10-Q Filing

AgEagle Aerial Systems Inc. CIK: 8504 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-133709`
Period End Date	20160930
Filing Date	20161114
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	enrj-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 84 Cash Flow Statement 70

Balance Sheet 66 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`	$1.77M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$15.14M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$14.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$862.97K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$820.65K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$977.49K	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$2.53M	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$81.55K	USD	Point-in-time
Inventory	`InventoryNet`	$144.33K	USD	Point-in-time
Inventory	`InventoryNet`	$226.13K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$210.99K	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`	$323.59K	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
Common stock, shares issued	`CommonStockSharesIssued`	8.42M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.42M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.42M	shares	Point-in-time
Fixed assets, net of accumulated depreciation of $1,770,469 and $1,658,073	`PropertyPlantAndEquipmentGross`	$2.00M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,770,469 and $1,658,073	`PropertyPlantAndEquipmentGross`	$2.13M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A of $15,135,312 and $14,935,386	`OilAndGasPropertyFullCostMethodNet`	$4.08M	USD	Point-in-time
Oil and gas properties using full-cost accounting, net of accumulated DD&A of $15,135,312 and $14,935,386	`OilAndGasPropertyFullCostMethodNet`	$11.71M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$828.92K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$919.24K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$14.62M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$7.03M	USD	Point-in-time
Total assets	`Assets`	$21.83M	USD	Point-in-time
Total assets	`Assets`	$9.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$380.65K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$770.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$17.93M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$1.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.26M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$3.09M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$3.26M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$16.62M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.52M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$390.94K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$20.11M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$5.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.86M	USD	Point-in-time
Commitments & Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments & 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 September 30, 2016 and December 31, 2015	`CommonStockValue`	$8.42K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 8,423,936 at September 30, 2016 and December 31, 2015	`CommonStockValue`	$8.42K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$68.85M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$69.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-84.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.39M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-2.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-15.30M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$9.56M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$21.83M	USD	Point-in-time

Income Statement 84 line items

Line Item	Tag	Value	Unit	Period
Oil revenues	`OilAndGasSalesRevenue`	$3.82M	USD	3 Qtrs
Oil revenues	`OilAndGasSalesRevenue`	$943.60K	USD	1 Quarter
Oil revenues	`OilAndGasSalesRevenue`	$1.58M	USD	3 Qtrs
Oil revenues	`OilAndGasSalesRevenue`	$454.82K	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	$43.46K	USD	3 Qtrs
Natural gas revenues	`NaturalGasProductionRevenue`	$18.93K	USD	1 Quarter
Natural gas revenues	`NaturalGasProductionRevenue`	$290.25K	USD	3 Qtrs
Natural gas revenues	`NaturalGasProductionRevenue`	$85.79K	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$1.63M	USD	3 Qtrs
Total revenues	`OilAndGasRevenue`	$473.75K	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$1.03M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$4.11M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$859.69K	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$3.31M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$1.92M	USD	3 Qtrs
Direct operating costs	`DirectOperatingCosts`	$569.11K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$112.29K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.20M	USD	3 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$312.32K	USD	3 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$63.64K	USD	1 Quarter
Impairment of oil and gas asset	`ImpairmentOfOilAndGasProperties`	$37.54M	USD	3 Qtrs
Impairment of oil and gas asset	`ImpairmentOfOilAndGasProperties`	$9.72M	USD	1 Quarter
Impairment of oil and gas asset	`ImpairmentOfOilAndGasProperties`	$800.00K	USD	1 Quarter
Impairment of oil and gas asset	`ImpairmentOfOilAndGasProperties`	$7.44M	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$136.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$43.97K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$181.09K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$487.29K	USD	3 Qtrs
Salaries	`SalariesAndWages`	$1.04M	USD	3 Qtrs
Salaries	`SalariesAndWages`	$1.49M	USD	3 Qtrs
Salaries	`SalariesAndWages`	$297.24K	USD	1 Quarter
Salaries	`SalariesAndWages`	$471.76K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$95.70K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$124.09K	USD	1 Quarter
Administrative expense	`GeneralAndAdministrativeExpense`	$525.73K	USD	3 Qtrs
Administrative expense	`GeneralAndAdministrativeExpense`	$435.62K	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$1.90M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$11.34M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$44.55M	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$11.40M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.42M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.37M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.71M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-40.44M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.00M	USD	3 Qtrs
Interest expense	`InterestExpense`	$339.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$306.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$937.64K	USD	3 Qtrs
Gain (loss) on derivatives	`DerivativeGainLossOnDerivativeNet`	$-2.45M	USD	3 Qtrs
Gain (loss) on derivatives	`DerivativeGainLossOnDerivativeNet`	$941.08K	USD	1 Quarter
Gain (loss) on derivatives	`DerivativeGainLossOnDerivativeNet`	$-1.23M	USD	3 Qtrs
Gain (loss) on derivatives	`DerivativeGainLossOnDerivativeNet`	$-68.46K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$138.07K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$3.00M	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$2.31M	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$787.53K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-270.10K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.14M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$826.66K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.85M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-39.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.85M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-39.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.95M	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$2.13M	USD	3 Qtrs
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$586.40K	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.60M	USD	3 Qtrs
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$860.06K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.98M	USD	3 Qtrs
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.55M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-41.21M	USD	3 Qtrs
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-9.53M	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareDiluted`	$-1.54	USD	3 Qtrs
Net loss per share basic and diluted	`EarningsPerShareDiluted`	$-5.02	USD	3 Qtrs
Net loss per share basic and diluted	`EarningsPerShareDiluted`	$-0.30	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareDiluted`	$-1.13	USD	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.21M	shares	3 Qtrs
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.42M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.42M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.42M	shares	3 Qtrs

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.85M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-39.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.95M	USD	1 Quarter
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$312.32K	USD	3 Qtrs
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$1.20M	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$37.54M	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$9.72M	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$800.00K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$7.44M	USD	3 Qtrs
Deferred financing costs	`AmortizationOfFinancingCosts`	$90.32K	USD	3 Qtrs
Deferred financing costs	`AmortizationOfFinancingCosts`	$63.16K	USD	3 Qtrs
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$217.28K	USD	3 Qtrs
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$314.96K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$169.11K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$206.40K	USD	3 Qtrs
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$2.24K	USD	3 Qtrs
Settlement of asset retirement obligation	`AssetRetirementObligationCashPaidToSettle`	$2.77K	USD	3 Qtrs
Loss on derivatives	`DerivativeLossOnDerivative`	$2.45M	USD	3 Qtrs
Loss on derivatives	`DerivativeLossOnDerivative`	$1.63M	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.66K	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-156.84K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-256.05K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$81.81K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-13.53K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$112.33K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$76.26K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-762.19K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.26M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$66.99K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-360.15K	USD	3 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-681.75K	USD	3 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.29M	USD	3 Qtrs
Additions to fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$243.27K	USD	3 Qtrs
Additions to fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$7.57K	USD	3 Qtrs
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$221.52K	USD	3 Qtrs
Additions to oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$16.79K	USD	3 Qtrs
Proceeds from the sale of oil and gas properties	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.87M	USD	3 Qtrs
Proceeds from the sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$33.14K	USD	3 Qtrs
Proceeds from the sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	3 Qtrs
Proceeds from the liquidation of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.36M	USD	3 Qtrs
Cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-260.07K	USD	3 Qtrs
Cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.03M	USD	3 Qtrs
Repayments of debt	`PaymentsOfDebtIssuanceCosts`	$686.66K	USD	3 Qtrs
Repayments of debt	`PaymentsOfDebtIssuanceCosts`	$4.49M	USD	3 Qtrs
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$500.00K	USD	3 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$4.67M	USD	3 Qtrs
Proceeds from sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	3 Qtrs
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	3 Qtrs
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.60M	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-921.68K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-686.66K	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.43M	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.24M	USD	3 Qtrs
Cash - beginning	`Cash`	$3.23M	USD	Point-in-time
Cash - beginning	`Cash`	$805.52K	USD	Point-in-time
Cash - beginning	`Cash`	$862.97K	USD	Point-in-time
Cash - beginning	`Cash`	$3.10M	USD	Point-in-time
Cash - ending	`Cash`	$3.23M	USD	Point-in-time
Cash - ending	`Cash`	$805.52K	USD	Point-in-time
Cash - ending	`Cash`	$862.97K	USD	Point-in-time
Cash - ending	`Cash`	$3.10M	USD	Point-in-time
Interest paid	`InterestPaid`	$462.16K	USD	3 Qtrs
Interest paid	`InterestPaid`	$919.09K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Share based payments issued for services	`StockIssued1`	$217.28K	USD	3 Qtrs
Share based payments issued for services	`StockIssued1`	$314.96K	USD	3 Qtrs

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