10-Q Filing

Idaho Strategic Resources, Inc. CIK: 1030192 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001052918-16-001061`
Period End Date	20160331
Filing Date	20160516
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	njmc-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 43 Cash Flow Statement 49

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.35K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.27K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$336.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.58K	USD	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$3.11K	USD	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$5.23K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Milling receivables	`OtherReceivablesNetCurrent`	$40.58K	USD	Point-in-time
Milling receivables	`OtherReceivablesNetCurrent`	$34.43K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$20.43K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$40.35K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$130.05K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$204.70K	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$5.72M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$5.70M	USD	Point-in-time
Mineral properties, net of accumulated amortization	`MineralPropertiesNet`	$1.91M	USD	Point-in-time
Mineral properties, net of accumulated amortization	`MineralPropertiesNet`	$1.98M	USD	Point-in-time
Investment in joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$435.00K	USD	Point-in-time
Investment in joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$435.00K	USD	Point-in-time
Deposit on equipment	`DepositsAssetsNoncurrent`	$13.98K	USD	Point-in-time
Total assets	`Assets`	$8.26M	USD	Point-in-time
Total assets	`Assets`	$7.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$103.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$58.27K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$14.51K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$15.23K	USD	Point-in-time
Note and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$88.12K	USD	Point-in-time
Note and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$88.11K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$488.44K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$549.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$756.28K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$649.33K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$29.98K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$28.66K	USD	Point-in-time
Notes payable related parties, long term	`DueToRelatedPartiesNoncurrent`	$598.13K	USD	Point-in-time
Notes payable related parties, long term	`DueToRelatedPartiesNoncurrent`	$1.00M	USD	Point-in-time
Notes payable, long term, net of discount	`NotesPayableLongTermNetOfDiscount`	$731.94K	USD	Point-in-time
Notes payable, long term, net of discount	`NotesPayableLongTermNetOfDiscount`	$611.87K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$1.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.01M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, 200,000,000 shares authorized; December 31, 2015-91,760,148 shares and March 31, 2016-94,760,148 shares issued and outstanding	`CommonStockValue`	$13.83M	USD	Point-in-time
Common stock, no par value, 200,000,000 shares authorized; December 31, 2015-91,760,148 shares and March 31, 2016-94,760,148 shares issued and outstanding	`CommonStockValue`	$13.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.98M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.61M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.65M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.21M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.82M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.82M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.26M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Gold sales	`RevenueMineralSales`	$29.35K	USD	1 Quarter
Milling income	`SecondaryProcessingRevenue`	$14.61K	USD	1 Quarter
Milling income	`SecondaryProcessingRevenue`	$391.12K	USD	1 Quarter
Total revenue	`Revenues`	$43.97K	USD	1 Quarter
Total revenue	`Revenues`	$391.12K	USD	1 Quarter
Milling	`ProductionCosts`	$51.85K	USD	1 Quarter
Milling	`ProductionCosts`	$338.77K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$47.06K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$41.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.10K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.92K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$56.54K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$35.05K	USD	1 Quarter
Professional services	`ProfessionalAndContractServicesExpense`	$60.78K	USD	1 Quarter
Professional services	`ProfessionalAndContractServicesExpense`	$50.69K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$108.42K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$31.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$660.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$212.23K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-168.26K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-269.36K	USD	1 Quarter
Timber expense	`TimberOperatingCosts`	$501.00	USD	1 Quarter
Royalties and other income	`OtherNonoperatingIncome`	$-200.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-1.47K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-1.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.21K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.64K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$22.24K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$10.17K	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-279.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-190.50K	USD	1 Quarter
Net loss attributable to non-controlling interests	`IncomeLossAttributableToNoncontrollingInterest`	$-23.00	USD	1 Quarter
Net loss attributable to non-controlling interests	`IncomeLossAttributableToNoncontrollingInterest`	$-10.68K	USD	1 Quarter
Net loss attributable to non-controlling interests	`IncomeLossAttributableToNoncontrollingInterest`	$-23.00	USD	Point-in-time
Net loss attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-190.48K	USD	1 Quarter
Net loss attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-268.85K	USD	1 Quarter
Net loss per common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	93.84M	shares	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.76M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-279.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-190.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.10K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.92K	USD	1 Quarter
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$1.32K	USD	1 Quarter
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$1.32K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$24.64K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$27.46K	USD	1 Quarter
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-2.12K	USD	1 Quarter
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-3.71K	USD	1 Quarter
Milling receivables	`IncreaseDecreaseInReceivables`	$-109.89K	USD	1 Quarter
Milling receivables	`IncreaseDecreaseInReceivables`	$6.15K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.79K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$19.92K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$6.42K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.28K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$57.46K	USD	1 Quarter
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$715.00	USD	1 Quarter
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.33K	USD	1 Quarter
Interest payable related parties	`IncreaseDecreaseInOtherAccruedLiabilities`	$10.21K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-256.08K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.83K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-3.85K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-20.00K	USD	1 Quarter
Purchase of mineral property	`PaymentsToAcquireMineralRights`	$-59.37K	USD	1 Quarter
Purchase of investment in joint venture	`PaymentsToAcquireInterestInJointVenture`	$-225.00K	USD	1 Quarter
Deposits on equipment	`PaymentsForOtherDeposits`	$-38.52K	USD	1 Quarter
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.38K	USD	1 Quarter
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-304.37K	USD	1 Quarter
Borrowings on notes payable, related parties	`IncreaseDecreaseInDueToRelatedParties`	$400.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$-1.31K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$-71.58K	USD	1 Quarter
Principal payments on note payables, related parties	`RepaymentsOfRelatedPartyDebt`	$-7.09K	USD	1 Quarter
Principal payments on note payables, related parties	`RepaymentsOfRelatedPartyDebt`	$-9.41K	USD	1 Quarter
Contributions from noncontrolling interest	`ContributionFromNoncontrollingInterest`	$2.18K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.72K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$323.50K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.69K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-309.18K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.35K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.27K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$336.52K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.58K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.35K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.27K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$336.52K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.58K	USD	Point-in-time
Shares of common stock issued for investment in joint venture	`StockIssuedDuringPeriodValueOther`	$210.00K	USD	1 Quarter

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