10-Q Filing

NEXT FUEL, INC. CIK: 1422949 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001213900-14-003429`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	nxfi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 64 Cash Flow Statement 54 Stockholders Equity 11

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$109.94K	USD	Point-in-time
Cash	`Cash`	$1.02M	USD	Point-in-time
Cash	`Cash`	$60.80K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$15.29K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$9.76K	USD	Point-in-time
Security Deposit	`DepositsAssetsCurrent`	$75.18K	USD	Point-in-time
Security Deposit	`DepositsAssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$194.88K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.04M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$19.40K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$16.55K	USD	Point-in-time
Deposits	`DepositsAssets`	$100.00K	USD	Point-in-time
Deposits	`DepositsAssets`	$100.00K	USD	Point-in-time
Deposits	`DepositsAssets`	-	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`	$75.07K	USD	Point-in-time
Total Assets	`Assets`	$311.43K	USD	Point-in-time
Total Assets	`Assets`	$1.13M	USD	Point-in-time
Accounts payable and accrued expenses - current operations	`AccountsPayableAndAccruedLiabilitiesCurrent`	$10.57K	USD	Point-in-time
Accounts payable and accrued expenses - current operations	`AccountsPayableAndAccruedLiabilitiesCurrent`	$27.63K	USD	Point-in-time
Accounts payable and accrued expenses - discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccountsPayable`	$23.18K	USD	Point-in-time
Accounts payable and accrued expenses - discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccountsPayable`	$15.00K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	$17.59K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	$320.31K	USD	Point-in-time
Total Liabilities	`Liabilities`	$68.41K	USD	Point-in-time
Total Liabilities	`Liabilities`	$345.88K	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 shares issued as of March 31, 2014 and September 30, 2013, and 10,572,500 and 11,172,500 shares outstanding as of March 31, 2014 and September 30, 2013, respectively	`CommonStockValue`	$1.12K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized, 11,172,500 shares issued as of March 31, 2014 and September 30, 2013, and 10,572,500 and 11,172,500 shares outstanding as of March 31, 2014 and September 30, 2013, respectively	`CommonStockValue`	$1.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.92M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.28M	USD	Point-in-time
Accumulated deficit during development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$676.73K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-34.45K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.06M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$311.43K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$237.22K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$316.63K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$127.36K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$44.65K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.80K	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$766.00	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$1.80K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$317.96K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$175.19K	USD	1 Quarter
Salary Expense	`SalariesAndWages`	$476.74K	USD	2 Qtrs
Salary Expense	`SalariesAndWages`	$355.03K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$421.24K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$329.10K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$118.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$520.20K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.11M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.12M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$641.08K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$565.36K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-641.08K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-565.36K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.11M	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-1.12M	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$2.02K	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$136.00	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$830.00	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$367.00	USD	2 Qtrs
Total Other Income	`NonoperatingIncomeExpense`	$367.00	USD	2 Qtrs
Total Other Income	`NonoperatingIncomeExpense`	$830.00	USD	1 Quarter
Total Other Income	`NonoperatingIncomeExpense`	$2.02K	USD	2 Qtrs
Total Other Income	`NonoperatingIncomeExpense`	$136.00	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.11M	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.12M	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-564.53K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-640.94K	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-35.79K	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-245.87K	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-439.52K	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-146.87K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.26M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.56M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-676.73K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-810.39K	USD	1 Quarter
Continuing Operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.10	USD	2 Qtrs
Continuing Operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.05	USD	1 Quarter
Continuing Operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.10	USD	2 Qtrs
Continuing Operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.06	USD	1 Quarter
Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.02	USD	1 Quarter
Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.01	USD	2 Qtrs
Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.04	USD	2 Qtrs
Net Loss	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net Loss	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	2 Qtrs
Net Loss	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	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`	10.88M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.99M	shares	1 Quarter
Weighted average number of shares outstanding during the year - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.03M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Loss from Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.11M	USD	2 Qtrs
Net Loss from Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.12M	USD	2 Qtrs
Net Loss from Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-564.53K	USD	1 Quarter
Net Loss from Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-640.94K	USD	1 Quarter
Net Loss from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-35.79K	USD	1 Quarter
Net Loss from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-245.87K	USD	1 Quarter
Net Loss from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-439.52K	USD	2 Qtrs
Net Loss from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-146.87K	USD	2 Qtrs
Common stock issued for services	`ShareBasedCompensation`	-	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`	$161.97K	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$3.10K	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$2.85K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-51.39K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.28K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-5.53K	USD	2 Qtrs
Increase in stock subscription receivable	`IncreaseDecreaseInOtherCurrentAssets`	$55.50K	USD	2 Qtrs
Increase in stock subscription receivable	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-25.25K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.33K	USD	2 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$-1.50K	USD	2 Qtrs
(Decrease) increase in accounts payable - related parties	`ProceedsFromRelatedPartyDebt`	$302.72K	USD	2 Qtrs
(Decrease) increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-50.00K	USD	2 Qtrs
(Decrease) increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.17M	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-811.89K	USD	2 Qtrs
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.15K	USD	2 Qtrs
Deposit on equipment	`DepositOnEquipment`	$100.00K	USD	2 Qtrs
Deposit on equipment	`DepositOnEquipment`	-	USD	2 Qtrs
Security deposit	`SecurityDepositOnCreditCards`	$112.00	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`	$-100.11K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.50K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$55.50K	USD	2 Qtrs
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.19M	USD	2 Qtrs
Net Decrease in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-912.00K	USD	2 Qtrs
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$443.35K	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash at Beginning of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$109.94K	USD	Point-in-time
Cash at Beginning 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`	$2.47M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$443.35K	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$109.94K	USD	Point-in-time
Cash at End of Year/Period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-34.45K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.06M	USD	Point-in-time
Share based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$161.97K	USD	2 Qtrs
Cancelation of common stock	`CommonStockValueCancelled`	-	USD	2 Qtrs
Cancelation of common stock, Shares	`CommonStockSharesCancelled`	600,000.00	shares	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.26M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.56M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-676.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-810.39K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-34.45K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.06M	USD	Point-in-time

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