$69.90K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$130.42K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$206.33K	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$51.52K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$-69.90K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$-75.66K	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$111.90K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$376.15K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$51.23K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$442.25K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$199.01K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$11.38K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$58.71K	USD	3 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$16.21K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$36.48K	USD	3 Qtrs
Salary Expense	`SalariesAndWages`	$251.33K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$943.67K	USD	3 Qtrs
Salary Expense	`SalariesAndWages`	$817.31K	USD	3 Qtrs
Salary Expense	`SalariesAndWages`	$247.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$183.52K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$182.75K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$698.41K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$549.29K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$496.69K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$646.52K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.87M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.05M	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-1.76M	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-2.13M	USD	3 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-566.59K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-595.00K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$1.13K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$2.69K	USD	3 Qtrs
Interest Income	`InvestmentIncomeInterest`	$2.82K	USD	3 Qtrs
Interest Income	`InvestmentIncomeInterest`	$666.00	USD	1 Quarter
Interest Expense	`InterestExpense`	$60.00	USD	3 Qtrs
Interest Expense	`InterestExpense`	-	USD	3 Qtrs
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$666.00	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$2.76K	USD	3 Qtrs
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$2.69K	USD	3 Qtrs
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$1.13K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-593.87K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.13M	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.75M	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-565.92K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.13M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.75M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-565.92K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-593.87K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	3 Qtrs
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	3 Qtrs
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.66M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.17M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.92M	shares	3 Qtrs
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.05M	shares	3 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-2.13M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-1.75M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-565.92K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-593.87K	USD	1 Quarter
Common stock issued for services	`ShareBasedCompensation`	$44.85K	USD	3 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$33.50K	USD	3 Qtrs
Compensation expense on stock options	`StockOptionPlanExpense`	$287.82K	USD	3 Qtrs
Compensation expense on stock options	`StockOptionPlanExpense`	$483.55K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$4.52K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.82K	USD	3 Qtrs
Impairment of inventory	`OtherAssetImpairmentCharges`	$-58.94K	USD	3 Qtrs
Impairment of inventory	`OtherAssetImpairmentCharges`	-	USD	3 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$96.94K	USD	3 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-96.94K	USD	3 Qtrs
Decrease in inventory	`IncreaseDecreaseInInventories`	$-58.94K	USD	3 Qtrs
Decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.38K	USD	3 Qtrs
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-9.68K	USD	3 Qtrs
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.11K	USD	3 Qtrs
Decrease in employee advances	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	3 Qtrs
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$41.95K	USD	3 Qtrs
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-73.85K	USD	3 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$-70.00	USD	3 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$135.00	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$35.00K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-50.00K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.50M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.59M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.55K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.15K	USD	3 Qtrs
Security deposit	`SecurityDepositOnCreditCards`	-	USD	3 Qtrs
Security deposit	`SecurityDepositOnCreditCards`	$75.03K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.55K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.18K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.50K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.07M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.07M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$55.50K	USD	3 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.52M	USD	3 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.48M	USD	3 Qtrs
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.60M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.59M	USD	Point-in-time
Cash at Beginning 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`	$3.60M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.59M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.12M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$60.00	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	3 Qtrs

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$1.61M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.15M	USD	Point-in-time
Share based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$483.55K	USD	3 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$44.85K	USD	3 Qtrs
Exercise of warrants	`StockholdersEquityOther`	$55.50K	USD	3 Qtrs
Net loss for the six months ended June 30, 2013	`NetIncomeLoss`	$-2.13M	USD	3 Qtrs
Net loss for the six months ended June 30, 2013	`NetIncomeLoss`	$-1.75M	USD	3 Qtrs
Net loss for the six months ended June 30, 2013	`NetIncomeLoss`	$-565.92K	USD	1 Quarter
Net loss for the six months ended June 30, 2013	`NetIncomeLoss`	$-593.87K	USD	1 Quarter
Balance, June 30, 2013	`StockholdersEquity`	$1.61M	USD	Point-in-time
Balance, June 30, 2013	`StockholdersEquity`	$3.15M	USD	Point-in-time

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