$PZG
Paramount Gold Nevada Corp

2016 Q2 Form 10-Q Financial Statement

#000156459016018972 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q4
Revenue $35.80K $0.00 $125.7K
YoY Change -7.98% 87.51%
Cost Of Revenue $100.0K $100.0K $100.0K
YoY Change
Gross Profit -$70.00K -$100.0K $20.00K
YoY Change
Gross Profit Margin -195.55% 15.91%
Selling, General & Admin -$60.00K $730.0K $500.0K
YoY Change -106.52% 305.56% 1150.0%
% of Gross Profit 2500.0%
Research & Development $150.0K $100.0K $170.0K
YoY Change -59.46% -225.0% -65.31%
% of Gross Profit 850.0%
Depreciation & Amortization $0.00 $568.00 $858.00
YoY Change
% of Gross Profit 4.29%
Operating Expenses $170.0K $1.034M $862.0K
YoY Change -88.36% 108.78% 90.56%
Operating Profit -$2.716M -$1.034M -$736.3K
YoY Change 105.57% 108.78% 91.21%
Interest Expense $10.00K $0.00 $0.00
YoY Change -107.69% -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.700M -$1.100M -$735.0K
YoY Change 84.93% -9.09% -28.64%
Income Tax
% Of Pretax Income
Net Earnings -$2.705M -$1.101M -$735.0K
YoY Change 85.84% -9.36% -32.84%
Net Earnings / Revenue -7555.62% -584.6%
Basic Earnings Per Share -$0.32 -$0.13 -$0.09
Diluted Earnings Per Share -$0.32 -$0.13 -$0.09
COMMON SHARES
Basic Shares Outstanding 8.519M 8.519M 8.519M
Diluted Shares Outstanding 8.519M 8.519M

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.870M $7.070M $7.910M
YoY Change -36.88% 685.56% 741.49%
Cash & Equivalents $5.874M $7.071M $7.907M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $562.0K $260.0K $380.0K
YoY Change 124.8% 13.04% 18.75%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $0.00
Other Receivables $810.0K $300.0K $0.00
Total Short-Term Assets $7.444M $7.628M $8.290M
YoY Change -22.31% 577.79% 563.2%
LONG-TERM ASSETS
Property, Plant & Equipment $14.90K $13.39K $28.05M
YoY Change 86.29% -99.95% 0.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.350M $2.390M $2.380M
YoY Change -6.75% -7.0% -7.75%
Total Long-Term Assets $28.04M $30.44M $30.43M
YoY Change -8.27% -0.57% -0.62%
TOTAL ASSETS
Total Short-Term Assets $7.444M $7.628M $8.290M
Total Long-Term Assets $28.04M $30.44M $30.43M
Total Assets $35.48M $38.06M $38.72M
YoY Change -11.62% 19.94% 21.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $180.0K $330.0K $130.0K
YoY Change -21.74% 3200.0%
Accrued Expenses
YoY Change
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 $559.9K $326.2K $130.0K
YoY Change 140.09% -98.04% -99.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.020M $1.280M $1.240M
YoY Change -20.93% -1.54% -2.36%
Total Long-Term Liabilities $1.020M $1.280M $1.240M
YoY Change -20.93% -1.54% -2.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $559.9K $326.2K $130.0K
Total Long-Term Liabilities $1.020M $1.280M $1.240M
Total Liabilities $1.578M $1.606M $1.370M
YoY Change 3.28% -91.04% -92.21%
SHAREHOLDERS EQUITY
Retained Earnings -$31.32M -$28.62M
YoY Change 20.56% 16.69%
Common Stock $65.23M $65.07M
YoY Change 0.88% 69.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.91M $36.46M $37.35M
YoY Change
Total Liabilities & Shareholders Equity $35.48M $38.06M $38.72M
YoY Change -11.62% 19.92% 21.49%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income -$2.705M -$1.101M -$735.0K
YoY Change 85.84% -9.36% -32.84%
Depreciation, Depletion And Amortization $0.00 $568.00 $858.00
YoY Change
Cash From Operating Activities -$700.0K -$530.0K -$370.0K
YoY Change -6.67% 51.43% 68.18%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$800.0K $0.00 $0.00
YoY Change
Cash From Investing Activities -$800.0K $0.00 $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 300.0K -300.0K 0.000
YoY Change -96.72% -203.45% -100.0%
NET CHANGE
Cash From Operating Activities -700.0K -530.0K -370.0K
Cash From Investing Activities -800.0K 0.000 0.000
Cash From Financing Activities 300.0K -300.0K 0.000
Net Change In Cash -1.200M -830.0K -370.0K
YoY Change -114.27% 1283.33% 1133.33%
FREE CASH FLOW
Cash From Operating Activities -$700.0K -$530.0K -$370.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$700.0K -$530.0K -$370.0K
YoY Change -6.67% 68.18%

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us-gaap Use Of Estimates
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<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 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>
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 March 31, 2016, the balances of approximately $7 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>
us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8518791
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8518791
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000
CY2014Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2015Q1 pzg Cancellation Of Treasury Stock
CancellationOfTreasuryStock
1000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
663330
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
663330
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 pzg Concentration Of Credit Risk Uninsured Cash Amount
ConcentrationOfCreditRiskUninsuredCashAmount
7000000
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
CY2016Q1 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
CY2016Q1 pzg Available For Sale Equity Securities Cumulative Other Than Temporary Impairment Losses
AvailableForSaleEquitySecuritiesCumulativeOtherThanTemporaryImpairmentLosses
69850
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
320241
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17694
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9329
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4305
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1333
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
8365
CY2015 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
134768
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
125222
CY2015 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
131337
CY2016Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1280270
us-gaap Insurance Recoveries
InsuranceRecoveries
125222
us-gaap Insurance Recoveries
InsuranceRecoveries
92435
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5202
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5100
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
500
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
7122
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
19444
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
18400
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
22073
CY2016Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0

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