$CTGO
Contango ORE, Inc.

2020 Q4 Form 10-Q Financial Statement

#000143774921002477 Filed on February 11, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.603M $1.151M
YoY Change 126.13% 4.28%
% of Gross Profit
Research & Development $60.00K
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.663M $1.151M
YoY Change 131.39% 4.28%
Operating Profit
YoY Change
Interest Expense -$1.123M -$1.778M
YoY Change -36.84% 127.32%
% of Operating Profit
Other Income/Expense, Net -$1.123M -$1.778M
YoY Change -36.84%
Pretax Income -$3.786M -$2.929M
YoY Change 29.28% 55.3%
Income Tax -$600.0K $0.00
% Of Pretax Income
Net Earnings -$3.214M -$2.929M
YoY Change 9.75% 55.3%
Net Earnings / Revenue
Basic Earnings Per Share -$0.53 -$0.45
Diluted Earnings Per Share -$0.53 -$0.45
COMMON SHARES
Basic Shares Outstanding 6.042M 6.439M
Diluted Shares Outstanding 6.042M 6.439M

Balance Sheet

Concept 2020 Q4 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.94M $5.355M
YoY Change 496.47% -48.65%
Cash & Equivalents $31.94M $5.355M
Short-Term Investments
Other Short-Term Assets $412.8K $150.4K
YoY Change 174.39% 41.04%
Inventory
Prepaid Expenses $412.8K $150.4K
Receivables
Other Receivables
Total Short-Term Assets $32.35M $5.505M
YoY Change 487.67% -47.74%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $32.35M $5.505M
Total Long-Term Assets $0.00 $0.00
Total Assets $32.35M $5.505M
YoY Change 487.67% -47.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.67K $164.1K
YoY Change -85.58% 1489.76%
Accrued Expenses $445.9K $155.1K
YoY Change 187.43% 183.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.304M $319.3K
YoY Change 621.84% 391.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.200M
YoY Change
Total Long-Term Liabilities $1.200M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.304M $319.3K
Total Long-Term Liabilities $1.200M $0.00
Total Liabilities $3.504M $319.3K
YoY Change 997.72% 391.23%
SHAREHOLDERS EQUITY
Retained Earnings -$28.67M -$54.44M
YoY Change -47.34% 18.16%
Common Stock $57.52M $59.62M
YoY Change -3.53% 5.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $0.00
Shareholders Equity $28.85M $5.186M
YoY Change
Total Liabilities & Shareholders Equity $32.35M $5.505M
YoY Change 487.67% -47.74%

Cashflow Statement

Concept 2020 Q4 2019 Q4
OPERATING ACTIVITIES
Net Income -$3.214M -$2.929M
YoY Change 9.75% 55.3%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.326M -$455.5K
YoY Change 630.23% 13.15%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.123M -$1.800M
YoY Change -37.59% 114.29%
Cash From Investing Activities -$1.123M -$1.800M
YoY Change -37.59% 114.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -3.326M -455.5K
Cash From Investing Activities -1.123M -1.800M
Cash From Financing Activities 0.000
Net Change In Cash -4.450M -2.256M
YoY Change 97.28% 81.52%
FREE CASH FLOW
Cash From Operating Activities -$3.326M -$455.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">2.</div></div><div style="display: inline; background-color:#ffffff;"> Basis of Presentation</div></div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; text-indent: 24pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; background-color:#ffffff;">&nbsp;The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (&#x201c;US GAAP&#x201d;) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (&#x201c;SEC&#x201d;), including instructions to Form </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">10</div></div><div style="display: inline; background-color:#ffffff;">-Q and Article </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">8</div></div><div style="display: inline; background-color:#ffffff;"> of Regulation S-</div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">X.</div></div><div style="display: inline; background-color:#ffffff;"> Accordingly, they do </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">not</div></div><div style="display: inline; background-color:#ffffff;"> 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</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; background-color:#ffffff;">'s Form </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">10</div></div><div style="display: inline; background-color:#ffffff;">-K for the fiscal year ended </div><div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"><div style="display: inline; background-color:#ffffff;"> June&nbsp;</div></div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">30,</div></div><div style="display: inline; background-color:#ffffff;"> </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">2020.</div></div><div style="display: inline; background-color:#ffffff;"> The results of operations for the </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">three</div> and <div style="display: inline; font-style: italic; font: inherit;">six</div> months</div><div style="display: inline; background-color:#ffffff;">&nbsp;ended </div><div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"><div style="display: inline; background-color:#ffffff;"> December 31, 2020&nbsp;</div></div><div style="display: inline; background-color:#ffffff;">are </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">not</div></div><div style="display: inline; background-color:#ffffff;"> necessarily indicative of the results that </div><div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"><div style="display: inline; background-color:#ffffff;"> may </div></div><div style="display: inline; background-color:#ffffff;">be expected for the fiscal year ending </div><div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"><div style="display: inline; background-color:#ffffff;"> June&nbsp;</div></div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">30,</div></div><div style="display: inline; background-color:#ffffff;"> </div><div style="display: inline; background-color:#ffffff;"><div style="display: inline; font-style: italic; font: inherit;">2021.</div></div></div></div></div>
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
300000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7D
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3275004
CY2020Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2019Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1994767
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
32874
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6398193
CY2020Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6042150
CY2019Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6439273
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6309482
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6398193
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6042150
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6439273
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6309482
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6398193
CY2020Q2 us-gaap Treasury Stock Value
TreasuryStockValue
476672
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: justify; text-indent: 27pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Management Estimates.</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">.</div></div></div></div>
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6042150
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6439273
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6309482

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