10-Q Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-028659`
Period End Date	20120331
Filing Date	20120514
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	enrj-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 35 Cash Flow Statement 50

Balance Sheet 87 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`	$2.96M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`Cash`	$667.98K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.73M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.45M	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable Securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$249.90K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$114.44K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Derivative Gain	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	73.36M	shares	Point-in-time
Derivative Gain	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	73.40M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	73.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	73.40M	shares	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$529.37K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentGross`	$529.37K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.75M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.75M	shares	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$245.99K	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$232.51K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$296.86K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$283.38K	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$7.92M	USD	Point-in-time
Properties not subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodNotSubjectToAmortization`	$7.94M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$19.25M	USD	Point-in-time
Properties subject to amortization	`OilAndNaturalGasPropertiesFullCostMethodSubjectToAmortization`	$17.84M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$27.18M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$25.76M	USD	Point-in-time
Total assets	`Assets`	$31.13M	USD	Point-in-time
Total assets	`Assets`	$31.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$123.79K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$294.65K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$959.11K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.30M	USD	Point-in-time
Long-term debt, current	`LongTermDebtCurrent`	$7.00K	USD	Point-in-time
Long-term debt, current	`LongTermDebtCurrent`	$7.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.45M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$986.90K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$908.79K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.92M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.83M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$2.19M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$1.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.95M	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments & 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 - 73,395,279 at March 31, 2012 and 73,355,279 at December 31, 2011	`CommonStockValue`	$73.46K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized; shares issued and outstanding - 73,395,279 at March 31, 2012 and 73,355,279 at December 31, 2011	`CommonStockValue`	$73.41K	USD	Point-in-time
Treasury Stock, 3,750,000 shares	`TreasuryStockValue`	$1.50M	USD	Point-in-time
Treasury Stock, 3,750,000 shares	`TreasuryStockValue`	$1.50M	USD	Point-in-time
Equity based compensation unearned	`UnearnedESOPShares`	$211.58K	USD	Point-in-time
Equity based compensation unearned	`UnearnedESOPShares`	$230.81K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$43.59M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$43.56M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-552.59K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-552.59K	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-21.59M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.45M	USD	Point-in-time
Total stockholders' equity EnerJex Resources, Inc.	`StockholdersEquity`	$20.90M	USD	Point-in-time
Total stockholders' equity EnerJex Resources, Inc.	`StockholdersEquity`	$19.82M	USD	Point-in-time
Non controlling interest in subsidiary	`MinorityInterest`	$543.59K	USD	Point-in-time
Non controlling interest in subsidiary	`MinorityInterest`	$565.73K	USD	Point-in-time
Total stockholder's equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.47M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.36M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.42M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasRevenue`	$1.37M	USD	1 Quarter
Oil revenues	`OilAndGasRevenue`	$1.90M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$609.08K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$847.56K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$271.96K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$422.60K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$203.08K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$332.97K	USD	1 Quarter
Salaries	`SalariesAndWages`	$133.88K	USD	1 Quarter
Salaries	`SalariesAndWages`	$118.65K	USD	1 Quarter
Administrative expenses	`GeneralAndAdministrativeExpense`	$243.90K	USD	1 Quarter
Administrative expenses	`GeneralAndAdministrativeExpense`	$204.35K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.65M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.74M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$160.46K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-276.44K	USD	1 Quarter
Interest expense	`InterestExpense`	$67.66K	USD	1 Quarter
Interest expense	`InterestExpense`	$114.21K	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-2.47M	USD	1 Quarter
Gain (loss) on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.19M	USD	1 Quarter
Other income (loss)	`OtherNonoperatingIncomeExpense`	$12.09K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingIncomeExpense`	$12.46K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.57M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.24M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Net loss attributed to EnerJex Resources, Inc.	`ProfitLoss`	$-1.14M	USD	1 Quarter
Net loss attributed to EnerJex Resources, Inc.	`ProfitLoss`	$-2.85M	USD	1 Quarter
Net income attributed to non-controlling interest in subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$-54.21K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.48M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	69.65M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$422.60K	USD	1 Quarter
Depreciation and depletion	`AdjustmentDepreciationAndDepletion`	$276.01K	USD	1 Quarter
Shares issued for compensation and services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$52.94K	USD	1 Quarter
Shares issued for compensation and services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$19.23K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$24.74K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$22.40K	USD	1 Quarter
Gain (Loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$-2.25M	USD	1 Quarter
Gain (Loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$-763.73K	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-630.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$298.30K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$274.10K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$135.47K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$35.45K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$229.94K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.29M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$170.86K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$561.55K	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$184.15K	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.35M	USD	1 Quarter
Purchase of Treasury Stock	`PaymentsForRepurchaseOfCommonStock`	$1.50M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$247.66K	USD	1 Quarter
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.78M	USD	1 Quarter
Additions to oil & gas properties	`PaymentsToAcquireOilAndGasProperty`	$966.55K	USD	1 Quarter
Proceeds from sale of oil & natural gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	-	USD	1 Quarter
Proceeds from sale of oil & natural gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	-	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.71M	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.78M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.63K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.51K	USD	1 Quarter
Sale of marketable securities	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.40M	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.22M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$1.10M	USD	1 Quarter
Distribution to non-controlling interest in subsidiary	`PaymentsForAcquisitionOfNoncontrollingInterestsOfConsolidatedSubsidiaries`	$76.35K	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.62M	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.02M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.10M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.09M	USD	1 Quarter
Cash - beginning	`Cash`	$2.77M	USD	Point-in-time
Cash - beginning	`Cash`	$2.96M	USD	Point-in-time
Cash - beginning	`Cash`	$667.98K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$667.98K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Interest paid	`InterestPaid`	$45.26K	USD	1 Quarter
Interest paid	`InterestPaid`	$189.21K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Share-based payments issued for services and interest	`StockIssued1`	$19.23K	USD	1 Quarter
Share-based payments issued for services and interest	`StockIssued1`	$52.94K	USD	1 Quarter

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