2013 Q3 Form 10-Q Financial Statement

#000110465913058000 Filed on July 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.220M $2.600M $3.630M
YoY Change -68.01% -28.37% 81.5%
% of Gross Profit
Research & Development $1.620M $2.450M $11.83M
YoY Change -87.96% -79.29%
% of Gross Profit
Depreciation & Amortization $5.445K $0.00 $7.908K
YoY Change -31.17% -100.0% -60.46%
% of Gross Profit
Operating Expenses $3.860M $5.080M $15.49M
YoY Change -81.09% -67.2% 775.14%
Operating Profit -$3.860M -$5.079M -$15.49M
YoY Change -81.09% -67.21%
Interest Expense -$260.0K $4.440M $2.580M
YoY Change -94.37% 72.09% 1128.57%
% of Operating Profit
Other Income/Expense, Net -$264.7K $4.437M $2.577M
YoY Change -94.27% 72.15%
Pretax Income -$4.120M -$640.0K -$12.91M
YoY Change -83.54% -95.04% 677.71%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.125M -$642.1K -$12.91M
YoY Change -83.52% -95.03% 677.67%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$42.01K -$6.526K -$148.9K
COMMON SHARES
Basic Shares Outstanding 98.07M shares 98.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.70M $19.90M $29.50M
YoY Change -61.43% -32.54% -74.46%
Cash & Equivalents $16.61M $19.87M $29.32M
Short-Term Investments $100.0K $100.0K $200.0K
Other Short-Term Assets $200.0K $300.0K $300.0K
YoY Change 0.0% 0.0% -25.0%
Inventory
Prepaid Expenses $194.0K
Receivables $5.141K $0.00 $100.0K
Other Receivables $500.0K $500.0K $800.0K
Total Short-Term Assets $17.37M $20.75M $30.80M
YoY Change -60.79% -32.63% -73.47%
LONG-TERM ASSETS
Property, Plant & Equipment $73.35K $79.39K $100.0K
YoY Change -26.65% -20.61% -99.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $55.20M $55.20M $55.10M
YoY Change 0.0% 0.18%
Total Long-Term Assets $55.25M $55.25M $55.10M
YoY Change -0.1% 0.28% -25.14%
TOTAL ASSETS
Total Short-Term Assets $17.37M $20.75M $30.80M
Total Long-Term Assets $55.25M $55.25M $55.10M
Total Assets $72.61M $76.00M $85.90M
YoY Change -27.09% -11.52% -54.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $503.4K $700.0K $7.900M
YoY Change -93.93% -91.14% 88.1%
Accrued Expenses $636.8K $1.000M
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 $1.140M $1.736M $7.900M
YoY Change -86.26% -78.03% 88.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.70M $16.70M $21.10M
YoY Change -33.47% -20.85%
Total Long-Term Liabilities $16.70M $16.70M $21.10M
YoY Change -33.47% -20.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.140M $1.736M $7.900M
Total Long-Term Liabilities $16.70M $16.70M $21.10M
Total Liabilities $17.84M $18.44M $29.00M
YoY Change -46.59% -36.43% 590.48%
SHAREHOLDERS EQUITY
Retained Earnings -$217.4M
YoY Change
Common Stock $268.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.77M $57.57M $56.87M
YoY Change
Total Liabilities & Shareholders Equity $72.61M $76.00M $85.90M
YoY Change -27.09% -11.52% -54.72%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$4.125M -$642.1K -$12.91M
YoY Change -83.52% -95.03% 677.67%
Depreciation, Depletion And Amortization $5.445K $0.00 $7.908K
YoY Change -31.17% -100.0% -60.46%
Cash From Operating Activities -$3.640M -$4.110M -$9.770M
YoY Change -77.86% -57.93% -73.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -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 0.000 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -3.640M -4.110M -9.770M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -3.640M -4.110M -9.770M
YoY Change -128.8% -57.93% 47.81%
FREE CASH FLOW
Cash From Operating Activities -$3.640M -$4.110M -$9.770M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$3.640M -$4.110M -$9.770M
YoY Change -77.68% -57.93% -84.09%

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249246 USD
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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CY2013Q2 us-gaap Other Comprehensive Income Loss Before Tax
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us-gaap Other Comprehensive Income Loss Before Tax
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us-gaap Share Based Compensation
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dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Fiscal Period Focus
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Q2
thm Increase Decrease In Advance To Contractors
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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thm Payment To Acquire Mineral Properties
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Proceeds From Sale Of Available For Sale Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Discontinued Operations
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thm Stock Issued During Period Value Private Placement
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dei Entity Registrant Name
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INTERNATIONAL TOWER HILL MINES LTD
dei Document Period End Date
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2013-06-30
dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Current Reporting Status
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dei Entity Filer Category
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">1.</font></b><b><font style="FONT-SIZE: 3pt; FONT-WEIGHT: bold;" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">GENERAL INFORMATION, NATURE AND CONTINUANCE OF OPERATIONS</font></b></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in;">&#160;</p> <p style="MARGIN: 0in 0in 0pt 0.5in;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">International Tower Hill Mines Ltd. (&#8220;ITH&#8221; or the &#8220;Company&#8221;) is incorporated under the laws of British Columbia, Canada.&#160; The Company&#8217;s head office address is 2300-1177 West Hastings Street, Vancouver, British Columbia, Canada.&#160; In these financial statements references to ITH include its wholly owned subsidiaries Tower Hill Mines,&#160;Inc. (formerly Talon Gold Alaska,&#160;Inc.) (&#8220;TH Alaska&#8221;) (an Alaska corporation), Tower Hill Mines (US) LLC (formerly Talon Gold (US) LLC) (&#8220;TH US&#8221;) (a Colorado limited liability company), Livengood Placers,&#160;Inc. (&#8220;LPI&#8221;) (a Nevada corporation), and 813034 Alberta Ltd. (an Alberta corporation).&#160; The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed.&#160; At June&#160;30, 2013, the Company was in the exploration stage and controls a 100% interest in its Livengood Gold Project in Alaska, U.S.A (the &#8220;Livengood Gold Project&#8221;).</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in;">&#160;</p> <p style="MARGIN: 0in 0in 0pt 0.5in;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The business of mining and exploration involves a high degree of risk and there can be no assurance that current exploration programs will result in profitable mining operations.&#160; The Company has no source of revenue, and has significant cash requirements to meet its administrative overhead and maintain its mineral property interests.&#160; The recoverability of amounts shown for capitalized acquisition costs is dependent on several factors.&#160; These include the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the development of these properties, and future profitable production or proceeds from disposition of capitalized acquisition costs.&#160; The success of the above initiatives cannot be assured.&#160; In the event that the Company is unable to obtain the necessary financing in the short-term, it may be necessary to defer certain discretionary expenditures and other planned activities.</font></p> </div>
CY2013Q2 thm Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
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168636 USD

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