10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-009655`
Period End Date	20190331
Filing Date	20190513
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	ctgo-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 28 Cash Flow Statement 34 Stockholders Equity 11

Balance Sheet 41 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, 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.65M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$197.58K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$155.67K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.36M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.15M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$13.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.98M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.15M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.36M	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`	$9.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$151.68K	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`	$64.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$215.86K	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 March 31, 2019; 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 March 31, 2019; 6,153,266 shares issued and outstanding at June 30, 2018	`CommonStockValue`	$63.57K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$54.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.30M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$13.71M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$9.76M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$13.97M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$9.98M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
General and administrative expense	`GeneralAndAdministrativeExpense`	$3.17M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$906.28K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.38M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.07M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$3.17M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$906.28K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.38M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$171.28K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$55.23K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-420.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	-	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-3.21M	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.38M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-906.28K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.43	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.52M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.36M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.26M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.00M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.38M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-906.28K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.26M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.73M	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-420.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	-	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.21M	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$12.99K	USD	3 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$41.91K	USD	3 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-80.31K	USD	3 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-40.54K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-823.33K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-746.46K	USD	3 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.21M	USD	3 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	-	USD	3 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.21M	USD	3 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Cash from warrant exercises and capital raise, net	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Cash from warrant exercises and capital raise, net	`ProceedsFromIssuanceOrSaleOfEquity`	$12.20M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.20M	USD	3 Qtrs
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.45M	USD	3 Qtrs
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.03M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$16.65M	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, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$16.65M	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
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	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`	$9.76M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.26M	USD	3 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	3 Qtrs
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-2.38M	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-906.28K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.76M	USD	Point-in-time

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