$PZG
Paramount Gold Nevada Corp.

2016 Q1 Form 10-Q Financial Statement

#000156459017009928 Filed on May 09, 2017

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q2
Revenue $0.00 $38.90K
YoY Change 14.97%
Cost Of Revenue $100.0K
YoY Change
Gross Profit -$100.0K
YoY Change
Gross Profit Margin
Selling, General & Admin $730.0K $920.0K
YoY Change 305.56% 736.36%
% of Gross Profit
Research & Development $100.0K $370.0K
YoY Change -225.0% -38.33%
% of Gross Profit
Depreciation & Amortization $568.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $1.034M $1.460M
YoY Change 108.78% 73.81%
Operating Profit -$1.034M -$1.321M
YoY Change 108.78% 100.22%
Interest Expense $0.00 -$130.0K
YoY Change -100.0% -76.79%
% of Operating Profit
Other Income/Expense, Net $100.0K
YoY Change 150.0%
Pretax Income -$1.100M -$1.460M
YoY Change -9.09% 10.61%
Income Tax
% Of Pretax Income
Net Earnings -$1.101M -$1.455M
YoY Change -9.36% 18.24%
Net Earnings / Revenue -3741.1%
Basic Earnings Per Share -$0.13 $0.18
Diluted Earnings Per Share -$0.13 $0.18
COMMON SHARES
Basic Shares Outstanding 8.519M
Diluted Shares Outstanding 8.519M

Balance Sheet

Concept 2016 Q1 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.070M $9.300M
YoY Change 685.56% 820.79%
Cash & Equivalents $7.071M $9.283M
Short-Term Investments $10.00K
Other Short-Term Assets $260.0K $250.0K
YoY Change 13.04% 8.7%
Inventory
Prepaid Expenses
Receivables $0.00 $37.07K
Other Receivables $300.0K $0.00
Total Short-Term Assets $7.628M $9.582M
YoY Change 577.79% 671.01%
LONG-TERM ASSETS
Property, Plant & Equipment $13.39K $7.996K
YoY Change -99.95% -99.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.390M $2.520M
YoY Change -7.0% -4.18%
Total Long-Term Assets $30.44M $30.57M
YoY Change -0.57% -1.39%
TOTAL ASSETS
Total Short-Term Assets $7.628M $9.582M
Total Long-Term Assets $30.44M $30.57M
Total Assets $38.06M $40.15M
YoY Change 19.94% 24.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $330.0K $230.0K
YoY Change 3200.0% 666.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $326.2K $233.2K
YoY Change -98.04% -98.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.280M $1.290M
YoY Change -1.54% 0.0%
Total Long-Term Liabilities $1.280M $1.290M
YoY Change -1.54% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $326.2K $233.2K
Total Long-Term Liabilities $1.280M $1.290M
Total Liabilities $1.606M $1.528M
YoY Change -91.04% -90.84%
SHAREHOLDERS EQUITY
Retained Earnings -$28.62M -$25.98M
YoY Change 16.69% 25.21%
Common Stock $65.07M $64.66M
YoY Change 69.56% 78.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.46M $38.62M
YoY Change
Total Liabilities & Shareholders Equity $38.06M $40.15M
YoY Change 19.92% 24.52%

Cashflow Statement

Concept 2016 Q1 2015 Q2
OPERATING ACTIVITIES
Net Income -$1.101M -$1.455M
YoY Change -9.36% 18.24%
Depreciation, Depletion And Amortization $568.00 $0.00
YoY Change
Cash From Operating Activities -$530.0K -$750.0K
YoY Change 51.43% 102.7%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $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 9.160M
YoY Change -203.45% 2594.12%
NET CHANGE
Cash From Operating Activities -530.0K -750.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -300.0K 9.160M
Net Change In Cash -830.0K 8.410M
YoY Change 1283.33% -28133.33%
FREE CASH FLOW
Cash From Operating Activities -$530.0K -$750.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$530.0K -$750.0K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q1 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
69850
us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
69850
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
38622329
CY2016 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
570837
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
55193
pzg Stock Issued During Period Value Private Placement
StockIssuedDuringPeriodValuePrivatePlacement
3553156
us-gaap Depreciation
Depreciation
3674
us-gaap Operating Income Loss
OperatingIncomeLoss
-4659832
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
119679
us-gaap Labor And Related Expense
LaborAndRelatedExpense
644964
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
338459
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1295860
us-gaap Operating Expenses
OperatingExpenses
4943431
pzg Interest And Service Charges
InterestAndServiceCharges
1860
us-gaap Investment Income Interest
InvestmentIncomeInterest
10781
CY2017Q1 pzg Gain Loss On Sale Of Mineral Property
GainLossOnSaleOfMineralProperty
100000
pzg Gain Loss On Sale Of Mineral Property
GainLossOnSaleOfMineralProperty
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
351236
pzg Amortization Of Prepaid Insurance Expenses
AmortizationOfPrepaidInsuranceExpenses
24517
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5342172
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-37071
pzg Payments Of Promissory Note Receivable
PaymentsOfPromissoryNoteReceivable
300000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3558497
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-300000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
175038
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1408918
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2211549
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9282534
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7070985
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
15202866
us-gaap Share Based Compensation
ShareBasedCompensation
175038
pzg Interest Earned On Reclamation Bond
InterestEarnedOnReclamationBond
10781
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
8365
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1005128
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8365
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3558497
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 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, 2017, the balances of approximately $4.2 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 Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
348335
CY2017Q1 pzg Concentration Of Credit Risk Uninsured Cash Amount
ConcentrationOfCreditRiskUninsuredCashAmount
4200000
pzg Cash Uninsured Amount Description
CashUninsuredAmountDescription
We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss
CY2017Q1 pzg Sale Of Equity Units Number Of Units Issued In Transaction
SaleOfEquityUnitsNumberOfUnitsIssuedInTransaction
2090000
CY2017Q1 pzg Sale Of Equity Unit Number Of Shares Issued Per Unit
SaleOfEquityUnitNumberOfSharesIssuedPerUnit
1.75
CY2017Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3657500
CY2017Q1 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P2Y
pzg Sale Of Equity Units Description Of Transaction
SaleOfEquityUnitsDescriptionOfTransaction
Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock.
pzg Class Of Warrant Or Right Description
ClassOfWarrantOrRightDescription
Each warrant will have a two-year term and is exercisable at the following exercise prices: in the first year at $2.00 per share or in the second year at $2.25 per share.
CY2017Q1 pzg Adjustments To Additional Paid In Capital Issuance Of Units
AdjustmentsToAdditionalPaidInCapitalIssuanceOfUnits
3532256
CY2017Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
473658
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
663330
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
364995
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.14
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.14
CY2017Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
60089
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P6M4D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
CY2016Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1402039
CY2015Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1294497
CY2016 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
147992
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
278293
CY2016 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
161018
CY2016 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
120568
CY2017Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1226712
us-gaap Insurance Recoveries
InsuranceRecoveries
278293
us-gaap Insurance Recoveries
InsuranceRecoveries
125222
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
500
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5306
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5202
CY2016Q1 us-gaap Mineral Properties Net
MineralPropertiesNet
25674658
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
4361
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
18400
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7951

Files In Submission

Name View Source Status
0001564590-17-009928-index-headers.html Edgar Link pending
0001564590-17-009928-index.html Edgar Link pending
0001564590-17-009928.txt Edgar Link pending
0001564590-17-009928-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
g20170509154614771165.jpg Edgar Link pending
pzg-10q_20170331.htm Edgar Link pending
pzg-20170331.xml Edgar Link completed
pzg-20170331.xsd Edgar Link pending
pzg-20170331_cal.xml Edgar Link unprocessable
pzg-20170331_def.xml Edgar Link unprocessable
pzg-20170331_lab.xml Edgar Link unprocessable
pzg-20170331_pre.xml Edgar Link unprocessable
pzg-ex311_9.htm Edgar Link pending
pzg-ex312_7.htm Edgar Link pending
pzg-ex321_8.htm Edgar Link pending
pzg-ex322_6.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending