$VYEY
VICTORY CLEAN ENERGY, INC.

2015 Q2 Form 10-Q Financial Statement

#000162828015006793 Filed on August 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $269.6K $238.0K
YoY Change 13.3% 48.74%
Cost Of Revenue $60.00K $70.00K
YoY Change -14.29% 16.67%
Gross Profit $210.0K $170.0K
YoY Change 23.53% 70.0%
Gross Profit Margin 77.88% 71.44%
Selling, General & Admin $1.070M $980.0K
YoY Change 9.18% 133.33%
% of Gross Profit 509.52% 576.47%
Research & Development $0.00 $20.00K
YoY Change -100.0%
% of Gross Profit 0.0% 11.76%
Depreciation & Amortization $170.0K $90.00K
YoY Change 88.89% 50.0%
% of Gross Profit 80.95% 52.94%
Operating Expenses $1.240M $1.090M
YoY Change 13.76% 122.45%
Operating Profit -$1.333M -$924.5K
YoY Change 44.21% 137.06%
Interest Expense $28.48K $22.22K
YoY Change 28.16%
% of Operating Profit
Other Income/Expense, Net -$27.30K $2.222M
YoY Change -101.23%
Pretax Income -$1.361M $1.298M
YoY Change -204.83% -432.77%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$1.247M $272.2K
YoY Change -558.31% -187.8%
Net Earnings / Revenue -462.65% 114.38%
Basic Earnings Per Share -$0.04 $0.01
Diluted Earnings Per Share -$0.04 $0.01
COMMON SHARES
Basic Shares Outstanding 29.30M shares 28.23M shares
Diluted Shares Outstanding 29.30M shares 28.84M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $1.220M
YoY Change -100.0% 238.89%
Cash & Equivalents $3.014K $1.224M
Short-Term Investments
Other Short-Term Assets $10.00K $20.00K
YoY Change -50.0%
Inventory
Prepaid Expenses $7.261K
Receivables $34.60K $190.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $171.1K $1.440M
YoY Change -88.12% 176.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.640M $3.470M
YoY Change -52.74% 30.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $70.00K $110.0K
YoY Change -36.36%
Total Long-Term Assets $1.706M $3.580M
YoY Change -52.35% 34.08%
TOTAL ASSETS
Total Short-Term Assets $171.1K $1.440M
Total Long-Term Assets $1.706M $3.580M
Total Assets $1.877M $5.020M
YoY Change -62.61% 57.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.086M $200.0K
YoY Change 943.16% -23.08%
Accrued Expenses $488.5K $260.0K
YoY Change 87.9% 13.04%
Deferred Revenue
YoY Change
Short-Term Debt $790.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.966M $460.0K
YoY Change 762.2% -8.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $800.0K
YoY Change -100.0%
Other Long-Term Liabilities $30.00K $40.00K
YoY Change -25.0% -20.0%
Total Long-Term Liabilities $32.72K $840.0K
YoY Change -96.1% 1580.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.966M $460.0K
Total Long-Term Liabilities $32.72K $840.0K
Total Liabilities $3.999M $7.260M
YoY Change -44.92% 53.81%
SHAREHOLDERS EQUITY
Retained Earnings -$42.91M
YoY Change
Common Stock $35.19M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.711M -$2.240M
YoY Change
Total Liabilities & Shareholders Equity $1.877M $5.020M
YoY Change -62.61% 57.37%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$1.247M $272.2K
YoY Change -558.31% -187.8%
Depreciation, Depletion And Amortization $170.0K $90.00K
YoY Change 88.89% 50.0%
Cash From Operating Activities -$50.00K -$440.0K
YoY Change -88.64% 175.0%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K -$320.0K
YoY Change 15.63% -37.25%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.530M
YoY Change -100.0% -2012.5%
Cash From Investing Activities -$370.0K $1.210M
YoY Change -130.58% -305.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 240.0K 240.0K
YoY Change 0.0% -77.98%
NET CHANGE
Cash From Operating Activities -50.00K -440.0K
Cash From Investing Activities -370.0K 1.210M
Cash From Financing Activities 240.0K 240.0K
Net Change In Cash -180.0K 1.010M
YoY Change -117.82% 197.06%
FREE CASH FLOW
Cash From Operating Activities -$50.00K -$440.0K
Capital Expenditures -$370.0K -$320.0K
Free Cash Flow $320.0K -$120.0K
YoY Change -366.67% -134.29%

Facts In Submission

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CY2015Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
46883 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
17965 USD
CY2015Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
21197 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
28918 USD
CY2015Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
25686 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
433000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10000 USD
CY2015Q2 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
175815 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
251014 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-40111826 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42905857 USD
us-gaap Share Based Compensation
ShareBasedCompensation
370700 USD
us-gaap Share Based Compensation
ShareBasedCompensation
47239 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-5108182 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
-7711469 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1468823 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2122035 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28835476 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27898958 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29302826 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29253937 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28230612 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27898958 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29302826 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29253937 shares
vyey Increase Decrease In Accrued Liabilitiesrelated Parties
IncreaseDecreaseInAccruedLiabilitiesrelatedParties
42390 USD
vyey Increase Decrease In Accrued Liabilitiesrelated Parties
IncreaseDecreaseInAccruedLiabilitiesrelatedParties
96226 USD
CY2014Q2 vyey Management Fee Related Party
ManagementFeeRelatedParty
84993 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
88892 USD
CY2015Q2 vyey Management Fee Related Party
ManagementFeeRelatedParty
1176 USD
vyey Management Fee Related Party
ManagementFeeRelatedParty
2675 USD
CY2014Q4 vyey Oiland Gas Property Successful Efforts Method Netof Impairment
OilandGasPropertySuccessfulEffortsMethodNetofImpairment
2838573 USD
CY2015Q2 vyey Oiland Gas Property Successful Efforts Method Netof Impairment
OilandGasPropertySuccessfulEffortsMethodNetofImpairment
3566211 USD
CY2015Q1 vyey Pre Merger Loanand Funding Agreement Loan Receivable Numberof Days Notice Required Before Pre Payment
PreMergerLoanandFundingAgreementLoanReceivableNumberofDaysNoticeRequiredBeforePrePayment
P10D
vyey Relatedpartycontribution
Relatedpartycontribution
890000 USD
vyey Relatedpartycontribution
Relatedpartycontribution
2175000 USD
vyey Renewal Of Leaseholds
RenewalOfLeaseholds
22577 USD
vyey Renewal Of Leaseholds
RenewalOfLeaseholds
0 USD
vyey Restricted Stock In Exchange For Services
RestrictedStockInExchangeForServices
20417 USD
vyey Restricted Stock In Exchange For Services
RestrictedStockInExchangeForServices
143505 USD
CY2015Q2 vyey Warrant Granted
WarrantGranted
286075 USD
vyey Warrant Granted
WarrantGranted
286075 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used primarily when accounting for depreciation, depletion, and amortization (&#8220;DD&amp;A&#8221;) expense, property costs, estimated future net cash flows from proved reserves, cost to abandon oil and natural gas properties, taxes, accruals of capitalized costs, operating costs and production revenue, general and administrative costs and interest, exploration expense, the purchase price allocation on properties acquired, various common stock, warrants and option transactions, and contingencies.</font></div></div>

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0001628280-15-006793-index-headers.html Edgar Link pending
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0001628280-15-006793.txt Edgar Link pending
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