NextTrip, Inc. Files 10-Q for Nov 30, 2024

TL;DR

NextTrip (NTRP) 10-Q filed. Financials for Nov 30, 2024 period out.

AI Summary

NextTrip, Inc. filed its 10-Q for the period ending November 30, 2024. The company, formerly SIGMA ADDITIVE SOLUTIONS, INC., is in the transportation services sector. Its fiscal year ends on February 28th, and its principal business address is in Santa Fe, NM.

Why It Matters

This filing provides investors with an update on NextTrip, Inc.'s financial performance and operational status for the third quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial updates, not indicating immediate significant risks.

Key Numbers

• 20241130 — Period End Date (Indicates the end of the reporting period for the 10-Q.)
• 20250114 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 0228 — Fiscal Year End (Specifies the end date of NextTrip's fiscal year.)

Key Players & Entities

• NextTrip, Inc. (company) — Filer of the 10-Q
• SIGMA ADDITIVE SOLUTIONS, INC. (company) — Former company name
• 20241130 (date) — Period of report
• 20250114 (date) — Filing date
• 001-38015 (dollar_amount) — SEC file number

FAQ

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) — 1438KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-25-002136.txt ( ) — 6995KB
• ntrp-20241130.xsd (EX-101.SCH) — 44KB
• ntrp-20241130_cal.xml (EX-101.CAL) — 53KB
• ntrp-20241130_def.xml (EX-101.DEF) — 208KB
• ntrp-20241130_lab.xml (EX-101.LAB) — 434KB
• ntrp-20241130_pre.xml (EX-101.PRE) — 348KB
• form10-q_htm.xml (XML) — 1175KB

- 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 25

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 39

- OTHER INFORMATION

PART II - OTHER INFORMATION 40

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 40

RISK FACTORS

ITEM 1A. RISK FACTORS 40

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 40

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 41

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 41

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 42

EXHIBITS

ITEM 6. EXHIBITS 42

SIGNATURES

SIGNATURES 43 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED BALANCE SHEETS November 30, 2024 (unaudited) February 29, 2024 ASSETS Cash and cash equivalents $ 15,385 $ 323,805 Promissory note receivable, net 1,000,000 1,000,000 Accounts receivable, net 15,753 34,082 Prepaid expenses and other current assets 493,373 340,921 Total Current Assets 1,524,511 1,698,808 Non-Current assets Property and equipment, net 5,932 6,642 Intangible assets, net 2,242,078 2,173,420 Security deposit 38,425 42,167 Goodwill 1,167,805 1,167,805 Total Non-Current Assets 3,454,240 3,390,034 Total Assets $ 4,978,751 $ 5,088,842 LIABILITIES Current Liabilities Accounts payable $ 1,334,925 $ 531,847 Accrued expenses 1,175,851 460,768 Deferred revenue 90,197 139,921 Notes payable 822,719 - Notes payable - related parties 2,970,405 828,277 Notes payable 2,970,405 828,277 Total Current Liabilities 6,394,097 1,960,813 Total Liabilities 6,394,097 1,960,813 Commitments and Contingencies - - Stockholder's Equity Preferred Stock, $ 0.001 par value, 10,000,000 shares authorized; 225,520 and 472,996 shares issued and outstanding, respectively 226 474 Common Stock, $ 0.001 par value, 250,000,000 and 1,200,000 shares authorized, respectively; 1,429,492 and 936,430 shares issued and outstanding, respectively 1,430 936 Additional Paid in Capital 28,288,831 27,277,758 Accumulated deficit ( 29,705,833 ) ( 24,151,139 ) Total Stockholders' Equity ( 1,415,346 ) 3,128,029 Total Liabilities and Stockholders' Equity $ 4,978,751 $ 5,088,842 See accompanying notes to condensed financial statements. 3 NEXTTRIP, INC. (FORMERLY SIGMA ADDITIVE SOLUTIONS, INC.) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 2024 2023 2024 2023 Three Months Ended November 30, Nine Month

Business

Business Milestones Contingent Shares Achieved Launch of leisure travel booking platform 1,450,000 Launch of group travel booking platform 1,450,000 Launch of FlexPay technology 1,493,993 Total contingent shares issuable on June 10, 2024 4,393,993 Not Achieved Launch of travel agent platform 1,450,000 Total contingent shares potentially issuable in future periods 1,450,000 Total contingent shares 5,843,993 The following table shows the reconciliation of the weighted average common shares outstanding for the three and nine months ended November 30, 2024 to the weighted average common shares used in the computation of basic earnings per share: Schedule of Weighted Average Common Shares Weighted Average Number of Common Shares Three Months Ended November 30, 2024 Nine Months Ended November 30, 2024 1,429,492 common shares outstanding 1,417,772 1,351,782 4,393,993 issuable contingent shares 4,393,993 2,764,221 Weighted average common shares outstanding 5,811,765 4,116,003 The issuable contingent shares are of the Company's sole class of common stock, and as such have the same rights and privileges

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View this 10-Q filing on SEC EDGAR