$CTGO
Contango ORE, Inc.

2014 Q2 Form 10-Q Financial Statement

#000150237714000006 Filed on May 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 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 $460.0K $460.0K $620.0K
YoY Change -9.8% 84.0% -11.43%
% of Gross Profit
Research & Development $260.0K $210.0K $990.0K
YoY Change -92.82% -16.0% 115.22%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $730.0K $680.0K $1.610M
YoY Change -82.32% 36.0% 38.79%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$730.0K -$680.0K -$1.610M
YoY Change -82.32% 36.0% 38.79%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$730.0K -$679.5K -$1.614M
YoY Change -82.32% 35.62% 38.92%
Net Earnings / Revenue
Basic Earnings Per Share -$0.18 -$0.43
Diluted Earnings Per Share -$192.1K -$0.18 -$0.43
COMMON SHARES
Basic Shares Outstanding 3.806M shares 3.806M shares 3.750M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.450M $3.940M $4.380M
YoY Change -73.52% -75.28% 186.27%
Cash & Equivalents $3.449M $3.942M $4.380M
Short-Term Investments
Other Short-Term Assets $100.0K $90.00K $150.0K
YoY Change 0.0% 50.0% 66.67%
Inventory
Prepaid Expenses $98.91K $94.77K $149.7K
Receivables
Other Receivables
Total Short-Term Assets $3.547M $4.037M $4.530M
YoY Change -72.98% -74.78% 178.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.210M $1.210M $1.210M
YoY Change 0.0% 0.0% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $225.0K $225.0K $225.0K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $1.434M $1.434M $1.434M
YoY Change 0.0% 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $3.547M $4.037M $4.530M
Total Long-Term Assets $1.434M $1.434M $1.434M
Total Assets $4.981M $5.471M $5.964M
YoY Change -65.8% -68.63% 94.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.1K $97.64K $144.3K
YoY Change -91.54% -88.11% 10.33%
Accrued Expenses $46.50K $45.18K $4.032K
YoY Change -50.68% -83.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.6K $142.8K $148.3K
YoY Change -89.34% -82.61% -4.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $186.6K $142.8K $148.3K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $190.0K $140.0K $150.0K
YoY Change -89.14% -82.93% -6.25%
SHAREHOLDERS EQUITY
Retained Earnings -$27.45M -$26.72M -$26.04M
YoY Change 50.4% 89.3% 91.28%
Common Stock $32.24M $32.05M $31.86M
YoY Change 3.8% 4.27% 92.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.795M $5.328M $5.815M
YoY Change
Total Liabilities & Shareholders Equity $4.981M $5.471M $5.964M
YoY Change -65.8% -68.63% 94.96%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income -$730.0K -$679.5K -$1.614M
YoY Change -82.32% 35.62% 38.92%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$490.0K -$440.0K -$5.050M
YoY Change -83.22% -215.79% 253.15%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $100.0K
YoY Change
Cash From Investing Activities $0.00 $0.00 $100.0K
YoY Change -150.0%
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 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -490.0K -440.0K -5.050M
Cash From Investing Activities 0.000 0.000 100.0K
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -490.0K -440.0K -4.950M
YoY Change -83.22% -103.05% 203.68%
FREE CASH FLOW
Cash From Operating Activities -$490.0K -$440.0K -$5.050M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$490.0K -$440.0K -$5.050M
YoY Change -83.22% -215.79% 310.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Basis Of Accounting
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CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
5328321 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
12813989 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
5815269 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Management Estimates.</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3805539 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2537466 shares
mcf Acquisition Costs Mining Properties Period Cost
AcquisitionCostsMiningPropertiesPeriodCost
0 USD
mcf Acquisition Costs Mining Properties Period Cost
AcquisitionCostsMiningPropertiesPeriodCost
200000 USD
CY2013Q1 mcf Acquisition Costs Mining Properties Period Cost
AcquisitionCostsMiningPropertiesPeriodCost
0 USD
CY2014Q1 mcf Acquisition Costs Mining Properties Period Cost
AcquisitionCostsMiningPropertiesPeriodCost
0 USD
CY2013Q2 mcf Acreage Of Unpatented Mining Claims
AcreageOfUnpatentedMiningClaims
24800 acre
CY2013Q1 mcf Acreage Of Unpatented Mining Claims
AcreageOfUnpatentedMiningClaims
15360 acre
CY2014Q1 mcf Advance Minimum Royalty
AdvanceMinimumRoyalty
75000 USD
CY2014Q1 mcf Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost
CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost
254174 USD
CY2013Q1 mcf Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost
CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost
278415 USD
mcf Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost
CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost
4776952 USD
mcf Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost
CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost
23644630 USD
mcf Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost
CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost
6874708 USD
CY2011Q3 mcf Decrease In Royalty Rates
DecreaseInRoyaltyRates
0.0050
CY2011Q2 mcf Decrease In Royalty Rates
DecreaseInRoyaltyRates
0.0025
CY2014Q1 mcf Deposit On Advance Minimum Royalty
DepositOnAdvanceMinimumRoyalty
40000 USD
mcf Exploration Costs And Claim Rentals Mining Properties Period Cost
ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost
6874708 USD
mcf Exploration Costs And Claim Rentals Mining Properties Period Cost
ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost
22435744 USD
CY2014Q1 mcf Exploration Costs And Claim Rentals Mining Properties Period Cost
ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost
254174 USD
mcf Exploration Costs And Claim Rentals Mining Properties Period Cost
ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost
4576952 USD
CY2013Q1 mcf Exploration Costs And Claim Rentals Mining Properties Period Cost
ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost
278415 USD
CY2011Q3 mcf Payment By Leasor To Reduce Royalty Rate
PaymentByLeasorToReduceRoyaltyRate
150000 USD
CY2013Q1 mcf Payment By Lessee To Remove Acreage Renewal Restriction
PaymentByLesseeToRemoveAcreageRenewalRestriction
200000 USD
CY2013Q1 mcf Percentage Of Acreage Available For Renewal
PercentageOfAcreageAvailableForRenewal
0.50
CY2014Q1 mcf Percentage Of Acreage Available For Renewal
PercentageOfAcreageAvailableForRenewal
0.50
CY2012Q4 mcf Maximum Percentageownershipbypersonsotherthan Ken Peaksestatebeforerightsareexercisable
MaximumPercentageownershipbypersonsotherthanKenPeaksestatebeforerightsareexercisable
0.20
CY2013Q1 mcf Numberofsharespreferentialrightwillallowholdertopurchase
Numberofsharespreferentialrightwillallowholdertopurchase
1/100
CY2014Q1 mcf Options And Warrants Outstanding
OptionsAndWarrantsOutstanding
1692666 shares
CY2011Q2 mcf Payment By Leasor To Reduce Royalty Rate
PaymentByLeasorToReduceRoyaltyRate
75000 USD
CY2012Q4 mcf Rate Of Rights Distribution
RateOfRightsDistribution
1
mcf Share Based Compensation Expense
ShareBasedCompensationExpense
689747 USD
mcf Share Based Compensation Expense
ShareBasedCompensationExpense
2079480 USD
CY2013Q1 mcf Share Based Compensation Expense
ShareBasedCompensationExpense
127540 USD
CY2014Q1 mcf Share Based Compensation Expense
ShareBasedCompensationExpense
122951 USD
mcf Share Based Compensation Expense
ShareBasedCompensationExpense
858164 USD
CY2012Q3 mcf Unpatented Mining Claims
UnpatentedMiningClaims
223
CY2013Q2 mcf Unpatented Mining Claims
UnpatentedMiningClaims
155
CY2013Q1 mcf Unpatented Mining Claims
UnpatentedMiningClaims
96
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001502377
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3805539 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
Contango ORE, Inc.
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0001502377-14-000006.txt Edgar Link pending
0001502377-14-000006-xbrl.zip Edgar Link pending
ctgo-20140331x10q.htm Edgar Link pending
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