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NXT Energy Solutions Inc. (T:SFD)

Business Focus: Oil Related - Surveying & Mapping Services

Sector:  Energy Industry:  Oil Related Services and Equipment
 
See Regulatory Filings on SEDAR
Company Contact
Address: 3320 17 Ave SW Suite 302
CALGARY AB T3E 0B4
Tel: N/A
Website: www.nxtenergy.com
IR: See website
Key People
George Liszicasz
Chairman of the Board, President, Chief Executive Officer
Eugene Woychyshyn
Chief Financial Officer, Vice President - Finance
Thomas E. Valentine
Corporate Secretary, Director
Business Overview
NXT Energy Solutions Inc. provides aerial survey service to the oil and natural gas exploration and production industry. The Company's Stress Field Detection (SFD) survey technology is an airborne survey system that is used in the oil and natural gas exploration industry to help in identifying areas with hydrocarbon reservoir potential. The Stress Field Detection (SFD) survey technology is based on detecting subtle changes in earth's gravitational field from an airborne platform. SFD data acquired is analyzed and can be used to find variations in sub-surface geological stress patterns, which are indicators of potential reservoir and trap formations. The Company's aerial SFD surveys provide a method for clients to focus their decisions related to land commitments and the acquisition of seismic data that is used to locate and delineate exploration prospects. SFD is the airborne tool that provides information on areas conducive to fluid entrapment in the sedimentary column.
Financial Overview
For the six months ended 30 June 2020, NXT Energy Solutions Inc. revenues decreased 99% to C$137K. Net loss totaled C$2.8M vs. income of C$6.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Stock based compensation expense increase from C$8K to C$29K (expense), Depreciation - PPE increase of 8% to C$48K (expense).
Employees: 10 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $34.77M as of Jun 30, 2020
Annual revenue (TTM): $1.16M as of Jun 30, 2020
EBITDA (TTM): -$3.96M as of Jun 30, 2020
Net annual income (TTM): -$5.36M as of Jun 30, 2020
Free cash flow (TTM): $3.64M as of Jun 30, 2020
Net Debt Last Fiscal Year: N/A
Shares outstanding: 64,406,891 as of Jun 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization