$CTGO
Contango ORE, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024059574 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.362M $2.549M $3.200M
YoY Change -5.89% 28.68% 47.04%
% of Gross Profit
Research & Development $163.9K $214.8K $862.0K
YoY Change -85.58% -43.24% -63.26%
% of Gross Profit
Depreciation & Amortization $26.99K $27.00K $22.62K
YoY Change -20.29% -21.09% -33.9%
% of Gross Profit
Operating Expenses $2.362M $2.549M $4.088M
YoY Change -35.82% 6.5% -10.28%
Operating Profit
YoY Change
Interest Expense -$16.16M -$17.79M -$22.88M
YoY Change 120.37% 221.54% 134.65%
% of Operating Profit
Other Income/Expense, Net -$16.16M -$17.78M $140.1K
YoY Change -2764.35% 221.65% -101.44%
Pretax Income -$18.55M -$20.50M -$27.62M
YoY Change 78.06% 158.62% 93.01%
Income Tax
% Of Pretax Income
Net Earnings -$18.55M -$20.50M -$27.62M
YoY Change 78.06% 158.62% 93.01%
Net Earnings / Revenue
Basic Earnings Per Share -$1.90 -$2.14
Diluted Earnings Per Share -$1.90 -$2.14 -$2.79
COMMON SHARES
Basic Shares Outstanding 9.632M 9.587M 9.400M
Diluted Shares Outstanding 9.776M 9.587M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.12M $7.618M $15.50M
YoY Change 107.1% 160.99% 76.89%
Cash & Equivalents $24.12M $7.618M $15.50M
Short-Term Investments
Other Short-Term Assets $1.513M $1.423M $1.345M
YoY Change 134.62% 17.79% 28.43%
Inventory
Prepaid Expenses $1.279M $1.190M $1.113M
Receivables
Other Receivables
Total Short-Term Assets $25.63M $9.042M $16.85M
YoY Change 108.54% 119.06% 71.72%
LONG-TERM ASSETS
Property, Plant & Equipment $13.28M $13.31M $13.33M
YoY Change -0.69% -0.79% -0.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $54.47M $43.37M $28.06M
YoY Change
Other Assets $68.00M $57.12M $350.6K
YoY Change 408.57% 325.85% -97.39%
Total Long-Term Assets $68.00M $57.12M $41.74M
YoY Change 408.57% 325.85% 210.42%
TOTAL ASSETS
Total Short-Term Assets $25.63M $9.042M $16.85M
Total Long-Term Assets $68.00M $57.12M $41.74M
Total Assets $93.64M $66.16M $58.59M
YoY Change 264.87% 277.19% 151.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $790.6K $420.9K $250.7K
YoY Change 258.14% 461.46% 66.41%
Accrued Expenses $1.976M $1.117M $2.241M
YoY Change -4.89% 120.4% 78.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $29.90M $21.70M $7.900M
YoY Change
Total Short-Term Liabilities $50.54M $32.73M $13.07M
YoY Change 2098.54% 5525.93% 830.02%
LONG-TERM LIABILITIES
Long-Term Debt $44.70M $35.38M $36.78M
YoY Change 75.58% 82.38% 90.07%
Other Long-Term Liabilities $36.28M $32.10M $23.28M
YoY Change 1253.48% 877.43% 609.66%
Total Long-Term Liabilities $80.98M $67.48M $60.06M
YoY Change 187.8% 197.49% 165.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.54M $32.73M $13.07M
Total Long-Term Liabilities $80.98M $67.48M $60.06M
Total Liabilities $131.5M $100.2M $73.14M
YoY Change 332.1% 330.75% 204.27%
SHAREHOLDERS EQUITY
Retained Earnings -$178.1M -$159.5M -$139.0M
YoY Change 81.21% 81.58% 73.94%
Common Stock $140.3M $125.5M $124.5M
YoY Change 50.0% 52.98% 57.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$37.88M -$34.05M -$14.54M
YoY Change
Total Liabilities & Shareholders Equity $93.64M $66.16M $58.59M
YoY Change 264.87% 277.19% 151.9%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$18.55M -$20.50M -$27.62M
YoY Change 78.06% 158.62% 93.01%
Depreciation, Depletion And Amortization $26.99K $27.00K $22.62K
YoY Change -20.29% -21.09% -33.9%
Cash From Operating Activities -$2.441M -$4.414M -$5.882M
YoY Change 120.69% 45.84% 11.18%
INVESTING ACTIVITIES
Capital Expenditures -$330.00 $7.500K -$2.670K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$11.79M -$15.45M -$7.350M
YoY Change 75.45% 203.49% -21.05%
Cash From Investing Activities -$11.79M -$15.46M -$7.347M
YoY Change 75.44% 203.64% -21.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $221.3K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.73M 11.99M 10.23M
YoY Change 85.66% 427.68% 84.12%
NET CHANGE
Cash From Operating Activities -2.441M -4.414M -5.882M
Cash From Investing Activities -11.79M -15.46M -7.347M
Cash From Financing Activities 30.73M 11.99M 10.23M
Net Change In Cash 16.50M -7.885M -3.000M
YoY Change 89.08% 34.89% -66.83%
FREE CASH FLOW
Cash From Operating Activities -$2.441M -$4.414M -$5.882M
Capital Expenditures -$330.00 $7.500K -$2.670K
Free Cash Flow -$2.441M -$4.422M -$5.880M
YoY Change 120.66% 46.09% 11.13%

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CY2024Q1 us-gaap Basis Of Accounting
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<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">2. Basis of Presentation</span></p><p id="led470819f20239231698094677203" style="text-indent:4.44%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by US GAAP for complete annual consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the consolidated audited financial statements and notes included in the Company’s Form 10-KT for the six-month period ended </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">D</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ecember 31, 2023 and its Form 10-K for the fiscal year ended June 30, 2023. The results of operations for the </span><span id="led470819f20239231698093792607"></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2024.</span></p>
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9587113
CY2024Q1 us-gaap Earnings Per Share Diluted
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-2.14
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-20497239
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9587113
CY2024Q1 us-gaap Earnings Per Share Basic
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-2.14
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-7925487
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7243345
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-1.09
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45000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
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15000000
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100000
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222455
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CY2023Q1 us-gaap Labor And Related Expense
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CY2023Q1 us-gaap Share Based Compensation
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CY2024Q1 us-gaap Travel And Entertainment Expense
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90821
CY2023Q1 us-gaap Travel And Entertainment Expense
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39488
CY2024Q1 us-gaap Noninterest Expense Directors Fees
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150000
CY2023Q1 us-gaap Noninterest Expense Directors Fees
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185000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2467995
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1980921

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