NextTrip, Inc. Files 10-Q for May 2024 Period
Ticker: NTRP · Form: 10-Q · Filed: Sep 16, 2024 · CIK: 788611
Sentiment: neutral
Topics: 10-Q, financials, transportation
Related Tickers: NTRP
TL;DR
NextTrip (NTRP) 10-Q filed. Period ending 5/31/24. Transportation services.
AI Summary
NextTrip, Inc. filed its 10-Q for the period ending May 31, 2024. The company, formerly SIGMA ADDITIVE SOLUTIONS, INC., is in the transportation services sector. Its fiscal year ends on February 28th. The filing was made on September 16, 2024.
Why It Matters
This filing provides investors with an update on NextTrip, Inc.'s financial performance and operational status for the quarter ending May 31, 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- 0228 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)
- 20240531 — Reporting Period End Date (Specifies the end date for the financial data presented in the 10-Q.)
- 20240916 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- NextTrip, Inc. (company) — Filer of the 10-Q
- SIGMA ADDITIVE SOLUTIONS, INC. (company) — Former company name
- 20240531 (date) — End of reporting period
- 20240916 (date) — Filing date
FAQ
What is the primary business of NextTrip, Inc.?
NextTrip, Inc. operates in the TRANSPORTATION SERVICES sector, as indicated by its Standard Industrial Classification code 4700.
When does NextTrip, Inc.'s fiscal year end?
NextTrip, Inc.'s fiscal year ends on February 28th (0228).
What was NextTrip, Inc. previously known as?
NextTrip, Inc. was formerly known as SIGMA ADDITIVE SOLUTIONS, INC., and prior to that, SIGMA LABS, INC. and FRAMEWAVES INC.
What is the SEC file number for NextTrip, Inc.?
The SEC file number for NextTrip, Inc. is 001-38015.
What is the business address of NextTrip, Inc.?
The business address of NextTrip, Inc. is 3900 PASEO DEL SOL, SANTE FE, NM 87507.
Filing Stats: 4,510 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-09-16 17:05:18
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NTRP The NASDAQ Stock Mar
Filing Documents
- form10-q.htm (10-Q) — 740KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-036417.txt ( ) — 4426KB
- ntrp-20240531.xsd (EX-101.SCH) — 31KB
- ntrp-20240531_cal.xml (EX-101.CAL) — 48KB
- ntrp-20240531_def.xml (EX-101.DEF) — 149KB
- ntrp-20240531_lab.xml (EX-101.LAB) — 350KB
- ntrp-20240531_pre.xml (EX-101.PRE) — 264KB
- form10-q_htm.xml (XML) — 571KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS 3
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 29
- OTHER INFORMATION
PART II - OTHER INFORMATION
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS 30
RISK FACTORS
ITEM 1A. RISK FACTORS 30
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 30
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 30
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES 30
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 30
EXHIBITS
ITEM 6. EXHIBITS 30
SIGNATURES
SIGNATURES 31 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED BALANCE SHEETS May 31, 2024 (unaudited) February 29, 2024 ASSETS Cash and cash equivalents $ 36,679 $ 323,805 Promissory note receivable, net 1,000,000 1,000,000 Accounts receivable, net 27,760 34,082 Prepaid expenses and other current assets 360,590 340,921 Total Current Assets 1,425,029 1,698,808 Non-Current assets Property and equipment, net 5,294 6,642 Intangible assets, net 2,056,588 2,173,420 Security deposit 45,167 42,167 Goodwill 1,167,805 1,167,805 Total Non-Current Assets 3,274,854 3,390,034 Total Assets $ 4,699,883 $ 5,088,842 LIABILITIES Current Liabilities Accounts payable $ 972,868 $ 531,847 Accrued expenses 554,240 460,768 Deferred revenue 154,201 139,921 Note payable 100,000 - Notes payable - related parties 1,752,868 828,277 Total Current Liabilities 3,534,177 1,960,813 Total Liabilities 3,534,177 1,960,813 Commitments and Contingencies - - Stockholder's Equity Preferred Stock, $ 0.001 par value; 10,000,000 shares authorized; 63,494 and 472,996 shares issued and outstanding, respectively 64 474 Common Stock, par value $ 0.001 , 250,000,000 and 1,200,000 shares authorized, respectively; 1,345,932 and 936,430 shares issued and outstanding, respectively 1,346 936 Additional Paid in Capital 27,304,840 27,277,758 Accumulated deficit ( 26,140,544 ) ( 24,151,139 ) Total Stockholders' Equity 1,165,706 3,128,029 Total Liabilities and Stockholders' Equity $ 4,699,883 $ 5,088,842 See accompanying notes to condensed financial statements. 3 NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED (Unaudited) 2024 2023 Three Months Ended May 31, 2024 2023 Revenue $ 188,793 $ 19,562 Cost of revenue (exclusive of dep