2019 Q2 Form 10-K Financial Statement
#000156459019034803 Filed on September 16, 2019
Income Statement
Concept | 2019 Q2 | 2019 Q1 | 2019 |
---|---|---|---|
Revenue | $3.852K | $212.7K | $400.4K |
YoY Change | -98.37% | 855.73% | 16.18% |
Cost Of Revenue | $170.6K | $130.6K | $610.0K |
YoY Change | 42.13% | 8.79% | 17.41% |
Gross Profit | -$166.7K | $82.20K | -$209.6K |
YoY Change | -238.92% | -182.2% | 19.82% |
Gross Profit Margin | -4327.62% | 38.64% | -52.36% |
Selling, General & Admin | $488.2K | $471.2K | $1.848M |
YoY Change | 43.59% | 4.71% | 30.58% |
% of Gross Profit | 573.21% | ||
Research & Development | $1.539M | $712.6K | $3.559M |
YoY Change | 26.13% | -32.13% | -15.72% |
% of Gross Profit | 866.93% | ||
Depreciation & Amortization | $650.00 | $650.00 | $2.620K |
YoY Change | -29.76% | ||
% of Gross Profit | 0.79% | ||
Operating Expenses | $2.103M | $1.392M | $5.705M |
YoY Change | 29.02% | -11.37% | -3.46% |
Operating Profit | -$2.303M | -$1.179M | -$5.915M |
YoY Change | 52.14% | -29.22% | -2.79% |
Interest Expense | -$4.900K | $5.400K | $17.70K |
YoY Change | -149.0% | -46.0% | 6.82% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$2.307M | -$1.173M | -$5.970M |
YoY Change | 52.81% | -29.31% | -1.62% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$2.307M | -$1.173M | -$5.970M |
YoY Change | 53.03% | -29.26% | -1.62% |
Net Earnings / Revenue | -59901.84% | -551.56% | -1491.07% |
Basic Earnings Per Share | -$0.09 | -$0.04 | -$0.23 |
Diluted Earnings Per Share | -$0.09 | -$0.04 | -$0.23 |
COMMON SHARES | |||
Basic Shares Outstanding | 25.86M | ||
Diluted Shares Outstanding | 25.86M |
Balance Sheet
Concept | 2019 Q2 | 2019 Q1 | 2019 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $463.7K | $362.0K | $463.7K |
YoY Change | 54.56% | -74.33% | 55.92% |
Cash & Equivalents | $463.7K | $362.0K | $463.7K |
Short-Term Investments | |||
Other Short-Term Assets | $348.8K | $412.3K | $348.8K |
YoY Change | 2040.74% | 37.44% | 33.93% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $0.00 | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $812.5K | $774.3K | $812.5K |
YoY Change | 45.65% | -55.24% | 45.65% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $6.303K | $48.87M | $47.06M |
YoY Change | -29.39% | -0.01% | -3.7% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.402M | $1.408M | $1.402M |
YoY Change | -20.8% | -29.61% | -20.78% |
Total Long-Term Assets | $48.46M | $50.28M | $48.46M |
YoY Change | -4.3% | -1.17% | -4.3% |
TOTAL ASSETS | |||
Total Short-Term Assets | $812.5K | $774.3K | $812.5K |
Total Long-Term Assets | $48.46M | $50.28M | $48.46M |
Total Assets | $49.28M | $51.05M | $49.28M |
YoY Change | -3.75% | -2.95% | -3.75% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $980.3K | $656.1K | $980.3K |
YoY Change | 5.41% | -0.59% | 5.64% |
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 | $1.078M | $757.7K | $1.078M |
YoY Change | 4.67% | -5.29% | 4.67% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $868.4K | $704.1K | $868.4K |
YoY Change | -10.48% | -38.24% | -10.56% |
Total Long-Term Liabilities | $868.4K | $704.1K | $868.4K |
YoY Change | -10.48% | -38.24% | -10.56% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.078M | $757.7K | $1.078M |
Total Long-Term Liabilities | $868.4K | $704.1K | $868.4K |
Total Liabilities | $1.946M | $1.462M | $1.946M |
YoY Change | -2.73% | -24.26% | -2.73% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$47.70M | ||
YoY Change | 14.31% | ||
Common Stock | $95.03M | ||
YoY Change | 4.51% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $47.33M | $49.59M | $47.33M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $49.28M | $51.05M | $49.28M |
YoY Change | -3.75% | -2.95% | -3.75% |
Cashflow Statement
Concept | 2019 Q2 | 2019 Q1 | 2019 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.307M | -$1.173M | -$5.970M |
YoY Change | 53.03% | -29.26% | -1.62% |
Depreciation, Depletion And Amortization | $650.00 | $650.00 | $2.620K |
YoY Change | -29.76% | ||
Cash From Operating Activities | -$1.826M | -$899.1K | -$5.634M |
YoY Change | 98.47% | -36.24% | -3.55% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $1.928M | $1.928M | |
YoY Change | |||
Cash From Investing Activities | $1.928M | $0.00 | $1.928M |
YoY Change | -100.0% | -180.32% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $2.911M | ||
YoY Change | -56.07% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 960.9K | 3.872M |
YoY Change | -100.0% | -41.57% | |
NET CHANGE | |||
Cash From Operating Activities | -1.826M | -899.1K | -5.634M |
Cash From Investing Activities | 1.928M | 0.000 | 1.928M |
Cash From Financing Activities | 0.000 | 960.9K | 3.872M |
Net Change In Cash | 101.7K | 61.79K | 166.3K |
YoY Change | -109.16% | -101.62% | -110.31% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.826M | -$899.1K | -$5.634M |
Capital Expenditures | $0.00 | $0.00 | $0.00 |
Free Cash Flow | -$1.826M | -$899.1K | -$5.634M |
YoY Change | 98.47% | -190.82% | 63.73% |
Facts In Submission
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Cash And Cash Equivalents At Carrying Value
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Entity Well Known Seasoned Issuer
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Entity Current Reporting Status
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Entity Interactive Data Current
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Entity Voluntary Filers
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665 Anderson Street | |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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Insurance Recoveries
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Operating Leases Income Statement Lease Revenue
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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 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 consolidated 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 consolidated financial statements include the adequacy of the Company’s reclamation and environmental obligation, share based compensation, warrant valuation, valuation of deferred tax asset, and assessment of impairment of mineral properties.</p> | |
CY2019 | 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. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At June 30, 2019, there were no balances that were in excess of federally insured limits. The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss.</p> | |
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Cash Uninsured Amount Description
CashUninsuredAmountDescription
|
The Company deposits its cash with financial institutions which it believes have sufficient credit quality to minimize the risk of loss | |
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1.47 | |
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Asset Retirement Obligation
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Nonmonetary Transaction Amount Of Barter Transaction
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0 | |
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Sale Of Stock Number Of Shares Issued In Transaction
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Sale Of Stock Price Per Share
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|
1.25 | |
CY2019 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
3000000 | |
CY2019 | 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. | |
CY2019 | us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
394785 | |
CY2018 | us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
339219 | |
CY2019Q2 | pzg |
Concentration Of Credit Risk Uninsured Cash Amount
ConcentrationOfCreditRiskUninsuredCashAmount
|
0 | |
CY2019 | 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. Also during the year ended June 30, 2019, the Company issued 1,045,000 shares from the exercising of warrants for gross proceeds of $0.96 million. | |
CY2019 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
90000 | |
CY2019 | pzg |
Net Proceeds From Issuance Or Sale Of Equity
NetProceedsFromIssuanceOrSaleOfEquity
|
2910000 | |
CY2018 | 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
|
557329 | |
CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
0.93 | |
CY2019 | us-gaap |
Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
|
122406 | |
CY2018 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
339219 | |
CY2018 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
5413 | |
CY2019 | pzg |
Reimbursement Of Workers Compensation Insurance
ReimbursementOfWorkersCompensationInsurance
|
83 | |
CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2100 | |
CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.2100 | |
CY2019 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1253710 | |
CY2018 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1274312 | |
CY2019 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
2190 | |
CY2018 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
98 | |
CY2019 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
7671 | |
CY2018 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
-1609037 | |
CY2018 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
4596096 | |
CY2019 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
1243849 | |
CY2018 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1712825 | |
CY2019 | us-gaap |
Income Tax Examination Year Under Examination
IncomeTaxExaminationYearUnderExamination
|
2011 2012 2013 2014 2015 2016 2017 2018 2019 | |
CY2019Q1 | us-gaap |
Revenues
Revenues
|
212746 | |
CY2019Q2 | us-gaap |
Revenues
Revenues
|
3852 | |
CY2019Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1178809 | |
CY2019Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2302518 | |
CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.04 | |
CY2019Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.09 | |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1173413 | |
CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2307419 | |
CY2019 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
56095 | |
CY2019Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.04 | |
CY2019Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.09 | |
CY2018Q1 | us-gaap |
Revenues
Revenues
|
22260 | |
CY2018Q2 | us-gaap |
Revenues
Revenues
|
236824 | |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1665511 | |
CY2018Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1513405 | |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1658748 | |
CY2018Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1507797 | |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
CY2018Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
CY2018Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
CY2018Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
CY2019Q2 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
10364 | |
CY2019Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
10575 |