$PZG
Paramount Gold Nevada Corp.

2018 Q4 Form 10-Q Financial Statement

#000156459019002289 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4 2017 Q2
Revenue $183.8K $0.00 -$2.928K
YoY Change -100.0% -108.18%
Cost Of Revenue $308.9K $120.0K $140.0K
YoY Change 157.43% 0.0% 40.0%
Gross Profit -$125.1K -$120.0K -$140.0K
YoY Change 4.27% 50.0% 100.0%
Gross Profit Margin -68.08%
Selling, General & Admin $888.1K $330.0K $460.0K
YoY Change 169.13% -15.38% -866.67%
% of Gross Profit
Research & Development $1.307M $1.310M $2.380M
YoY Change -0.21% -0.76% 1486.67%
% of Gross Profit
Depreciation & Amortization $660.00 $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $2.344M $1.700M $2.910M
YoY Change 37.87% -5.03% 1611.76%
Operating Profit -$2.469M -$1.821M -$3.052M
YoY Change 35.57% -2.47% 12.37%
Interest Expense $17.20K $0.00 $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$2.489M -$1.819M -$3.040M
YoY Change 36.85% -0.33% 12.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.489M -$1.819M -$3.044M
YoY Change 36.85% -0.33% 12.54%
Net Earnings / Revenue -1354.38%
Basic Earnings Per Share -$0.06 -$0.08 -$0.19
Diluted Earnings Per Share -$0.06 -$0.08 -$0.19
COMMON SHARES
Basic Shares Outstanding 25.47M 22.38M
Diluted Shares Outstanding 25.47M 22.38M

Balance Sheet

Concept 2018 Q4 2017 Q4 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.2K $5.230M $1.910M
YoY Change -94.26% 188.95% -67.46%
Cash & Equivalents $300.2K $5.227M $1.911M
Short-Term Investments
Other Short-Term Assets $532.2K $390.0K $210.0K
YoY Change 36.46% -7.14% -62.63%
Inventory
Prepaid Expenses
Receivables $0.00 $20.00K $15.80K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $832.4K $5.633M $2.141M
YoY Change -85.22% 150.34% -71.25%
LONG-TERM ASSETS
Property, Plant & Equipment $48.87M $10.78K $12.66K
YoY Change 453094.75% -27.33% -15.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.612M $2.010M $2.090M
YoY Change -19.78% -12.23% -11.06%
Total Long-Term Assets $50.48M $48.49M $48.56M
YoY Change 4.12% -0.58% 73.18%
TOTAL ASSETS
Total Short-Term Assets $832.4K $5.633M $2.141M
Total Long-Term Assets $50.48M $48.49M $48.56M
Total Assets $51.31M $54.12M $50.70M
YoY Change -5.18% 6.08% 42.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $595.7K $560.0K $870.0K
YoY Change 6.38% 124.0% 383.33%
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 $697.3K $697.6K $1.090M
YoY Change -0.04% 10.74% 94.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $875.4K $1.120M $1.040M
YoY Change -21.84% 9.8% 1.96%
Total Long-Term Liabilities $875.4K $1.120M $1.040M
YoY Change -21.84% 9.8% 1.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $697.3K $697.6K $1.090M
Total Long-Term Liabilities $875.4K $1.120M $1.040M
Total Liabilities $1.573M $1.818M $2.130M
YoY Change -13.49% 9.51% 34.99%
SHAREHOLDERS EQUITY
Retained Earnings -$38.56M
YoY Change
Common Stock $90.86M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.74M $52.30M $48.57M
YoY Change
Total Liabilities & Shareholders Equity $51.31M $54.12M $50.70M
YoY Change -5.18% 6.07% 42.88%

Cashflow Statement

Concept 2018 Q4 2017 Q4 2017 Q2
OPERATING ACTIVITIES
Net Income -$2.489M -$1.819M -$3.044M
YoY Change 36.85% -0.33% 12.54%
Depreciation, Depletion And Amortization $660.00 $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$1.268M -$1.690M -$2.560M
YoY Change -24.94% -11.05% 265.71%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.290K 6.820M 0.000
YoY Change -99.98% -100.0%
NET CHANGE
Cash From Operating Activities -1.268M -1.690M -2.560M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 1.290K 6.820M 0.000
Net Change In Cash -1.267M 5.130M -2.560M
YoY Change -124.7% -370.0% 113.33%
FREE CASH FLOW
Cash From Operating Activities -$1.268M -$1.690M -$2.560M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.268M -$1.690M -$2.560M
YoY Change -24.94% -11.05% 265.71%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2018Q4 us-gaap Exploration Expense
ExplorationExpense
838354
CY2017Q4 us-gaap Exploration Expense
ExplorationExpense
1307160
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25474954
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25474954
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
48566028
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
71335
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6068154
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1058893
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
51110293
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
61793
CY2018Q3 pzg Stock Issued During Period Value Private Placement
StockIssuedDuringPeriodValuePrivatePlacement
2911286
us-gaap Exploration Expense
ExplorationExpense
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us-gaap Exploration Expense
ExplorationExpense
1954072
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
176144
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2908494
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3509056
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16292
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
197988
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
288081
CY2018 pzg Stock Issued During Period Value Private Placement
StockIssuedDuringPeriodValuePrivatePlacement
6626898
pzg Interest Earned On Reclamation Bond
InterestEarnedOnReclamationBond
21246
pzg Interest Earned On Reclamation Bond
InterestEarnedOnReclamationBond
7581
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
60114
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1430323
us-gaap Profit Loss
ProfitLoss
-2489216
us-gaap Profit Loss
ProfitLoss
-2901609
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-332221
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-311458
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
121907
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8480
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2911286
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6824886
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2911286
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6824886
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2792
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3315830
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1911170
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5227000
us-gaap Use Of Estimates
UseOfEstimates
<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 interim condensed 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 assets and liabilities, and valuation of mineral properties.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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 and cash equivalents in accounts which may, at times, exceed federally insured limits.&nbsp;&nbsp;At December 31, 2018, the Company had $nil balances 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>
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0
us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.23
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
CY2018Q4 us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
CY2017Q4 us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
CY2018Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
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CY2018Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
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us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
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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.
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
pzg Class Of Warrant Or Right Description
ClassOfWarrantOrRightDescription
Each warrant will have a two-year term and will be exercisable at the following exercise prices: in the first year at $1.30 per share and in the second year at $1.50 per share.
CY2018Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23074954
CY2018Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23074954
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
557329
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
217624
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y5M1D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0
CY2018Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2017Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1261034
CY2018 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
150736
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
178270
CY2018 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
339219
us-gaap Insurance Recoveries
InsuranceRecoveries
178270
us-gaap Insurance Recoveries
InsuranceRecoveries
80145
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10575
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5520
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5403
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
5076
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
10364
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
26019

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