10-Q Filing

RAMACO RESOURCES, INC. CIK: 1687187 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-009004`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	metc-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 12

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.32M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$27.29M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.73M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$15.03M	USD	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$14.19M	USD	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.96M	USD	Point-in-time
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
Prepaid expenses	`PrepaidExpenseCurrent`	$3.15M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.21M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$35.02M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.08M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$156.34M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$149.21M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.83M	shares	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$3.13M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$3.04M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	40.83M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	40.08M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$975.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.01M	USD	Point-in-time
Total Assets	`Assets`	$206.69M	USD	Point-in-time
Total Assets	`Assets`	$188.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.39M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.09M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.12M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$292.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$71.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.00M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$116.00K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$287.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.78M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$12.66M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$12.71M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$13.74M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$4.47M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$1.45M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$109.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$182.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$47.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.80M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,832,890 and 40,082,467 shares issued and outstanding, respectively	`CommonStockValue`	$401.00K	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,832,890 and 40,082,467 shares issued and outstanding, respectively	`CommonStockValue`	$408.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$150.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$113.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$148.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$119.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$141.11M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$206.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$188.24M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$57.46M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$55.94M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$44.33M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$41.01M	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$123.00K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$128.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.44M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.43M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.96M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$49.21M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$50.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.62M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.25M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$489.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$298.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$307.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$100.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.24M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.01M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$743.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.36M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.27M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	40.60M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	39.91M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.14M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.27M	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$123.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$128.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.44M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$48.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$551.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$894.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.34M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$709.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$16.56M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$16.33M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.46M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$842.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$74.00K	USD	1 Quarter
Advanced coal royalties	`IncreaseDecreaseInPrepaidRoyalties`	-	USD	1 Quarter
Advanced coal royalties	`IncreaseDecreaseInPrepaidRoyalties`	$81.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-44.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-144.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.16M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.56M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.56M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.03M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.89M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.44M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.77M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.20M	USD	1 Quarter
Proceeds from maturities of investment securities	`PaymentsForProceedsFromInvestments`	-	USD	1 Quarter
Proceeds from maturities of investment securities	`PaymentsForProceedsFromInvestments`	$-5.20M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.57M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.20M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$6.00M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$26.50M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	-	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$17.25M	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$171.00K	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$220.00K	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$257.00K	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.08M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.52M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.39M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.01M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.32M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.32M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$249.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$57.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$3.17M	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$4.33M	USD	1 Quarter
Financed insurance	`LiabilitiesAssumed1`	-	USD	1 Quarter
Financed insurance	`LiabilitiesAssumed1`	$789.00K	USD	1 Quarter
Additional asset retirement obligations acquired or incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$88.00K	USD	1 Quarter
Additional asset retirement obligations acquired or incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$43.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$113.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$148.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$119.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.11M	USD	Point-in-time
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$551.00K	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$894.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.27M	USD	1 Quarter
Balance	`StockholdersEquity`	$113.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$148.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$119.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.11M	USD	Point-in-time

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