10-Q/A Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-11-051530`
Period End Date	20110630
Filing Date	20110907
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	enrj-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 60 Cash Flow Statement 59

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$412.37K	USD	Point-in-time
Cash	`Cash`	$3.49M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`Cash`	$92.80K	USD	Point-in-time
Cash	`Cash`	$2.96M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$801.83K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$357.39K	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$1.54M	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$2.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$144.47K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$142.92K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	69.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	67.47M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	67.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	69.44M	shares	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$253.85K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$500.11K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$122.78K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$169.07K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$131.07K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$331.04K	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$18.68M	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$15.37M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$11.08M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$5.64M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$26.46M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$24.32M	USD	Point-in-time
Total assets	`Assets`	$30.88M	USD	Point-in-time
Total assets	`Assets`	$32.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.77M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$161.81K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$535.75K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$929.72K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$869.20K	USD	Point-in-time
Long-term debt, current	`LongTermDebtCurrent`	$6.13M	USD	Point-in-time
Long-term debt, current	`LongTermDebtCurrent`	$6.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.31M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$883.07K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.06M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$22.11K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$13.43K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$2.99M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$2.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.37M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 4,779,460 shares issued and outstanding	`PreferredStockValue`	$4.78K	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 4,779,460 shares issued and outstanding	`PreferredStockValue`	$4.78K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized; shares issued and outstanding - 69,436,529 at June 30, 2011 and 67,469,555 at December 31, 2010	`CommonStockValue`	$73.19K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized; shares issued and outstanding - 69,436,529 at June 30, 2011 and 67,469,555 at December 31, 2010	`CommonStockValue`	$67.46K	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$1.50M	USD	Point-in-time
Equity based compensation unearned	`UnearnedESOPShares`	$269.28K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$37.66M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$41.40M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-27.87K	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-18.36M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$30.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.77M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasRevenue`	$1.69M	USD	1 Quarter
Oil revenues	`OilAndGasRevenue`	$1.03M	USD	1 Quarter
Oil revenues	`OilAndGasRevenue`	$3.05M	USD	2 Qtrs
Oil revenues	`OilAndGasRevenue`	$2.18M	USD	2 Qtrs
Direct operating costs	`DirectOperatingCosts`	$917.65K	USD	2 Qtrs
Direct operating costs	`DirectOperatingCosts`	$826.42K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$1.67M	USD	2 Qtrs
Direct operating costs	`DirectOperatingCosts`	$398.07K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$206.84K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$265.04K	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$328.77K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$600.73K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$286.85K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$63.59K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$489.93K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$145.50K	USD	2 Qtrs
Salaries	`SalariesAndWages`	$165.00K	USD	1 Quarter
Salaries	`SalariesAndWages`	$171.97K	USD	2 Qtrs
Salaries	`SalariesAndWages`	$42.41K	USD	1 Quarter
Salaries	`SalariesAndWages`	$283.65K	USD	2 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$256.77K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$461.01K	USD	2 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$392.07K	USD	2 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$165.41K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.86M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$3.51M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$1.89M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$876.31K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-454.97K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-178.63K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$290.54K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$154.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$577.67K	USD	2 Qtrs
Interest expense	`InterestExpense`	$108.18K	USD	1 Quarter
Interest expense	`InterestExpense`	$222.50K	USD	2 Qtrs
Interest expense	`InterestExpense`	$205.90K	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$1.20M	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$1.12M	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-301.00K	USD	2 Qtrs
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.27M	USD	2 Qtrs
Other income (loss)	`OtherNonoperatingIncomeExpense`	$-24.14K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingIncomeExpense`	$24.04K	USD	2 Qtrs
Other income (loss)	`OtherNonoperatingIncomeExpense`	$28.67K	USD	2 Qtrs
Other income (loss)	`OtherNonoperatingIncomeExpense`	$11.96K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.10M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-850.00K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.47M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$894.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$921.60K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-559.46K	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.21	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.07M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.05M	shares	2 Qtrs
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	69.81M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	68.86M	shares	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$921.60K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-559.46K	USD	2 Qtrs
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$609.75K	USD	2 Qtrs
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$283.04K	USD	2 Qtrs
Accretion of interest on long-term debt discount	`AccretionOfDiscount`	$163.24K	USD	2 Qtrs
Shares issued for compensation and services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$38.47K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$38.37K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$44.19K	USD	2 Qtrs
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-660.81K	USD	2 Qtrs
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$308.63K	USD	2 Qtrs
Gain on purchase of debentures	`OtherNoncashIncomeExpense`	$30.00K	USD	2 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-52.36K	USD	2 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-630.00	USD	2 Qtrs
Principal increase in debenture	`UnrealizedGainLossOnSecurities`	$-172.29K	USD	2 Qtrs
Shares issued for interest on debenture	`InterestExpenseSubordinatedNotesAndDebentures`	$2.46K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-97.99K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$444.44K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.55K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-53.25K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$661.41K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-55.25K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$373.94K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-148.87K	USD	2 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-239.20K	USD	2 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.10K	USD	2 Qtrs
Purchase of Treasury Stock	`PaymentsForRepurchaseOfCommonStock`	$1.50M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$31.64K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$247.66K	USD	2 Qtrs
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$96.14K	USD	2 Qtrs
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$2.57M	USD	2 Qtrs
Proceeds from sale of oil & natural gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$92.00K	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$44.68K	USD	2 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.32M	USD	2 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.90K	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$212.87K	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.69K	USD	2 Qtrs
Sale of marketable securities	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.40M	USD	2 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.44M	USD	2 Qtrs
Borrowings on long term debt	`ProceedsFromIssuanceOfLongTermDebt`	$123.59K	USD	2 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.83M	USD	2 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-89.27K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-319.57K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$529.38K	USD	2 Qtrs
Cash - beginning	`Cash`	$412.37K	USD	Point-in-time
Cash - beginning	`Cash`	$3.49M	USD	Point-in-time
Cash - beginning	`Cash`	$92.80K	USD	Point-in-time
Cash - beginning	`Cash`	$2.96M	USD	Point-in-time
Cash - ending	`Cash`	$412.37K	USD	Point-in-time
Cash - ending	`Cash`	$3.49M	USD	Point-in-time
Cash - ending	`Cash`	$92.80K	USD	Point-in-time
Cash - ending	`Cash`	$2.96M	USD	Point-in-time
Interest paid	`InterestPaid`	$201.64K	USD	2 Qtrs
Interest paid	`InterestPaid`	$108.18K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Share-based payments issued for services and interest	`StockIssued1`	$-174.75K	USD	2 Qtrs
Share-based payments issued for services and interest	`StockIssued1`	$38.47K	USD	2 Qtrs

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