10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-001903`
Period End Date	20191231
Filing Date	20200206
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	ctgo-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 28 Cash Flow Statement 30 Stockholders Equity 23

Balance Sheet 43 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`	$5.35M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.43M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$150.43K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.36M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.52M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$161.19K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.51M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.36M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.76M	USD	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	`PreferredStockValue`	-	USD	Point-in-time
Total other assets	`PreferredStockValue`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.76M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$164.13K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.41K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$155.12K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$347.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$419.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$319.25K	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; 6,515,113 shares issued and outstanding at December 31, 2019; 6,357,113 shares issued and outstanding at June 30, 2019	`CommonStockValue`	$63.57K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 6,515,113 shares issued and outstanding at December 31, 2019; 6,357,113 shares issued and outstanding at June 30, 2019	`CommonStockValue`	$65.15K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$59.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.44M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$13.71M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$8.34M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$10.47M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$5.19M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$5.51M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$8.76M	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`	$1.10M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.15M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.14M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$1.10M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.15M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.10M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$2.14M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$62.07K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$22.41K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$116.05K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$58.02K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-2.70M	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`	$-1.80M	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-2.79M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.78M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.75	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.45	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.77	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.21M	shares	2 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.44M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.26M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.40M	shares	2 Qtrs

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.78M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.53M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.62M	USD	2 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-2.70M	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`	$-1.80M	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-2.79M	USD	2 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-10.76K	USD	2 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-49.01K	USD	2 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-191.42K	USD	2 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-100.04K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-592.57K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-545.82K	USD	2 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$2.79M	USD	2 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$2.70M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.70M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.79M	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.25M	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.38M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.35M	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`	$10.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.35M	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`	$10.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.19M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.53M	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.62M	USD	2 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	2 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-4.78M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.53M	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.62M	USD	2 Qtrs
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-4.77M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.89M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-4.78M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.19M	USD	Point-in-time

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