10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001502377-14-000002`
Period End Date	20131231
Filing Date	20140207
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	mcf-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 41 Cash Flow Statement 60 Stockholders Equity 15

Balance Sheet 44 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`	2.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.81M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.81M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.53M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.38M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
Prepaid Expense, Current	`PrepaidExpenseCurrent`	$102.53K	USD	Point-in-time
Prepaid Expense, Current	`PrepaidExpenseCurrent`	$149.68K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.13M	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`	$5.96M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.03K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$94.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$148.34K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,805,539 shares issued and outstanding at December 31, 2013; 3,750,394 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; 3,805,539 shares issued and outstanding at December 31, 2013; 3,750,394 shares issued and outstanding at June 30, 2013	`CommonStockValue`	$38.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$31.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$31.82M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-26.04M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-18.25M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$5.82M	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`	$5.96M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$14.56M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$100.24K	USD	2 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$31.68K	USD	1 Quarter
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$39.61K	USD	1 Quarter
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$944.61K	USD	17 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$99.29K	USD	2 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$6.52M	USD	2 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$4.20M	USD	2 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$21.24M	USD	17 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$988.73K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$459.24K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$730.62K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$566.80K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$314.20K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$504.46K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$1.96M	USD	17 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$369.05K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$605.13K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$270.96K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.90M	USD	17 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$166.07K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$5.40M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$7.79M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$1.16M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$26.04M	USD	17 Qtrs
Total expenses	`CostsAndExpenses`	$1.61M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.40M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-26.04M	USD	16 Qtrs
NET LOSS	`NetIncomeLoss`	$-26.04M	USD	17 Qtrs
NET LOSS	`NetIncomeLoss`	$-7.79M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$11.92	USD	17 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.43	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$2.07	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$2.17	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.46	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.76M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.77M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.18M	shares	17 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.49M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.50M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.40M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-26.04M	USD	16 Qtrs
Net loss	`NetIncomeLoss`	$-26.04M	USD	17 Qtrs
Net loss	`NetIncomeLoss`	$-7.79M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$965.85K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.61M	USD	16 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$793.74K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-47.80K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$149.68K	USD	16 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$47.15K	USD	2 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.60M	USD	2 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.65M	USD	2 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$148.34K	USD	16 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.43M	USD	16 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.65M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.03M	USD	2 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	16 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	2 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	2 Qtrs
Proceeds from Collection of Notes Receivable	`ProceedsFromCollectionOfNotesReceivable`	$100.00K	USD	17 Qtrs
Proceeds from Collection of Notes Receivable	`ProceedsFromCollectionOfNotesReceivable`	$100.00K	USD	2 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$225.00K	USD	16 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	2 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	2 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	-	USD	2 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$1.21M	USD	16 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$200.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-200.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	16 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	2 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	$6.78M	USD	16 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	2 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$22.46M	USD	16 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	16 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	16 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.24M	USD	16 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.38M	USD	16 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.23M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.65M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.53M	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`	$4.38M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.53M	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`	$4.38M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.81M	shares	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$472.56K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$321.18K	USD	1 Quarter
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	`ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod`	55,145.00	shares	1 Quarter
Net loss for the period	`ProfitLoss`	$-6.18M	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.61M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.81M	shares	Point-in-time

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