10-K Filing

Contango ORE, Inc. CIK: 1502377 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001437749-20-020272`
Period End Date	20200630
Filing Date	20200925
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	ctgo-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 20 Cash Flow Statement 28 Stockholders Equity 14

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.60M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$161.19K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$72.24K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.36M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.59M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.08M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.56M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.36M	shares	Point-in-time
Investment in Peak Gold, LLC (NOTE 8)	`EquityMethodInvestments`	-	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	32,874.00	shares	Point-in-time
Investment in Peak Gold, LLC (NOTE 8)	`EquityMethodInvestments`	-	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$8.76M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$83.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.41K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$347.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$419.29K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, 15,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, 15,000,000 shares authorized	`PreferredStockValue`	-	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 June 30, 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 June 30, 2020; 6,357,113 shares issued and outstanding at June 30, 2019;	`CommonStockValue`	$65.90K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$61.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.94M	USD	Point-in-time
Treasury stock at cost (32,874 shares at June 30, 2020; and 0 at June 30, 2019)	`TreasuryStockValue`	-	USD	Point-in-time
Treasury stock at cost (32,874 shares at June 30, 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`	$-58.90M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$13.71M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$1.99M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$8.34M	USD	Point-in-time
TOTAL LIABILITIES AND MEMBERS EQUITY	`LiabilitiesAndStockholdersEquity`	$3.08M	USD	Point-in-time
TOTAL LIABILITIES AND MEMBERS EQUITY	`LiabilitiesAndStockholdersEquity`	$8.76M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.59M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.44M	USD	Annual
Total expenses	`CostsAndExpenses`	$5.59M	USD	Annual
Total expenses	`CostsAndExpenses`	$4.44M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$74.95K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$224.71K	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.72M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-4.14M	USD	Annual
Total other income/(expense)	`NonoperatingIncomeExpense`	$-3.65M	USD	Annual
Total other income/(expense)	`NonoperatingIncomeExpense`	$-3.92M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.24M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.36M	USD	Annual
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-8.36M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-9.24M	USD	Annual
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.33	USD	Annual
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.43	USD	Annual
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.48M	shares	Annual
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.28M	shares	Annual

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.24M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.99M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.37M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.72M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-4.14M	USD	Annual
Decrease/(increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$5.52K	USD	Annual
Decrease/(increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-88.95K	USD	Annual
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$670.11K	USD	Annual
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$162.88K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.39M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	Annual
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$4.14M	USD	Annual
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.72M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.72M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.14M	USD	Annual
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$476.67K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-476.67K	USD	Annual
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.59M	USD	Annual
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.21M	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.81M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.01M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.81M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.01M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.99M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.37M	USD	Annual
Restricted shares activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Restricted shares activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-8.36M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-9.24M	USD	Annual
Treasury stock activity	`TreasuryStockValueAcquiredCostMethod`	$476.67K	USD	Annual
Balance	`StockholdersEquity`	$13.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.34M	USD	Point-in-time

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