10-Q Filing

LUSTROS INC. CIK: 922011 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001019687-15-001158`
Period End Date	20140331
Filing Date	20150330
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	lsld-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 42 Cash Flow Statement 67 Comprehensive Income 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$149.06K	USD	Point-in-time
Cash	`Cash`	$91.75K	USD	Point-in-time
Cash	`Cash`	$615.47K	USD	Point-in-time
Cash	`Cash`	$277.56K	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	-	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$915.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$145.86K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$124.77K	USD	Point-in-time
Inventory	`InventoryGross`	$91.94K	USD	Point-in-time
Inventory	`InventoryGross`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$329.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$741.15K	USD	Point-in-time
Fixed asset, net	`PropertyPlantAndEquipmentNet`	$3.49M	USD	Point-in-time
Fixed asset, net	`PropertyPlantAndEquipmentNet`	$3.12M	USD	Point-in-time
Land	`Land`	$508.60K	USD	Point-in-time
Land	`Land`	$534.60K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$3.63M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$4.02M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.76M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.96M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, Issued	`PreferredStockSharesIssued`	441,416.00	shares	Point-in-time
Preferred stock, Issued	`PreferredStockSharesIssued`	401,876.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	401,876.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.58M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	441,416.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible note payable, net of unamortized discount of $8,643 and $21,066 respectively	`ConvertibleDebtCurrent`	$50.11K	USD	Point-in-time
Convertible note payable, net of unamortized discount of $8,643 and $21,066 respectively	`ConvertibleDebtCurrent`	$43.14K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued rents Congo	`AccruedRentCurrent`	$465.24K	USD	Point-in-time
Common stock, Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Accrued rents Congo	`AccruedRentCurrent`	$697.86K	USD	Point-in-time
Common stock, Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, Issued	`CommonStockSharesIssued`	101.25M	shares	Point-in-time
Derivative liability from convertible notes	`DerivativeLiabilitiesCurrent`	$46.74K	USD	Point-in-time
Common stock, Issued	`CommonStockSharesIssued`	97.17M	shares	Point-in-time
Derivative liability from convertible notes	`DerivativeLiabilitiesCurrent`	$39.47K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$358.25K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	101.25M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	97.17M	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$351.18K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$3.12K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$2.47K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.73M	USD	Point-in-time
Convertible notes payable - related party, net of unamortized discount of $41,519 and $0 respectively	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Convertible notes payable - related party, net of unamortized discount of $41,519 and $0 respectively	`ConvertibleLongTermNotesPayable`	$258.48K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$446.63K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$433.79K	USD	Point-in-time
Total long term liabilites	`LiabilitiesNoncurrent`	$705.11K	USD	Point-in-time
Total long term liabilites	`LiabilitiesNoncurrent`	$433.79K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.13M	USD	Point-in-time
Preferred stock, $.001 par value, 10,000,000 shares authorized, 401,876 and 441,416 shares issued and outstanding respectively	`PreferredStockValue`	$402.00	USD	Point-in-time
Preferred stock, $.001 par value, 10,000,000 shares authorized, 401,876 and 441,416 shares issued and outstanding respectively	`PreferredStockValue`	$441.00	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 101,251,993 and 97,169,346 issued and outstanding respectively	`CommonStockValue`	$101.25K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 101,251,993 and 97,169,346 issued and outstanding respectively	`CommonStockValue`	$97.17K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.46M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.97M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.20M	USD	Point-in-time
Total Lustros, Inc. stockholders' equity	`StockholdersEquity`	$2.43M	USD	Point-in-time
Total Lustros, Inc. stockholders' equity	`StockholdersEquity`	$3.25M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-1.62M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-1.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.63M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$525.40K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.76M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.96M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$423.11K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$239.96K	USD	1 Quarter
Depreciation	`Depreciation`	$169.06K	USD	1 Quarter
Depreciation	`Depreciation`	$31.03K	USD	1 Quarter
Foreign exchange losses	`ForeignCurrencyTransactionLossBeforeTax`	$272.21K	USD	1 Quarter
Foreign exchange losses	`ForeignCurrencyTransactionLossBeforeTax`	-	USD	1 Quarter
Payroll	`SalariesWagesAndOfficersCompensation`	$400.96K	USD	1 Quarter
Payroll	`SalariesWagesAndOfficersCompensation`	$209.11K	USD	1 Quarter
Legal and accounting	`ProfessionalFees`	$64.22K	USD	1 Quarter
Legal and accounting	`ProfessionalFees`	$73.19K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$25.23K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Congo rent expense	`LeaseAndRentalExpense`	-	USD	1 Quarter
Congo rent expense	`LeaseAndRentalExpense`	$232.62K	USD	1 Quarter
Mining costs	`ExplorationCosts`	-	USD	1 Quarter
Mining costs	`ExplorationCosts`	$21.35K	USD	1 Quarter
Research & development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research & development	`ResearchAndDevelopmentExpense`	$49.00	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$766.53K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-766.53K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.40M	USD	1 Quarter
Net change in fair value of derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Net change in fair value of derivative liability	`UnrealizedGainLossOnDerivatives`	$-7.27K	USD	1 Quarter
Interest expense	`InterestExpense`	$27.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$226.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-992.56K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-285.23K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-211.06K	USD	1 Quarter
Net loss attributable to Lustros, Inc.	`IncomeLossAttributableToParent`	$-1.15M	USD	1 Quarter
Net loss attributable to Lustros, Inc.	`IncomeLossAttributableToParent`	$-781.51K	USD	1 Quarter
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average common shares, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	89.02M	shares	1 Quarter
Weighted average common shares, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	98.43M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-992.56K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$169.06K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$31.03K	USD	1 Quarter
Amortization of original issued discount	`IncreaseDecreaseInInterestPayableNet`	$183.17K	USD	1 Quarter
Amortization of original issued discount	`IncreaseDecreaseInInterestPayableNet`	$12.36K	USD	1 Quarter
Accrued rents Congo	`LeaseAndRentalExpense`	-	USD	1 Quarter
Accrued rents Congo	`LeaseAndRentalExpense`	$232.62K	USD	1 Quarter
Loss on sale of assets	`GainLossOnDispositionOfAssets`	$-31.78K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-13.07K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest paid with stock	`InterestExpenseOther`	-	USD	1 Quarter
Interest paid with stock	`InterestExpenseOther`	$802.00	USD	1 Quarter
Loss on change in fair value of convertible note derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Loss on change in fair value of convertible note derivative liability	`UnrealizedGainLossOnDerivatives`	$-7.27K	USD	1 Quarter
Increase in accrued interest included in notes payable	`IncreaseDecreaseInAccruedInterestReceivableNet`	-	USD	1 Quarter
Increase in accrued interest included in notes payable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-5.73K	USD	1 Quarter
Decrease/(increase) in receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease/(increase) in receivables	`IncreaseDecreaseInAccountsReceivable`	$-868.00	USD	1 Quarter
Decrease/(increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$897.00	USD	1 Quarter
Decrease/(increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$25.13K	USD	1 Quarter
Decrease/(increase) in inventory	`IncreaseDecreaseInInventories`	$8.57K	USD	1 Quarter
Decrease/(increase) in inventory	`IncreaseDecreaseInInventories`	$91.94K	USD	1 Quarter
Decrease/(increase) in tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$58.18K	USD	1 Quarter
Decrease/(increase) in tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Increase in asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$15.95K	USD	1 Quarter
Increase in asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$31.90K	USD	1 Quarter
Increase/(decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-143.70K	USD	1 Quarter
Increase/(decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$111.92K	USD	1 Quarter
Total cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.19M	USD	1 Quarter
Total cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-712.40K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$139.51K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Total cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-139.51K	USD	1 Quarter
Total cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$300.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Repayments on convertible notes	`RepaymentsOfConvertibleDebt`	$40.59K	USD	1 Quarter
Repayments on convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Proceeds from notes payable, related parties	`ProceedsFromRelatedPartyDebt`	$221.51K	USD	1 Quarter
Proceeds from notes payable, related parties	`ProceedsFromRelatedPartyDebt`	$650.00	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$550.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Total cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$730.92K	USD	1 Quarter
Total cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$300.65K	USD	1 Quarter
Effect of foreign currency exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-7.51K	USD	1 Quarter
Effect of foreign currency exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$367.21K	USD	1 Quarter
DECREASE IN CASH	`CashPeriodIncreaseDecrease`	$-128.50K	USD	1 Quarter
DECREASE IN CASH	`CashPeriodIncreaseDecrease`	$-523.72K	USD	1 Quarter
BEGINNING CASH	`Cash`	$149.06K	USD	Point-in-time
BEGINNING CASH	`Cash`	$91.75K	USD	Point-in-time
BEGINNING CASH	`Cash`	$615.47K	USD	Point-in-time
BEGINNING CASH	`Cash`	$277.56K	USD	Point-in-time
ENDING CASH	`Cash`	$149.06K	USD	Point-in-time
ENDING CASH	`Cash`	$91.75K	USD	Point-in-time
ENDING CASH	`Cash`	$615.47K	USD	Point-in-time
ENDING CASH	`Cash`	$277.56K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	$14.82K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Related party notes transferred to convertible notes	`RelatedPartyNotesTransferredToConvertibleNotes`	$-270.99K	USD	1 Quarter
Related party notes transferred to convertible notes	`RelatedPartyNotesTransferredToConvertibleNotes`	-	USD	1 Quarter
Convertible notes settled with common stock	`ConvertibleNotesSettledWithCommonStock`	$-20.00K	USD	1 Quarter
Convertible notes settled with common stock	`ConvertibleNotesSettledWithCommonStock`	-	USD	1 Quarter
Shares issued in conversion of convertible note	`SharesIssuedInConversionOfConvertibleNote`	$426.14K	USD	1 Quarter
Shares issued in conversion of convertible note	`SharesIssuedInConversionOfConvertibleNote`	$128.65K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-992.56K	USD	1 Quarter
Gain on foreign currency conversion	`ConversionGainsAndLossesOnForeignInvestments`	$252.07K	USD	1 Quarter
Gain on foreign currency conversion	`ConversionGainsAndLossesOnForeignInvestments`	$113.03K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.18M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-879.53K	USD	1 Quarter
Comprehensive loss attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-98.02K	USD	1 Quarter
Comprehensive loss attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-184.41K	USD	1 Quarter
Comprehensive loss attributable to Lustros, Inc.	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-781.51K	USD	1 Quarter
Comprehensive loss attributable to Lustros, Inc.	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-994.05K	USD	1 Quarter

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