10-Q/A Filing

TEXAS GULF ENERGY INC CIK: 1429627 Q2 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-12-045543`
Period End Date	20120630
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	txge-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 60 Cash Flow Statement 50

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.36K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.31M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.85M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	48.05M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.40M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.31M	shares	Point-in-time
Federal taxes receivable	`IncomeTaxReceivable`	$85.80K	USD	Point-in-time
Federal taxes receivable	`IncomeTaxReceivable`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	48.05M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$130.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$130.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$985.45K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$875.33K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.16M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.79M	USD	Point-in-time
Goodwill and other assets	`GoodwillAndOtherAssets`	-	USD	Point-in-time
Goodwill and other assets	`GoodwillAndOtherAssets`	$1.30M	USD	Point-in-time
Total assets	`Assets`	$8.35M	USD	Point-in-time
Total assets	`Assets`	$11.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$201.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$192.88K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.94M	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$1.43M	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$105.29K	USD	Point-in-time
Federal income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Federal income taxes payable	`AccruedIncomeTaxesCurrent`	$455.00K	USD	Point-in-time
Lines of Credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Lines of Credit	`LinesOfCreditCurrent`	$2.19M	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$169.81K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.69M	USD	Point-in-time
Convertible debt	`ConvertibleDebtNoncurrent`	$1.50M	USD	Point-in-time
Convertible debt	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Deferred federal income tax	`DeferredTaxLiabilitiesNoncurrent`	$29.00K	USD	Point-in-time
Deferred federal income tax	`DeferredTaxLiabilitiesNoncurrent`	$29.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.22M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $.00001 par value; 500,000,000 shares authorized; 48,053,855 shares issued and outstanding as of June 30, 2012, and 39,307,554 December 31, 2011	`CommonStockValue`	$481.00	USD	Point-in-time
Common stock - $.00001 par value; 500,000,000 shares authorized; 48,053,855 shares issued and outstanding as of June 30, 2012, and 39,307,554 December 31, 2011	`CommonStockValue`	$393.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$2.91M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$385.21K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$120.95K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.85M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.35M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$14.10M	USD	2 Qtrs
Revenues	`Revenues`	$8.26M	USD	1 Quarter
Revenues	`Revenues`	$17.33M	USD	2 Qtrs
Revenues	`Revenues`	$8.38M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$12.44M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$13.17M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$6.06M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$7.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.16M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.34M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.49M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.24M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.60M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$582.59K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-394.07K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$759.57K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$421.18K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-333.12K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$200.00	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$682.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$682.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.15K	USD	2 Qtrs
Interest expense	`InterestExpense`	$67.03K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$72.46K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncome`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncome`	$-953.00	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncome`	$-66.35K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncome`	$-71.77K	USD	2 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$759.57K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-460.42K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-404.89K	USD	2 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$420.23K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$154.50K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-140.64K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-115.81K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$154.50K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-344.61K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$605.06K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$265.72K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-264.25K	USD	2 Qtrs
Basic (in dollos per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic (in dollos per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in dollos per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in dollos per share)	`EarningsPerShareBasic`	$0.01	USD	2 Qtrs
Diluted (in dollors per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in dollors per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in dollors per share)	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs
Diluted (in dollors per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	45.73M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	47.25M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	29.41M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	29.41M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.41M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.25M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.73M	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-344.61K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$605.06K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$265.72K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-264.25K	USD	2 Qtrs
Depreciation	`Depreciation`	$53.01K	USD	2 Qtrs
Depreciation	`Depreciation`	$219.61K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$427.17K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Change in accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$-167.38K	USD	2 Qtrs
Change in accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$1.60M	USD	2 Qtrs
Change in federal income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$540.80K	USD	2 Qtrs
Change in federal income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.61M	USD	2 Qtrs
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$71.93K	USD	2 Qtrs
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$303.59K	USD	2 Qtrs
Change in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.93M	USD	2 Qtrs
Change in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-23.02K	USD	2 Qtrs
Change in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$31.73K	USD	2 Qtrs
Change in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$931.91K	USD	2 Qtrs
Change in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-2.18M	USD	2 Qtrs
Change in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-1.38M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.43M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$701.93K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$617.18K	USD	2 Qtrs
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$371.02K	USD	2 Qtrs
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-988.20K	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Payment of notes payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Payment of notes payable	`RepaymentsOfNotesPayable`	$199.89K	USD	2 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	$93.42K	USD	2 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	-	USD	2 Qtrs
Lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.80M	USD	2 Qtrs
Lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.60M	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$93.42K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-818.65K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$795.35K	USD	2 Qtrs
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$245.36K	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$245.36K	USD	Point-in-time
Federal income tax	`IncomeTaxesPaidNet`	$194.41K	USD	2 Qtrs
Federal income tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Interest expense	`InterestPaid`	$1.15K	USD	2 Qtrs
Interest expense	`InterestPaid`	$72.46K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.