2021 Q3 Form 10-Q Financial Statement

#000165495421008519 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $207.0K $256.0K $254.0K
YoY Change -8.41% 0.79% -20.87%
% of Gross Profit
Research & Development $442.0K $237.0K $44.00K
YoY Change 294.64% 438.64% -93.73%
% of Gross Profit
Depreciation & Amortization $8.000K $7.000K $7.000K
YoY Change 33.33% 0.0% 16.67%
% of Gross Profit
Operating Expenses $674.0K $500.0K $305.0K
YoY Change 95.93% 63.93% -70.36%
Operating Profit
YoY Change
Interest Expense -$27.00K -$168.0K $516.0K
YoY Change -109.28% -132.56% 1811.11%
% of Operating Profit
Other Income/Expense, Net -$27.00K -$168.0K $560.0K
YoY Change -109.28% -130.0%
Pretax Income -$701.0K -$668.0K $255.0K
YoY Change 1222.64% -361.96% -125.45%
Income Tax
% Of Pretax Income
Net Earnings -$701.0K -$668.0K $255.0K
YoY Change 1222.64% -361.96% -125.45%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$11.99K -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 58.44M shares 58.43K shares 58.12K shares
Diluted Shares Outstanding 58.43K shares 58.25K shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.780M $1.686M $8.586M
YoY Change -79.24% -80.36% -18.03%
Cash & Equivalents $554.0K $405.0K $371.0K
Short-Term Investments $1.226M $1.281M $8.215M
Other Short-Term Assets $3.283M $4.145M $41.00K
YoY Change 11625.0% 10009.76% -90.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.048M $6.955M $8.627M
YoY Change -29.69% -19.38% -20.78%
LONG-TERM ASSETS
Property, Plant & Equipment $16.29M $16.18M $15.72M
YoY Change 3.74% 2.94% 0.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $174.0K $192.0K $37.00K
YoY Change 135.14% 418.92% -38.33%
Total Long-Term Assets $16.30M $16.19M $15.76M
YoY Change 3.33% 2.78% -0.14%
TOTAL ASSETS
Total Short-Term Assets $6.048M $6.955M $8.627M
Total Long-Term Assets $16.30M $16.19M $15.76M
Total Assets $22.35M $23.15M $24.38M
YoY Change -8.32% -5.06% -8.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $215.0K $438.0K $123.0K
YoY Change 52.48% 256.1% -81.56%
Accrued Expenses $36.00K $35.00K $28.00K
YoY Change 111.76% 25.0% -28.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $70.00K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $251.0K $474.0K $268.0K
YoY Change 1.62% 76.87% -62.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $171.0K $181.0K $125.0K
YoY Change 36.8% 44.8% -18.3%
Total Long-Term Liabilities $171.0K $181.0K $125.0K
YoY Change 36.8% 44.8% -18.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $251.0K $474.0K $268.0K
Total Long-Term Liabilities $171.0K $181.0K $125.0K
Total Liabilities $422.0K $655.0K $393.0K
YoY Change 13.44% 66.67% -54.25%
SHAREHOLDERS EQUITY
Retained Earnings -$49.49M -$48.79M
YoY Change
Common Stock $586.0K $584.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.93M $22.49M $23.99M
YoY Change
Total Liabilities & Shareholders Equity $22.35M $23.15M $24.38M
YoY Change -8.32% -5.06% -8.57%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$701.0K -$668.0K $255.0K
YoY Change 1222.64% -361.96% -125.45%
Depreciation, Depletion And Amortization $8.000K $7.000K $7.000K
YoY Change 33.33% 0.0% 16.67%
Cash From Operating Activities -$993.0K -$348.0K -$283.0K
YoY Change 409.23% 22.97% -65.61%
INVESTING ACTIVITIES
Capital Expenditures -$257.0K -$240.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.360M -$427.0K $145.0K
YoY Change 471.43% -394.48% -82.96%
Cash From Investing Activities $1.103M -$667.0K $145.0K
YoY Change 363.45% -560.0% -82.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.00K 16.00K 69.00K
YoY Change -4000.0% -76.81% -3550.0%
NET CHANGE
Cash From Operating Activities -993.0K -348.0K -283.0K
Cash From Investing Activities 1.103M -667.0K 145.0K
Cash From Financing Activities 39.00K 16.00K 69.00K
Net Change In Cash 149.0K -999.0K -69.00K
YoY Change 254.76% 1347.83% -365.38%
FREE CASH FLOW
Cash From Operating Activities -$993.0K -$348.0K -$283.0K
Capital Expenditures -$257.0K -$240.0K
Free Cash Flow -$736.0K -$108.0K
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">Solitario faces risks related to health epidemics and other outbreaks of communicable diseases, which could significantly disrupt its operations and may materially and adversely affect its business and financial conditions.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">Solitario’s business could be adversely impacted by the effects of the coronavirus (“COVID-19”) or other epidemics or pandemics. Solitario has recommended all of its employees and contractors follow government guidelines for health and safety policies for employees and contractors, including encouraging tele-commuting and working from home where possible. Solitario has evaluated the effects of the COVID-19 pandemic on its operations and taken pro-active steps to address the impacts on its operations, including reducing certain costs, in response to the economic uncertainty associated with potential risks from the COVID-19 pandemic. Also, Solitario has evaluated the potential impacts on its ability to access future traditional funding sources on the same or reasonably similar terms as in past periods. Solitario will continue to monitor the effects of the COVID-19 pandemic on its operations, financial condition and liquidity. However, the extent to which the COVID-19 pandemic ultimately impacts Solitario’s business, including our exploration and other activities and the market for our securities, will depend on future developments, which are highly uncertain and cannot be predicted at this time, and include the duration, severity and scope of the outbreak and the actions taken to contain or treat the coronavirus outbreak. </p>
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CY2021Q2 us-gaap Cost Of Other Property Operating Expense
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213000 USD
CY2020Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
1620000 USD
CY2020Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
23000 USD
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
338000 USD
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
113000 USD
CY2020Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
21000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
46000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
44000 USD
CY2021Q2 slr Exploration Expense Mineral Properties
ExplorationExpenseMineralProperties
237000 USD
CY2020Q2 slr Exploration Expense Mineral Properties
ExplorationExpenseMineralProperties
44000 USD
slr Exploration Expense Mineral Properties
ExplorationExpenseMineralProperties
384000 USD
slr Exploration Expense Mineral Properties
ExplorationExpenseMineralProperties
157000 USD
CY2021Q2 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
1281000 USD
CY2021Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
2031000 USD
CY2020Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
2099000 USD
CY2021Q2 slr Unrealized Gain Loss On Marketable Equity Securities
UnrealizedGainLossOnMarketableEquitySecurities
-750000 USD
CY2020Q4 slr Unrealized Gain Loss On Marketable Equity Securities
UnrealizedGainLossOnMarketableEquitySecurities
-479000 USD
CY2021Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1281000 USD
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1620000 USD
CY2021Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
4000 USD
CY2020Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
69000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
51000 USD
CY2021Q2 slr Realized Gain On Marketable Equity Securities Sold
RealizedGainOnMarketableEquitySecuritiesSold
6000 USD
CY2020Q2 slr Realized Gain On Marketable Equity Securities Sold
RealizedGainOnMarketableEquitySecuritiesSold
0 USD
slr Realized Gain On Marketable Equity Securities Sold
RealizedGainOnMarketableEquitySecuritiesSold
19000 USD
slr Realized Gain On Marketable Equity Securities Sold
RealizedGainOnMarketableEquitySecuritiesSold
25000 USD
CY2021Q2 slr Proceeds From The Sale Of Marketable Equity Securities Sold
ProceedsFromTheSaleOfMarketableEquitySecuritiesSold
-10000 USD
CY2020Q2 slr Proceeds From The Sale Of Marketable Equity Securities Sold
ProceedsFromTheSaleOfMarketableEquitySecuritiesSold
0 USD
slr Proceeds From The Sale Of Marketable Equity Securities Sold
ProceedsFromTheSaleOfMarketableEquitySecuritiesSold
-88000 USD
slr Proceeds From The Sale Of Marketable Equity Securities Sold
ProceedsFromTheSaleOfMarketableEquitySecuritiesSold
-76000 USD
CY2021Q2 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
-142000 USD
CY2020Q2 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
484000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
-251000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
276000 USD
us-gaap Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
0 USD
CY2021Q2 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
10000 USD
CY2020Q2 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
11000 USD
CY2020Q2 us-gaap Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
294000 USD
CY2021Q2 us-gaap Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
0 USD
us-gaap Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
294000 USD
CY2021Q2 us-gaap Marketable Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
-152000 USD
CY2020Q2 us-gaap Marketable Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
778000 USD
us-gaap Marketable Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
-339000 USD
us-gaap Marketable Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
494000 USD
CY2021Q2 us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-148000 USD
CY2020Q2 us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
484000 USD
us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-270000 USD
us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
251000 USD
CY2021Q2 slr Realized Gain On Marketable Equities Securities Sold
RealizedGainOnMarketableEquitiesSecuritiesSold
6000 USD
CY2020Q2 slr Realized Gain On Marketable Equities Securities Sold
RealizedGainOnMarketableEquitiesSecuritiesSold
0 USD
slr Realized Gain On Marketable Equities Securities Sold
RealizedGainOnMarketableEquitiesSecuritiesSold
19000 USD
slr Realized Gain On Marketable Equities Securities Sold
RealizedGainOnMarketableEquitiesSecuritiesSold
25000 USD
CY2021Q2 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
-142000 USD
CY2020Q2 us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
484000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
276000 USD
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
137255 shares
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
294000 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
10000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
20000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
10000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
20000 USD
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
10000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
17000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
11000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
21000 USD
slr Discount Rate
DiscountRate
0.05 pure
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
39000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
36000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
96000 USD
CY2021Q2 slr Less Amount Of Payments Representing Interest
LessAmountOfPaymentsRepresentingInterest
-5000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
91000 USD
slr Proceeds From Options Exercised
ProceedsFromOptionsExercised
83000 USD
CY2021Q2 slr Stock Option Compensation Expense
StockOptionCompensationExpense
44000 USD
slr Stock Option Compensation Expense
StockOptionCompensationExpense
72000 USD
CY2020Q2 slr Stock Option Compensation Expense
StockOptionCompensationExpense
130000 USD
slr Stock Option Compensation Expense
StockOptionCompensationExpense
215000 USD
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
132000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P22Y
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
17000 USD
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
21000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
99000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2021Q2 us-gaap Other Assets
OtherAssets
192000 USD
CY2020Q4 us-gaap Other Assets
OtherAssets
124000 USD
CY2021Q2 slr Paycheck Protection Loan
PaycheckProtectionLoan
70000 USD
us-gaap Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
0.010 pure
slr Forgiveness Of The Ppp Loan
ForgivenessOfThePppLoan
-10000 USD
us-gaap Other Income Disclosure Nonoperating
OtherIncomeDisclosureNonoperating
10,000
slr Issuance Of Shares Atm Net Value
IssuanceOfSharesAtmNetValue
33000 USD
slr Issuance Of Shares Option Exercises Value
IssuanceOfSharesOptionExercisesValue
83000 USD
us-gaap Net Income Loss
NetIncomeLoss
-1196000 USD
slr Purchase Of Shares For Cancellation Value
PurchaseOfSharesForCancellationValue
-4000 USD
CY2020Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4400 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
21100 shares
CY2021Q2 us-gaap Short Term Investments
ShortTermInvestments
5248000 USD
CY2021Q2 us-gaap Marketable Securities
MarketableSecurities
1281000 USD
CY2021Q2 us-gaap Financial Instruments Owned Corporate Equities At Fair Value
FinancialInstrumentsOwnedCorporateEquitiesAtFairValue
9000 USD
CY2021Q2 slr Kinross Call Options
KinrossCallOptions
1 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
5798000 USD
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
1620000 USD
CY2020Q4 us-gaap Financial Instruments Owned Corporate Equities At Fair Value
FinancialInstrumentsOwnedCorporateEquitiesAtFairValue
49000 USD
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
125000 USD
CY2021Q2 us-gaap Prepaid Rent
PrepaidRent
96000 USD
CY2013Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5750000 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5513000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5558000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Discount For Postvesting Restrictions
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions
0.25 pure
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
64750 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
185000 shares
CY2021Q2 slr Exercise Price
ExercisePrice
0.25
slr Exercise Price
ExercisePrice
0.45
CY2021Q2 slr Proceeds From Options Exercised
ProceedsFromOptionsExercised
16000 USD
CY2020Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4000 USD
CY2021Q2 slr Total Shares Repurchased Shares
TotalSharesRepurchasedShares
994000 shares
CY2021Q2 slr Total Shares Repurchased
TotalSharesRepurchased
467000 USD

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