10-K Filing

AgEagle Aerial Systems Inc. CIK: 8504 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001144204-15-020110`
Period End Date	20141231
Filing Date	20150331
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	enrj-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 44 Cash Flow Statement 70 Stockholders Equity 17

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
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 issued	`PreferredStockSharesIssued`	4.78M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$805.52K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	$228.84K	USD	Point-in-time
Preferred Stock Shares Outstanding	`PreferredStockSharesOutstanding`	4.78M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.28M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$3.74M	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`	7.31M	shares	Point-in-time
Inventory	`InventoryNet`	$248.22K	USD	Point-in-time
Inventory	`InventoryNet`	$238.79K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.64M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.31M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.64M	shares	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.95M	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$373.99K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$324.34K	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.79M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$13.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.41M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$10.57M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.40M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,945,607 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.41M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,945,607 and $1,785,401	`PropertyPlantAndEquipmentGross`	$2.40M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $13,827,347 and $10,567,906	`OilAndGasPropertyFullCostMethodNet`	$61.35M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $13,827,347 and $10,567,906	`OilAndGasPropertyFullCostMethodNet`	$64.26M	USD	Point-in-time
Derivative receivable	`DerivativeAssetsNoncurrent`	$985.75K	USD	Point-in-time
Derivative receivable	`DerivativeAssetsNoncurrent`	-	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$993.21K	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`	$68.65M	USD	Point-in-time
Total assets	`Assets`	$69.99M	USD	Point-in-time
Total assets	`Assets`	$76.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.04M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.14M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.69M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.91M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.34M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesNoncurrent`	$339.64K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$31.55M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$23.01M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$34.57M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$25.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.06M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock Value	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock Value	`PreferredStockValue`	$4.78K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding - 7,643,114 at December 31, 2014 and 7,307,158 at December 31, 2013	`CommonStockValue`	$7.64K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding - 7,643,114 at December 31, 2014 and 7,307,158 at December 31, 2013	`CommonStockValue`	$7.31K	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
Paid in capital	`AdditionalPaidInCapital`	$49.91M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapital`	$63.83M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-17.28M	USD	Point-in-time
Retained (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$46.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$76.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$69.99M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Crude oil revenues	`OilAndGasSalesRevenue`	$10.82M	USD	Annual
Crude oil revenues	`OilAndGasSalesRevenue`	$13.26M	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$117.69K	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$1.04M	USD	Annual
Total revenues	`OilAndGasRevenue`	$14.29M	USD	Annual
Total revenues	`OilAndGasRevenue`	$10.94M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$4.10M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$6.76M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.86M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.55M	USD	Annual
Professional fees	`ProfessionalFees`	$1.07M	USD	Annual
Professional fees	`ProfessionalFees`	$987.23K	USD	Annual
Salaries	`SalariesAndWages`	$1.48M	USD	Annual
Salaries	`SalariesAndWages`	$1.43M	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$790.57K	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$798.46K	USD	Annual
Total expenses	`CostsAndExpenses`	$9.25M	USD	Annual
Total expenses	`CostsAndExpenses`	$13.57M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.69M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$724.38K	USD	Annual
Interest expense	`InterestExpense`	$1.31M	USD	Annual
Interest expense	`InterestExpense`	$772.47K	USD	Annual
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$4.99M	USD	Annual
Gain (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-740.46K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$1.12M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$161.17K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-397.03K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$3.85M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.57M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income	`NetIncomeLoss`	$1.29M	USD	Annual
Net income	`NetIncomeLoss`	$4.57M	USD	Annual
Net income	`NetIncomeLoss`	$1.29M	USD	Annual
Net income	`NetIncomeLoss`	$4.57M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.39M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.04M	USD	Annual
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.18M	USD	Annual
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$250.94K	USD	Annual
Net income (loss) per common share basic and diluted	`EarningsPerShareDiluted`	$0.04	USD	Annual
Net income (loss) per common share basic and diluted	`EarningsPerShareDiluted`	$0.42	USD	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.60M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$1.29M	USD	Annual
Net Income	`NetIncomeLoss`	$4.57M	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$1.86M	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$3.55M	USD	Annual
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$638.17K	USD	Annual
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$255.98K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$139.78K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$255.84K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$36.76K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$102.93K	USD	Annual
(Gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$6.07M	USD	Annual
(Gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$448.94K	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.83K	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-9.74K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.18M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$361.31K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$9.42K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-34.34K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$-235.47K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreasePrepaidExpensesAndSundryDeposits`	$27.28K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$618.83K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-545.11K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$686.44K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.97M	USD	Annual
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.11M	USD	Annual
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.64M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$184.79K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$298.90K	USD	Annual
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$7.67M	USD	Annual
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$7.10M	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$454.98K	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$987.94K	USD	Annual
Settlements of asset retirement obligations	`PaymentOfSettlementsOfAssetRetirementObligations`	$18.91K	USD	Annual
Settlements of asset retirement obligations	`PaymentOfSettlementsOfAssetRetirementObligations`	-	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$1.25K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$12.76K	USD	Annual
Net cash acquired from Black Raven	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash acquired from Black Raven	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-656.69K	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.75M	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.41M	USD	Annual
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$13.35M	USD	Annual
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$9.10K	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$14.04M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.00M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.50M	USD	Annual
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$757.99K	USD	Annual
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.39M	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$825.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$228.26K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$159.03K	USD	Annual
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.18M	USD	Annual
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.26M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$540.70K	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-502.67K	USD	Annual
Cash and cash equivalents, beginning	`Cash`	$767.49K	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$1.31M	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$805.52K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$767.49K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$1.31M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$805.52K	USD	Point-in-time
Interest paid	`InterestPaid`	$741.76K	USD	Annual
Interest paid	`InterestPaid`	$375.93K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Share-based payments issued for services	`StockIssued1`	$216.81K	USD	Annual
Share-based payments issued for services	`StockIssued1`	$638.17K	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	$456.29K	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.91M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.61M	USD	Point-in-time
Stock Issued for Services	`StockIssuedDuringPeriodValueNewIssues`	$45.00K	USD	Annual
Stock Issued for Services	`StockIssuedDuringPeriodValueNewIssues`	$234.65K	USD	Annual
Issuance of Stock Options	`IssuanceOfStockOptions`	$326.58K	USD	Annual
Issuance of Stock Options	`IssuanceOfStockOptions`	$72.43K	USD	Annual
Warrants issued for services	`WarrantsIssuedDuringPeriodSharesIssuedForServices`	$40.79K	USD	Annual
Stock issued for shares of Black Raven Energy, Inc.	`BusinessAcquisitionEquityInterestIssuedValueOfSharesIssued`	$6.89M	USD	Annual
Issuance of 10% series A Cumulative Redeemable Perpetual Preferred Stock and retirement of legacy preferred stock	`StockIssuedDuringPeriodRetirementOfLegacyPreferredStock`	$13.35M	USD	Annual
Dividends Paid on Preferred Stock	`DividendsPreferredStockCash`	$1.04M	USD	Annual
Dividends Paid on Preferred Stock	`DividendsPreferredStockCash`	$1.39M	USD	Annual
Net Income for the Year	`NetIncomeLoss`	$1.29M	USD	Annual
Net Income for the Year	`NetIncomeLoss`	$4.57M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.91M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.61M	USD	Point-in-time

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