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NXT Announces Strong 2012 Year-End Results
Published : April 24, 2013
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CALGARY, ALBERTA--(Marketwired - April 24, 2013) -

Highlights

  • Record revenues of $11 million in 2012
  • Record net profit for 2012 of $2 million
  • Positioned for continued growth with strong cash position and no debt

NXT Energy Solutions Inc. ("NXT" or the "Company") (News - Market indicators)(OTCBB:NSFDF), is pleased to announce its financial and operating results for the fiscal year ended December 31, 2012. All selected and referenced financial information should be read in conjunction with the audited consolidated financial statements and management discussion and analysis ("MD&A") which will be filed in Canada on SEDAR at www.sedar.com, in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at www.nxtenergy.com.

Highlights of Financial Results

Highlights of NXT's Q4-12 and 2012 year-end financial statements (with comparative figures for the year ended December 31, 2011) are as follows:

  3 months   12 months   12 months  
  ended   ended   ended  
  December 31   December 31   December 31  
(all in Canadian $) 2012   2012   2011  
  (unaudited )        
   
Survey revenues $ 5,727,392   $ 10,937,575   $ 144,650  
Survey expenses 1,277,768   3,633,645   46,713  
General & administrative expenses 1,356,617   4,508,506   3,218,143  
Amortization and other expenses (income), net (211,123 ) 306,275   464,395  
  2,423,262   8,448,426   3,729,251  
Income (loss) before income taxes 3,304,130   2,489,149   (3,584,601 )
Income tax expense 216,807   426,421   -  
Income (loss) for the year 3,087,323   2,062,728   (3,584,601 )
   
Income (loss) per common share - basic 0.07   0.05   (0.10 )
Income (loss) per common share - diluted 0.06   0.04   (0.10 )
   
# of common shares outstanding at end of period 39,554,959   39,554,959   34,757,356  
   
Cash flow from operating activities:            
  Net income (loss) 3,087,323   2,062,728   (3,584,601 )
  Add back non-cash items, net (234,286 ) 225,732   508,787  
    2,853,037   2,288,460   (3,075,814 )
  Net change in non-cash working capital balances 738,762   (1,495,468 ) 1,319,299  
  Net cash generated by (used in) operating activities 3,591,799   792,992   (1,756,515 )
Working capital:        
  Cash and short term investments 5,107,594   1,518,946  
  Other current assets 2,022,789   1,277,546  
    7,130,383   2,796,492  
  Current liabilities (2,181,827 ) (3,133,012 )
  4,948,556   (336,520 )

"We are extremely proud of what the NXT team accomplished in 2012" noted George Liszicasz, NXT's President & CEO. "After several years of building our foothold in Latin and Central America, we achieved record revenues, and significant net profit and operating cash flow. With no debt, we are on sound financial footing, and are working diligently to expand our survey revenue opportunities for 2013 and beyond".

NXT conducted SFD® survey flight operations in six different countries in 2012, and the 2012 results reflect completion and delivery of our SFD® reports on four of those projects - in Colombia and Guatemala (for client Pacific Rubiales Energy), Argentina, and our largest project in Mexico (for PEMEX). 

In addition, by the end of Q1-2013, NXT completed and delivered its recommendations for its US$ 2.66 million (revenue value prior to foreign withholding taxes) survey contract in Pakistan, and an additional small survey in Belize. The final progress billing of US $0.9 million for the Pakistan project is scheduled to be received by NXT in May, 2013.

Conference call update

A conference call update will be held at 12:00 PM MST (2 PM EST) on Wednesday. May 1, 2013 where NXT management will provide an update on matters of interest to investors including a discussion of our 2012 results, as well as current sales, intellectual property and other initiatives which are underway. 

Interested parties can participate in this investor's conference call through one of these applicable numbers:

1-855-353-9183 (Toll Free Canada & USA) 
Calgary 403.532.5601
Edmonton 780.429.5820
Montreal 514.687.4017
Ottawa 613.212.0171
Toronto 416.623.0333
Vancouver 604.681.8564

Participant access code: 58876 (followed by the "#" key) 

To listen to the conference call on a Playback On Demand, please dial:

Dial 1-855-201-2300 from Canada or the USA
Enter the 6 digit Conference Reference Number, 957778 #.
Please also key in the Participant Access Code 58876 #

Conversion of preferred shares

NXT has a total of 10 million convertible preferred shares outstanding, which were issued in 2006 to the Company's President & CEO pursuant to a technology transfer agreement (the "TTA") covering the use of the SFD® technology. A total of 2 million of the preferred shares became convertible (on a one for one basis) into common shares upon issue in 2006. The remaining 8 million preferred shares are non-voting, and are convertible on or before December 31, 2015 at NXT's option, subject to earlier conversion under the TTA upon the reaching of defined cumulative revenue milestones. Mr. George Liszicasz, the holder of the preferred shares, has given NXT notice to formally convert the initial 2 million preferred shares effective April 30, 2013.

Following this conversion, Mr. Liszicasz will hold a total of 7,196,490 (17.3%) of NXT's then outstanding common shares.

NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a survey method that can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available.

Forward-Looking Statements

This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2012 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.

Specific forward-looking statements include discussion of expansion plans for 2013 and beyond, and the potential future conversion of the preferred shares. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.

Investor Relations
kin communications inc.
(604) 684-6730 / 1-866-684-6730
sfd@kincommunications.com
www.kincommunications.com
or
Greg Leavens
NXT Energy Solutions Inc.
V-P Finance & CFO
(403) 206-0805
www.nxtenergy.com
or
George Liszicasz
NXT Energy Solutions Inc.
President & CEO
(403) 206-0800
www.nxtenergy.com
Data and Statistics for these countries : Argentina | Belize | Canada | Colombia | Guatemala | Mexico | Pakistan | All
Gold and Silver Prices for these countries : Argentina | Belize | Canada | Colombia | Guatemala | Mexico | Pakistan | All

NXT Energy Solutions Inc.

CODE : SFD.V
ISIN : CA62948Q1072
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NXT Energy is a exploration company based in Canada.

NXT Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 80.0 millions as of today (US$ 61.0 millions, € 54.2 millions).

Its stock quote reached its highest recent level on January 04, 2008 at CA$ 4.90, and its lowest recent point on April 21, 2011 at CA$ 0.29.

NXT Energy has 53 310 000 shares outstanding.

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Financings of NXT Energy Solutions Inc.
6/17/2009 Completes Small Private Placement
Option Grants of NXT Energy Solutions Inc.
2/28/2011Grants150,000 Options to Insider and reprices 1,615,000
Nominations of NXT Energy Solutions Inc.
8/26/2013Announces Filing of Q2-2013 Results and the Appointment of M...
1/29/2013Mr. Krishna Vathyam Joins the NXT Board of Directors
4/27/2011Announces New Appointment to Geosciences Advisory Board
1/16/2009 Appoints Chief Operating Officer
Financials of NXT Energy Solutions Inc.
4/24/2013Announces Strong 2012 Year-End Results
Corporate news of NXT Energy Solutions Inc.
12/16/2015NXT Energy Solutions Advises of Grant of Stock Options
11/3/2015NXT Energy Provides Update on Bolivia Survey Project and Oth...
9/1/2015NXT Energy Solutions Finalizes Rights to SFD Technology via ...
8/27/2015NXT Energy Solutions Announces Filing of Q2-2015 Interim Res...
8/25/2015Edited Transcript of SFD earnings conference call or present...
8/5/2015NXT Energy Solutions Engages Venture North for Investor Rela...
7/9/2015NXT Energy Solutions Announces US $1 Million Expansion of SF...
4/16/2015IIROC Trading Resumption - SFD
4/16/2015NXT Receives Award of a New SFD® Contract of US $13 Million
4/15/2015IIROC Trading Halt - SFD
2/19/2015Mackie Research Increases Target for NXT Energy Solutions
1/13/2015Honorable George Allen Joins NXT Energy Solutions Advisory B...
1/8/20154 charged under Utah's controversial 'ag-gag' law
1/5/2015NXT Awarded New Survey Project in Pakistan
12/4/2014Plunging Oil Means Exploration Budget Cuts
12/3/2014NXT Energy Solutions Inc.: Reminder-Conference Call December...
11/25/2014NXT Reports Filing of Q3 Results and Related Conference Call
9/5/20143 Technologies Beating the ‘Peak Oil’ Hysterics
8/27/2014NXT Energy Solutions Reports Filing of Q2 Results and Relate...
7/17/2014NXT Energy Solutions Announces Revised Date for Conference C...
7/10/2014NXT Energy Solutions Announces Re-Election of Directors and ...
5/23/2014Disruptive Oil Services Company, NXT Energy Bolsters Outlook...
5/22/2014NXT Energy Solutions Reports Earnings of $2.6 Million in Q1 ...
4/29/2014NXT Energy Solutions Announces Filing of 2013 Year-End Resul...
4/14/2014Chinese pork giant plans IPO to raise up to $5.3B
9/26/2013Provides Update on Recent Business Development Initiatives
7/25/2013Announces Completion and Presentation of Joint Paper Co-Auth...
7/8/2013Announces Granting of Incentive Stock Options
7/2/2013Announces the Completion of PEMEX Integration Study and Auth...
5/28/2013Announces SEDAR Filing of Q1-2013 Results and Conversion of ...
4/2/2013Management Team Enhanced With The Hiring of Mr. Atul Nautiya...
3/14/2013Nearing Completion of South Asia Survey Project
2/15/2013to Present at the EnerCom Oil & Services Conference 11
2/8/2013Secures US $4.73 Million SFD(R) Survey Contract With Petrole...
1/22/2013Presents at MicroCapClub Invitational
1/10/2013Announces Record Revenue Year in 2012, and Provides Update o...
11/5/2012Announces Update On Status of US $5.8 Million Survey Contrac...
10/4/2012Announces US $1.04 Million Expansion of Survey Contract for ...
9/20/2012Finalizes US $4.73 Million PEMEX Contract, Initiates New Sur...
9/12/2012Secures US $4.73 Million SFD(R) Survey Contract With Petrole...
7/11/2011Announces Management Change and Appointment of Leading I...
6/30/2011Signs Letter of Intent for SFD® Surveys in Six Blocks and in...
4/4/2011Announces a $150,000 Pilot Survey Contract, April Oil & Gas ...
2/17/2011Announces Closing of Financing
2/11/2011Announces Financing
12/22/2009Grants Common Share Options in 2009
10/26/2009Announces the Execution of SFDTM Survey Contract With a New ...
9/21/2009 Operational Update
7/23/2009Attending At Exploration Symposium In Colombia
7/15/2009 Completes US $2.3 Million Survey for Pacific Rubiales
5/13/2009Execution of SFD Survey Contract and Commencemnt of Colombia...
9/22/2008Changes Its Name to NXT Energy Solutions Inc.
7/16/2008Annual General Meeting and Contract Update
5/1/2008 Provides an Update on SFD Survey Contracts
4/16/2008Announces Update on Drilling Activity on SFD Prospect
4/10/2008Reports 2007 Financial and Operational Results
3/10/2008Corporate Update
2/15/2008Announces Commencement of Cdn. $1.5 Million SFD Survey and C...
12/10/2007 Announces New Board Members
12/3/2007Lists on the TSX Venture Exchange
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