10-Q Filing

Idaho Strategic Resources, Inc. CIK: 1030192 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001052918-17-000249`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	njmc-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 44 Cash Flow Statement 59

Balance Sheet 85 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`	$11.58K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$627.30K	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`	$154.83K	USD	Point-in-time
Milling receivables	`OtherReceivablesNetCurrent`	$24.95K	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
Milling receivables	`OtherReceivablesNetCurrent`	$31.45K	USD	Point-in-time
Gold sales receivable	`OtherReceivables`	$133.49K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Gold sales receivable	`OtherReceivables`	$54.32K	USD	Point-in-time
Concentrate Inventory	`InventoryNet`	$166.19K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Concentrate Inventory	`InventoryNet`	$175.16K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	97.19M	shares	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$2.89K	USD	Point-in-time
Joint venture receivables	`DueFromJointVenturesCurrent`	$8.54K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	108.89M	shares	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$58.39K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	108.89M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	97.19M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$38.40K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$52.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$529.75K	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$5.79M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$5.79M	USD	Point-in-time
Mineral properties, net of accumulated amortization	`MineralPropertiesNet`	$2.05M	USD	Point-in-time
Mineral properties, net of accumulated amortization	`MineralPropertiesNet`	$2.05M	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
Investment in joint venture	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$435.00K	USD	Point-in-time
Reclamation bond	`ReclamationBond`	$58.00K	USD	Point-in-time
Reclamation bond	`ReclamationBond`	$58.00K	USD	Point-in-time
Total assets	`Assets`	$9.39M	USD	Point-in-time
Total assets	`Assets`	$8.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$243.12K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$248.25K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$38.73K	USD	Point-in-time
Accrued payroll and related payroll expenses	`AccruedPayrollTaxesCurrent`	$37.86K	USD	Point-in-time
Notes and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$908.91K	USD	Point-in-time
Notes and interest payable related parties, current portion	`NotesPayableRelatedPartiesClassifiedCurrent`	$567.58K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$623.18K	USD	Point-in-time
Notes payable, current portion, net of discount	`NotesPayableCurrentPortionNetOfDiscount`	$512.09K	USD	Point-in-time
Forward gold contracts, current portion	`ForwardGoldContractsCurrentPortion`	$968.89K	USD	Point-in-time
Forward gold contracts, current portion	`ForwardGoldContractsCurrentPortion`	$845.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.32M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$72.22K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligation`	$74.02K	USD	Point-in-time
Notes and interest payable related parties, long term	`NotesPayableRelatedPartiesNoncurrent`	$513.72K	USD	Point-in-time
Notes and interest payable related parties, long term	`NotesPayableRelatedPartiesNoncurrent`	$55.49K	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$133.60K	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$268.16K	USD	Point-in-time
Forward gold contracts, long term	`ForwardGoldContractsLongTerm`	$395.31K	USD	Point-in-time
Forward gold contracts, long term	`ForwardGoldContractsLongTerm`	$541.03K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$658.43K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$1.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.71M	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; March 31, 2017-108,893,704 shares and December 31, 2016-97,193,704 shares issued and outstanding	`CommonStockValue`	$15.47M	USD	Point-in-time
Common stock, no par value, 200,000,000 shares authorized; March 31, 2017-108,893,704 shares and December 31, 2016-97,193,704 shares issued and outstanding	`CommonStockValue`	$14.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.29M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.91M	USD	Point-in-time
Total New Jersey Mining Company stockholders' equity	`StockholdersEquity`	$2.00M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.14M	USD	Point-in-time
Non-controlling interests	`NonredeemableNoncontrollingInterest`	$3.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.15M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.86M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Gold sales	`RevenueMineralSales`	$29.35K	USD	1 Quarter
Gold sales	`RevenueMineralSales`	$689.32K	USD	1 Quarter
Milling income	`ResultsOfOperationsRevenueOther`	$14.61K	USD	1 Quarter
Total revenue	`Revenues`	$689.32K	USD	1 Quarter
Total revenue	`Revenues`	$43.97K	USD	1 Quarter
Production	`ProductionCostsMineral`	$527.77K	USD	1 Quarter
Production	`ProductionCostsMineral`	$51.85K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$18.65K	USD	1 Quarter
Exploration	`ExplorationExpenseMining`	$41.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$27.28K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.10K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$42.56K	USD	1 Quarter
Management	`LaborAndRelatedExpense`	$35.05K	USD	1 Quarter
Accounting and legal services	`ProfessionalAndContractServicesExpense`	$65.63K	USD	1 Quarter
Accounting and legal services	`ProfessionalAndContractServicesExpense`	$50.69K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.12K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$92.29K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$212.23K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$774.18K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-168.26K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-84.86K	USD	1 Quarter
Timber expense	`TimberOperatingCosts`	$501.00	USD	1 Quarter
Timber expense	`TimberOperatingCosts`	$73.00	USD	1 Quarter
Royalties and other (income) expense	`OtherExpenses`	$-200.00	USD	1 Quarter
Royalties and other (income) expense	`OtherExpenses`	$12.04K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-757.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-1.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.21K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.23K	USD	1 Quarter
Change in fair value of forward gold contracts	`ChangeInFairValueOfForwardGoldContracts`	$143.21K	USD	1 Quarter
Change in fair value of forward gold contracts	`ChangeInFairValueOfForwardGoldContracts`	$143.21K	USD	Point-in-time
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$14.52K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$189.32K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$22.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-274.18K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-190.50K	USD	1 Quarter
Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-11.03K	USD	1 Quarter
Net loss attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-263.14K	USD	1 Quarter
Net loss attributable to New Jersey Mining Company	`NetIncomeLossAttributableToParent`	$-190.48K	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`	99.23M	shares	1 Quarter
Weighted average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	93.84M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-274.18K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-190.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$27.28K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.10K	USD	1 Quarter
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$12.45K	USD	1 Quarter
Amortization of discount on note payable	`AmortizationOfDebtDiscountPremium`	$14.52K	USD	1 Quarter
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$1.80K	USD	1 Quarter
Accretion of asset retirement obligation	`AccretionExpenseIncludingAssetRetirementObligations`	$1.32K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$33.50K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$24.64K	USD	1 Quarter
Change in fair value of forward gold contracts	`ChangeInFairValueOfForwardGoldContracts`	$143.21K	USD	1 Quarter
Change in fair value of forward gold contracts	`ChangeInFairValueOfForwardGoldContracts`	$143.21K	USD	Point-in-time
Milling receivables	`IncreaseDecreaseInReceivables`	$6.50K	USD	1 Quarter
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-5.65K	USD	1 Quarter
Joint venture receivables	`IncreaseDecreaseInOtherReceivables`	$-2.12K	USD	1 Quarter
Gold sales receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-79.17K	USD	1 Quarter
Gold sales receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$6.15K	USD	1 Quarter
Concentrate inventory	`IncreaseDecreaseInInventories`	$8.97K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$19.92K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$14.32K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.13K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.28K	USD	1 Quarter
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$715.00	USD	1 Quarter
Accrued payroll and related payroll expense	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$869.00	USD	1 Quarter
Interest payable related parties	`IncreaseDecreaseInOtherAccruedLiabilities`	$10.21K	USD	1 Quarter
Interest payable related parties	`IncreaseDecreaseInOtherAccruedLiabilities`	$5.52K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.83K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-97.38K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-23.86K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-20.00K	USD	1 Quarter
Purchase of mineral property	`PaymentsToAcquireMineralRights`	$-5.12K	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
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.98K	USD	1 Quarter
Net cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-304.37K	USD	1 Quarter
Sales of common stock and warrants, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$1.04M	USD	1 Quarter
Borrowings on notes payable, related parties	`ProceedsFromRelatedPartyDebt`	$400.00K	USD	1 Quarter
Payments on forward gold contracts in cash	`PaymentsForProceedsFromInvestments`	$-81.72K	USD	1 Quarter
Gold purchased for payments on forward gold contracts	`GoldPurchasedForPaymentsOnForwardGoldContracts`	$83.52K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$-260.17K	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`	$-22.41K	USD	1 Quarter
Contributions from non-controlling interest	`ProceedsFromMinorityShareholders`	$2.18K	USD	1 Quarter
Contributions from non-controlling interest	`ProceedsFromMinorityShareholders`	$5.65K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$598.83K	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`	$472.47K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.27K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.58K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$627.30K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$154.83K	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`	$11.58K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$627.30K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$154.83K	USD	Point-in-time
Shares of common stock and warrants issued for payment of note and interest payable, related party	`SharesOfCommonStockAndWarrantsIssuedForPaymentOfNoteAndInterestPayableRelatedParty`	$100.00K	USD	1 Quarter
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.