10-Q/A Filing

TEXAS GULF ENERGY INC CIK: 1429627 Q3 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-13-038328`
Period End Date	20120930
Filing Date	20130705
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	txge-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 60 Cash Flow Statement 67

Balance Sheet 63 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`	$245.36K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$182.62K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$625.54K	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 issued	`CommonStockSharesIssued`	39.31M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.23M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.40M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.89M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.31M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$130.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.23M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$130.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Federal income tax receivable	`IncomeTaxesReceivable`	$176.39K	USD	Point-in-time
Federal income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$875.33K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$602.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$191.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.56M	USD	Point-in-time
Goodwill and other assets	`GoodwillAndOtherAssets`	-	USD	Point-in-time
Goodwill and other assets	`GoodwillAndOtherAssets`	$942.23K	USD	Point-in-time
Total assets	`Assets`	$8.35M	USD	Point-in-time
Total assets	`Assets`	$5.31M	USD	Point-in-time
Total assets	`Assets`	$8.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$201.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$765.54K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.94M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.07M	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$190.46K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$1.43M	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`	$1.84M	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$145.81K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.03M	USD	Point-in-time
Convertible debt	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Convertible debt	`ConvertibleDebtNoncurrent`	$1.50M	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`	$5.54M	USD	Point-in-time
Common stock - $.00001 par value; 500,000,000 shares authorized; 47,227,006 shares issued and outstanding as of September 30, 2012, and 39,307,554 December 31, 2011	`CommonStockValue`	$472.00	USD	Point-in-time
Common stock - $.00001 par value; 500,000,000 shares authorized; 47,227,006 shares issued and outstanding as of September 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`	$3.03M	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$385.21K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-95.49K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.29M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.48M	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`	$8.08M	USD	1 Quarter
Revenues	`Revenues`	$25.41M	USD	3 Qtrs
Revenues	`Revenues`	$8.88M	USD	1 Quarter
Revenues	`Revenues`	$22.98M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$19.14M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$6.70M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$6.57M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$19.74M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.84M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.67M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$6.67M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.19M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.43M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$986.33K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.41M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-998.10K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-664.98K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$404.82K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$405.50K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.04K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$845.00	USD	1 Quarter
Interest income (expense)	`InterestExpense`	$16.63K	USD	1 Quarter
Interest income (expense)	`InterestExpense`	$12.06K	USD	3 Qtrs
Interest income (expense)	`InterestExpense`	$10.90K	USD	1 Quarter
Interest income (expense)	`InterestExpense`	$89.09K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncome`	$-10.06K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncome`	$316.42K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncome`	$-11.01K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncome`	$388.19K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-681.68K	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.40M	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$976.27K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-276.79K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$377.96K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-60.34K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-200.99K	USD	3 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$532.46K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-480.69K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$864.04K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-216.44K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$598.31K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	47.31M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.85M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	29.41M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	29.41M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.31M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.41M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.85M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-480.69K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$864.04K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-216.44K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$598.31K	USD	1 Quarter
Depreciation	`Depreciation`	$75.38K	USD	3 Qtrs
Depreciation	`Depreciation`	$377.00K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$900.75K	USD	3 Qtrs
Bad debt	`ProvisionForDoubtfulAccounts`	$145.56K	USD	3 Qtrs
Bad debt	`ProvisionForDoubtfulAccounts`	-	USD	3 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$43.19K	USD	3 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	3 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	$348.00K	USD	3 Qtrs
Gain on sale of business	`GainLossOnSaleOfBusiness`	$348.00K	USD	Point-in-time
Change in accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$2.26M	USD	3 Qtrs
Change in accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$-132.76K	USD	3 Qtrs
Change in federal income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.30M	USD	3 Qtrs
Change in federal income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	3 Qtrs
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$208.80K	USD	3 Qtrs
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-175.45K	USD	3 Qtrs
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	3 Qtrs
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$63.00K	USD	3 Qtrs
Change in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-111.02K	USD	3 Qtrs
Change in accounts payable	`IncreaseDecreaseInAccountsPayable`	$553.72K	USD	3 Qtrs
Change in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.97M	USD	3 Qtrs
Change in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.16M	USD	3 Qtrs
Change in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-1.13M	USD	3 Qtrs
Change in due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-1.29M	USD	3 Qtrs
Changes in federal income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$568.80K	USD	3 Qtrs
Changes in federal income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-631.39K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.63M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$335.15K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$891.51K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$246.00	USD	3 Qtrs
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$371.02K	USD	3 Qtrs
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	3 Qtrs
Disposal of business	`GainLossOnInvestments`	-	USD	3 Qtrs
Disposal of business	`GainLossOnInvestments`	$-12.66K	USD	3 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$90.38K	USD	3 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.16M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-246.00	USD	3 Qtrs
Payments of notes payable	`RepaymentsOfNotesPayable`	$223.89K	USD	3 Qtrs
Payments of notes payable	`RepaymentsOfNotesPayable`	-	USD	3 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	$45.27K	USD	3 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	-	USD	3 Qtrs
Line of credit, net	`ProceedsFromLinesOfCredit`	$1.45M	USD	3 Qtrs
Line of credit, net	`ProceedsFromLinesOfCredit`	-	USD	3 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.27K	USD	3 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.22M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$380.18K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.57M	USD	3 Qtrs
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$245.36K	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$182.62K	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$625.54K	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$182.62K	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$245.36K	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$625.54K	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Federal income tax	`IncomeTaxesPaidNet`	$-1.47M	USD	3 Qtrs
Federal income tax	`IncomeTaxesPaidNet`	$194.41K	USD	3 Qtrs
Interest expense	`InterestPaid`	$12.06K	USD	3 Qtrs
Interest expense	`InterestPaid`	$89.09K	USD	3 Qtrs
State income tax	`IncomeTaxesPaid`	$40.81K	USD	3 Qtrs
State income tax	`IncomeTaxesPaid`	-	USD	3 Qtrs

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