10-Q Filing

RAMACO RESOURCES, INC. CIK: 1687187 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-008599`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	metc-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 68 Stockholders Equity 17

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$993.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$518.88K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.97M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$55.24M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$59.65M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.57M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$914.74K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	39.06M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$2.17M	USD	Point-in-time
Inventory	`InventoryNet`	$1.52M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.08M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$388.92K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$78.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.26M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$63.71M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$46.43M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$5.20M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$5.20M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$2.05M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$2.05M	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	$2.25M	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	-	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$21.84K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$21.35K	USD	Point-in-time
Total Assets	`Assets`	$149.42M	USD	Point-in-time
Total Assets	`Assets`	$119.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.29M	USD	Point-in-time
Distributions payable	`PreferredUnitsDistributionPayableCurrent`	$3.91M	USD	Point-in-time
Distributions payable	`PreferredUnitsDistributionPayableCurrent`	$1.50M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$863.09K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$693.80K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$500.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$43.95K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$127.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.82M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$9.43M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$9.56M	USD	Point-in-time
Note payable - Ramaco Carbon, LLC	`NotesPayableRelatedPartiesNoncurrent`	$10.63M	USD	Point-in-time
Note payable - Ramaco Carbon, LLC	`NotesPayableRelatedPartiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$24.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.42M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A preferred units	`PreferredUnitsPreferredPartnersCapitalAccounts`	-	USD	Point-in-time
Series A preferred units	`PreferredUnitsPreferredPartnersCapitalAccounts`	$88.77M	USD	Point-in-time
Preferred stock, 50,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, 50,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, 260,000,000 shares authorized, 39,062,576 shares outstanding	`CommonStockValue`	-	USD	Point-in-time
Common stock, 260,000,000 shares authorized, 39,062,576 shares outstanding	`CommonStockValue`	$390.63K	USD	Point-in-time
Contributed capital	`PartnersCapital`	$13.27M	USD	Point-in-time
Contributed capital	`PartnersCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$147.62M	USD	Point-in-time
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-18.25M	USD	Point-in-time
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-22.97M	USD	Point-in-time
Total equity	`StockholdersEquity`	$-4.99M	USD	Point-in-time
Total equity	`StockholdersEquity`	$6.66M	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.33M	USD	Point-in-time
Total equity	`StockholdersEquity`	$125.05M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$149.42M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$119.21M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Coal sales	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Coal sales	`SalesRevenueGoodsNet`	$9.85M	USD	1 Quarter
Coal processing	`SalesRevenueServicesNet`	-	USD	1 Quarter
Coal processing	`SalesRevenueServicesNet`	$1.69M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$11.54M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	-	USD	1 Quarter
Cost of coal sales (exclusive of items shown separately below)	`CostOfGoodsSold`	$9.84M	USD	1 Quarter
Cost of coal sales (exclusive of items shown separately below)	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of coal processing (exclusive of items shown separately below)	`CostOfServices`	-	USD	1 Quarter
Cost of coal processing (exclusive of items shown separately below)	`CostOfServices`	$1.01M	USD	1 Quarter
Other operating costs and expenses	`OtherCostAndExpenseOperating`	$71.56K	USD	1 Quarter
Other operating costs and expenses	`OtherCostAndExpenseOperating`	$17.30K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$20.14K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$101.28K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$156.13K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$314.78K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$3.34M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.29M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$400.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.83M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$14.72M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.18M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.83M	USD	1 Quarter
Interest expense	`InterestExpense`	$22.61K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.24K	USD	1 Quarter
Interest and dividend income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Interest and dividend income	`InterestAndDividendIncomeOperating`	$113.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.83M	USD	1 Quarter
Unaudited pro forma basic and fully diluted loss per share (in dollars per share)	`UnauditedBasicAndDilutedEarningsPerShareProForma`	$-0.10	USD	1 Quarter
Unaudited pro forma basic and fully diluted loss per share (in dollars per share)	`UnauditedBasicAndDilutedEarningsPerShareProForma`	$-0.17	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.83M	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$20.14K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$101.28K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$156.13K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	-	USD	1 Quarter
Costs associated with abandoned offering	`NoncashOfferingAbandonmentCosts`	$3.09M	USD	1 Quarter
Costs associated with abandoned offering	`NoncashOfferingAbandonmentCosts`	-	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$2.15M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	-	USD	1 Quarter
Accounts and notes receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$659.46K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$686.90K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-90.99K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$651.67K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$10.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-7.64K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.63M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.17M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.12M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-80.40K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$447.42K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.19M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.83M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.45M	USD	1 Quarter
Proceeds from maturities of investment securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$10.50M	USD	1 Quarter
Proceeds from maturities of investment securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	-	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireHeldToMaturitySecurities`	$14.91M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.86M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.83M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$47.71M	USD	1 Quarter
Payment of equity offering costs	`PaymentsForEquityOfferingCosts`	$1.76M	USD	1 Quarter
Payment of equity offering costs	`PaymentsForEquityOfferingCosts`	-	USD	1 Quarter
Advances from Ramaco Carbon, LLC	`ProceedsFromRelatedPartyDebt`	$490.30K	USD	1 Quarter
Advances from Ramaco Carbon, LLC	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Repayments to Ramaco Carbon, LLC	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Repayments to Ramaco Carbon, LLC	`RepaymentsOfRelatedPartyDebt`	$10.63M	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$79.79K	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$91.22K	USD	1 Quarter
Payment of distributions	`PaymentsOfCapitalDistribution`	$3.91M	USD	1 Quarter
Payment of distributions	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter
Payment of note payable	`RepaymentsOfNotesPayable`	$500.00K	USD	1 Quarter
Payment of note payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Contributed capital from existing member	`ProceedsFromContributedCapital`	$500.00K	USD	1 Quarter
Contributed capital from existing member	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.83M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$910.52K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-474.75K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.77M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$993.63K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$518.88K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.97M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$993.63K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$518.88K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.97M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$81.09K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.24K	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.79M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Additional retirement obligations acquired or incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$193.22K	USD	1 Quarter
Additional retirement obligations acquired or incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	-	USD	1 Quarter
Accretion - Series A preferred units	`PartnersCapitalAccountAccretionOfPreferredUnits`	-	USD	1 Quarter
Accretion - Series A preferred units	`PartnersCapitalAccountAccretionOfPreferredUnits`	$123.83K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$125.05M	USD	Point-in-time
Contribution from existing member	`ContributionFromExistingMembers`	$500.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.83M	USD	1 Quarter
Balance	`StockholdersEquity`	$-4.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$125.05M	USD	Point-in-time
Accretion - Series A preferred units	`AccretionseriesAPreferredUnits`	$-123.83K	USD	1 Quarter
Accrued distributions on Series A preferred units	`AccruedDistributionsOnSeriesAPreferredUnits`	$1.50M	USD	1 Quarter
Issuance of common stock in Reorganization	`StockIssuedDuringPeriodInReorganizationValueNewIssues`	-	USD	1 Quarter
Conversion of Series A preferred units into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$88.90M	USD	1 Quarter
Proceeds from sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$43.71M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.15M	USD	1 Quarter

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