Norris Industries, Inc.

Norris is a going-concern micro-cap E&P with deeply negative margins, near-zero cash, and dependence on its majority owner for survival.

Strengths

• Reported net income growth (65th pct) and a positive ROE figure, though both are distorted artifacts
• $1.0M availability on related-party credit line provides limited near-term liquidity

Risks

• Explicit going-concern doubt; only $45k cash, current ratio 0.30, net margin -231%, ROA 4th pct, negative interest coverage
• Revenue declined 13%, lease operating expenses exceed revenue, and funding depends entirely on a non-obligated majority owner

Notable findings

• RestatementRecent 8-K item 4.02 8-K ↗
• No interest coverageInterest coverage -4.65 (cannot cover interest)
• Auditor changeRecent 8-K item 4.01 8-K ↗
• Net lossNet loss (net margin -231.2%)
• Weak liquidityCurrent ratio 0.30 (<1)