2012 Q2 Form 10-Q Financial Statement

#000114420412045494 Filed on August 14, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q4 2011 Q2
Revenue $182.5K $174.1K $120.2K
YoY Change 51.88%
Cost Of Revenue $196.0K $180.0K $100.0K
YoY Change 95.98%
Gross Profit -$13.45K -$76.75K $20.18K
YoY Change -166.65%
Gross Profit Margin -7.37% -44.07% 16.79%
Selling, General & Admin $3.510M $1.480M $2.250M
YoY Change 56.0% 102.74% 171.08%
% of Gross Profit 11149.65%
Research & Development $5.480M $1.830M $3.040M
YoY Change 80.26% 13.66% 139.37%
% of Gross Profit 15064.42%
Depreciation & Amortization $408.4K $150.0K $42.32K
YoY Change 864.84% -400.0% 5.81%
% of Gross Profit 209.73%
Operating Expenses $8.990M $3.460M $5.330M
YoY Change 68.67% 60.19% 149.07%
Operating Profit -$9.053M -$3.470M -$5.314M
YoY Change 70.36% 60.67% 148.32%
Interest Expense $52.74K $950.0K $11.79K
YoY Change 347.5% -121.74% -100.69%
% of Operating Profit
Other Income/Expense, Net $72.88K $20.00K $489.6K
YoY Change -85.11% -102.47% -711.94%
Pretax Income -$8.980M -$2.500M -$4.825M
YoY Change 86.14% -92.58% 23.07%
Income Tax -$76.08K
% Of Pretax Income
Net Earnings -$8.980M -$2.503M -$4.748M
YoY Change 89.12% -92.57% 21.13%
Net Earnings / Revenue -4920.12% -1437.19% -3951.26%
Basic Earnings Per Share -$0.26 -$0.11 -$0.26
Diluted Earnings Per Share -$0.26 -$0.11 -$0.26
COMMON SHARES
Basic Shares Outstanding 39.50M shares 23.10M shares
Diluted Shares Outstanding 39.50M shares 23.10M shares

Balance Sheet

Concept 2012 Q2 2011 Q4 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.310M $9.170M $21.47M
YoY Change -75.27% -69.22% 1331.33%
Cash & Equivalents $4.568M $6.955M $16.32M
Short-Term Investments $740.0K $2.210M $5.150M
Other Short-Term Assets $1.030M $1.840M $1.060M
YoY Change -2.83% -9.8% 562.5%
Inventory
Prepaid Expenses $1.032M $1.842M
Receivables
Other Receivables
Total Short-Term Assets $6.339M $11.01M $22.53M
YoY Change -71.86% -65.42% 1249.1%
LONG-TERM ASSETS
Property, Plant & Equipment $19.09M $9.384M $6.200M
YoY Change 207.93% 122.36% 91.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $151.8K $164.7K $1.050M
YoY Change -85.54% -84.46% -1.87%
Total Long-Term Assets $29.06M $15.97M $7.320M
YoY Change 297.01% 202.29% 69.84%
TOTAL ASSETS
Total Short-Term Assets $6.339M $11.01M $22.53M
Total Long-Term Assets $29.06M $15.97M $7.320M
Total Assets $35.40M $26.97M $29.85M
YoY Change 18.59% -27.34% 399.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.057M $1.755M $1.020M
YoY Change 395.79% 114.07% 30.77%
Accrued Expenses $4.650M $4.151M $4.250M
YoY Change 9.4% 4.31% -37.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $391.6K $138.2K $50.00K
YoY Change 683.27% -82.05% -99.69%
Total Short-Term Liabilities $10.10M $6.045M $5.320M
YoY Change 89.82% 8.53% -77.34%
LONG-TERM LIABILITIES
Long-Term Debt $3.762M $1.299M $980.0K
YoY Change 283.87% 91.01% -84.76%
Other Long-Term Liabilities $2.620M $5.030M
YoY Change -47.91% -42.97%
Total Long-Term Liabilities $6.378M $4.331M $6.010M
YoY Change 6.12% -37.13% -60.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.10M $6.045M $5.320M
Total Long-Term Liabilities $6.378M $4.331M $6.010M
Total Liabilities $16.48M $10.38M $11.33M
YoY Change 45.42% -16.72% -70.75%
SHAREHOLDERS EQUITY
Retained Earnings -$143.2M -$126.9M
YoY Change
Common Stock $26.31K $19.31K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.92M $16.60M $18.52M
YoY Change
Total Liabilities & Shareholders Equity $35.40M $26.97M $29.85M
YoY Change 18.59% -27.33% 399.16%

Cashflow Statement

Concept 2012 Q2 2011 Q4 2011 Q2
OPERATING ACTIVITIES
Net Income -$8.980M -$2.503M -$4.748M
YoY Change 89.12% -92.57% 21.13%
Depreciation, Depletion And Amortization $408.4K $150.0K $42.32K
YoY Change 864.84% -400.0% 5.81%
Cash From Operating Activities -$5.660M -$2.240M -$3.310M
YoY Change 71.0% -33.33% 77.01%
INVESTING ACTIVITIES
Capital Expenditures -$4.960M -$4.600M -$880.0K
YoY Change 463.64% 9100.0% 8700.0%
Acquisitions
YoY Change
Other Investing Activities -$70.00K $840.0K $970.0K
YoY Change -107.22% -119.18%
Cash From Investing Activities -$5.020M -$3.760M $100.0K
YoY Change -5120.0% -15.12% -600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.00K -10.00K -10.00K
YoY Change 500.0% -100.03% -100.34%
NET CHANGE
Cash From Operating Activities -5.660M -2.240M -3.310M
Cash From Investing Activities -5.020M -3.760M 100.0K
Cash From Financing Activities -60.00K -10.00K -10.00K
Net Change In Cash -10.74M -6.010M -3.220M
YoY Change 233.54% -123.77% -398.15%
FREE CASH FLOW
Cash From Operating Activities -$5.660M -$2.240M -$3.310M
Capital Expenditures -$4.960M -$4.600M -$880.0K
Free Cash Flow -$700.0K $2.360M -$2.430M
YoY Change -71.19% -171.3% 30.65%

Facts In Submission

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us-gaap Interest Paid
InterestPaid
101449
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
56642
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
71231929 shares
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
4133275
us-gaap Net Income Loss
NetIncomeLoss
-16312944
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
401094
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18521219
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
113516
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
484700
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
498147
us-gaap Interest Expense
InterestExpense
97948
lode Asset Retirement Obligation Accretion Expense Accrued
AssetRetirementObligationAccretionExpenseAccrued
68066
lode Dividends Paid In Common Stock
DividendsPaidInCommonStock
812
lode Dividend Rate Percentage
DividendRatePercentage
0.075 pure
CY2012Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1900000
CY2012Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9078948 shares
CY2012Q1 us-gaap Equity Issuance Per Share Amount
EquityIssuancePerShareAmount
1.90
CY2012Q1 lode Proceeds From Issuance Of Common Stock Net Of Expenses
ProceedsFromIssuanceOfCommonStockNetOfExpenses
15300000
CY2012Q1 lode Underwriting Fees Costs
UnderwritingFeesCosts
1400000
CY2012Q1 lode Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
17250000
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
5434234
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5314059
CY2011Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
42324
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2011Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
99995
CY2011Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
42324
CY2011Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
14846
CY2011Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1196871
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1604258
CY2011Q2 us-gaap Exploration Expense Mining
ExplorationExpenseMining
3039582
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23096866 shares
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4824507
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2011Q2 us-gaap Professional Fees
ProfessionalFees
648075
CY2011Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2011Q2 us-gaap Revenues
Revenues
120175
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
-4748426
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
489552
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-76081
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5945297
CY2011Q2 us-gaap Interest Expense
InterestExpense
11785
CY2012Q2 us-gaap Costs And Expenses
CostsAndExpenses
9235745
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9053222
CY2012Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
408360
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2012Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
195972
CY2012Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
408360
CY2012Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
7714
CY2012Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1102398
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2723697
CY2012Q2 us-gaap Exploration Expense Mining
ExplorationExpenseMining
5125426
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39503340 shares
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-8980346
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2012Q2 us-gaap Professional Fees
ProfessionalFees
782290
CY2012Q2 us-gaap Additions To Noncurrent Assets
AdditionsToNoncurrentAssets
6332874
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39503340 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2012Q2 us-gaap Revenues
Revenues
182523
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1539139
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-8980346
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
72876
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10082744
CY2012Q2 us-gaap Interest Expense
InterestExpense
52738

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