10-Q Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-049335`
Period End Date	20140630
Filing Date	20140813
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	enrj-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 80 Cash Flow Statement 66

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
Cash	`Cash`	$1.08M	USD	Point-in-time
Cash	`Cash`	$639.23K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$228.84K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Preferred Stock Shares Outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.07M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$283.85K	USD	Point-in-time
Inventory	`InventoryNet`	$238.79K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.64M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$625.92K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$373.99K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.40M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	383,333.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.64M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	383,333.00	shares	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.93M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.79M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,933,122 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.30M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,933,122 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.41M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A	`OilAndGasPropertyFullCostMethodNet`	$61.57M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A	`OilAndGasPropertyFullCostMethodNet`	$61.35M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$813.14K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$834.18K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$64.59M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$64.68M	USD	Point-in-time
Total assets	`Assets`	$69.32M	USD	Point-in-time
Total assets	`Assets`	$69.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.28M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.54M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.51M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.69M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.79M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$31.55M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$19.03M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$635.39K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$339.64K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$22.45M	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`	$27.99M	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	$4.78K	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 7,643,114 at June 30, 2014 and 7,281,163 at December 31, 2013	`CommonStockValue`	$7.28K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 7,643,114 at June 30, 2014 and 7,281,163 at December 31, 2013	`CommonStockValue`	$7.64K	USD	Point-in-time
Treasury Stock, 383,333 shares	`TreasuryStockValue`	$2.55M	USD	Point-in-time
Treasury Stock, 383,333 shares	`TreasuryStockValue`	$2.55M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$49.91M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$66.19M	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`	$-20.46M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-21.77M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$28.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$41.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$69.32M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$69.99M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasSalesRevenue`	$7.19M	USD	2 Qtrs
Oil revenues	`OilAndGasSalesRevenue`	$4.53M	USD	2 Qtrs
Oil revenues	`OilAndGasSalesRevenue`	$2.20M	USD	1 Quarter
Oil revenues	`OilAndGasSalesRevenue`	$3.57M	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	-	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	$374.93K	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	-	USD	2 Qtrs
Natural gas revenues	`NaturalGasProductionRevenue`	$617.33K	USD	2 Qtrs
Total revenues	`OilAndGasRevenue`	$7.80M	USD	2 Qtrs
Total revenues	`OilAndGasRevenue`	$2.20M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$4.53M	USD	2 Qtrs
Total revenues	`OilAndGasRevenue`	$3.95M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$1.51M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$751.96K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$3.04M	USD	2 Qtrs
Direct operating costs	`DirectOperatingCosts`	$1.53M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$832.38K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$863.10K	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.60M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$418.56K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$227.21K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$452.12K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$625.48K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$269.26K	USD	1 Quarter
Salaries	`SalariesAndWages`	$431.99K	USD	2 Qtrs
Salaries	`SalariesAndWages`	$185.98K	USD	1 Quarter
Salaries	`SalariesAndWages`	$679.44K	USD	2 Qtrs
Salaries	`SalariesAndWages`	$369.09K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$392.23K	USD	2 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$313.65K	USD	2 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$174.24K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$251.20K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$3.19M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.80M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$6.16M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$3.77M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$765.79K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$758.38K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$396.74K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.64M	USD	2 Qtrs
Interest expense	`InterestExpense`	$358.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$255.37K	USD	2 Qtrs
Interest expense	`InterestExpense`	$737.67K	USD	2 Qtrs
Interest expense	`InterestExpense`	$137.13K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.81M	USD	2 Qtrs
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$407.76K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.41M	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$167.82K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$4.17K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$58.38K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$292.00	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$49.21K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-29.17K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.54M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$319.85K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.77M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$716.59K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$736.62K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.01M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-903.17K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$716.59K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$736.62K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.01M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-903.17K	USD	2 Qtrs
Preferred dividends	`DividendsPreferredStockCash`	$399.45K	USD	2 Qtrs
Preferred dividends	`DividendsPreferredStockCash`	$392.34K	USD	2 Qtrs
Preferred dividends	`DividendsPreferredStockCash`	-	USD	1 Quarter
Preferred dividends	`DividendsPreferredStockCash`	$199.46K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$344.28K	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.01M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.30M	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$517.13K	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareDiluted`	$0.08	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareDiluted`	$0.18	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	7.34M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	4.52M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	7.32M	shares	2 Qtrs
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	4.52M	shares	2 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$716.59K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$736.62K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.01M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-903.17K	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationAndAmortization`	$863.10K	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationAndAmortization`	$1.60M	USD	2 Qtrs
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$359.47K	USD	2 Qtrs
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$140.50K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$56.39K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$127.39K	USD	2 Qtrs
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$30.65K	USD	2 Qtrs
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$36.76K	USD	2 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$590.50K	USD	2 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$-1.01M	USD	2 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.79K	USD	2 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-233.70K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-394.33K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$45.05K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$137.67K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$290.50K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-145.09K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-900.07K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-16.56K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.08M	USD	2 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$356.53K	USD	2 Qtrs
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$991.76K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$41.42K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$39.44K	USD	2 Qtrs
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$3.04M	USD	2 Qtrs
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$2.66M	USD	2 Qtrs
Proceeds from the sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$987.94K	USD	2 Qtrs
Proceeds from the sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$452.12K	USD	2 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.71M	USD	2 Qtrs
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.63M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.02M	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$400.00K	USD	2 Qtrs
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$2.50M	USD	2 Qtrs
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$1.50M	USD	2 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$13.40M	USD	2 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$-21.04K	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$855.74K	USD	2 Qtrs
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$367.65K	USD	2 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$48.04K	USD	2 Qtrs
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.73M	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-536.16K	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-668.97K	USD	2 Qtrs
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$767.49K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$639.23K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$231.33K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$767.49K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$639.23K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$231.33K	USD	Point-in-time
Interest paid	`InterestPaid`	$117.59K	USD	2 Qtrs
Interest paid	`InterestPaid`	$388.33K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Share based payments issued for services	`StockIssued1`	$140.50K	USD	2 Qtrs
Share based payments issued for services	`StockIssued1`	$359.47K	USD	2 Qtrs

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