$PZG
Paramount Gold Nevada Corp

2014 Q3 Form 10-Q Financial Statement

#000156459015010280 Filed on November 10, 2015

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q2
Revenue $30.49K
YoY Change 509.72%
Cost Of Revenue $130.0K
YoY Change
Gross Profit -$100.0K
YoY Change
Gross Profit Margin -328.02%
Selling, General & Admin $70.00K
YoY Change -36.36%
% of Gross Profit
Research & Development $240.0K
YoY Change -46.67%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $844.2K
YoY Change 26.0%
Operating Profit -$813.3K
YoY Change 21.38%
Interest Expense -$720.0K
YoY Change 22.03%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.530M
YoY Change 21.43%
Income Tax
% Of Pretax Income
Net Earnings -$1.467M
YoY Change 16.11%
Net Earnings / Revenue -4812.75%
Basic Earnings Per Share $0.18
Diluted Earnings Per Share $0.18
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $980.0K
YoY Change
Cash & Equivalents $970.0K $75.29K
Short-Term Investments $10.00K
Other Short-Term Assets $430.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.400M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $28.04M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.660M
YoY Change
Total Long-Term Assets $30.70M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.400M
Total Long-Term Assets $30.70M
Total Assets $32.10M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.00K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.66M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.300M
YoY Change
Total Long-Term Liabilities $1.300M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $17.66M
Total Long-Term Liabilities $1.300M
Total Liabilities $18.96M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.66M $17.83M
YoY Change
Total Liabilities & Shareholders Equity $32.10M
YoY Change

Cashflow Statement

Concept 2014 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income -$1.467M
YoY Change 16.11%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$720.0K
YoY Change -22.58%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $460.0K
YoY Change -1020.0%
Cash From Investing Activities $460.0K
YoY Change -1020.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 770.0K
YoY Change -48.67%
NET CHANGE
Cash From Operating Activities -720.0K
Cash From Investing Activities 460.0K
Cash From Financing Activities 770.0K
Net Change In Cash 510.0K
YoY Change -1.92%
FREE CASH FLOW
Cash From Operating Activities -$720.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
233200
CY2015Q3 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
12257
CY2015Q2 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
24518
CY2015Q2 pzg Reclamation Bond Noncurrent
ReclamationBondNoncurrent
2499396
CY2015Q2 us-gaap Assets Noncurrent
AssetsNoncurrent
30568045
CY2015Q2 us-gaap Assets
Assets
40150026
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-813683
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
746
CY2014Q3 pzg Interest And Service Charges
InterestAndServiceCharges
753240
CY2015Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-55193
CY2014Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
337400
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
844169
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
31975
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-801993
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-13879
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-123665
CY2015Q2 us-gaap Mine Reclamation And Closing Liability Noncurrent
MineReclamationAndClosingLiabilityNoncurrent
1294497
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7996
CY2015Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
233200
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
15558333
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
375788
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
38622329
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
40150026
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8518791
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8518791
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
33361
CY2014Q3 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
10722
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10499
CY2014Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
36259
CY2015Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
64572546
CY2015Q2 us-gaap Liabilities
Liabilities
1527697
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
85188
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25980212
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
663330
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
597821
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M15D
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
CY2014Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1291066
CY2015 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
134768
CY2015 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
131337
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
17654
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
17832378
CY2014Q3 pzg Proceed From Payment To Marketable Securities
ProceedFromPaymentToMarketableSecurities
462075
CY2015Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
6477
CY2014Q3 pzg Proceeds From Short Term Related Party Debt
ProceedsFromShortTermRelatedPartyDebt
765129
CY2014Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
765129
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
248450
CY2014 pzg Adjustments To Additional Paid In Capital Impact Of Imputed Interest On Related Party Debt
AdjustmentsToAdditionalPaidInCapitalImpactOfImputedInterestOnRelatedPartyDebt
2452100
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
60149
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5034744
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
29701475
CY2015 us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
29701475
CY2015 pzg Adjustments To Additional Paid In Capital Contributed Capital
AdjustmentsToAdditionalPaidInCapitalContributedCapital
8445860
CY2015 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments
15866870
CY2015 pzg Stock Issued During Period Value Private Placement
StockIssuedDuringPeriodValuePrivatePlacement
1470000
CY2015 pzg Adjustments To Additional Paid In Capital Impact Of Imputed Interest On Related Party Debt
AdjustmentsToAdditionalPaidInCapitalImpactOfImputedInterestOnRelatedPartyDebt
2252027
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-8711
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
106631
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5231207
CY2015Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
139547
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-801993
CY2014Q3 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
753002
CY2015Q3 us-gaap Reclamation And Mine Shutdown Provision
ReclamationAndMineShutdownProvision
-7515
CY2014Q3 us-gaap Reclamation And Mine Shutdown Provision
ReclamationAndMineShutdownProvision
-746
CY2014Q3 pzg Amortization Of Prepaid Insurance Expenses
AmortizationOfPrepaidInsuranceExpenses
12261
CY2015Q3 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of these consolidated financial statements in conformity with U.S. 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 condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates made by management in the accompanying condensed consolidated interim financial statements include the adequacy of the Company&#8217;s asset retirement obligations, valuation of deferred tax asset, and valuation of mineral properties.</p></div>
CY2015Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and amounts receivable.&nbsp;&nbsp;The Company maintains cash in accounts which may, at times, exceed federally insured limits.&nbsp;&nbsp;At September 30, 2015, the balances of approximately $8 million were in excess of federally insured limits.&nbsp;&nbsp;We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss.</p></div>
CY2015Q3 pzg Concentration Of Credit Risk Uninsured Cash Amount
ConcentrationOfCreditRiskUninsuredCashAmount
8000000
CY2015Q3 us-gaap Cash Uninsured Amount Commentary
CashUninsuredAmountCommentary
We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss
CY2015Q3 pzg Available For Sale Equity Securities Amortized Cost Basis Before Adjustment
AvailableForSaleEquitySecuritiesAmortizedCostBasisBeforeAdjustment
69850
CY2015Q2 pzg Available For Sale Equity Securities Amortized Cost Basis Before Adjustment
AvailableForSaleEquitySecuritiesAmortizedCostBasisBeforeAdjustment
69850
CY2015Q3 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
69850
CY2015Q2 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
69850
CY2015Q3 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedLossBeforeTax
69072
CY2015Q2 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedLossBeforeTax
55193
CY2015Q3 us-gaap Unrealized Loss On Securities
UnrealizedLossOnSecurities
13879
CY2014Q3 us-gaap Unrealized Gain On Securities
UnrealizedGainOnSecurities
123665
CY2015Q3 us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
CY2014Q3 us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
CY2014Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000
CY2015Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2014Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2014Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1000
CY2014Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1000
CY2015Q1 pzg Cancellation Of Treasury Stock
CancellationOfTreasuryStock
1000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
663330
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9329
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1333
CY2015Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
6477
CY2014Q3 us-gaap Insurance Recoveries
InsuranceRecoveries
25386
CY2014Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5100
CY2015Q3 us-gaap Loss Contingency Name Of Defendant
LossContingencyNameOfDefendant
The Company, PGSC, members of PGSC’s board, Coeur, and Hollywood Merger Sub, Inc.
CY2015Q3 us-gaap Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
6
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
22366
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
19444
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
18400
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
6804

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