2015 Q4 Form 10-Q Financial Statement

#000127956915002051 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $860.0K $1.020M $1.530M
YoY Change -43.79% -15.0% -27.83%
% of Gross Profit
Research & Development $420.0K $730.0K $670.0K
YoY Change -37.31% 30.36% -49.24%
% of Gross Profit
Depreciation & Amortization $0.00 $1.754K $10.00K
YoY Change -100.0% -55.59%
% of Gross Profit
Operating Expenses $1.290M $1.749M $2.210M
YoY Change -41.63% -1.24% -31.79%
Operating Profit
YoY Change
Interest Expense $390.0K $740.0K $560.0K
YoY Change -30.36% 23.33% -77.78%
% of Operating Profit
Other Income/Expense, Net $0.00 $741.7K $0.00
YoY Change 23.57%
Pretax Income -$1.120M -$1.010M -$1.650M
YoY Change -32.12% -13.68% 61.76%
Income Tax
% Of Pretax Income
Net Earnings -$1.120M -$1.007M -$1.654M
YoY Change -32.31% -13.96% 62.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$9.629K -$8.684K -$16.17K
COMMON SHARES
Basic Shares Outstanding 116.3M shares 116.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.500M $7.900M $13.50M
YoY Change -51.85% 0.0% -3.57%
Cash & Equivalents $6.493M $7.909M $13.52M
Short-Term Investments
Other Short-Term Assets $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.686M $8.123M $13.76M
YoY Change -51.42% -0.94% -3.03%
LONG-TERM ASSETS
Property, Plant & Equipment $30.08K $31.84K $37.13K
YoY Change -18.97% -99.94% -45.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $55.23M $55.24M $55.24M
YoY Change -0.01% 0.06% -0.06%
TOTAL ASSETS
Total Short-Term Assets $6.686M $8.123M $13.76M
Total Long-Term Assets $55.23M $55.24M $55.24M
Total Assets $61.92M $63.36M $69.00M
YoY Change -10.27% -0.07% -0.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.0K $178.5K $270.5K
YoY Change -54.88% -10.75% 536.91%
Accrued Expenses $394.4K $492.2K $878.7K
YoY Change -55.11% 23.04% -39.45%
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 $516.5K $670.7K $1.149M
YoY Change -55.06% -4.19% -23.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.90M $14.20M $14.70M
YoY Change -5.44% -5.96% -0.68%
Total Long-Term Liabilities $13.90M $14.20M $14.70M
YoY Change -5.44% -5.96% -0.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $516.5K $670.7K $1.149M
Total Long-Term Liabilities $13.90M $14.20M $14.70M
Total Liabilities $14.42M $14.87M $15.85M
YoY Change -9.04% -5.88% -2.73%
SHAREHOLDERS EQUITY
Retained Earnings -$231.0M -$229.9M -$226.2M
YoY Change 2.13% 3.56%
Common Stock $277.7M $277.6M $277.1M
YoY Change 0.2% 3.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.50M $48.49M $53.16M
YoY Change
Total Liabilities & Shareholders Equity $61.92M $63.36M $69.00M
YoY Change -10.27% -0.07% -0.66%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.120M -$1.007M -$1.654M
YoY Change -32.31% -13.96% 62.2%
Depreciation, Depletion And Amortization $0.00 $1.754K $10.00K
YoY Change -100.0% -55.59%
Cash From Operating Activities -$1.210M -$1.010M -$1.320M
YoY Change -8.33% -0.98% -38.03%
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 $7.316M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 7.290M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.210M -1.010M -1.320M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 7.290M
Net Change In Cash -1.210M -1.010M 5.970M
YoY Change -120.27% -0.98% -376.39%
FREE CASH FLOW
Cash From Operating Activities -$1.210M -$1.010M -$1.320M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.210M -$1.010M -$1.320M
YoY Change -8.33% -0.98% -38.03%

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us-gaap Nature Of Operations
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.5in"> <div><b>1.</b></div> </td> <td style="TEXT-ALIGN: justify"> <div><b>GENERAL INFORMATION, NATURE AND CONTINUANCE OF OPERATIONS</b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in"> International Tower Hill Mines Ltd. (&#8220;ITH&#8221; or the "Company") is incorporated under the laws of British Columbia, Canada. The Company&#8217;s head office address is 2300-1177 West Hastings Street, Vancouver, British Columbia, Canada. International Tower Hill Mines Ltd. consists of ITH and its wholly owned subsidiaries Tower Hill Mines, Inc. (&#8220;TH Alaska&#8221;) (an Alaska corporation), Tower Hill Mines (US) LLC (&#8220;TH US&#8221;) (a Colorado limited liability company), Livengood Placers, Inc. (&#8220;LPI&#8221;) (a Nevada corporation), and 813034 Alberta Ltd. (an Alberta corporation). 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. At September 30, 2015, the Company was in the exploration stage and controls a 100% interest in its Livengood Gold Project in Alaska, U.S.A.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in"> 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. The Company has no source of revenue, and has significant cash requirements to meet its administrative overhead and maintain its mineral property interests. The recoverability of amounts shown for capitalized acquisition costs is dependent on several factors. These include the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the development of the Livengood Gold Project, and future profitable production or proceeds from disposition of capitalized acquisition costs. The success of the above initiatives cannot be assured. In the event that the Company is unable to obtain the necessary financing, it may be necessary to defer certain discretionary expenditures and other planned activities.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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