$CTGO
Contango ORE, Inc. Stock $ctgo

$ctgo Overview Financials Valuation SEC Filings Company Website

2016 Q3 Form 10-Q Financial Statement

#000150237716000036 Filed on November 10, 2016

Income Statement

Concept	2016 Q3	2015 Q3	2015 Q2
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$960.0K	$450.0K	$280.0K
YoY Change	113.33%	-52.13%	-39.13%
% of Gross Profit
Research & Development		$0.00	$10.00K
YoY Change		-100.0%	-96.15%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$960.0K	$450.0K	$290.0K
YoY Change	113.33%	-56.73%	-60.27%
Operating Profit
YoY Change
Interest Expense		$0.00	-$1.270M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$960.0K	-$450.0K	-$1.560M
YoY Change	113.33%	-56.73%	113.7%
Income Tax	$0.00		$0.00
% Of Pretax Income
Net Earnings	-$955.7K	-$450.5K	-$1.560M
YoY Change	112.13%	-56.57%	113.7%
Net Earnings / Revenue
Basic Earnings Per Share	-$0.24	-$0.12
Diluted Earnings Per Share	-$0.24	-$0.12	-$402.1K
COMMON SHARES
Basic Shares Outstanding	3.994M		3.876M shares
Diluted Shares Outstanding	3.994M

Balance Sheet

Concept	2016 Q3	2015 Q3	2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.140M	$1.780M	$1.950M
YoY Change	-35.96%	-33.33%	-43.48%
Cash & Equivalents	$1.141M	$1.783M	$1.947M
Short-Term Investments
Other Short-Term Assets	$30.00K	$40.00K	$70.00K
YoY Change	-25.0%	-20.0%	-30.0%
Inventory
Prepaid Expenses	$29.74K	$36.30K	$67.38K
Receivables
Other Receivables
Total Short-Term Assets	$1.170M	$1.820M	$2.014M
YoY Change	-35.69%	-33.14%	-43.21%
LONG-TERM ASSETS
Property, Plant & Equipment			$0.00
YoY Change			-100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$0.00	$0.00	$0.00
YoY Change
Other Assets	$0.00	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Total Long-Term Assets	$0.00	$0.00	$0.00
YoY Change		-100.0%	-100.0%
TOTAL ASSETS
Total Short-Term Assets	$1.170M	$1.820M	$2.014M
Total Long-Term Assets	$0.00	$0.00	$0.00
Total Assets	$1.170M	$1.820M	$2.014M
YoY Change	-35.69%	-56.21%	-59.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$54.54K	$9.056K	$24.88K
YoY Change	502.23%	-95.67%	-82.25%
Accrued Expenses	$244.2K	$129.1K	$78.10K
YoY Change	89.07%	570.48%	67.97%
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	$298.7K	$138.2K	$103.0K
YoY Change	116.15%	-39.51%	-44.82%
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	$298.7K	$138.2K	$103.0K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$300.0K	$140.0K	$100.0K
YoY Change	114.29%	-39.13%	-47.37%
SHAREHOLDERS EQUITY
Retained Earnings	-$33.23M	-$31.51M	-$31.06M
YoY Change	5.48%	10.61%	13.14%
Common Stock	$34.10M	$33.19M	$32.97M
YoY Change	2.76%	2.39%	2.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$871.6K	$1.682M	$1.911M
YoY Change
Total Liabilities & Shareholders Equity	$1.170M	$1.820M	$2.014M
YoY Change	-35.69%	-56.21%	-59.56%

Cashflow Statement

Concept	2016 Q3	2015 Q3	2015 Q2
OPERATING ACTIVITIES
Net Income	-$955.7K	-$450.5K	-$1.560M
YoY Change	112.13%	-56.57%	113.7%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$113.9K	-$163.6K	-$110.0K
YoY Change	-30.35%	-79.03%	-77.55%
INVESTING ACTIVITIES
Capital Expenditures			$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change
Cash From Investing Activities			$0.00
YoY Change
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	-113.9K	-$163.6K	-110.0K
Cash From Investing Activities			0.000
Cash From Financing Activities			0.000
Net Change In Cash	-113.9K	-$163.6K	-110.0K
YoY Change	-30.35%	-79.03%	-77.55%
FREE CASH FLOW
Cash From Operating Activities	-$113.9K	-$163.6K	-$110.0K
Capital Expenditures			$0.00
Free Cash Flow			-$110.0K
YoY Change			-77.55%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2012Q3	ctgo	Acreageof Unpatented Mining Claims Alaska AcreageofUnpatentedMiningClaimsAlaska	71896	acre
CY2016Q3	ctgo	Beneficial Ownership Required For Rights To Be Exercisable BeneficialOwnershipRequiredForRightsToBeExercisable	0.23	Rate
CY2016Q3	ctgo	Contango Joint Venture Percentage ContangoJointVenturePercentage	0
CY2015Q1	ctgo	Contango Joint Venture Percentage ContangoJointVenturePercentage	1.00
CY2016Q3	ctgo	Contangospercentageofinterestin Joint Venture Company ContangospercentageofinterestinJointVentureCompany	0.85
CY2015Q3	ctgo	Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost	14425	USD
CY2016Q3	ctgo	Costs Of Unproved Properties Excluded From Amortization Mining Properties Period Cost CostsOfUnprovedPropertiesExcludedFromAmortizationMiningPropertiesPeriodCost	0	USD
CY2015Q3	ctgo	Exploration Costs And Claim Rentals Mining Properties Period Cost ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost	14425	USD
CY2016Q3	ctgo	Exploration Costs And Claim Rentals Mining Properties Period Cost ExplorationCostsAndClaimRentalsMiningPropertiesPeriodCost	0	USD
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CY2016Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	244161	USD
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CY2015Q3	ctgo	Generaland Administrative Expenseof Equity Method Investment GeneralandAdministrativeExpenseofEquityMethodInvestment	354254	USD
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CY2015Q1	ctgo	Jointadventureeconomicinterest Jointadventureeconomicinterest	0.40
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CY2016Q3	dei	Document Period End Date DocumentPeriodEndDate	2016-09-30
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CY2015Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	3880210	shares
CY2016Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	3993766	shares
CY2016Q3	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:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recently Issued Accounting Pronouncements. </font><font style="font-family:inherit;font-size:10pt;">In March 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2016-09: </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09)</font><font style="font-family:inherit;font-size:10pt;">. ASU 2016‑-09 is part of an initiative to reduce complexity in accounting standards. The areas of simplification in ASU 2016‑-09 involve several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. </font></div><div style="line-height:120%;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:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued ASU No. 2015-17: </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.</font><font style="font-family:inherit;font-size:10pt;"> ASU No. 2015-17 provides guidance on the presentation of deferred income taxes that requires deferred tax assets and liabilities, along with related valuation allowances, to be classified as non-current on the balance sheet. As a result, each tax jurisdiction will now only have one net non-current deferred tax asset or liability. The new guidance does not change the existing requirement that prohibits offsetting deferred tax liabilities from one jurisdiction against deferred tax assets of another jurisdiction. The new guidance is effective for the Company’s fiscal year beginning July 1, 2017 and will only result in a change in presentation of these deferred taxes on our consolidated balance sheets. Early adoption is permitted, and we are currently evaluating the impact of this guidance on our consolidated financial statement</font></div><div style="line-height:120%;text-align:left;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:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The FASB has issued ASU No. 2015-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation (Topic 810): Amendments to the Consolidation Analysis</font><font style="font-family:inherit;font-size:10pt;">, which is intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). The ASU focuses on the consolidation evaluation for reporting organizations (public and private companies and not-for-profit organizations) that are required to evaluate whether they should consolidate certain legal entities. The ASU will be effective for annual periods beginning after December 15, 2015; and for interim periods, within those fiscal years. Early adoption of this ASU is permitted for financial statements that have not been previously issued.</font></div><div style="line-height:120%;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;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">         The FASB has issued ASU No. 2015-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.</font><font style="font-family:inherit;font-size:10pt;"> This ASU eliminates from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Statement - Extraordinary and Unusual Items</font><font style="font-family:inherit;font-size:10pt;">, required that an entity separately classify, present, and disclose extraordinary events and transactions. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of this ASU is permitted for financial statements that have not been previously issued.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company’s consolidated financial statements.</font></div></div>
CY2016Q3	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;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:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“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 GAAP for complete annual consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair statement 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 audited financial statements and notes included in the Company’s Form 10-K for the fiscal year ended June 30, 2016. The results of operations for the three months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2017.</font></div></div>
CY2016Q3	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 consolidated 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>

Files In Submission

Name	View Source	Status
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0001502377-16-000036-index.html	Edgar Link	pending
0001502377-16-000036.txt	Edgar Link	pending
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a2015ph2ddhwithzones1.jpg	Edgar Link	pending
a2016phase1explorationprogra.jpg	Edgar Link	pending
coremanagementservicesagre.htm	Edgar Link	pending
ctgo-20160331.xml	Edgar Link	completed
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ctgo-20160331_pre.xml	Edgar Link	unprocessable
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ctgo-20160930x10qxex311.htm	Edgar Link	pending
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ctgo-20160930x10qxex322.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
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2016 Q3 Form 10-Q Financial Statement

#000150237716000036 Filed on November 10, 2016

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2016 Q3 Form 10-Q Financial Statement

#000150237716000036 Filed on November 10, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

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Contango ORE, Inc. Stock $ctgo