10-K Filing

AgEagle Aerial Systems Inc. CIK: 8504 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001144204-16-093691`
Period End Date	20151231
Filing Date	20160411
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	enrj-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 49 Cash Flow Statement 71 Stockholders Equity 19

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.66M	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.95M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$13.83M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$14.94M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$805.52K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.10M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.28M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$977.49K	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$3.74M	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$2.53M	USD	Point-in-time
Inventory	`InventoryNet`	$248.22K	USD	Point-in-time
Inventory	`InventoryNet`	$144.33K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.02M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$210.99K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$324.34K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$247.32K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.42M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.41M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.64M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.42M	shares	Point-in-time
Fixed assets, net of accumulated depreciation of $1,658,073 and $1,945,607	`PropertyPlantAndEquipmentGross`	$2.00M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,658,073 and $1,945,607	`PropertyPlantAndEquipmentGross`	$2.40M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $14,935,386 and $13,827,347	`OilAndGasPropertyFullCostMethodNet`	$64.26M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $14,935,386 and $13,827,347	`OilAndGasPropertyFullCostMethodNet`	$11.71M	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`	$919.24K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$993.21K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$68.65M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$14.62M	USD	Point-in-time
Total assets	`Assets`	$21.83M	USD	Point-in-time
Total assets	`Assets`	$76.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$1.99M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$35.59K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.26M	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`	$3.09M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.91M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$23.01M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$16.62M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$390.94K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$20.11M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$25.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.37M	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
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding - 8,423,936 at December 31, 2015 and 7,643,114 at December 31, 2014	`CommonStockValue`	$7.64K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding - 8,423,936 at December 31, 2015 and 7,643,114 at December 31, 2014	`CommonStockValue`	$8.42K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-552.59K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapital`	$63.83M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapital`	$68.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.28M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$46.00M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$-2.53M	USD	Point-in-time
Total liabilities and stockholders (deficit) equity	`LiabilitiesAndStockholdersEquity`	$21.83M	USD	Point-in-time
Total liabilities and stockholders (deficit) equity	`LiabilitiesAndStockholdersEquity`	$76.06M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Crude oil revenues	`OilAndGasSalesRevenue`	$4.53M	USD	Annual
Crude oil revenues	`OilAndGasSalesRevenue`	$13.26M	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$353.63K	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$1.04M	USD	Annual
Total revenues	`OilAndGasRevenue`	$4.88M	USD	Annual
Total revenues	`OilAndGasRevenue`	$14.29M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$6.76M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$4.50M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.55M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.31M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$9.70M	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$11.40M	USD	2 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$48.93M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$16.40M	USD	1 Quarter
Professional fees	`ProfessionalFees`	$680.86K	USD	Annual
Professional fees	`ProfessionalFees`	$987.23K	USD	Annual
Salaries	`SalariesAndWages`	$1.93M	USD	Annual
Salaries	`SalariesAndWages`	$1.48M	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$636.46K	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$790.57K	USD	Annual
Total expenses	`CostsAndExpenses`	$57.99M	USD	Annual
Total expenses	`CostsAndExpenses`	$13.57M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$-53.11M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$724.38K	USD	Annual
Interest expense	`InterestExpense`	$1.31M	USD	Annual
Interest expense	`InterestExpense`	$1.29M	USD	Annual
Gain (loss) on mark to market of derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$6.07M	USD	Annual
Gain (loss) on mark to market of derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-2.19M	USD	Annual
Other income (loss)	`OtherNonoperatingIncomeExpense`	$4.68M	USD	Annual
Other income (loss)	`OtherNonoperatingIncomeExpense`	$-919.53K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$3.85M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.19M	USD	Annual
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-51.92M	USD	Annual
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.57M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$4.57M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$4.57M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.39M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.80M	USD	Annual
Net (loss) income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-53.72M	USD	Annual
Net (loss) income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.18M	USD	Annual
Net (loss) income per common share basic and diluted	`EarningsPerShareDiluted`	$-6.50	USD	Annual
Net (loss) income per common share basic and diluted	`EarningsPerShareDiluted`	$0.42	USD	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.27M	shares	Annual

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$4.57M	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$1.31M	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$3.55M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$9.70M	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$11.40M	USD	2 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$48.93M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$16.40M	USD	1 Quarter
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$638.17K	USD	Annual
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$420.10K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$257.71K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$255.84K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$2.24K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$102.93K	USD	Annual
(Gain) loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-2.19M	USD	Annual
(Gain) loss on derivatives	`UnrealizedGainLossOnDerivatives`	$6.07M	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-9.74K	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.66K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-301.02K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.18M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-103.89K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$9.42K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-77.01K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$27.28K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.90M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$618.83K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.97M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$70.13K	USD	Annual
Cash flows (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-148.68K	USD	Annual
Cash flows (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.64M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$7.88K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$298.90K	USD	Annual
Oil and gas properties additions	`PaymentsToAcquireOilAndGasProperty`	$7.10M	USD	Annual
Oil and gas properties additions	`PaymentsToAcquireOilAndGasProperty`	$251.82K	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$987.94K	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.87M	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$33.14K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$1.25K	USD	Annual
Dividend received from Oakridge Energy	`ProceedsFromDividendsReceived`	$1.36M	USD	Annual
Dividend received from Oakridge Energy	`ProceedsFromDividendsReceived`	-	USD	Annual
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.00M	USD	Annual
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.41M	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOrSaleOfEquity`	$13.35M	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOrSaleOfEquity`	$4.60M	USD	Annual
Repayments of long-term debt	`PaymentsOfDebtIssuanceCosts`	$4.94M	USD	Annual
Repayments of long-term debt	`PaymentsOfDebtIssuanceCosts`	$14.04M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.50M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$500.00K	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.39M	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.80M	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$159.03K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$-73.97K	USD	Annual
Cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.56M	USD	Annual
Cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.26M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-502.67K	USD	Annual
Cash and cash equivalents, beginning	`Cash`	$805.52K	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$3.10M	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$1.31M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$805.52K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$3.10M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$1.31M	USD	Point-in-time
Interest paid	`InterestPaid`	$741.76K	USD	Annual
Interest paid	`InterestPaid`	$840.51K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Share-based payments issued for services	`StockIssued1`	$420.10K	USD	Annual
Share-based payments issued for services	`StockIssued1`	$638.17K	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	-	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	$390.94K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.91M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time
Dividend received from Oakridge Energy	`StockIssuedDuringPeriodValueStockDividend`	$552.59K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueNewIssues`	$234.65K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueNewIssues`	$24.00K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$396.12K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$326.58K	USD	Annual
Sale of common stock	`StockIssuedDuringPeriodSaleOfCommonStockValue`	$825.51K	USD	Annual
Sale of series A preferred stock	`StockIssuedDuringPeriodValueSeriesPreferredStock`	$2.01M	USD	Annual
Sale of series B preferred stock	`StockIssuedDuringPeriodValueSeriesBPreferredStock`	$1.76M	USD	Annual
Issuance of 10% series A cumulative preferred stock and retirement of legacy preferred stock	`StockIssuedDuringPeriodRetirementOfLegacyPreferredStock`	$13.35M	USD	Annual
Preferred stock dividends	`DividendsPreferredStockCash`	$1.39M	USD	Annual
Preferred stock dividends	`DividendsPreferredStockCash`	$2.19M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-51.92M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$4.57M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.91M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time

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