2024 Q4 Form 10-Q Financial Statement

#000165495424014176 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $2.421M $1.665M
YoY Change 4.65% 17.26%
Cost Of Revenue $1.995M $3.709M
YoY Change -40.87% 117.05%
Gross Profit $425.8K -$2.044M
YoY Change -140.13% 607.53%
Gross Profit Margin 17.59% -122.76%
Selling, General & Admin $1.097M
YoY Change 135.4%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $119.6K $245.1K
YoY Change -51.97% 13.9%
% of Gross Profit 28.09%
Operating Expenses $1.271M $1.460M
YoY Change 66.45% 159.73%
Operating Profit -$845.0K -$3.505M
YoY Change -53.69% 311.73%
Interest Expense $155.2K
YoY Change 344.57%
% of Operating Profit
Other Income/Expense, Net $161.9K $6.980K
YoY Change -10.05% -90.13%
Pretax Income -$3.560M
YoY Change 377.55%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$727.5K -$3.562M
YoY Change -55.76% 360.57%
Net Earnings / Revenue -30.05% -213.91%
Basic Earnings Per Share $108.4M
Diluted Earnings Per Share $108.4M -$0.03
COMMON SHARES
Basic Shares Outstanding 108.4M shares 108.4M shares 107.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.97M
YoY Change -38.03%
Cash & Equivalents $12.97M $11.90M
Short-Term Investments $72.90K
Other Short-Term Assets $92.37K
YoY Change -32.87%
Inventory $966.8K $1.386M
Prepaid Expenses
Receivables $791.6K $625.3K
Other Receivables $0.00
Total Short-Term Assets $15.00M $14.08M
YoY Change -9.79% -34.88%
LONG-TERM ASSETS
Property, Plant & Equipment $7.751M $13.45M
YoY Change -40.07% 10.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $509.2K
YoY Change -46.68%
Total Long-Term Assets $14.75M $14.02M
YoY Change 3.17% 7.15%
TOTAL ASSETS
Total Short-Term Assets $15.00M $14.08M
Total Long-Term Assets $14.75M $14.02M
Total Assets $29.75M $28.09M
YoY Change -3.8% -19.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.212M $456.9K
YoY Change 99.97% -27.33%
Accrued Expenses $164.9K $133.8K
YoY Change -26.43% -51.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $131.1K $28.44K
YoY Change 111.24% -69.79%
Total Short-Term Liabilities $2.405M $897.5K
YoY Change 87.92% -59.57%
LONG-TERM LIABILITIES
Long-Term Debt $228.9K $0.00
YoY Change 27.25% -100.0%
Other Long-Term Liabilities $1.677M
YoY Change 326.1%
Total Long-Term Liabilities $228.9K $0.00
YoY Change 27.25% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.405M $897.5K
Total Long-Term Liabilities $228.9K $0.00
Total Liabilities $4.626M $2.574M
YoY Change 150.67% -9.08%
SHAREHOLDERS EQUITY
Retained Earnings -$40.27M -$39.42M
YoY Change 12.29% 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 $25.13M $25.52M
YoY Change
Total Liabilities & Shareholders Equity $29.75M $28.09M
YoY Change -3.8% -19.04%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$727.5K -$3.562M
YoY Change -55.76% 360.57%
Depreciation, Depletion And Amortization $119.6K $245.1K
YoY Change -51.97% 13.9%
Cash From Operating Activities -$932.1K
YoY Change 242.45%
INVESTING ACTIVITIES
Capital Expenditures $8.950K
YoY Change -99.21%
Acquisitions
YoY Change
Other Investing Activities $187.0K
YoY Change -98.57%
Cash From Investing Activities $178.0K
YoY Change -98.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -213.5K
YoY Change -5.38%
NET CHANGE
Cash From Operating Activities -932.1K
Cash From Investing Activities 178.0K
Cash From Financing Activities -213.5K
Net Change In Cash -967.6K
YoY Change -108.49%
FREE CASH FLOW
Cash From Operating Activities -$932.1K
Capital Expenditures $8.950K
Free Cash Flow -$941.1K
YoY Change -33.09%

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dei Entity Registrant Name
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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uamy Common Stock Buyback And Retirement
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us-gaap Nature Of Operations
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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 primarily 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 certain amounts of precious metals, primarily gold and silver, at our plant in Montana from antimony concentrates.</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;"><strong>Recent Development</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;">The Company has two subsidiaries in Mexico, US Antimony de Mexico, S.A. de C.V. (“USAMSA”) and Antimonio de Mexico, S.A. de C.V. (“ADM”). The USAMSA subsidiary primarily includes the Company’s Madero antimony and precious metals plant in Parras de la Fuente Coahuila, Mexico and its Puerto Blanco antimony and precious metals plant in San Luis de la Paz Guanajuato, Mexico. On March 11, 2024, the Company shut down the operations of USAMSA and announced its intent to sell its USAMSA subsidiary. Since this announcement, the Company initiated an active search for buyers of USAMSA’s operations and/or assets. The accounting requirements for reporting USAMSA as a discontinued operation were met in the first quarter of 2024. See <em>Note 12 </em>for further information. The Company will maintain its existing Los Juarez mining claims and concessions in Mexico, which are included in our ADM subsidiary. However, currently, the Company has no active operations in Los Juarez.</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>
CY2024Q3 us-gaap Machinery And Equipment Gross
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uamy Schedule Of The Decision To Sell A Non Core Asset
ScheduleOfTheDecisionToSellANonCoreAsset
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Proceeds from the sale</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">314,125</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Net book value of the BRZ Home</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">297,873</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Gain on sale</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">16,252</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
314125 usd
CY2024Q3 uamy Net Book Value Of Property Plant And Equipment
NetBookValueOfPropertyPlantAndEquipment
297873 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
16252 usd
uamy Schedule Of The Mineral Rights And Interests
ScheduleOfTheMineralRightsAndInterests
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Payment Date</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Payment Amount</p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">August 2024</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">10,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">November 2024</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">15,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">February 2025</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">35,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">August 2025</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">40,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">August 2026</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">50,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">August 2027</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">50,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">August 2028</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">75,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">275,000</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2024Q3 uamy Mineral Properties Payments Made The First Payment
MineralPropertiesPaymentsMadeTheFirstPayment
10000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Second Payment
MineralPropertiesPaymentsMadeTheSecondPayment
15000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Third Payment
MineralPropertiesPaymentsMadeTheThirdPayment
35000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Fourth Payment
MineralPropertiesPaymentsMadeTheFourthPayment
40000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Fifth Payment
MineralPropertiesPaymentsMadeTheFifthPayment
50000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Six Payment
MineralPropertiesPaymentsMadeTheSixPayment
50000 usd
CY2024Q3 uamy Mineral Properties Payments Made The Seventh Payment
MineralPropertiesPaymentsMadeTheSeventhPayment
75000 usd
CY2024Q3 us-gaap Mineral Properties Net
MineralPropertiesNet
275000 usd
CY2024Q3 uamy Mineral Properties Mining Leases Payments Made The First Payment
MineralPropertiesMiningLeasesPaymentsMadeTheFirstPayment
10000 usd
CY2024Q3 uamy Description Of Royalty Payment Agreement
DescriptionOfRoyaltyPaymentAgreement
The Sudbury Agreement requires a royalty payment by the Company of 2.5% of the production from the claims (“Net Smelter Royalty”) with a minimum royalty payment beginning on the fifth anniversary of the agreement of $12,000 per year. 1% of the Net Smelter Royalty can be purchased back by the Company at any time for $1 million. Also, the Sudbury Agreement includes a commitment by the Company to spend an aggregate of $250,000 over four years beginning on the agreement date, with various milestones over this four-year period
uamy Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P18M
uamy Metals Concentration Facility Located Description
MetalsConcentrationFacilityLocatedDescription
the first six months of the lease of $10,000 per month, or $60,000 in total, and fixed cash payments in advance in the last twelve months of the lease of $95,000 per month, or $1.14 million in total, which includes a fixed monthly fee of $45,000 and a minimum milling fee of $50,000 per month. An additional payment of $50 per ton is due each month in the last twelve months of the lease for all milling in excess of 1,000 tons per month
us-gaap Payments For Fees
PaymentsForFees
10000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0349 pure
CY2024Q3 us-gaap Lease Deposit Liability
LeaseDepositLiability
787477 usd
CY2024Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
782646 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
764035 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
33611 usd
CY2024Q3 us-gaap Lease Income
LeaseIncome
10000 usd
CY2023Q3 us-gaap Lease Income
LeaseIncome
15000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
33611 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
0 usd
uamy Cash Paid For Operating Lease Liability
CashPaidForOperatingLeaseLiability
15000 usd
us-gaap Cost Direct Material
CostDirectMaterial
0 usd
us-gaap Cost Direct Material
CostDirectMaterial
10000 usd
uamy Cash Paid For Operating Lease Liability
CashPaidForOperatingLeaseLiability
0 usd
uamy Remaining Lease Term Operating Lease
RemainingLeaseTermOperatingLease
P17M15D
CY2024Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0349 pure
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
757500 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
427500 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1185000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
402354 usd
CY2024Q3 uamy Total Discounted Lease Payments
TotalDiscountedLeasePayments
782646 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
483211 usd
CY2024Q3 uamy Non Current Portion Of Lease Obligations Amount
NonCurrentPortionOfLeaseObligationsAmount
299435 usd
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1692672 shares
CY2023Q1 uamy Cash Paid To Shareholders
CashPaidToShareholders
787730 usd
CY2023Q1 uamy Description Of Returned Of Shares
DescriptionOfReturnedOfShares
Company returned to treasury and cancelled 418,696 of its common shares which were repurchased prior to December 31, 2022 for $202,980
CY2024Q3 uamy Total Assets Excluding Discontinued Operations
TotalAssetsExcludingDiscontinuedOperations
23560877 usd

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