10-K Filing

AgEagle Aerial Systems Inc. CIK: 8504 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-021708`
Period End Date	20111231
Filing Date	20120416
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	enrj-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 37 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 84 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`Cash`	$2.77M	USD	Point-in-time
Cash	`Cash`	$169.16K	USD	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`	$357.39K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.45M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	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, 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`	$114.44K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	73.36M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.81M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	73.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.81M	shares	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$253.85K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$529.37K	USD	Point-in-time
Common stock, owned but not issued	`CommonStockSharesSubscribedButUnissued`	61.65M	shares	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$232.51K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$122.78K	USD	Point-in-time
Common stock, owned but not issued	`CommonStockSharesSubscribedButUnissued`	56,250.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.75M	shares	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$131.07K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.75M	shares	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$296.86K	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$7.92M	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$18.68M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$5.64M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$17.84M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$24.32M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$25.76M	USD	Point-in-time
Total assets	`Assets`	$31.42M	USD	Point-in-time
Total assets	`Assets`	$30.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$123.79K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$161.81K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$929.72K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$959.11K	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`	$3.45M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$883.07K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$908.79K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$2.27M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$1.77M	USD	Point-in-time
Long-term debt, net of discount at December 31, 2010	`LongTermDebtNoncurrent`	$3.83M	USD	Point-in-time
Long-term debt, net of discount at December 31, 2010	`LongTermDebtNoncurrent`	$22.11K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.50M	USD	Point-in-time
Consignments and commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Consignments and commitments	`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 -73,355,279 at December 31, 2011 and 5,809,628 at December 31, 2010 and 56,250 and 61,650,241 of owned but not issued stock at December 31, 2011 and 2010, respectively.	`CommonStockValue`	$73.41K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized; shares issued and outstanding -73,355,279 at December 31, 2011 and 5,809,628 at December 31, 2010 and 56,250 and 61,650,241 of owned but not issued stock at December 31, 2011 and 2010, respectively.	`CommonStockValue`	$67.46K	USD	Point-in-time
Treasury stock, 3,750,000 shares	`TreasuryStockValue`	$1.50M	USD	Point-in-time
Equity based compensation unearned	`UnearnedESOPShares`	$230.81K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-552.59K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapital`	$37.66M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapital`	$43.56M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.45M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-18.36M	USD	Point-in-time
Total stockholders' equity Enerjex Resources Inc.	`StockholdersEquity`	$20.90M	USD	Point-in-time
Total stockholders' equity Enerjex Resources Inc.	`StockholdersEquity`	$19.38M	USD	Point-in-time
Non controlling interest in subsidiary	`MinorityInterest`	$565.73K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.97M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.47M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.38M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$31.42M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$30.88M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasRevenue`	$2.93M	USD	3 Qtrs
Oil revenues	`OilAndGasRevenue`	$6.29M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$1.55M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$3.44M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$381.75K	USD	3 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.13M	USD	Annual
Professional fees	`ProfessionalFees`	$1.45M	USD	Annual
Professional fees	`ProfessionalFees`	$748.50K	USD	3 Qtrs
Salaries	`SalariesAndWages`	$242.49K	USD	3 Qtrs
Salaries	`SalariesAndWages`	$502.92K	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$960.74K	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$341.40K	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$3.26M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$7.49M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-333.16K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.20M	USD	Annual
Interest expense	`InterestExpense`	$519.75K	USD	3 Qtrs
Interest expense	`InterestExpense`	$463.02K	USD	Annual
Loss on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-64.36K	USD	3 Qtrs
Loss on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-409.40K	USD	Annual
Other gain	`OtherNonoperatingIncome`	$55.74K	USD	Annual
Other gain	`OtherNonoperatingIncome`	$39.31K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-544.80K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-816.68K	USD	Annual
Net income - (loss)	`NetIncomeLoss`	$-877.96K	USD	Annual
Net income - (loss)	`NetIncomeLoss`	$-877.96K	USD	3 Qtrs
Net income - (loss)	`NetIncomeLoss`	$-2.02M	USD	Annual
Net loss attributed to EnerJex Resources Inc.	`ProfitLoss`	$-877.96K	USD	3 Qtrs
Net loss attributed to EnerJex Resources Inc.	`ProfitLoss`	$-2.04M	USD	Annual
Net income attributed to non-controlling interest in subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$-21.36K	USD	Annual
Net income - (loss)	`NetIncomeLoss`	$-877.96K	USD	Annual
Net income - (loss)	`NetIncomeLoss`	$-877.96K	USD	3 Qtrs
Net income - (loss)	`NetIncomeLoss`	$-2.02M	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	69.03M	shares	Annual
Weighted average shares outstanding	`WeightedAverageNumberBasicDilutedSharesOutstanding`	5.36M	shares	3 Qtrs
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	3 Qtrs
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-877.96K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-877.96K	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-2.02M	USD	Annual
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$1.13M	USD	Annual
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$381.75K	USD	3 Qtrs
Stock and options issued for services and interest	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$223.86K	USD	3 Qtrs
Stock and options issued for services and interest	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$368.28K	USD	Annual
Accretion of interest on long-term debt discount	`AccretionOfDiscount`	-	USD	Annual
Accretion of interest on long-term debt discount	`AccretionOfDiscount`	-	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$58.32K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$87.44K	USD	Annual
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$351.42K	USD	3 Qtrs
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$469.50K	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-47.26K	USD	3 Qtrs
Principal issued on debentures for interest	`UnrealizedGainLossOnSecurities`	$-208.39K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$20.98K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.10M	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$-84.10K	USD	3 Qtrs
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$-30.03K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.25M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$232.34K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-178.31K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-38.02K	USD	Annual
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-761.49K	USD	Annual
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-192.69K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$276.29K	USD	Annual
Additions to oil properties	`PaymentsToAcquireOilAndGasProperty`	$6.29M	USD	Annual
Additions to oil properties	`PaymentsToAcquireOilAndGasProperty`	$1.50M	USD	3 Qtrs
Sale of oil properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$3.83M	USD	Annual
Sale of oil properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$60.00K	USD	3 Qtrs
Proceeds from sale of vehicle	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$28.01K	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.74M	USD	Annual
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.41M	USD	3 Qtrs
Proceeds from (repayment of) note payable, net	`ProceedsFromRepaymentsOfNotesPayable`	$5.00M	USD	3 Qtrs
Sale of marketable securities	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.40M	USD	Annual
Sale of stock	`ProceedsFromIssuanceOfCommonStock`	$3.44M	USD	Annual
Sale of non-controlling interest in subsidiary	`ProceedsFromMinorityShareholders`	$2.35M	USD	Annual
Dividend paid	`PaymentsOfDividends`	$56.26K	USD	Annual
Acquisition of treasury stock	`AcquisitionOfTreasuryStock`	$1.50M	USD	Annual
Cash from oil properties acquired	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$2.30K	USD	3 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$700.00K	USD	Annual
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$604.96K	USD	3 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.02M	USD	Annual
Cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.40M	USD	3 Qtrs
Cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.31M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-191.38K	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.79M	USD	3 Qtrs
Cash and cash equivalents, beginning	`Cash`	$2.77M	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$169.16K	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$2.96M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$2.77M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$169.16K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$2.96M	USD	Point-in-time
Interest paid	`InterestPaid`	$445.37K	USD	Annual
Interest paid	`InterestPaid`	$325.62K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Principal issued on debentures for interest	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$208.39K	USD	3 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.97M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.47M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.38M	USD	Point-in-time
Stock sold	`SaleOfCommonStock`	$3.44M	USD	Annual
Stock sold	`SaleOfCommonStock`	$5.00M	USD	Annual
Amortization of stock options and warrants	`AmortizationUnearnedCompensation`	$305.78K	USD	Annual
Acquistion of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.50M	USD	Annual
Accumulated other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-552.59K	USD	Annual
Gain on sale of non controlling interest in subsidiary	`GainOnSaleOfNonControllingInterestInSubsidiary`	$2.35M	USD	Annual
Dividends paid on preferred stock	`DividendsPreferredStockCash`	$56.26K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-877.96K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-877.96K	USD	3 Qtrs
Net loss for the year	`NetIncomeLoss`	$-2.02M	USD	Annual
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.97M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.47M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.38M	USD	Point-in-time

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