10-Q/A Filing

PLEDGE PETROLEUM CORP CIK: 1434110 Q2 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-12-049931`
Period End Date	20120630
Filing Date	20120906
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	prop-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 46 Cash Flow Statement 69 Stockholders Equity 27

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.54K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.94K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$56.64K	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
Accounts receivable (net of allowances)	`AccountsReceivableNetCurrent`	$781.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.91M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.89M	shares	Point-in-time
Accounts receivable (net of allowances)	`AccountsReceivableNetCurrent`	$718.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.91M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$27.27K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$651.00	USD	Point-in-time
Due from others	`OtherReceivablesNetCurrent`	$591.00	USD	Point-in-time
Due from others	`OtherReceivablesNetCurrent`	$1.57K	USD	Point-in-time
Deposits - current	`DepositsAssetsCurrent`	-	USD	Point-in-time
Deposits - current	`DepositsAssetsCurrent`	$1.85K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$35.67K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.94K	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$3.58K	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$2.50K	USD	Point-in-time
Website URL, net	`IntangibleAssetsNetExcludingGoodwill`	$2.40K	USD	Point-in-time
Website URL, net	`IntangibleAssetsNetExcludingGoodwill`	$1.60K	USD	Point-in-time
Total Assets	`Assets`	$9.04K	USD	Point-in-time
Total Assets	`Assets`	$41.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$187.36K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$290.68K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$168.78K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$80.19K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$340.76K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$456.44K	USD	Point-in-time
Notes payable and advances - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$440.19K	USD	Point-in-time
Notes payable and advances - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$415.19K	USD	Point-in-time
Convertible notes payable - related party	`ConvertibleDebtCurrent`	$1.38M	USD	Point-in-time
Convertible notes payable - related party	`ConvertibleDebtCurrent`	$1.41M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$104.78K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$57.92K	USD	Point-in-time
Liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.22M	USD	Point-in-time
Liabilities from discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.22M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.99M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.79M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized, 37,890,409 issued and outstanding; (25,911,539 issued and outstanding 2011)	`CommonStockValue`	$25.91K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized, 37,890,409 issued and outstanding; (25,911,539 issued and outstanding 2011)	`CommonStockValue`	$37.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.30M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.77M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.75M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$41.65K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$9.04K	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
NET REVENUES	`SalesRevenueNet`	$59.69K	USD	2 Qtrs
NET REVENUES	`SalesRevenueNet`	$11.81K	USD	1 Quarter
NET REVENUES	`SalesRevenueNet`	$31.02K	USD	2 Qtrs
NET REVENUES	`SalesRevenueNet`	$35.98K	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$24.86K	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$41.98K	USD	2 Qtrs
COST OF GOODS SOLD	`CostOfGoodsSold`	$8.42K	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$25.83K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$17.72K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$5.20K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$11.11K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$3.39K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$192.27K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$571.53K	USD	2 Qtrs
OPERATING EXPENSES	`OperatingExpenses`	$313.55K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$469.54K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-302.44K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-188.88K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-553.81K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-464.34K	USD	2 Qtrs
OTHER INCOME - DEBT FORGIVENESS	`NonoperatingIncomeExpense`	-	USD	1 Quarter
OTHER INCOME - DEBT FORGIVENESS	`NonoperatingIncomeExpense`	$99.29K	USD	2 Qtrs
OTHER INCOME - DEBT FORGIVENESS	`NonoperatingIncomeExpense`	-	USD	2 Qtrs
OTHER INCOME - DEBT FORGIVENESS	`NonoperatingIncomeExpense`	$99.29K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-553.81K	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-302.44K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-89.59K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-365.05K	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-553.81K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-302.44K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-89.59K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.67M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-365.05K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.37M	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.49M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.92M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.09M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.20M	shares	2 Qtrs

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-553.81K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-302.44K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-89.59K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.67M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-365.05K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.37M	USD	Annual
Depreciation expense	`Depreciation`	$1.08K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$1.14K	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$800.00	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$800.00	USD	2 Qtrs
Gain on restructuring of liabilities	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Gain on restructuring of liabilities	`GainsLossesOnRestructuringOfDebt`	$99.29K	USD	2 Qtrs
Stock issued as inducement to convert debt	`StockIssuedDuringPeriodValueInducementToAssignConvertibleDebt`	-	USD	2 Qtrs
Stock issued as inducement to convert debt	`StockIssuedDuringPeriodValueInducementToAssignConvertibleDebt`	$2.95K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$94.35K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-4.53K	USD	2 Qtrs
Issuance of stock options in connection with employment services	`ShareBasedCompensation`	$35.00K	USD	2 Qtrs
Issuance of stock options in connection with employment services	`ShareBasedCompensation`	$21.18K	USD	2 Qtrs
Stock issued for services rendered	`IssuanceOfStockForServices`	-	USD	2 Qtrs
Stock issued for services rendered	`IssuanceOfStockForServices`	$20.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.20K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$63.00	USD	2 Qtrs
Due from others	`IncreaseDecreaseInOtherReceivables`	$1.15K	USD	2 Qtrs
Due from others	`IncreaseDecreaseInOtherReceivables`	$984.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$349.00	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-350.00	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.09K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-26.61K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$412.00	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.98K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$48.55K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.70K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$101.97K	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$46.86K	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$91.73K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$118.32K	USD	2 Qtrs
Cash Used In Operating Activities from Continuing Operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-110.81K	USD	2 Qtrs
Cash Used In Operating Activities from Continuing Operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-358.10K	USD	2 Qtrs
Cash Provided by (Used In) Operating Activities from Discontinued Operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	2 Qtrs
Cash Provided by (Used In) Operating Activities from Discontinued Operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-358.10K	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-110.81K	USD	2 Qtrs
Proceeds from notes and loans payable	`ProceedsFromIssuanceOfDebt`	$140.00K	USD	2 Qtrs
Proceeds from notes and loans payable	`ProceedsFromIssuanceOfDebt`	$75.00K	USD	2 Qtrs
Proceeds from convertible note	`ProceedsFromConvertibleDebt`	$32.50K	USD	2 Qtrs
Proceeds from convertible note	`ProceedsFromConvertibleDebt`	$100.00K	USD	Annual
Proceeds from convertible note	`ProceedsFromConvertibleDebt`	$165.00K	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$305.00K	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$107.50K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-53.10K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.31K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.54K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.24K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.64K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.54K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.24K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.94K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.64K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$1.60K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$800.00	USD	2 Qtrs
Convertible notes and interest converted into common stock	`DebtConversionConvertedInstrumentAmount1`	$45.01K	USD	2 Qtrs
Convertible notes and interest converted into common stock	`DebtConversionConvertedInstrumentAmount1`	$9.38K	USD	2 Qtrs
Shares issued for services	`StockIssuedDuringPeriodValueNewIssues`	$60.00K	USD	2 Qtrs

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Shares issued in connection with services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$44.00K	USD	Annual
Shares issued in connection with services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$206.50K	USD	Annual
Shares issued in connection with services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$60.00K	USD	2 Qtrs
Shares issued in connection with conversion from debt to equity	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Shares issued in connection with conversion from debt to equity	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$100.55K	USD	Annual
Recognition of stock based compensation in connection with stock option grants	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$23.72K	USD	Annual
Recognition of stock based compensation in connection with stock option grants	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$92.78K	USD	Annual
Recognition of stock based compensation in connection with stock option grants	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$21.18K	USD	2 Qtrs
Shares issued in connection with the conversion of debt and accrued interest to equity	`StockIssuedDuringPeriodValueConversionOfDebtAndAccruedInterestToEquity`	$56.27K	USD	2 Qtrs
Debt forgiveness by shareholders	`DebtInstrumentDecreaseForgiveness`	$51.56K	USD	2 Qtrs
Shares issued to employees in settlement of wages	`StockIssuedDuringPeriodValueSettlementOfWages`	$3.33K	USD	2 Qtrs
Shares issued as an inducement to assign convertible debt	`StockIssuedDuringPeriodValueInducementToAssignConvertibleDebt`	-	USD	2 Qtrs
Shares issued as an inducement to assign convertible debt	`StockIssuedDuringPeriodValueInducementToAssignConvertibleDebt`	$2.95K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-553.81K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-302.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-89.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-365.05K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.37M	USD	Annual
Balance	`StockholdersEquity`	$-2.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.98M	USD	Point-in-time

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