10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-002068`
Period End Date	20181231
Filing Date	20190207
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	ctgo-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 28 Cash Flow Statement 34 Stockholders Equity 11

Balance Sheet 40 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.82M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.43M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$155.67K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$106.66K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.15M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.36M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.36M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.97M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.15M	shares	Point-in-time
Investment in Peak Gold, LLC (Note 4)	`EquityMethodInvestments`	-	USD	Point-in-time
Investment in Peak Gold, LLC (Note 4)	`EquityMethodInvestments`	-	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$13.97M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.19K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$245.21K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$54.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$64.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$256.40K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 6,357,113 shares issued and outstanding at December 31, 2018; 6,153,266 shares issued and outstanding at June 30, 2018	`CommonStockValue`	$61.53K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 6,357,113 shares issued and outstanding at December 31, 2018; 6,153,266 shares issued and outstanding at June 30, 2018	`CommonStockValue`	$63.57K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$56.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$54.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.07M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$13.71M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$10.47M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$10.53M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$13.97M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.10M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.48M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$808.34K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.48M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$808.34K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.10M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.10M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$58.02K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$116.05K	USD	2 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-840.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-2.79M	USD	2 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-808.34K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.77	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.26M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.65M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.29M	shares	2 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.21M	shares	2 Qtrs

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-808.34K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.53M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$998.12K	USD	2 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-840.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-2.79M	USD	2 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-49.01K	USD	2 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-50.23K	USD	2 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.50K	USD	2 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-191.42K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-435.13K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-592.57K	USD	2 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$2.79M	USD	2 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	-	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.79M	USD	2 Qtrs
Cash from warrant exercises and capital raise, net	`ProceedsFromIssuanceOrSaleOfEquity`	$11.07M	USD	2 Qtrs
Cash from warrant exercises and capital raise, net	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.07M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.38M	USD	2 Qtrs
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.63M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.82M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.82M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.47M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.53M	USD	2 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	2 Qtrs
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.48M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-808.34K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.47M	USD	Point-in-time

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