$CTGO
Contango ORE, Inc.

2015 Form 10-K Financial Statement

#000150237715000016 Filed on October 13, 2015

View on sec.gov

Income Statement

Concept 2015 2014 Q2 2014
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.561M $460.0K $2.200M
YoY Change 16.39% -9.8% 11.68%
% of Gross Profit
Research & Development $363.5K $260.0K $7.000M
YoY Change -94.81% -92.82% -13.26%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.924M $730.0K $9.200M
YoY Change -68.22% -82.32% -8.28%
Operating Profit
YoY Change
Interest Expense -$1.434M -$1.430M
YoY Change 0.27%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.608M -$730.0K -$9.200M
YoY Change -60.78% -82.32% -8.28%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.608M -$730.0K -$9.198M
YoY Change -60.78% -82.32% -8.32%
Net Earnings / Revenue
Basic Earnings Per Share $2.43
Diluted Earnings Per Share -$938.9K -$192.1K -$2.434M
COMMON SHARES
Basic Shares Outstanding 3.806M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 2014 Q2 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.947M $3.450M $3.450M
YoY Change -43.56% -73.52% -73.52%
Cash & Equivalents $3.449M
Short-Term Investments
Other Short-Term Assets $67.38K $100.0K $100.0K
YoY Change -32.62% 0.0% 0.0%
Inventory
Prepaid Expenses $98.91K
Receivables
Other Receivables
Total Short-Term Assets $2.014M $3.547M $3.550M
YoY Change -43.26% -72.98% -72.96%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $1.210M $1.210M
YoY Change -100.0% 0.0% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $0.00 $225.0K $230.0K
YoY Change -100.0% 0.0% 0.0%
Total Long-Term Assets $0.00 $1.434M $1.430M
YoY Change -100.0% 0.0% 0.0%
TOTAL ASSETS
Total Short-Term Assets $2.014M $3.547M $3.550M
Total Long-Term Assets $0.00 $1.434M $1.430M
Total Assets $2.014M $4.981M $4.980M
YoY Change -59.55% -65.8% -65.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.88K $140.1K $140.0K
YoY Change -82.23% -91.54% -91.57%
Accrued Expenses $78.10K $46.50K $50.00K
YoY Change 56.2% -50.68% -44.44%
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 $103.0K $186.6K $190.0K
YoY Change -45.8% -89.34% -89.14%
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 $103.0K $186.6K $190.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $103.0K $190.0K $190.0K
YoY Change -45.8% -89.14% -89.14%
SHAREHOLDERS EQUITY
Retained Earnings -$27.45M
YoY Change 50.4%
Common Stock $32.24M
YoY Change 3.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.911M $4.795M $4.790M
YoY Change
Total Liabilities & Shareholders Equity $2.014M $4.981M $4.980M
YoY Change -59.55% -65.8% -65.8%

Cashflow Statement

Concept 2015 2014 Q2 2014
OPERATING ACTIVITIES
Net Income -$3.608M -$730.0K -$9.198M
YoY Change -60.78% -82.32% -8.32%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.501M -$490.0K -$9.579M
YoY Change -84.33% -83.22% 11.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 0.000 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$1.501M -490.0K -$9.579M
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities $0.00 0.000 $0.00
Net Change In Cash -$1.501M -490.0K -$9.579M
YoY Change -84.33% -83.22% -282.03%
FREE CASH FLOW
Cash From Operating Activities -$1.501M -$490.0K -$9.579M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.501M -$490.0K -$9.579M
YoY Change -84.33% -83.22% 14.51%

Facts In Submission

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CY2014Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2015Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1433886 USD
CY2013 us-gaap Payments To Acquire Mining Assets
PaymentsToAcquireMiningAssets
200000 USD
CY2014 us-gaap Payments To Acquire Mining Assets
PaymentsToAcquireMiningAssets
0 USD
CY2015 us-gaap Payments To Acquire Mining Assets
PaymentsToAcquireMiningAssets
0 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1501455 USD
CY2015Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1400000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4981293 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-10032683 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-9198222 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-3607953 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
29000 USD
CY2015Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5100000 USD
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
225000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
0 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2014430 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
186633 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
102980 USD
CY2014Q2 us-gaap Mineral Properties Accumulated Depletion
MineralPropertiesAccumulatedDepletion
0 USD
CY2015Q2 us-gaap Mineral Properties Accumulated Depletion
MineralPropertiesAccumulatedDepletion
0 USD
CY2014Q2 us-gaap Mineral Properties Gross
MineralPropertiesGross
1208886 USD
CY2015Q2 us-gaap Mineral Properties Gross
MineralPropertiesGross
0 USD
CY2014Q2 us-gaap Mineral Properties Net
MineralPropertiesNet
1208886 USD
CY2015Q2 us-gaap Mineral Properties Net
MineralPropertiesNet
0 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14028135 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-200000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8565468 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9579431 USD
CY2013 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
CY2014 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
100000 USD
CY2015 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2014Q2 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2015Q2 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2014Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
98906 USD
CY2015Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
67384 USD
CY2013 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2014 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
100000 USD
CY2015 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2013 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
14028135 USD
CY2014 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2015 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2013 us-gaap Profit Loss
ProfitLoss
-10032683 USD
CY2014 us-gaap Profit Loss
ProfitLoss
-9198222 USD
CY2015 us-gaap Profit Loss
ProfitLoss
-3607953 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27447397 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-31055350 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
1483021 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
1178893 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
724743 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-33333 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-16667 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.00
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.00
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1000000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
622000 USD
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
438000 USD
CY2013 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
4.37 USD
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
70667 shares
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9943755 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
707 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
7335516 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
12813989 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
4794660 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1911450 USD
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2837523 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3782061 shares
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3842909 shares
CY2012 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><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></div></div>
CY2012 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;). </font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. Since the Company&#8217;s primary business is now the investment in and management of the Joint Venture Company, it expects that its ongoing cash requirements will only be related to general and administration expenses. Given this, the Company believes that its current cash balances will be sufficient to meet its working capital requirements for the next twelve months.</font></div></div>
CY2012 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><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></div></div>
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><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></div></div>

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