10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001502377-13-000007`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	ctgo-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 45 Cash Flow Statement 54 Stockholders Equity 23

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$64.66K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$138.03K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.90M	USD	Point-in-time
Mineral properties	`MineralPropertiesGross`	$1.01M	USD	Point-in-time
Mineral properties	`MineralPropertiesGross`	$1.21M	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`MineralPropertiesAccumulatedDepletion`	-	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`MineralPropertiesAccumulatedDepletion`	-	USD	Point-in-time
Total property and equipment, net	`MineralPropertiesNet`	$1.01M	USD	Point-in-time
Total property and equipment, net	`MineralPropertiesNet`	$1.21M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$225.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$225.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.14M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$821.37K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$73.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.37K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,750,394 shares issued and outstanding at March 31, 2013; 2,480,269 shares issued and outstanding at June 30, 2012	`CommonStockValue`	$24.80K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,750,394 shares issued and outstanding at March 31, 2013; 2,480,269 shares issued and outstanding at June 30, 2012	`CommonStockValue`	$37.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.53M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-14.12M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-8.22M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$16.62M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$3.40M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$2.90M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$7.34M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$17.44M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$9.14M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$803.90K	USD	14 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$31.68K	USD	1 Quarter
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$130.97K	USD	3 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$258.79K	USD	3 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$87.34K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$37.56K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$246.73K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$4.45M	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$1.74M	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$11.10M	USD	14 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	$12.14K	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$22.84K	USD	3 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	-	USD	3 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	$146.55K	USD	14 Qtrs
Other operating expenses	`OtherCostAndExpenseOperating`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$1.11M	USD	14 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$38.45K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$154.43K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$127.54K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$858.16K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$464.12K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$953.84K	USD	14 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$95.08K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$67.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$212.98K	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$14.12M	USD	14 Qtrs
Total expenses	`CostsAndExpenses`	$2.39M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$243.08K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$501.03K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$5.90M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-501.03K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.90M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-243.08K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.39M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-14.12M	USD	14 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.32	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.49	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-7.64	USD	14 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.85M	shares	14 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.60M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.64M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.64M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.54M	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-501.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.90M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-243.08K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.39M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.12M	USD	14 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.15M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$200.73K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	14 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-73.37K	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$64.66K	USD	14 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.94K	USD	3 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-980.29K	USD	3 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$821.37K	USD	14 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-166.96K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.65M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.35M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.87M	USD	14 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$150.00K	USD	3 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	3 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$225.00K	USD	14 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$200.00K	USD	3 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$1.21M	USD	14 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	14 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-200.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-150.00K	USD	3 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	3 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	$6.78M	USD	14 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$22.47M	USD	14 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$8.43M	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$14.03M	USD	3 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	3 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	14 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	14 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.03M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.25M	USD	14 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.43M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.94M	USD	14 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.93M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.18M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$8.33M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.34M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.75M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$301.31K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$185.52K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$664.54K	USD	1 Quarter
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	`ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod`	39,126.00	shares	1 Quarter
Shares vested	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Issuance of new shares, net	`StockIssuedDuringPeriodValueNewIssues`	$9.94M	USD	1 Quarter
Adjustments to Additional Paid in Capital, Warrant Issued	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$4.83M	USD	1 Quarter
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-738.09K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.16M	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-4.24M	USD	3 Qtrs
Net loss for the period	`ProfitLoss`	$-501.03K	USD	1 Quarter
Balance	`StockholdersEquity`	$16.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.34M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.75M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time

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