$REI
Ring Energy Inc

2016 Q1 Form 10-Q Financial Statement

#000114420416099905 Filed on May 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $6.092M $6.046M
YoY Change 0.77% 1.26%
Cost Of Revenue $2.790M $2.140M
YoY Change 30.37% 103.81%
Gross Profit $3.300M $3.900M
YoY Change -15.38% -20.73%
Gross Profit Margin 54.17% 64.51%
Selling, General & Admin $2.220M $1.730M
YoY Change 28.32% 10.9%
% of Gross Profit 67.27% 44.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $78.88K $53.76K
YoY Change 46.74% 147.88%
% of Gross Profit 2.39% 1.38%
Operating Expenses $5.730M $5.460M
YoY Change 4.95% 75.0%
Operating Profit -$23.83M -$1.549M
YoY Change 1438.25% -185.87%
Interest Expense $415.5K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$412.6K $780.00
YoY Change -53000.13%
Pretax Income -$24.25M -$1.549M
YoY Change 1465.67% -183.84%
Income Tax -$8.971M -$573.0K
% Of Pretax Income
Net Earnings -$15.28M -$975.6K
YoY Change 1465.67% -183.84%
Net Earnings / Revenue -250.72% -16.14%
Basic Earnings Per Share -$0.50 -$0.04
Diluted Earnings Per Share -$0.50 -$0.04
COMMON SHARES
Basic Shares Outstanding 30.39M shares 25.75M shares
Diluted Shares Outstanding 30.39M shares 25.75M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.800M $2.900M
YoY Change 31.03% -92.31%
Cash & Equivalents $3.811M $2.850M
Short-Term Investments
Other Short-Term Assets $200.0K $100.0K
YoY Change 100.0%
Inventory
Prepaid Expenses
Receivables $2.400M $2.900M
Other Receivables $800.0K $3.000M
Total Short-Term Assets $7.200M $8.900M
YoY Change -19.1% -78.13%
LONG-TERM ASSETS
Property, Plant & Equipment $220.4M $158.7M
YoY Change 38.88% 107.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.600M
YoY Change
Total Long-Term Assets $230.1M $158.7M
YoY Change 44.99% 107.45%
TOTAL ASSETS
Total Short-Term Assets $7.200M $8.900M
Total Long-Term Assets $230.1M $158.7M
Total Assets $237.3M $167.6M
YoY Change 41.59% 43.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.200M $6.900M
YoY Change 4.35% -5.48%
Accrued Expenses $0.00 $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.200M $6.900M
YoY Change 4.35% -28.87%
LONG-TERM LIABILITIES
Long-Term Debt $50.90M $10.00M
YoY Change 409.0%
Other Long-Term Liabilities $7.500M $4.000M
YoY Change 87.5% 122.22%
Total Long-Term Liabilities $58.40M $14.00M
YoY Change 317.14% 677.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.200M $6.900M
Total Long-Term Liabilities $58.40M $14.00M
Total Liabilities $65.70M $25.30M
YoY Change 159.67% 96.12%
SHAREHOLDERS EQUITY
Retained Earnings -$22.34M
YoY Change
Common Stock $30.40K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $171.6M $142.3M
YoY Change
Total Liabilities & Shareholders Equity $237.3M $167.6M
YoY Change 41.56% 43.0%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$15.28M -$975.6K
YoY Change 1465.67% -183.84%
Depreciation, Depletion And Amortization $78.88K $53.76K
YoY Change 46.74% 147.88%
Cash From Operating Activities -$1.740M -$6.050M
YoY Change -71.24% -180.35%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M -$9.790M
YoY Change -60.16% -55.7%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.900M -$9.790M
YoY Change -60.16% -55.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.020M 10.06M
YoY Change -50.1% -25250.0%
NET CHANGE
Cash From Operating Activities -1.740M -6.050M
Cash From Investing Activities -3.900M -9.790M
Cash From Financing Activities 5.020M 10.06M
Net Change In Cash -620.0K -5.780M
YoY Change -89.27% -60.44%
FREE CASH FLOW
Cash From Operating Activities -$1.740M -$6.050M
Capital Expenditures -$3.900M -$9.790M
Free Cash Flow $2.160M $3.740M
YoY Change -42.25% -87.38%

Facts In Submission

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><i>Use of Estimates</i></b> &#150; The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Changes in the future estimated oil and natural gas reserves or the estimated future cash flows attributable to the reserves that are utilized for impairment analysis could have a significant impact on the Company&#8217;s future results of operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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P2Y4M24D
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1100 USD
CY2016Q1 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
584325 USD
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000 shares
CY2016Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
39247 USD

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