10-Q Filing

Idaho Strategic Resources, Inc. CIK: 1030192 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001052918-16-001217`
Period End Date	20160630
Filing Date	20160815
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	njmc-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 88 Cash Flow Statement 58

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	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`	$11.04K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$140.30K	USD	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$5.39K	USD	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$3.11K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Milling receivables	`OtherReceivablesNetCurrent`	$31.45K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Milling receivables	`OtherReceivablesNetCurrent`	$40.58K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$40.35K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$42.30K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	91.76M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	94.76M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$204.70K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	91.76M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$148.56K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	94.76M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$5.75M	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`	$1.99M	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`	$7.82M	USD	Point-in-time
Total assets	`Assets`	$8.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$176.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$58.27K	USD	Point-in-time
Line of credit	`LineOfCredit`	$31.86K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$14.51K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$1.16K	USD	Point-in-time
Notes and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$88.11K	USD	Point-in-time
Notes and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$87.23K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$613.13K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$488.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$909.70K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$649.33K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$31.30K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$28.66K	USD	Point-in-time
Notes and interest payable related parties, long term	`NotesPayableRelatedPartiesNoncurrent`	$598.13K	USD	Point-in-time
Notes and interest payable related parties, long term	`NotesPayableRelatedPartiesNoncurrent`	$1.09M	USD	Point-in-time
Notes payable, long term, net of discount	`NotesPayableLongTermNetOfDiscount`	$488.64K	USD	Point-in-time
Notes payable, long term, net of discount	`NotesPayableLongTermNetOfDiscount`	$731.94K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$1.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.52M	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
Common stock, no par value, 200,000,000 shares authorized; December 31, 2015-91,760,148 shares and June 30, 2016-94,760,148 shares issued and outstanding	`CommonStockValue`	$13.84M	USD	Point-in-time
Common stock, no par value, 200,000,000 shares authorized; December 31, 2015-91,760,148 shares and June 30, 2016-94,760,148 shares issued and outstanding	`CommonStockValue`	$13.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.27M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.57M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.61M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.23M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.80M	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`	$8.32M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Gold Sales	`RevenueMineralSales`	$48.31K	USD	1 Quarter
Gold Sales	`RevenueMineralSales`	$77.66K	USD	2 Qtrs
Milling income	`MillingIncome`	$14.61K	USD	2 Qtrs
Milling income	`MillingIncome`	$872.25K	USD	1 Quarter
Milling income	`MillingIncome`	$1.26M	USD	2 Qtrs
Total revenue	`Revenues`	$92.28K	USD	2 Qtrs
Total revenue	`Revenues`	$872.25K	USD	1 Quarter
Total revenue	`Revenues`	$1.26M	USD	2 Qtrs
Total revenue	`Revenues`	$48.31K	USD	1 Quarter
Milling	`ProductionCosts`	$770.29K	USD	2 Qtrs
Milling	`ProductionCosts`	$95.19K	USD	2 Qtrs
Milling	`ProductionCosts`	$43.34K	USD	1 Quarter
Milling	`ProductionCosts`	$431.52K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$46.07K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$80.06K	USD	2 Qtrs
Exploration	`ExplorationExpenseMining`	$93.13K	USD	2 Qtrs
Exploration	`ExplorationExpenseMining`	$38.63K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$102.19K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.21K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.12K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$53.27K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$80.12K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$56.15K	USD	2 Qtrs
Management	`LaborAndRelatedExpense`	$21.10K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$136.66K	USD	2 Qtrs
Professional services	`ProfessionalAndContractServicesExpense`	$4.34K	USD	1 Quarter
Professional services	`ProfessionalAndContractServicesExpense`	$55.03K	USD	2 Qtrs
Professional services	`ProfessionalAndContractServicesExpense`	$119.66K	USD	2 Qtrs
Professional services	`ProfessionalAndContractServicesExpense`	$58.88K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$168.33K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$59.96K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.72K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$56.84K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$729.82K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$346.48K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.39M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$134.25K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$142.43K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-85.94K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-126.88K	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-254.20K	USD	2 Qtrs
Royalties and other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Royalties and other income	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Royalties and other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Royalties and other income	`OtherNonoperatingIncome`	$-200.00	USD	2 Qtrs
Timber income	`TimberRevenue`	$-42.01K	USD	1 Quarter
Timber income	`TimberRevenue`	$-42.01K	USD	2 Qtrs
Timber expense	`TimberOperatingCosts`	$2.17K	USD	1 Quarter
Timber expense	`TimberOperatingCosts`	$500.00	USD	2 Qtrs
Timber expense	`TimberOperatingCosts`	$2.23K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$-1.23K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-1.32K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-2.70K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$-3.05K	USD	2 Qtrs
Interest expense	`InterestExpense`	$11.64K	USD	2 Qtrs
Interest expense	`InterestExpense`	$40.08K	USD	2 Qtrs
Interest expense	`InterestExpense`	$28.87K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$24.91K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$11.16K	USD	2 Qtrs
Total other (income) expense	`NonoperatingIncomeExpense`	$20.23K	USD	2 Qtrs
Total other (income) expense	`NonoperatingIncomeExpense`	$946.00	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-2.01K	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-274.43K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$141.49K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-138.04K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-83.92K	USD	1 Quarter
Net income (loss) attributable to non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-34.87K	USD	2 Qtrs
Net income (loss) attributable to non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	$13.61K	USD	2 Qtrs
Net income (loss) attributable to non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-24.19K	USD	1 Quarter
Net income (loss) attributable to non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	$13.63K	USD	1 Quarter
Net income (loss) attributable to non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	$13.61K	USD	Point-in-time
Net income (loss) attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-103.17K	USD	2 Qtrs
Net income (loss) attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-288.03K	USD	2 Qtrs
Net income (loss) attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$165.67K	USD	1 Quarter
Net income (loss) attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-97.55K	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	2 Qtrs
Net loss per common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.30M	shares	2 Qtrs
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.76M	shares	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.76M	shares	2 Qtrs
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.76M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-274.43K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$141.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.04K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-83.92K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$102.19K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.21K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.12K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$53.27K	USD	1 Quarter
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$24.91K	USD	2 Qtrs
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$2.65K	USD	2 Qtrs
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$2.65K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$42.04K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$46.62K	USD	2 Qtrs
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-2.28K	USD	2 Qtrs
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-10.78K	USD	2 Qtrs
Milling receivables	`IncreaseDecreaseInReceivables`	$-181.87K	USD	2 Qtrs
Milling receivables	`IncreaseDecreaseInReceivables`	$9.13K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$11.87K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.95K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$8.02K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$101.04K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$118.05K	USD	2 Qtrs
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.35K	USD	2 Qtrs
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-4.84K	USD	2 Qtrs
Milling advance	`IncreaseDecreaseInOtherLoans`	$-50.00K	USD	2 Qtrs
Interest payable related parties	`IncreaseDecreaseInOtherAccruedLiabilities`	$27.00K	USD	2 Qtrs
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-113.16K	USD	2 Qtrs
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-65.02K	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-42.27K	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-96.54K	USD	2 Qtrs
Purchase of mineral property	`PaymentsToAcquireMineralRights`	$-79.65K	USD	2 Qtrs
Purchase of investment in joint venture	`PaymentsToAcquireInterestInJointVenture`	$-225.00K	USD	2 Qtrs
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.54K	USD	2 Qtrs
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-346.92K	USD	2 Qtrs
Borrowings on notes payable, related parties	`IncreaseDecreaseInDueToRelatedParties`	$475.00K	USD	2 Qtrs
Borrowings under line of credit	`ProceedsFromLinesOfCredit`	$38.50K	USD	2 Qtrs
Borrowings under line of credit	`ProceedsFromLinesOfCredit`	$31.86K	USD	2 Qtrs
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$-5.92K	USD	2 Qtrs
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$-143.51K	USD	2 Qtrs
Principal payments on note payables, related parties	`RepaymentsOfRelatedPartyDebt`	$-19.10K	USD	2 Qtrs
Principal payments on note payables, related parties	`RepaymentsOfRelatedPartyDebt`	$-7.09K	USD	2 Qtrs
Contributions from noncontrolling interest	`ContributionFromNoncontrollingInterest`	$4.45K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$360.71K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.48K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-196.23K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-51.24K	USD	2 Qtrs
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`	$11.04K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$140.30K	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`	$11.04K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$140.30K	USD	Point-in-time
Shares of common stock issued for investment in joint venture	`StockIssuedDuringPeriodValueOther`	$210.00K	USD	2 Qtrs
Debt for equipment purchase	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$210.00K	USD	Point-in-time
Debt for equipment purchase	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$92.32K	USD	2 Qtrs

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