2016 Q1 Form 10-Q Financial Statement

#000121478216000266 Filed on January 14, 2016

View on sec.gov

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2015Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	41368015	shares
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue		USD
CY2015Q3	us-gaap	Preferred Stock Value PreferredStockValue		USD
CY2015Q4	us-gaap	Common Stock Value CommonStockValue	413681	USD
CY2015Q3	us-gaap	Common Stock Value CommonStockValue	413681	USD
CY2015Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	32715902	USD
CY2015Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	32106023	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-31565422	USD
CY2015Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-31282918	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	1564161	USD
CY2015Q3	us-gaap	Stockholders Equity StockholdersEquity	1236786	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2421436	USD
CY2015Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1845867	USD
CY2015Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2015Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2015Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2015Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2015Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2015Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2015Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	41368015	shares
CY2015Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	41368015	shares
CY2015Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	41368015	shares
CY2015Q4	us-gaap	Exploration Expense Mining ExplorationExpenseMining	4848	USD
CY2014Q4	us-gaap	Exploration Expense Mining ExplorationExpenseMining	66074	USD
CY2015Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	273308	USD
CY2014Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	307719	USD
CY2015Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	563267	USD
CY2015Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2938	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	35841	USD
CY2015Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	27420	USD
CY2015Q4	us-gaap	Assets Current AssetsCurrent	599108	USD
CY2015Q3	us-gaap	Assets Current AssetsCurrent	30358	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	39171	USD
CY2015Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	47352	USD
CY2015Q4	us-gaap	Mineral Properties Net MineralPropertiesNet	1753447	USD
CY2015Q3	us-gaap	Mineral Properties Net MineralPropertiesNet	1738447	USD
CY2015Q4	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	29710	USD
CY2015Q3	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	29710	USD
CY2015Q4	us-gaap	Assets Assets	2421436	USD
CY2015Q3	us-gaap	Assets Assets	1845867	USD
CY2015Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	244134	USD
CY2015Q3	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	127172	USD
CY2015Q4	us-gaap	Accounts Payable Related Parties Current AccountsPayableRelatedPartiesCurrent	242296	USD
CY2015Q3	us-gaap	Accounts Payable Related Parties Current AccountsPayableRelatedPartiesCurrent	111064	USD
CY2015Q4	us-gaap	Notes Payable Current NotesPayableCurrent	370845	USD
CY2015Q3	us-gaap	Notes Payable Current NotesPayableCurrent	370845	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	857275	USD
CY2015Q3	us-gaap	Liabilities Current LiabilitiesCurrent	609081	USD
CY2015Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable		USD
CY2015Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable		USD
CY2015Q4	us-gaap	Liabilities Liabilities	857275	USD
CY2015Q3	us-gaap	Liabilities Liabilities	609081	USD
CY2015Q4	us-gaap	Operating Expenses OperatingExpenses	278156	USD
CY2014Q4	us-gaap	Operating Expenses OperatingExpenses	373793	USD
CY2015Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-278156	USD
CY2014Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-373793	USD
CY2015Q4	us-gaap	Interest And Other Income InterestAndOtherIncome	55	USD
CY2014Q4	us-gaap	Interest And Other Income InterestAndOtherIncome	206	USD
CY2015Q4	us-gaap	Other Nonoperating Expense OtherNonoperatingExpense	4403	USD
CY2014Q4	us-gaap	Other Nonoperating Expense OtherNonoperatingExpense	3750	USD
CY2015Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-4348	USD
CY2014Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-3544	USD
CY2015Q4	us-gaap	Net Income Loss NetIncomeLoss	-282504	USD
CY2014Q4	us-gaap	Net Income Loss NetIncomeLoss	-377337	USD
CY2015Q4	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.01
CY2014Q4	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.01
CY2015Q4	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	41368015	shares
CY2014Q4	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	37036916	shares
CY2015Q4	us-gaap	Depreciation Depreciation	8181	USD
CY2014Q4	us-gaap	Depreciation Depreciation	10282	USD
CY2015Q4	us-gaap	Share Based Compensation ShareBasedCompensation	47879	USD
CY2014Q4	us-gaap	Share Based Compensation ShareBasedCompensation	47880	USD
CY2015Q4	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	8421	USD
CY2014Q4	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-35251	USD
CY2015Q4	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	116962	USD
CY2014Q4	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-30963	USD
CY2015Q4	us-gaap	Increase Decrease In Accounts Payable Related Parties IncreaseDecreaseInAccountsPayableRelatedParties	131232	USD
CY2014Q4	us-gaap	Increase Decrease In Accounts Payable Related Parties IncreaseDecreaseInAccountsPayableRelatedParties		USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	13329	USD
CY2014Q4	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-314887	USD
CY2015Q4	us-gaap	Payments To Acquire Mining Assets PaymentsToAcquireMiningAssets	15000	USD
CY2014Q4	us-gaap	Payments To Acquire Mining Assets PaymentsToAcquireMiningAssets	15160	USD
CY2015Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment		USD
CY2014Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment		USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-15000	USD
CY2014Q4	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-15160	USD
CY2015Q4	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	562000	USD
CY2014Q4	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations		USD
CY2015Q4	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	560329	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-330047	USD
CY2014Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	387841	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	57794	USD
CY2015Q4	us-gaap	Interest Paid InterestPaid	4404	USD
CY2014Q4	us-gaap	Interest Paid InterestPaid		USD
CY2015Q4	us-gaap	Income Taxes Paid IncomeTaxesPaid		USD
CY2014Q4	us-gaap	Income Taxes Paid IncomeTaxesPaid		USD
CY2015Q4	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	562000	USD
CY2014Q4	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities		USD
CY2015Q4	dei	Amendment Flag AmendmentFlag	false
CY2015Q4	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--08-31
CY2015Q4	dei	Document Period End Date DocumentPeriodEndDate	2015-11-30
CY2015Q4	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
CY2015Q4	dei	Entity Registrant Name EntityRegistrantName	Texas Rare Earth Resources Corp.
CY2015Q4	dei	Entity Central Index Key EntityCentralIndexKey	0001445942
CY2016Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	45115516	shares
CY2015Q4	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2015Q4	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2015Q4	dei	Document Type DocumentType	10-Q
CY2015Q3	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	80000	USD
CY2015Q4	us-gaap	Related Party Transaction Amounts Of Transaction RelatedPartyTransactionAmountsOfTransaction	1600	USD
CY2015Q4	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	562000	USD

Files In Submission

Name	View Source	Status
0001214782-16-000266-index-headers.html	Edgar Link	pending
0001214782-16-000266-index.html	Edgar Link	pending
0001214782-16-000266.txt	Edgar Link	pending
0001214782-16-000266-xbrl.zip	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
trer-20151130.xml	Edgar Link	completed
trer-20151130.xsd	Edgar Link	pending
trer-20151130_cal.xml	Edgar Link	unprocessable
trer-20151130_def.xml	Edgar Link	unprocessable
trer-20151130_lab.xml	Edgar Link	unprocessable
trer-20151130_pre.xml	Edgar Link	unprocessable
trer10q113015.htm	Edgar Link	pending
trer10q1130150.jpg	Edgar Link	pending