$FTCO
Fortitude Gold Corp

2021 Q1 Form 10-Q Financial Statement

#000155837021006810 Filed on May 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $20.66M $5.857M
YoY Change 252.65%
Cost Of Revenue $46.00K $57.00K
YoY Change -19.3%
Gross Profit $10.89M -$444.0K
YoY Change -2553.38%
Gross Profit Margin 52.74% -7.58%
Selling, General & Admin $6.160M
YoY Change
% of Gross Profit 56.55%
Research & Development $1.317M
YoY Change
% of Gross Profit 12.09%
Depreciation & Amortization $3.700M $1.400M
YoY Change 164.29%
% of Gross Profit 33.97%
Operating Expenses $7.478M
YoY Change
Operating Profit $3.415M
YoY Change
Interest Expense $36.00K $30.00K
YoY Change 20.0%
% of Operating Profit 1.05%
Other Income/Expense, Net -$37.00K -$48.00K
YoY Change -22.92%
Pretax Income $3.379M -$1.263M
YoY Change -367.54%
Income Tax $1.000M $100.0K
% Of Pretax Income 29.59%
Net Earnings $2.401M -$1.388M
YoY Change -272.98%
Net Earnings / Revenue 11.62% -23.7%
Basic Earnings Per Share $0.10 -$139.00
Diluted Earnings Per Share $0.10 -$139.00
COMMON SHARES
Basic Shares Outstanding 23.61M 10.00K
Diluted Shares Outstanding 23.78M 10.00K

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.17M
YoY Change
Cash & Equivalents $35.17M $251.0K
Short-Term Investments
Other Short-Term Assets $93.00K
YoY Change
Inventory $27.38M
Prepaid Expenses
Receivables $1.659M
Other Receivables $0.00
Total Short-Term Assets $66.35M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $45.01M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.951M
YoY Change
Total Long-Term Assets $52.52M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $66.35M
Total Long-Term Assets $52.52M
Total Assets $118.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.254M
YoY Change
Accrued Expenses $5.261M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $749.0K
YoY Change
Total Short-Term Liabilities $10.75M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $120.0K
YoY Change
Other Long-Term Liabilities $4.002M
YoY Change
Total Long-Term Liabilities $4.122M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.75M
Total Long-Term Liabilities $4.122M
Total Liabilities $14.87M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $475.0K
YoY Change
Common Stock $239.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $104.0M $69.66M
YoY Change
Total Liabilities & Shareholders Equity $118.9M
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $2.401M -$1.388M
YoY Change -272.98%
Depreciation, Depletion And Amortization $3.700M $1.400M
YoY Change 164.29%
Cash From Operating Activities $7.339M -$1.948M
YoY Change -476.75%
INVESTING ACTIVITIES
Capital Expenditures $104.0K $3.447M
YoY Change -96.98%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$104.0K -$3.447M
YoY Change -96.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $500.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 162.0K 4.780M
YoY Change -96.61%
NET CHANGE
Cash From Operating Activities 7.339M -1.948M
Cash From Investing Activities -104.0K -3.447M
Cash From Financing Activities 162.0K 4.780M
Net Change In Cash 7.397M -615.0K
YoY Change -1302.76%
FREE CASH FLOW
Cash From Operating Activities $7.339M -$1.948M
Capital Expenditures $104.0K $3.447M
Free Cash Flow $7.235M -$5.395M
YoY Change -234.11%

Facts In Submission

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CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
195000
CY2021Q1 us-gaap Other Assets Current
OtherAssetsCurrent
93000
CY2020Q4 us-gaap Other Assets Current
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97000
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
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2142000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
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1962000
CY2021Q1 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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24502000
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CY2020Q4 us-gaap Property Plant And Equipment Net
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1800000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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1800000
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600000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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600000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
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3700000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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100000
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592000
CY2020Q4 us-gaap Accrued Royalties Current
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718000
CY2021Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
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88000
CY2020Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
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353000
CY2021Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2000
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
10000
CY2021Q1 us-gaap Other Accrued Liabilities Current
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10000
CY2020Q4 us-gaap Other Accrued Liabilities Current
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11000
CY2021Q1 us-gaap Other Liabilities Current
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692000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1092000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3844000
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2486000
CY2021Q1 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
92000
CY2020 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
1159000
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
11000
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
77000
CY2020 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
199000
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
4002000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3844000
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
4000000.0
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
600000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4625000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
800000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
500000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3800000
CY2021Q1 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
80000.00
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ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
5500000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P0Y6M29D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0448
CY2021Q1 us-gaap Lessee Operating Lease Existence Of Residual Value Guarantee
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false
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4625000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
56000
CY2021Q1 us-gaap Operating Lease Liability
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4569000
CY2021Q1 us-gaap Operating Lease Liability Current
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4569000
CY2021Q1 fgc Finance Lease Monthly Principal Interest And Sales Tax Payments
FinanceLeaseMonthlyPrincipalInterestAndSalesTaxPayments
40000.00
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0576
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
291000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
13000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
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13000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
4000
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
321000
CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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8000
CY2021Q1 us-gaap Finance Lease Liability
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313000
CY2021Q1 us-gaap Finance Lease Liability Current
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288000
CY2021Q1 us-gaap Finance Lease Liability Noncurrent
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25000
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021Q1 us-gaap Operating Lease Payments
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CY2020Q1 us-gaap Operating Lease Payments
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CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5000
CY2020Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
12000
CY2020Q1 us-gaap Operating Lease Payments Use
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CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
112000
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
107000
CY2021Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Interest Expense
InterestExpense
36000
CY2020Q1 us-gaap Interest Expense
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CY2021Q1 fgc Charitable Contributions
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3000
CY2020Q1 fgc Charitable Contributions
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CY2021Q1 us-gaap Other Nonoperating Income
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2000
CY2020Q1 us-gaap Other Nonoperating Income
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7000
CY2021Q1 us-gaap Nonoperating Income Expense
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CY2020Q1 us-gaap Nonoperating Income Expense
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CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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10000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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163548
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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23778014
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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10000
CY2021Q1 us-gaap Earnings Per Share Basic
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0.10
CY2020Q1 us-gaap Earnings Per Share Basic
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CY2021Q1 us-gaap Earnings Per Share Diluted
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0.10
CY2020Q1 us-gaap Earnings Per Share Diluted
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-139
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3100000

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