10-Q Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-030015`
Period End Date	20140331
Filing Date	20140513
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	enrj-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 60

Balance Sheet 78 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`	25.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`Cash`	$1.31M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`Cash`	$1.44M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.56M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$235.24K	USD	Point-in-time
Inventory	`InventoryNet`	$238.79K	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, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$711.03K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	115.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	115.26M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$373.99K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	115.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	115.26M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	5.75M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	5.75M	shares	Point-in-time
Fixed assets, net of accumulated depreciation of $1,857,114 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.41M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.79M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.86M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,857,114 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.42M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A	`OilAndNaturalGasPropertiesFullCostsMethodNotSubjectToAmortization`	$61.35M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A	`OilAndNaturalGasPropertiesFullCostsMethodNotSubjectToAmortization`	$60.91M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$834.18K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$803.28K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$64.12M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$64.59M	USD	Point-in-time
Total assets	`Assets`	$69.99M	USD	Point-in-time
Total assets	`Assets`	$70.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.51M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.52M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.12M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.51M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.75M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.69M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$32.04M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$31.55M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$304.47K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$339.64K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$35.09M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$34.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.23M	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 4,779,460 shares issued and outstanding	`PreferredStockValue`	$4.78K	USD	Point-in-time
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 4,779,460 shares issued and outstanding	`PreferredStockValue`	$4.78K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 115,257,967 at March 31, 2014 and 115,004,045 at December 31, 2013	`CommonStockValue`	$115.00K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 115,257,967 at March 31, 2014 and 115,004,045 at December 31, 2013	`CommonStockValue`	$115.26K	USD	Point-in-time
Treasury Stock, 5,750,000 shares	`TreasuryStockValue`	$2.55M	USD	Point-in-time
Treasury Stock, 5,750,000 shares	`TreasuryStockValue`	$2.55M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$52.36M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$52.60M	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`	$-20.76M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$70.09M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$69.99M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasSalesRevenue`	$3.61M	USD	1 Quarter
Oil revenues	`OilAndGasSalesRevenue`	$2.34M	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	-	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	$242.40K	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$3.85M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$2.34M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$1.53M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$782.07K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$444.54K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$763.76K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$356.22K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$224.90K	USD	1 Quarter
Salaries	`SalariesAndWages`	$310.35K	USD	1 Quarter
Salaries	`SalariesAndWages`	$246.01K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$141.03K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$139.40K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$2.97M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$883.03K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$369.06K	USD	1 Quarter
Interest expense	`InterestExpense`	$118.25K	USD	1 Quarter
Interest expense	`InterestExpense`	$378.93K	USD	1 Quarter
Derivative losses	`GainLossOnDerivativeInstrumentsNetPretax`	$-239.94K	USD	1 Quarter
Derivative losses	`GainLossOnDerivativeInstrumentsNetPretax`	$-404.35K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$3.88K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$9.17K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-349.02K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-779.40K	USD	1 Quarter
Net income	`NetIncomeLoss`	$103.63K	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.04K	USD	1 Quarter
Net income	`NetIncomeLoss`	$103.63K	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.04K	USD	1 Quarter
Preferred dividends	`DividendsPreferredStockCash`	$399.45K	USD	1 Quarter
Preferred dividends	`DividendsPreferredStockCash`	$192.89K	USD	1 Quarter
Net (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-295.81K	USD	1 Quarter
Net (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-172.85K	USD	1 Quarter
Net (loss) per share basic and diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net (loss) per share basic and diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	67.84M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	109.41M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$103.63K	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.04K	USD	1 Quarter
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$444.54K	USD	1 Quarter
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$763.76K	USD	1 Quarter
Shares based payments issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$49.33K	USD	1 Quarter
Shares based payments issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$258.50K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$28.19K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$63.70K	USD	1 Quarter
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-69.29K	USD	1 Quarter
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-28.77K	USD	1 Quarter
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$5.00K	USD	1 Quarter
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	-	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$99.30K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.88K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-3.55K	USD	1 Quarter
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$-26.17K	USD	1 Quarter
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$356.27K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-455.95K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$81.31K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-949.01K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-264.89K	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-101.13K	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-65.85K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$19.60K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$80.14K	USD	1 Quarter
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.50M	USD	1 Quarter
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.23M	USD	1 Quarter
Sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$987.52K	USD	1 Quarter
Sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$15.00K	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.60K	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-327.51K	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.50M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$200.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$1.50M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$500.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$9.10K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Deferred financing costs	`DeferredFinancingCosts`	$-30.90K	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.30M	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$521.81K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-303.09K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$128.45K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$767.49K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$464.40K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$767.49K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$464.40K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Interest paid	`InterestPaid`	$74.50K	USD	1 Quarter
Interest paid	`InterestPaid`	$71.01K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Share based payments issued for services	`StockIssued1`	$258.50K	USD	1 Quarter
Share based payments issued for services	`StockIssued1`	$49.33K	USD	1 Quarter

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