10-Q Filing

RAMACO RESOURCES, INC. CIK: 1687187 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-006928`
Period End Date	20210331
Filing Date	20210512
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	metc-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 55 Stockholders Equity 12

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.54M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$21.74M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$20.30M	USD	Point-in-time
Inventories	`InventoryNet`	$24.19M	USD	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$11.95M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$4.95M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$5.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	260.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$57.31M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	44.23M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	44.23M	shares	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$180.46M	USD	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$177.74M	USD	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$5.40M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	312,021.00	shares	Point-in-time
Advanced coal royalties	`AdvanceRoyaltiesNoncurrent`	$4.78M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	42.71M	shares	Point-in-time
Other	`OtherAssetsNoncurrent`	$540.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$885.00K	USD	Point-in-time
Total Assets	`Assets`	$228.62M	USD	Point-in-time
Total Assets	`Assets`	$240.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.59M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.72M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$395.00K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$46.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.90M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.87M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$485.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$862.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.25M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$15.11M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$14.87M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$15.95M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$12.58M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$1.60M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$1.76M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$965.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$59.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$66.69M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 44,229,961 and 42,706,908 shares issued and outstanding, respectively	`CommonStockValue`	$427.00K	USD	Point-in-time
Common stock, $0.01 par value, 260,000,000 shares authorized, 44,229,961 and 42,706,908 shares issued and outstanding, respectively	`CommonStockValue`	$442.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$159.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.81M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$169.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$174.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$172.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$170.08M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$240.98M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$228.62M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$41.94M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$43.45M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$30.93M	USD	1 Quarter
Cost of sales (exclusive of items shown separately below)	`CostOfGoodsAndServicesSold`	$31.20M	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$151.00K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$141.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.16M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.71M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.72M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$42.21M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$40.79M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.24M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.21M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$2.94M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$202.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$279.00K	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.98M	USD	1 Quarter
Income before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.07M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$110.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-166.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic earnings (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted earnings (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	43,443.00	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	41,760.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	41,760.00	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	43,443.00	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$151.00K	USD	1 Quarter
Accretion of asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$141.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.16M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$923.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.05M	USD	1 Quarter
Other income - employee retention tax credit	`OtherIncomeExpensePppLoan`	$2.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$110.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-166.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$-4.84M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$1.44M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$554.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.24M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$214.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingAssets`	$220.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.32M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.65M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-256.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-935.00K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$499.00K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.42M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.90M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.73M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.73M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.90M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$22.20M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$11.60M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfDebt`	$8.21M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfDebt`	$9.53M	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$377.00K	USD	1 Quarter
Repayments of financed insurance payable	`RepaymentsOfFinancedInsurancePayable`	$281.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.02M	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.39M	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-211.00K	USD	1 Quarter
Net change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.90M	USD	1 Quarter
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.71M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.87M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.77M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.50M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.71M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.87M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.77M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.50M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$186.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$242.00K	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$913.00K	USD	1 Quarter
Capital expenditures included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.69M	USD	1 Quarter
Additional asset retirement obligations incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$26.00K	USD	1 Quarter
Additional asset retirement obligations incurred	`AssetRetirementObligationLiabilitiesIncurredOrAssumed`	$9.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$174.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$172.97M	USD	Point-in-time
Balance	`StockholdersEquity`	$170.08M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.05M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$923.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.14M	USD	1 Quarter
Balance	`StockholdersEquity`	$169.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$174.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$172.97M	USD	Point-in-time
Balance	`StockholdersEquity`	$170.08M	USD	Point-in-time

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