10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-009591`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	ctgo-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 28 Cash Flow Statement 34 Stockholders Equity 28

Balance Sheet 49 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`	$8.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.59M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$252.18K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.59M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$161.19K	USD	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`	$3.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.76M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.56M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	32,874.00	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	0.00	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	`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`	$3.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.17K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.41K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$178.50K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$347.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$419.29K	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; 6,590,113 shares issued and 6,557,239 outstanding at March 31, 2020; 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; 6,590,113 shares issued and 6,557,239 outstanding at March 31, 2020; 6,357,113 shares issued and outstanding at June 30, 2019	`CommonStockValue`	$65.90K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$60.42M	USD	Point-in-time
Treasury stock at cost (32,874 shares at March 31, 2020; and 0 at June 30, 2019)	`TreasuryStockValue`	-	USD	Point-in-time
Treasury stock at cost (32,874 shares at March 31, 2020; and 0 at June 30, 2019)	`TreasuryStockValue`	$476.67K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.35M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$13.71M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$3.66M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$5.19M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$8.34M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$9.76M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$10.47M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$3.85M	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`	$1.32M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$3.17M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$3.46M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$3.46M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$1.07M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$3.17M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$1.32M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$171.28K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.80K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$55.23K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$73.87K	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`	$-600.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-3.30M	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC (Note 4)	`IncomeLossFromEquityMethodInvestments`	$-420.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-6.69M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.04	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.55M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.26M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.36M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.45M	shares	3 Qtrs

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.69M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.49M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.26M	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`	$-600.00K	USD	1 Quarter
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.30M	USD	3 Qtrs
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-420.00K	USD	1 Quarter
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$90.99K	USD	3 Qtrs
Decrease in prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$41.91K	USD	3 Qtrs
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-234.61K	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`	$-1.23M	USD	3 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.21M	USD	3 Qtrs
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.30M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.21M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.30M	USD	3 Qtrs
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$476.67K	USD	3 Qtrs
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-476.67K	USD	3 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.03M	USD	3 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.01M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.78M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.81M	USD	Point-in-time

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.47M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$724.97K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$862.12K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.49M	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.26M	USD	3 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	3 Qtrs
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Restricted stock activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	3 Qtrs
Treasury shares withheld for employee taxes	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$476.67K	USD	1 Quarter
Treasury shares withheld for employee taxes	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$476.67K	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-6.69M	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-6.21M	USD	3 Qtrs
Stock option exercises (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-	shares	3 Qtrs
Stock option exercises (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	1 Quarter
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	3 Qtrs
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.76M	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.