$PZG
Paramount Gold Nevada Corp.

2018 Q4 Form 10-Q Financial Statement

#000156459020003461 Filed on February 05, 2020

View on sec.gov

Income Statement

Concept 2018 Q4
Revenue $183.8K
YoY Change
Cost Of Revenue $308.9K
YoY Change 157.43%
Gross Profit -$125.1K
YoY Change 4.27%
Gross Profit Margin -68.08%
Selling, General & Admin $888.1K
YoY Change 169.13%
% of Gross Profit
Research & Development $1.307M
YoY Change -0.21%
% of Gross Profit
Depreciation & Amortization $660.00
YoY Change
% of Gross Profit
Operating Expenses $2.344M
YoY Change 37.87%
Operating Profit -$2.469M
YoY Change 35.57%
Interest Expense $17.20K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.489M
YoY Change 36.85%
Income Tax
% Of Pretax Income
Net Earnings -$2.489M
YoY Change 36.85%
Net Earnings / Revenue -1354.38%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.06
COMMON SHARES
Basic Shares Outstanding 25.47M
Diluted Shares Outstanding 25.47M

Balance Sheet

Concept 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.2K
YoY Change -94.26%
Cash & Equivalents $300.2K
Short-Term Investments
Other Short-Term Assets $532.2K
YoY Change 36.46%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $832.4K
YoY Change -85.22%
LONG-TERM ASSETS
Property, Plant & Equipment $48.87M
YoY Change 453094.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.612M
YoY Change -19.78%
Total Long-Term Assets $50.48M
YoY Change 4.12%
TOTAL ASSETS
Total Short-Term Assets $832.4K
Total Long-Term Assets $50.48M
Total Assets $51.31M
YoY Change -5.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $595.7K
YoY Change 6.38%
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 $697.3K
YoY Change -0.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $875.4K
YoY Change -21.84%
Total Long-Term Liabilities $875.4K
YoY Change -21.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $697.3K
Total Long-Term Liabilities $875.4K
Total Liabilities $1.573M
YoY Change -13.49%
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 $49.74M
YoY Change
Total Liabilities & Shareholders Equity $51.31M
YoY Change -5.18%

Cashflow Statement

Concept 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.489M
YoY Change 36.85%
Depreciation, Depletion And Amortization $660.00
YoY Change
Cash From Operating Activities -$1.268M
YoY Change -24.94%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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 1.290K
YoY Change -99.98%
NET CHANGE
Cash From Operating Activities -1.268M
Cash From Investing Activities 0.000
Cash From Financing Activities 1.290K
Net Change In Cash -1.267M
YoY Change -124.7%
FREE CASH FLOW
Cash From Operating Activities -$1.268M
Capital Expenditures $0.00
Free Cash Flow -$1.268M
YoY Change -24.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q4 us-gaap Revenues
Revenues
306059
CY2018Q4 us-gaap General Insurance Expense
GeneralInsuranceExpense
32573
CY2018Q4 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
25007
CY2019Q4 us-gaap Professional Fees
ProfessionalFees
65695
CY2019Q4 us-gaap Labor And Related Expense
LaborAndRelatedExpense
303922
CY2018Q4 us-gaap Labor And Related Expense
LaborAndRelatedExpense
237190
CY2019Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
150743
CY2018Q4 us-gaap Professional Fees
ProfessionalFees
31192
CY2019Q4 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
12358
CY2018Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
168829
CY2019Q4 us-gaap General Insurance Expense
GeneralInsuranceExpense
33236
CY2018Q4 us-gaap Exploration Expense
ExplorationExpense
838354
CY2019Q4 pzg Land Holding Costs
LandHoldingCosts
132137
CY2018Q4 pzg Land Holding Costs
LandHoldingCosts
147143
CY2019Q4 us-gaap Depreciation
Depreciation
981
CY2018Q4 us-gaap Depreciation
Depreciation
660
us-gaap Profit Loss
ProfitLoss
-3349016
us-gaap Profit Loss
ProfitLoss
-2489216
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
976144
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59506
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
121907
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
20029
us-gaap Interest Expense
InterestExpense
15758
pzg Interest Earned On Reclamation Bond
InterestEarnedOnReclamationBond
12728
pzg Interest Earned On Reclamation Bond
InterestEarnedOnReclamationBond
21246
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16292
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
835375
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
288081
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-577808
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-332221
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3654751
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2908494
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3443
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3443
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2911286
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5201807
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5201807
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2911286
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1543613
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2792
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
463690
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
297389
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2007303
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
300181
CY2018Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.25
CY2019Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.89
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 reclamation and environmental obligation, share based compensation, warrant valuation, valuation of deferred tax assets and liabilities, and assessment of impairment 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.&nbsp;&nbsp;The Company maintains cash and cash equivalents in accounts which may, at times, exceed federally insured limits.&nbsp;&nbsp;At December 31, 2019, the Company had $1.71 million of 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 Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M25D
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
1072551
CY2019 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
165505
CY2019 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
122406
CY2019Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
583897
CY2019Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
868390
us-gaap Insurance Recoveries
InsuranceRecoveries
178270
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
5182
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
10575
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
24452
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 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
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
340660
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
595000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
20000
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
915660
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.79
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0.74
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.52
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
254513
CY2019Q4 pzg Concentration Of Credit Risk Uninsured Cash Amount
ConcentrationOfCreditRiskUninsuredCashAmount
1710000
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
us-gaap Nonmonetary Transaction Amount Of Barter Transaction
NonmonetaryTransactionAmountOfBarterTransaction
0
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1096791
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2400000
pzg Net Proceeds From Issuance Or Sale Of Equity
NetProceedsFromIssuanceOrSaleOfEquity
2911286
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
5520

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