2015 Q1 Form 10-K Financial Statement

#000114420415018586 Filed on March 26, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2013 Q3
Revenue $2.455M $3.762M $2.797M
YoY Change -411.86%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $183.8K $146.6K $165.6K
YoY Change 29.67% -32.31% -23.34%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $5.349K
YoY Change -30.63%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $2.320M $3.631M $2.662M
YoY Change -354.19% -253.63% -85.24%
Net Earnings / Revenue 94.5% 96.53% 95.17%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 2.600M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $82.73M $52.19M $47.16M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $90.77M $57.16M
YoY Change 80.75% -11.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $101.4K $257.8K
YoY Change 49.41% -17.84%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $90.77M $57.16M
YoY Change -11.44%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $2.320M $3.631M $2.662M
YoY Change -354.19% -253.63% -85.24%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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United States Gasoline Fund, LP
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0001396878
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3631297 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-22691637 USD
CY2013Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
3.18
CY2014Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.89
CY2013Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-7.25
CY2014Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
4.02
CY2014Q4 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-20.51
CY2013Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
171146 USD
CY2014Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
124693 USD
CY2013Q4 uga License Fees Payable Current And Noncurrent
LicenseFeesPayableCurrentAndNoncurrent
2160 USD
CY2014Q4 uga License Fees Payable Current And Noncurrent
LicenseFeesPayableCurrentAndNoncurrent
1948 USD
CY2012 us-gaap Other Income
OtherIncome
12250 USD
CY2013 us-gaap Other Income
OtherIncome
5600 USD
CY2014 us-gaap Other Income
OtherIncome
6650 USD
CY2012 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
18888 USD
CY2012 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-26 USD
CY2013 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
0 USD
CY2014 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
0 USD
CY2012 us-gaap Increase Decrease In Due To Officers And Stockholders
IncreaseDecreaseInDueToOfficersAndStockholders
-966 USD
CY2013 us-gaap Increase Decrease In Due To Officers And Stockholders
IncreaseDecreaseInDueToOfficersAndStockholders
1028 USD
CY2014 us-gaap Increase Decrease In Due To Officers And Stockholders
IncreaseDecreaseInDueToOfficersAndStockholders
-415 USD
CY2012 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-20913 USD
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-46453 USD
CY2014 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-46453 USD
CY2012 uga Increase Decrease In License Fees Payable
IncreaseDecreaseInLicenseFeesPayable
-1049 USD
CY2013 uga Increase Decrease In License Fees Payable
IncreaseDecreaseInLicenseFeesPayable
-326 USD
CY2014 uga Increase Decrease In License Fees Payable
IncreaseDecreaseInLicenseFeesPayable
-212 USD
CY2013Q4 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
0 USD
CY2014Q4 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
1689272 USD
CY2012 us-gaap Increase Decrease In Trading Liabilities
IncreaseDecreaseInTradingLiabilities
-33 USD
CY2013 us-gaap Increase Decrease In Trading Liabilities
IncreaseDecreaseInTradingLiabilities
0 USD
CY2014 us-gaap Increase Decrease In Trading Liabilities
IncreaseDecreaseInTradingLiabilities
0 USD
CY2013Q4 uga Directors Fees And Insurance Receivable
DirectorsFeesAndInsuranceReceivable
258 USD
CY2014Q4 uga Directors Fees And Insurance Receivable
DirectorsFeesAndInsuranceReceivable
673 USD
CY2012 uga Increase Decrease In Other Income
IncreaseDecreaseInOtherIncome
0 USD
CY2013 uga Increase Decrease In Other Income
IncreaseDecreaseInOtherIncome
0 USD
CY2014 uga Increase Decrease In Other Income
IncreaseDecreaseInOtherIncome
-350 USD
CY2013Q4 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
0 USD
CY2014Q4 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
350 USD
CY2014 us-gaap Incentive Distribution Policy Managing Member Or General Partner Description
IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Partnership Capital and Allocation of Partnership Income and Losses</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Profit or loss shall be allocated among the partners of UGA in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Reclassification</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Certain amounts in the accompanying financial statements were reclassified to conform to the current presentation.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of&#160;financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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