NextTrip, Inc. Files Q2 2024 10-Q
Ticker: NTRP · Form: 10-Q · Filed: Oct 15, 2024 · CIK: 788611
Sentiment: neutral
Topics: 10-Q, financials, equity, transportation
Related Tickers: NTRP
TL;DR
NextTrip (NTRP) 10-Q filed. Equity details updated. Check financials.
AI Summary
NextTrip, Inc. filed its 10-Q for the period ending August 31, 2024. The company, formerly known as SIGMA ADDITIVE SOLUTIONS, INC., is in the transportation services sector. Key financial data and changes in equity accounts like preferred stock, common stock, additional paid-in capital, and retained earnings are detailed for periods including May 31, 2024, and May 31, 2023.
Why It Matters
This filing provides investors with an update on NextTrip, Inc.'s financial performance and position for the second quarter of fiscal year 2024, including changes in its equity structure.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the company has undergone significant name changes, suggesting potential restructuring or strategic shifts that warrant investor attention.
Key Numbers
- 20240831 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20241015 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- NextTrip, Inc. (company) — Filer and reporting company
- SIGMA ADDITIVE SOLUTIONS, INC. (company) — Former company name
- 20240831 (date) — End of reporting period
- 0000788611 (company) — Central Index Key for NextTrip, Inc.
- NV (location) — State of incorporation
FAQ
What were the specific changes in NextTrip, Inc.'s equity accounts for the period ending August 31, 2024?
The filing indicates changes in accounts such as us-gaap:PreferredStockMember, us-gaap:CommonStockMember, us-gaap:AdditionalPaidInCapitalMember, and us-gaap:RetainedEarningsMember for periods including May 31, 2024, and May 31, 2023.
What is NextTrip, Inc.'s Standard Industrial Classification (SIC) code?
NextTrip, Inc.'s SIC code is 4700, categorized under TRANSPORTATION SERVICES.
When did NextTrip, Inc. change its name from SIGMA ADDITIVE SOLUTIONS, INC.?
The date of the name change from SIGMA ADDITIVE SOLUTIONS, INC. to NextTrip, Inc. was August 12, 2022.
What is the business address and phone number for NextTrip, Inc.?
The business address is 3900 PASEO DEL SOL, SANTE FE, NM 87507, and the business phone number is (954) 526-9688.
What is the fiscal year end for NextTrip, Inc.?
NextTrip, Inc.'s fiscal year ends on February 28.
Filing Stats: 4,576 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-10-15 16:30:44
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) — 924KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-041139.txt ( ) — 5050KB
- ntrp-20240831.xsd (EX-101.SCH) — 34KB
- ntrp-20240831_cal.xml (EX-101.CAL) — 50KB
- ntrp-20240831_def.xml (EX-101.DEF) — 160KB
- ntrp-20240831_lab.xml (EX-101.LAB) — 371KB
- ntrp-20240831_pre.xml (EX-101.PRE) — 298KB
- form10-q_htm.xml (XML) — 682KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3
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 20
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 32
- OTHER INFORMATION
PART II - OTHER INFORMATION 33
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS 33
RISK FACTORS
ITEM 1A. RISK FACTORS 33
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 33
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 33
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES 33
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 33
EXHIBITS
ITEM 6. EXHIBITS 34
SIGNATURES
SIGNATURES 36 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED BALANCE SHEETS August 31, 2024 (unaudited) February 29, 2024 ASSETS Cash and cash equivalents $ 102,006 $ 323,805 Promissory note receivable, net 1,000,000 1,000,000 Accounts receivable, net 11,201 34,082 Prepaid expenses and other current assets 244,870 340,921 Total Current Assets 1,358,077 1,698,808 Non-Current assets Property and equipment, net 6,703 6,642 Intangible assets, net 2,310,927 2,173,420 Security deposit 45,167 42,167 Goodwill 1,167,805 1,167,805 Total Non-Current Assets 3,530,602 3,390,034 Total Assets $ 4,888,679 $ 5,088,842 LIABILITIES Current Liabilities Accounts payable $ 1,145,536 $ 531,847 Accrued expenses 880,585 460,768 Deferred revenue 138,067 139,921 Notes payable 140,000 - Notes payable - related parties 2,718,594 828,277 Total Current Liabilities 5,022,782 1,960,813 Total Liabilities 5,022,782 1,960,813 Commitments and Contingencies - - Stockholder's Equity Preferred Stock, $ 0.001 par value, 10,000,000 shares authorized; 93,295 and 472,996 shares issued and outstanding, respectively 94 474 Common Stock, $ 0.001 par value, 250,000,000 and 1,200,000 shares authorized, respectively; 1,388,641 and 936,430 shares issued and outstanding, respectively 1,389 936 Additional Paid in Capital 27,550,296 27,277,758 Accumulated deficit ( 27,685,882 ) ( 24,151,139 ) Total Stockholders' Equity ( 134,103 ) 3,128,029 Total Liabilities and Stockholders' Equity $ 4,888,679 $ 5,088,842 See accompanying notes to condensed financial statements. 3 NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Revenue $ 154,498 $ 27,6