10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001502377-13-000016`
Period End Date	20130930
Filing Date	20131114
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ctgo-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 24 Cash Flow Statement 55 Stockholders Equity 10

Balance Sheet 43 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`	$3.17M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Prepaid Expense and Other Assets, Current	`PrepaidExpenseAndOtherAssetsCurrent`	$102.53K	USD	Point-in-time
Prepaid Expense and Other Assets, Current	`PrepaidExpenseAndOtherAssetsCurrent`	$168.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.49M	USD	Point-in-time
Mineral properties	`MineralPropertiesGross`	$1.21M	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`	$1.21M	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`	$14.56M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$94.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.75M	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,750,394 shares issued and outstanding at September 30, 2013; 3,750,934 shares issued and outstanding at June 30, 2013	`CommonStockValue`	$37.50K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,750,394 shares issued and outstanding at September 30, 2013; 3,750,934 shares issued and outstanding at June 30, 2013	`CommonStockValue`	$37.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$31.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$31.35M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-24.43M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-18.25M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$12.81M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$6.96M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$14.56M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$10.93M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$60.63K	USD	1 Quarter
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$905.00K	USD	16 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$67.61K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$5.53M	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$20.25M	USD	16 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$3.74M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$252.59K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$1.64M	USD	16 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$226.16K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$334.17K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.63M	USD	16 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$202.98K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$6.18M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$4.24M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$24.43M	USD	16 Qtrs
NET LOSS	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-6.18M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-24.43M	USD	16 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$1.71	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$1.65	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$11.72	USD	16 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.75M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.08M	shares	16 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.48M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-24.43M	USD	16 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.14M	USD	16 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$301.31K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$321.18K	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-109.59K	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-34.34K	USD	1 Quarter
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$68.20K	USD	16 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.22M	USD	1 Quarter
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.97M	USD	16 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-769.41K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.39M	USD	16 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.60M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.60M	USD	1 Quarter
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	1 Quarter
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	16 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	1 Quarter
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$225.00K	USD	16 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Acquisition of properties	`PaymentsToAcquireMiningAssets`	-	USD	1 Quarter
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$1.21M	USD	16 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.53M	USD	16 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	1 Quarter
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	1 Quarter
Shareholders contributions	`ProceedsFromContributionsFromParent`	$6.78M	USD	16 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$22.46M	USD	16 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	16 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	16 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.24M	USD	16 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.70M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.32M	USD	16 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.60M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.17M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.17M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	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`	$321.18K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-6.18M	USD	1 Quarter
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	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.