10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-221990`
Period End Date	20120331
Filing Date	20120509
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	ctgo-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 56 Cash Flow Statement 44 Stockholders Equity 19

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$78.16K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.57M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.48M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$73.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.47M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.57M	shares	Point-in-time
Mineral properties	`MineralPropertiesGross`	$1.01M	USD	Point-in-time
Mineral properties	`MineralPropertiesGross`	$1.01M	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`MineralPropertiesAccumulatedDepletion`	-	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`MineralPropertiesAccumulatedDepletion`	-	USD	Point-in-time
Total property, plant and equipment, net	`MineralPropertiesNet`	$1.01M	USD	Point-in-time
Total property, plant and equipment, net	`MineralPropertiesNet`	$1.01M	USD	Point-in-time
Other	`OtherAssetsMiscellaneousNoncurrent`	$225.00K	USD	Point-in-time
Other	`OtherAssetsMiscellaneousNoncurrent`	$75.00K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$225.00K	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$75.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.56M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$488.36K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$285.16K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$192.65K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$156.41K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$644.76K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$477.81K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized, 2,480,269 and 1,566,467 shares issued and outstanding at March 31, 2012 and June 30, 2011, respectively	`CommonStockValue`	$24.80K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized, 2,480,269 and 1,566,467 shares issued and outstanding at March 31, 2012 and June 30, 2011, respectively	`CommonStockValue`	$15.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.48M	USD	Point-in-time
Accumulated deficit during exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$6.34M	USD	Point-in-time
Accumulated deficit during exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$3.96M	USD	Point-in-time
SHAREHOLDERS' EQUITY	`StockholdersEquity`	$9.16M	USD	Point-in-time
SHAREHOLDERS' EQUITY	`StockholdersEquity`	$2.91M	USD	Point-in-time
SHAREHOLDERS' EQUITY	`StockholdersEquity`	$1.36M	USD	Point-in-time
SHAREHOLDERS' EQUITY	`StockholdersEquity`	$919.99K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.56M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.64M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Delay rentals and minimum royalties	`DelayRentals`	$101.94K	USD	3 Qtrs
Delay rentals and minimum royalties	`DelayRentals`	$258.79K	USD	3 Qtrs
Delay rentals and minimum royalties	`DelayRentals`	$29.28K	USD	1 Quarter
Delay rentals and minimum royalties	`DelayRentals`	$87.34K	USD	1 Quarter
Delay rentals and minimum royalties	`DelayRentals`	$732.91K	USD	10 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$37.56K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$952.73K	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$4.89M	USD	10 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$1.74M	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$24.24K	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$12.14K	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$82.36K	USD	3 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	$140.49K	USD	10 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	$22.84K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$38.45K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$27.29K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$218.11K	USD	10 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$36.39K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$154.43K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$125.34K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$59.59K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$212.98K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$365.46K	USD	10 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$67.58K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.30M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$243.08K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.39M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$6.34M	USD	10 Qtrs
Total expenses	`CostsAndExpenses`	$140.39K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-243.08K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-492.48K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-1.65M	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-6.34M	USD	10 Qtrs
NET LOSS	`ProfitLoss`	$-2.39M	USD	3 Qtrs
NET LOSS	`ProfitLoss`	$-1.30M	USD	3 Qtrs
NET LOSS	`ProfitLoss`	$-140.39K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.49	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-4.03	USD	10 Qtrs
Basic	`EarningsPerShareBasic`	$-0.83	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-4.03	USD	10 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.83	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.49	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.64M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.60M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.57M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.57M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.58M	shares	10 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.60M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.64M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.57M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.57M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.58M	shares	10 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-243.08K	USD	1 Quarter
Net loss	`ProfitLoss`	$-492.48K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.65M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.34M	USD	10 Qtrs
Net loss	`ProfitLoss`	$-2.39M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-1.30M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-140.39K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$213.94K	USD	10 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$48.52K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$200.73K	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$73.21K	USD	10 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-31.89K	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.94K	USD	3 Qtrs
Increase (decrease) in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$477.81K	USD	10 Qtrs
Increase (decrease) in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-166.96K	USD	3 Qtrs
Increase (decrease) in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-504.30K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.35M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.72M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.72M	USD	10 Qtrs
Acquisition of other assets	`PaymentsToAcquireRoyaltyInterestsInMiningProperties`	$225.00K	USD	10 Qtrs
Acquisition of other assets	`PaymentsToAcquireRoyaltyInterestsInMiningProperties`	$150.00K	USD	3 Qtrs
Acquisition of properties	`PaymentsToAcquireMineralRights`	$1.01M	USD	10 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.23M	USD	10 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-150.00K	USD	3 Qtrs
Shareholder's contributions	`ProceedsFromContributionsFromParent`	$6.81M	USD	10 Qtrs
Shareholder's contributions	`ProceedsFromContributionsFromParent`	$4.95M	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$8.43M	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$8.48M	USD	10 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	3 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	10 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	10 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.95M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.43M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.29M	USD	10 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.23M	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.33M	USD	10 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.93M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.23M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$9.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$919.99K	USD	Point-in-time
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$8.43M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.48K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$99.78K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.48K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-243.08K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-492.48K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.65M	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-6.34M	USD	10 Qtrs
Net loss for the period	`ProfitLoss`	$-2.39M	USD	3 Qtrs
Net loss for the period	`ProfitLoss`	$-1.30M	USD	3 Qtrs
Net loss for the period	`ProfitLoss`	$-140.39K	USD	1 Quarter
Balance	`StockholdersEquity`	$9.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$919.99K	USD	Point-in-time

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