10-Q Filing

Contango ORE, Inc. CIK: 1502377 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001502377-14-000006`
Period End Date	20140331
Filing Date	20140513
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	mcf-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 39 Cash Flow Statement 58 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`	3.81M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.81M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.94M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.03M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
Prepaid Expense, Current	`PrepaidExpenseCurrent`	$102.53K	USD	Point-in-time
Prepaid Expense, Current	`PrepaidExpenseCurrent`	$94.77K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.04M	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`	$5.47M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$97.64K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$94.29K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$45.18K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.82K	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; 3,805,539 shares issued and outstanding at March 31, 2014; 3,750,394 shares issued and outstanding at June 30, 2013	`CommonStockValue`	$38.05K	USD	Point-in-time
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,805,539 shares issued and outstanding at March 31, 2014; 3,750,394 shares issued and outstanding at June 30, 2013	`CommonStockValue`	$37.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$32.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$31.03M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-18.25M	USD	Point-in-time
Accumulated deficit during exploration stage	`RetainedEarningsAccumulatedDeficit`	$-26.72M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$6.96M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$5.82M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$5.33M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$12.81M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$5.47M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$14.56M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$139.82K	USD	3 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$31.68K	USD	1 Quarter
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$984.19K	USD	18 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$130.97K	USD	3 Qtrs
Claim rentals and minimum royalties	`CarryingCostsPropertyAndExplorationRights`	$39.58K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$6.73M	USD	3 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$214.60K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$246.73K	USD	1 Quarter
Exploration expenses	`ExplorationExpenseMining`	$21.45M	USD	18 Qtrs
Exploration expenses	`ExplorationExpenseMining`	$4.45M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$122.95K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$2.08M	USD	18 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$127.54K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensationExpense`	$689.75K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensationExpense`	$858.16K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$907.53K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$302.40K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.21M	USD	18 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$464.12K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$95.08K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$501.03K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$679.52K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$26.72M	USD	18 Qtrs
Total expenses	`CostsAndExpenses`	$8.47M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$5.90M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-8.47M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-501.03K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-26.72M	USD	18 Qtrs
NET LOSS	`NetIncomeLoss`	$-5.90M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$11.75	USD	18 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.19	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$2.32	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$2.24	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.77M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.64M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.54M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.27M	shares	18 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.81M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.47M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-501.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-26.72M	USD	18 Qtrs
Net loss	`NetIncomeLoss`	$-5.90M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.81M	USD	18 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$986.32K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.15M	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$94.77K	USD	18 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-73.37K	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-7.77K	USD	3 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.61M	USD	3 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$142.82K	USD	18 Qtrs
Increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-980.29K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.87M	USD	18 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.09M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.65M	USD	3 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	3 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$100.00K	USD	18 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	3 Qtrs
Proceeds from Collection of Notes Receivable	`ProceedsFromCollectionOfNotesReceivable`	$100.00K	USD	18 Qtrs
Proceeds from Collection of Notes Receivable	`ProceedsFromCollectionOfNotesReceivable`	$100.00K	USD	3 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	3 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	3 Qtrs
Acquisition of other assets	`PaymentsToAcquireOtherProductiveAssets`	$225.00K	USD	18 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$200.00K	USD	3 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	-	USD	3 Qtrs
Acquisition of properties	`PaymentsToAcquireMiningAssets`	$1.21M	USD	18 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.43M	USD	18 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-200.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	3 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	-	USD	3 Qtrs
Shareholders contributions	`ProceedsFromContributionsFromParent`	$6.78M	USD	18 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$14.03M	USD	3 Qtrs
Common stock issuance, net	`ProceedsFromIssuanceOfCommonStock`	$22.46M	USD	18 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$500.00K	USD	18 Qtrs
Short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$500.00K	USD	18 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.24M	USD	18 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.03M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.18M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.94M	USD	18 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.09M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.94M	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`	$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`	$3.94M	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`	$15.94M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.81M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	2.48M	shares	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$472.56K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$321.18K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$192.58K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.47M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-501.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-26.72M	USD	18 Qtrs
Net loss	`NetIncomeLoss`	$-5.90M	USD	3 Qtrs
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`	$-679.52K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.61M	USD	1 Quarter
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.81M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	3.81M	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.