10-Q Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-066219`
Period End Date	20110930
Filing Date	20111121
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	enrj-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 60 Cash Flow Statement 59

Balance Sheet 75 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`	$1.22M	USD	Point-in-time
Cash	`Cash`	$123.64K	USD	Point-in-time
Cash	`Cash`	$412.37K	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`	$2.96M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$926.54K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$357.39K	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$2.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$1.54M	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
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$144.47K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$125.43K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Derivate Gain	`DerivativeAssetsCurrent`	$158.31K	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	67.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	69.44M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.98M	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$253.85K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$526.40K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$193.78K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$122.78K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$332.62K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$131.07K	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$15.37M	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$18.68M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$12.08M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$5.64M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$27.45M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$24.32M	USD	Point-in-time
Total assets	`Assets`	$31.75M	USD	Point-in-time
Total assets	`Assets`	$30.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$209.12K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$161.81K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$929.72K	USD	Point-in-time
Long-term debt, current	`LongTermDebtCurrent`	$7.00K	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`	$1.34M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$883.07K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.08M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$22.11K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$6.13M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$2.27M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$660.04K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.50M	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 September 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 September 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`	$250.05K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$41.40M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$37.66M	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`	$-17.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.54M	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`	$31.75M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasRevenue`	$1.67M	USD	1 Quarter
Oil revenues	`OilAndGasRevenue`	$4.73M	USD	3 Qtrs
Oil revenues	`OilAndGasRevenue`	$3.10M	USD	3 Qtrs
Oil revenues	`OilAndGasRevenue`	$897.22K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$2.46M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$1.44M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$524.44K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$787.99K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$375.18K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$173.27K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$975.91K	USD	3 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$399.58K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$255.71K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$745.64K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$106.28K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$251.78K	USD	3 Qtrs
Salaries	`SalariesAndWages`	$229.72K	USD	3 Qtrs
Salaries	`SalariesAndWages`	$150.67K	USD	1 Quarter
Salaries	`SalariesAndWages`	$57.75K	USD	1 Quarter
Salaries	`SalariesAndWages`	$434.32K	USD	3 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$495.33K	USD	3 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$536.61K	USD	3 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$103.27K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$75.60K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.65M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.82M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$965.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$5.15M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-426.26K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$278.70K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-67.78K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$28.71K	USD	1 Quarter
Interest expense	`InterestExpense`	$333.98K	USD	3 Qtrs
Interest expense	`InterestExpense`	$216.31K	USD	1 Quarter
Interest expense	`InterestExpense`	$793.98K	USD	3 Qtrs
Interest expense	`InterestExpense`	$111.47K	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$3.19M	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$1.92M	USD	3 Qtrs
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-891.56K	USD	3 Qtrs
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-702.15K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingIncomeExpense`	$44.40K	USD	3 Qtrs
Other income (loss)	`OtherNonoperatingIncomeExpense`	$37.90K	USD	3 Qtrs
Other income (loss)	`OtherNonoperatingIncomeExpense`	$13.86K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingIncomeExpense`	$32.14K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.62M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-886.32K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.09M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.64M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.36M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.19M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-954.11K	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	3 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	3 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.04M	shares	3 Qtrs
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.13M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	69.44M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	68.77M	shares	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$3.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.36M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.19M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-954.11K	USD	1 Quarter
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$424.76K	USD	3 Qtrs
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$984.15K	USD	3 Qtrs
Accretion of interest on long-term debt discount	`AccretionOfDiscount`	$163.24K	USD	3 Qtrs
Shares issued for compensation and services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$57.70K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$57.81K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$60.52K	USD	3 Qtrs
Gain (Loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$-289.04K	USD	3 Qtrs
Gain (Loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$2.70M	USD	3 Qtrs
Gain on purchase of debentures	`OtherNoncashIncomeExpense`	$30.00K	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-52.36K	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.40K	USD	3 Qtrs
Principal increase in debenture	`UnrealizedGainLossOnSecurities`	$-280.01K	USD	3 Qtrs
Shares issued for interest on debenture	`InterestExpenseSubordinatedNotesAndDebentures`	$5.12K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$569.15K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-31.10K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-19.04K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-62.84K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.55K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.08K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$47.31K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-148.87K	USD	3 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-203.56K	USD	3 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-883.87K	USD	3 Qtrs
Purchase of Treasury Stock	`PaymentsForRepurchaseOfCommonStock`	$1.50M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$31.64K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$273.96K	USD	3 Qtrs
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$96.14K	USD	3 Qtrs
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$3.90M	USD	3 Qtrs
Proceeds from sale of oil & natural gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$92.00K	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$44.68K	USD	3 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.68M	USD	3 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.90K	USD	3 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.11K	USD	3 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$217.67K	USD	3 Qtrs
Sale of marketable securities	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.40M	USD	3 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.44M	USD	3 Qtrs
Borrowings on long term debt	`ProceedsFromIssuanceOfLongTermDebt`	$123.59K	USD	3 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.82M	USD	3 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-94.08K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.74M	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-288.73K	USD	3 Qtrs
Cash - beginning	`Cash`	$1.22M	USD	Point-in-time
Cash - beginning	`Cash`	$123.64K	USD	Point-in-time
Cash - beginning	`Cash`	$412.37K	USD	Point-in-time
Cash - beginning	`Cash`	$2.96M	USD	Point-in-time
Cash - ending	`Cash`	$1.22M	USD	Point-in-time
Cash - ending	`Cash`	$123.64K	USD	Point-in-time
Cash - ending	`Cash`	$412.37K	USD	Point-in-time
Cash - ending	`Cash`	$2.96M	USD	Point-in-time
Interest paid	`InterestPaid`	$287.93K	USD	3 Qtrs
Interest paid	`InterestPaid`	$333.98K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Share-based payments issued for services and interest	`StockIssued1`	$177.41K	USD	3 Qtrs
Share-based payments issued for services and interest	`StockIssued1`	$57.70K	USD	3 Qtrs

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