$METC
Ramaco Resources, Inc.

2018 Q2 Form 10-Q Financial Statement

#000143774918014598 Filed on August 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $1.998K $11.07M
YoY Change -99.98%
Cost Of Revenue $47.86M $11.77M
YoY Change 306.46%
Gross Profit $17.42M -$701.0K
YoY Change -2584.74%
Gross Profit Margin 871771.77% -6.33%
Selling, General & Admin $3.692M $2.499M
YoY Change 47.73% 595.22%
% of Gross Profit 21.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.955M $310.9K
YoY Change 850.62%
% of Gross Profit 16.97%
Operating Expenses $3.692M $2.499M
YoY Change 47.73% 595.22%
Operating Profit $10.65M -$3.710M
YoY Change -386.98% 514.92%
Interest Expense $315.8K $212.00
YoY Change 148843.87% -97.76%
% of Operating Profit 2.97%
Other Income/Expense, Net $512.7K $121.5K
YoY Change 322.0%
Pretax Income $10.85M -$3.488M
YoY Change -410.95% 471.8%
Income Tax $642.3K $0.00
% Of Pretax Income 5.92%
Net Earnings $10.20M -$3.488M
YoY Change -392.52% 469.19%
Net Earnings / Revenue 510660.66% -31.5%
Basic Earnings Per Share $0.25 -$0.09
Diluted Earnings Per Share $0.25 -$0.09
COMMON SHARES
Basic Shares Outstanding 40.08M 39.07M
Diluted Shares Outstanding 40.34M 39.07M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.900M $52.70M
YoY Change -88.8% 17466.67%
Cash & Equivalents $5.911M $2.858M
Short-Term Investments $0.00 $49.80M
Other Short-Term Assets $2.900M $800.0K
YoY Change 262.5% 300.0%
Inventory $11.29M $2.415M
Prepaid Expenses $2.870M $767.0K
Receivables $28.27M $1.870M
Other Receivables $0.00 $0.00
Total Short-Term Assets $48.34M $57.75M
YoY Change -16.3% 11450.57%
LONG-TERM ASSETS
Property, Plant & Equipment $136.6M $88.33M
YoY Change 54.61% 385.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $524.6K $218.7K
YoY Change 139.89% 9.35%
Total Long-Term Assets $139.9M $91.34M
YoY Change 53.16% 393.7%
TOTAL ASSETS
Total Short-Term Assets $48.34M $57.75M
Total Long-Term Assets $139.9M $91.34M
Total Assets $188.2M $149.1M
YoY Change 26.25% 684.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.06M $16.31M
YoY Change 23.02% 2617.91%
Accrued Expenses $8.825M $385.6K
YoY Change 2188.49%
Deferred Revenue
YoY Change
Short-Term Debt $14.80M $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $44.52M $17.73M
YoY Change 151.17% 2115.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $12.20M $26.96K
YoY Change 45158.94% -99.79%
Total Long-Term Liabilities $12.20M $26.96K
YoY Change 45158.94% -99.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.52M $17.73M
Total Long-Term Liabilities $12.20M $26.96K
Total Liabilities $58.11M $27.53M
YoY Change 111.09% 68.9%
SHAREHOLDERS EQUITY
Retained Earnings -$19.82M -$26.46M
YoY Change -25.08%
Common Stock $149.9M $148.0M
YoY Change 1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.1M $121.6M
YoY Change
Total Liabilities & Shareholders Equity $188.2M $149.1M
YoY Change 26.25% 684.67%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $10.20M -$3.488M
YoY Change -392.52% 469.19%
Depreciation, Depletion And Amortization $2.955M $310.9K
YoY Change 850.62%
Cash From Operating Activities $4.670M $5.700M
YoY Change -18.07% -392.31%
INVESTING ACTIVITIES
Capital Expenditures -$14.71M $24.49M
YoY Change -160.06% 5904.87%
Acquisitions
YoY Change
Other Investing Activities $0.00 $15.00M
YoY Change -100.0%
Cash From Investing Activities -$14.71M -$15.28M
YoY Change -3.73% 3626.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.620M -1.540M
YoY Change -659.74% -172.64%
NET CHANGE
Cash From Operating Activities 4.670M 5.700M
Cash From Investing Activities -14.71M -15.28M
Cash From Financing Activities 8.620M -1.540M
Net Change In Cash -1.420M -11.12M
YoY Change -87.23% 4533.33%
FREE CASH FLOW
Cash From Operating Activities $4.670M $5.700M
Capital Expenditures -$14.71M $24.49M
Free Cash Flow $19.38M -$18.79M
YoY Change -203.12% 697.05%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; text-indent: 19.8pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Concentrations&#x2014;</div>During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2018, </div>sales to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75%</div> of total revenue, respectively. The total balance due from these customers at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2018 </div>was approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71%</div> of total accounts receivable. During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>sales to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">87%</div> of total revenue. During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2017, </div>sales to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> customers accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73%</div> of total revenue.</div></div></div></div></div></div>
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CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2870297
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1104437
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
47709000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
13000000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3692254
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
3000000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136574558
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
115450841
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
10629275
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19821858
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-35291571
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
65278057
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11073502
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
121221205
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22611774
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2499280
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7123398
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6100643
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
5199861
us-gaap Share Based Compensation
ShareBasedCompensation
1245491
us-gaap Share Based Compensation
ShareBasedCompensation
2145333
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
5900000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.34
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
130112490
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
113397286
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40339749
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39072394
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40241917
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35592366
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40082467
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39072394
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39994386
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35592366

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