2024 Q2 Form 10-K Financial Statement

#000165495424004576 Filed on April 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $2.814M $1.665M $8.693M
YoY Change 12.39% 17.26% -21.29%
Cost Of Revenue $1.905M $3.709M $12.04M
YoY Change -13.7% 117.05% 33.04%
Gross Profit $908.6K -$2.044M -$3.345M
YoY Change 207.08% 607.53% -267.56%
Gross Profit Margin 32.29% -122.76% -38.48%
Selling, General & Admin $984.3K $1.097M $2.925M
YoY Change 29.0% 135.4% 102.78%
% of Gross Profit 108.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $114.5K $245.1K $959.4K
YoY Change -52.52% 13.9% 5.52%
% of Gross Profit 12.6%
Operating Expenses $1.122M $1.460M $3.724M
YoY Change 39.24% 159.73% 125.99%
Operating Profit -$213.6K -$3.505M -$7.069M
YoY Change -58.12% 311.73% -2130.1%
Interest Expense $151.9K $155.2K $688.7K
YoY Change -6.36% 344.57% -1826.52%
% of Operating Profit
Other Income/Expense, Net $157.9K $6.980K $720.7K
YoY Change -9.06% -90.13% 428.31%
Pretax Income -$55.70K -$3.560M -$6.348M
YoY Change -83.45% 377.55% -1527.45%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $202.8K -$3.562M -$6.348M
YoY Change -160.27% 360.57% -1764.56%
Net Earnings / Revenue 7.21% -213.91% -73.03%
Basic Earnings Per Share $108.4M -$0.06
Diluted Earnings Per Share $108.9M -$0.03 -$0.06
COMMON SHARES
Basic Shares Outstanding 107.6M shares 107.6M shares
Diluted Shares Outstanding 107.6M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.41M $11.97M $11.97M
YoY Change -10.99% -38.03% -38.03%
Cash & Equivalents $12.39M $11.90M $11.90M
Short-Term Investments $22.22K $72.90K $72.90K
Other Short-Term Assets $342.0K $92.37K $92.37K
YoY Change -9.47% -32.87% -32.87%
Inventory $462.4K $1.386M $1.386M
Prepaid Expenses
Receivables $1.394M $625.3K $625.3K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.61M $14.08M $14.08M
YoY Change -18.75% -34.88% -34.88%
LONG-TERM ASSETS
Property, Plant & Equipment $7.799M $13.45M $13.45M
YoY Change -40.06% 10.94% 10.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.519M $509.2K $564.3K
YoY Change 434.99% -46.68% -40.91%
Total Long-Term Assets $14.32M $14.02M $14.02M
YoY Change 0.22% 7.15% 7.15%
TOTAL ASSETS
Total Short-Term Assets $14.61M $14.08M $14.08M
Total Long-Term Assets $14.32M $14.02M $14.02M
Total Assets $28.93M $28.09M $28.10M
YoY Change -10.35% -19.04% -19.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $544.1K $456.9K $456.9K
YoY Change 33.64% -27.33% -27.33%
Accrued Expenses $157.0K $133.8K $258.7K
YoY Change -30.07% -51.17% -5.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $130.0K $28.44K $28.44K
YoY Change 57.4% -69.79% -69.79%
Total Short-Term Liabilities $1.252M $897.5K $897.5K
YoY Change 28.04% -59.57% -59.57%
LONG-TERM LIABILITIES
Long-Term Debt $262.1K $0.00 $0.00
YoY Change 43.19% -100.0% -100.0%
Other Long-Term Liabilities $1.713M $1.677M $1.677M
YoY Change 347.87% 326.1% 326.1%
Total Long-Term Liabilities $262.1K $0.00 $1.677M
YoY Change 43.19% -100.0% 174.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.252M $897.5K $897.5K
Total Long-Term Liabilities $262.1K $0.00 $1.677M
Total Liabilities $3.227M $2.574M $2.574M
YoY Change 109.1% -9.08% -9.08%
SHAREHOLDERS EQUITY
Retained Earnings -$39.54M -$39.42M
YoY Change 15.56% 19.2%
Common Stock $1.084M $1.076M
YoY Change 0.74% 1.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares
Shareholders Equity $25.70M $25.52M $25.52M
YoY Change
Total Liabilities & Shareholders Equity $28.93M $28.09M $28.10M
YoY Change -10.35% -19.04% -19.04%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $202.8K -$3.562M -$6.348M
YoY Change -160.27% 360.57% -1764.56%
Depreciation, Depletion And Amortization $114.5K $245.1K $959.4K
YoY Change -52.52% 13.9% 5.52%
Cash From Operating Activities $565.9K -$932.1K -$4.750M
YoY Change -161.67% 242.45% 1805.5%
INVESTING ACTIVITIES
Capital Expenditures $98.01K $8.950K $1.529M
YoY Change -86.63% -99.21% -11.45%
Acquisitions
YoY Change
Other Investing Activities $0.00 $187.0K $187.0K
YoY Change -98.57% -415.54%
Cash From Investing Activities -$98.01K $178.0K -$1.342M
YoY Change -86.63% -98.5% -24.86%
FINANCING ACTIVITIES
Cash Dividend Paid $787.7K
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $283.6K
YoY Change 337.97%
Cash From Financing Activities -17.80K -213.5K -$1.071M
YoY Change -23.77% -5.38% 300.14%
NET CHANGE
Cash From Operating Activities 565.9K -932.1K -$4.750M
Cash From Investing Activities -98.01K 178.0K -$1.342M
Cash From Financing Activities -17.80K -213.5K -$1.071M
Net Change In Cash 450.1K -967.6K -$7.163M
YoY Change -126.89% -108.49% 211.08%
FREE CASH FLOW
Cash From Operating Activities $565.9K -$932.1K -$4.750M
Capital Expenditures $98.01K $8.950K $1.529M
Free Cash Flow $467.9K -$941.1K -$6.279M
YoY Change -128.35% -33.09% 217.8%

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<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”, “Our”, “Us”, or “We”) sell processed antimony, zeolite, and precious metals products in the U.S. and Canada. The Company processes antimony ore primarily into antimony oxide, antimony metal, and antimony trisulfide. 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. Our antimony trisulfide is used as a primer in ammunition. 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. We recover precious metals, primarily gold and silver, at our plant in Montana from antimony concentrates.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical accounting estimates include impairment of long-lived assets, antimony content of mineral resources, and asset retirement obligations. Actual results could differ from those estimates.</p>
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the Company returned to treasury and cancelled 418,696 of its common shares which were repurchased prior to December 31, 2022 for $202,980
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2023 uamy Equityincentiveplan Textblock
EquityincentiveplanTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 12 – 2023 Equity Incentive Plan</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;">In December 2023, the shareholders of the Company approved United States Antimony Corporation’s 2023 Equity Incentive Plan (“the Plan”). The Plan provides for the grant of incentive stock options and non-qualified stock options to purchase shares of our common stock and other types of awards. The general purpose of the Equity Incentive Plan is to provide a means whereby eligible employees, officers, non-employee directors and other individual service providers develop a sense of proprietorship and personal involvement in our development and financial success, and to encourage them to devote their best efforts to our business, thereby advancing our interests and the interests of our shareholders. By means of the Equity Incentive Plan, we seek to retain the services of such eligible persons and to provide incentives for such persons to exert maximum efforts for our success and the success of our subsidiaries. The maximum number of shares of common stock available for issuance in connection with options and other awards granted under the Equity Incentive Plan is 8,700,000. At December 31, 2023, no shares had been issued under the Plan.</p>
CY2023Q4 uamy Maximum Number Of Shares Of Common Stock
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CY2022Q4 us-gaap Assets
Assets
34700450 usd
CY2023 uamy Capital Expenditure
CapitalExpenditure
1528672 usd
CY2022 uamy Capital Expenditure
CapitalExpenditure
1888015 usd
CY2023 us-gaap Revenues
Revenues
8693155 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
959445 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-7069001 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
720714 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-6348287 usd
CY2022 us-gaap Revenues
Revenues
11044707 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
909220 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
348205 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
96529 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16073 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
428661 usd

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0001654954-24-004576.txt Edgar Link pending
0001654954-24-004576-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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uamy-20231231_lab.xml Edgar Link unprocessable
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uamy_10k_htm.xml Edgar Link completed
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