2023 Q4 Form 10-Q Financial Statement

#000165495423013006 Filed on October 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023 Q1
Revenue $1.665M $2.504M $2.211M
YoY Change 17.26% -30.22% -38.25%
Cost Of Revenue $3.709M $2.208M $2.746M
YoY Change 117.05% -22.96% 12.51%
Gross Profit -$2.044M $295.9K -$535.4K
YoY Change 607.53% -59.04% -146.99%
Gross Profit Margin -122.76% 11.82% -24.22%
Selling, General & Admin $1.097M $763.0K $368.1K
YoY Change 135.4% 123.47% 3.43%
% of Gross Profit 257.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $245.1K $241.1K $224.2K
YoY Change 13.9% 4.35% 1.86%
% of Gross Profit 81.48%
Operating Expenses $1.460M $806.0K $476.4K
YoY Change 159.73% 126.73% 32.41%
Operating Profit -$3.505M -$510.1K -$1.012M
YoY Change 311.73% -239.01% -229.8%
Interest Expense $155.2K $162.2K $197.4K
YoY Change 344.57% 5165.82% 6518.04%
% of Operating Profit
Other Income/Expense, Net $6.980K $173.6K $204.9K
YoY Change -90.13% -3139.64% 2970.62%
Pretax Income -$3.560M -$336.5K -$807.0K
YoY Change 377.55% -191.7% -203.51%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.562M -$336.5K -$807.0K
YoY Change 360.57% -193.15% -202.64%
Net Earnings / Revenue -213.91% -13.44% -36.5%
Basic Earnings Per Share $107.6M $107.3M
Diluted Earnings Per Share -$0.03 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 107.6M shares 107.6M shares 107.3M shares
Diluted Shares Outstanding 107.6M shares 107.3M shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.97M $13.95M $15.62M
YoY Change -38.03% -36.23% -27.66%
Cash & Equivalents $11.90M $13.69M $15.36M
Short-Term Investments $72.90K $259.9K $259.9K
Other Short-Term Assets $92.37K $377.8K $279.5K
YoY Change -32.87% 520.19%
Inventory $1.386M $2.350M $1.610M
Prepaid Expenses
Receivables $625.3K $1.308M $1.704M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.08M $17.98M $19.21M
YoY Change -34.88% -25.47% -20.26%
LONG-TERM ASSETS
Property, Plant & Equipment $13.45M $13.01M $12.52M
YoY Change 10.94% 15.73% 12.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $509.2K $1.219M $1.071M
YoY Change -46.68% 270.18% 277.44%
Total Long-Term Assets $14.02M $14.29M $13.65M
YoY Change 7.15% 22.85% 19.26%
TOTAL ASSETS
Total Short-Term Assets $14.08M $17.98M $19.21M
Total Long-Term Assets $14.02M $14.29M $13.65M
Total Assets $28.09M $32.27M $32.86M
YoY Change -19.04% -9.75% -7.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $456.9K $407.1K $835.7K
YoY Change -27.33% -40.09% -24.55%
Accrued Expenses $133.8K $224.5K $169.4K
YoY Change -51.17% -67.27% -72.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $28.44K $82.57K $95.57K
YoY Change -69.79% -9.61% 677.84%
Total Short-Term Liabilities $897.5K $977.9K $1.209M
YoY Change -59.57% -33.06% -30.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $183.1K $193.4K
YoY Change -100.0% -48.72% -2.71%
Other Long-Term Liabilities $1.677M $382.5K $396.8K
YoY Change 326.1% -25.46% -10.02%
Total Long-Term Liabilities $0.00 $183.1K $193.4K
YoY Change -100.0% -48.72% -2.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $897.5K $977.9K $1.209M
Total Long-Term Liabilities $0.00 $183.1K $193.4K
Total Liabilities $2.574M $1.544M $1.799M
YoY Change -9.08% -31.09% -24.53%
SHAREHOLDERS EQUITY
Retained Earnings -$39.42M -$34.21M -$33.88M
YoY Change 19.2% 8.4% 6.12%
Common Stock $1.076M $1.076M $1.076M
YoY Change 1.2% 1.32% 1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00 $0.00
YoY Change -100.0%
Treasury Stock Shares
Shareholders Equity $25.52M $30.73M $31.06M
YoY Change
Total Liabilities & Shareholders Equity $28.09M $32.27M $32.86M
YoY Change -19.04% -9.75% -7.53%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$3.562M -$336.5K -$807.0K
YoY Change 360.57% -193.15% -202.64%
Depreciation, Depletion And Amortization $245.1K $241.1K $224.2K
YoY Change 13.9% 4.35% 1.86%
Cash From Operating Activities -$932.1K -$917.7K -$2.274M
YoY Change 242.45% -257.92% -1487.28%
INVESTING ACTIVITIES
Capital Expenditures $8.950K $733.1K $614.8K
YoY Change -99.21% -476.99% 226.07%
Acquisitions
YoY Change
Other Investing Activities $187.0K $0.00
YoY Change -98.57% -100.0%
Cash From Investing Activities $178.0K -$733.1K -$614.8K
YoY Change -98.5% -94.6% 226.07%
FINANCING ACTIVITIES
Cash Dividend Paid $787.7K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $23.02K
YoY Change 467.46%
Cash From Financing Activities -213.5K -23.35K -$810.8K
YoY Change -5.38% 48.63% 19884.03%
NET CHANGE
Cash From Operating Activities -932.1K -917.7K -$2.274M
Cash From Investing Activities 178.0K -733.1K -$614.8K
Cash From Financing Activities -213.5K -23.35K -$810.8K
Net Change In Cash -967.6K -1.674M -$3.699M
YoY Change -108.49% -87.14% 12791.84%
FREE CASH FLOW
Cash From Operating Activities -$932.1K -$917.7K -$2.274M
Capital Expenditures $8.950K $733.1K $614.8K
Free Cash Flow -$941.1K -$1.651M -$2.889M
YoY Change -33.09% -312.84% 11624.01%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19117666 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21420329 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13744215 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8369750 usd
uamy Retirement Of Common Stock
RetirementOfCommonStock
202980 shares
uamy Conversion Of Preferred Series D To Common Stock
ConversionOfPreferredSeriesDToCommonStock
16927 usd
uamy Conversion Of Preferred Series D To Common Stock
ConversionOfPreferredSeriesDToCommonStock
0 usd
uamy Equipment Purchased With Note Payable
EquipmentPurchasedWithNotePayable
0 usd
uamy Equipment Purchased With Note Payable
EquipmentPurchasedWithNotePayable
161600 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12923713 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12128124 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 - NATURE OF OPERATIONS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">United States Antimony Corporation and its subsidiaries in the U.S. and Mexico (“USAC”, the “Company”, or “Our”) sell processed antimony, zeolite, and precious metals products in the U.S. and abroad. The Company processes antimony ore in the U.S. and Mexico primarily into antimony oxide and antimony metal at its facilities in Montana and Mexico. Our antimony oxide is used to form a flame-retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings and paper, as a color fastener in paint, and as a phosphorescent agent in fluorescent light bulbs. Our antimony metal is used in bearings, storage batteries, and ordnance. In its operations in Idaho, the Company mines and processes zeolite, a group of industrial minerals used in soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, animal nutrition, and other miscellaneous applications.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain reclassifications have been made to conform prior period amounts to the current presentation. These reclassifications have no effect on the results of operations, stockholders’ equity and cash flows as previously reported. </p>
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
12346215 usd
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
14182594 usd
CY2023Q2 us-gaap Revenues
Revenues
2503573 usd
CY2022Q2 us-gaap Revenues
Revenues
3587925 usd
us-gaap Revenues
Revenues
4714417 usd
us-gaap Revenues
Revenues
7168231 usd
CY2023Q2 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
1307974 usd
CY2022Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
784457 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
75000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
31440 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
2350305 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1375068 usd
us-gaap Inventory Write Down
InventoryWriteDown
456238 usd
us-gaap Inventory Write Down
InventoryWriteDown
136836 usd
CY2023Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
18065882 usd
CY2023Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
3029634 usd
CY2023Q2 us-gaap Land
Land
5304177 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26399693 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13389054 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13010639 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
17195914 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2160805 usd
CY2022Q4 us-gaap Land
Land
5244177 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
450941 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25051837 usd
CY2023Q2 uamy Assets Not Yet Placed In Service
AssetsNotYetPlacedInService
280406 usd
CY2022Q4 uamy Assets Not Yet Placed In Service
AssetsNotYetPlacedInService
1117041 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
265636 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
312005 usd
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
82573 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
94150 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
183063 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
217855 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
82573 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
12924 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
13219 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
156920 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
265636 usd
CY2023Q2 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
45359 usd
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
435075 usd
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1692672 shares
CY2023Q1 uamy Cash Paid To Shareholders
CashPaidToShareholders
787730 usd
CY2023Q1 uamy Description Of Returned Of Shares
DescriptionOfReturnedOfShares
the Company returned to treasury and cancelled 418,696 of its common shares which were repurchased prior to December 31, 2022 for $202,980
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
12346215 shares
CY2023Q2 uamy Warrants Exercised Exercise Price
WarrantsExercisedExercisePrice
0.75
CY2023Q2 us-gaap Assets
Assets
32269313 usd
CY2022Q4 us-gaap Assets
Assets
34700450 usd
CY2023Q2 uamy Capital Expenditure
CapitalExpenditure
733086 usd
CY2022Q2 uamy Capital Expenditure
CapitalExpenditure
371654 usd
uamy Capital Expenditure
CapitalExpenditure
1347856 usd
uamy Capital Expenditure
CapitalExpenditure
544599 usd
CY2023Q2 us-gaap Revenues
Revenues
2503573 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
241100 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-510089 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
173624 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-336465 usd
CY2022Q2 us-gaap Revenues
Revenues
3587925 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
231057 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
366935 usd
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5712 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
361223 usd
us-gaap Revenues
Revenues
4714417 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
465341 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
378496 usd
us-gaap Net Income Loss
NetIncomeLoss
-1143449 usd
us-gaap Revenues
Revenues
7168231 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
451207 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1146515 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
960 usd
us-gaap Net Income Loss
NetIncomeLoss
1147475 usd

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