10-K Filing

AgEagle Aerial Systems Inc. CIK: 8504 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001144204-17-018156`
Period End Date	20161231
Filing Date	20170331
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	enrj-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 49 Cash Flow Statement 72 Stockholders Equity 17

Balance Sheet 69 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`	$1.82M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$15.19M	USD	Point-in-time
Properties using full-cost accounting	`MineralPropertiesAccumulatedDepletion`	$14.94M	USD	Point-in-time
Cash unrestricted	`CashAndCashEquivalentsAtCarryingValue`	$3.10M	USD	Point-in-time
Cash unrestricted	`CashAndCashEquivalentsAtCarryingValue`	$128.03K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$600.25K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$977.49K	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$10.57K	USD	Point-in-time
Derivative receivable	`DerivativeAssetsCurrent`	$2.53M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$144.33K	USD	Point-in-time
Inventory	`InventoryNet`	$185.73K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$210.99K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$210.99K	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
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$493.38K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.42M	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$247.32K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.42M	shares	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
Total current assets	`AssetsCurrent`	$7.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.68M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,817,711 and $1,658,073	`PropertyPlantAndEquipmentGross`	$2.00M	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $1,817,711 and $1,658,073	`PropertyPlantAndEquipmentGross`	$2.08M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $15,189,716 and $14,935,386	`OilAndGasPropertyFullCostMethodNet`	$3.44M	USD	Point-in-time
Oil & gas properties using full cost accounting, net of accumulated DD&A of $15,189,716 and $14,935,386	`OilAndGasPropertyFullCostMethodNet`	$11.71M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$919.24K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$798.81K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$14.62M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$6.31M	USD	Point-in-time
Total assets	`Assets`	$21.83M	USD	Point-in-time
Total assets	`Assets`	$7.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$294.24K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.54M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$1.99M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$17.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.75M	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`	$2.91M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$3.31M	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`	$3.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$390.94K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$6.72M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$20.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.47M	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, 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 December 31, 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`	$69.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-87.58M	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`	$-18.48M	USD	Point-in-time
Total liabilities and stockholders (deficit) equity	`LiabilitiesAndStockholdersEquity`	$7.99M	USD	Point-in-time
Total liabilities and stockholders (deficit) equity	`LiabilitiesAndStockholdersEquity`	$21.83M	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`	$2.39M	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$71.70K	USD	Annual
Natural gas revenues	`NaturalGasProductionRevenue`	$353.63K	USD	Annual
Total revenues	`OilAndGasRevenue`	$4.88M	USD	Annual
Total revenues	`OilAndGasRevenue`	$2.46M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$2.66M	USD	Annual
Direct operating costs	`DirectOperatingCosts`	$4.50M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$413.97K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.31M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$588.07K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$48.93M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$2.10M	USD	2 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$800.00K	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$8.03M	USD	Annual
Professional fees	`ProfessionalFees`	$680.86K	USD	Annual
Professional fees	`ProfessionalFees`	$310.47K	USD	Annual
Salaries	`SalariesAndWages`	$1.93M	USD	Annual
Salaries	`SalariesAndWages`	$1.64M	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$539.57K	USD	Annual
Administrative expense	`GeneralAndAdministrativeExpense`	$636.46K	USD	Annual
Total expenses	`CostsAndExpenses`	$57.99M	USD	Annual
Total expenses	`CostsAndExpenses`	$13.60M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-11.14M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-53.11M	USD	Annual
Interest expense	`InterestExpense`	$1.29M	USD	Annual
Interest expense	`InterestExpense`	$1.91M	USD	Annual
Gain (loss) on mark to market of derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-2.53M	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`	$2.41M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.04M	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`	$-13.18M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net (loss)	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-13.18M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-13.18M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$3.01M	USD	Annual
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.80M	USD	Annual
Net (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.19M	USD	Annual
Net (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-53.72M	USD	Annual
Net (loss) per common share basic and diluted	`EarningsPerShareDiluted`	$-6.50	USD	Annual
Net (loss) per common share basic and diluted	`EarningsPerShareDiluted`	$-1.92	USD	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.42M	shares	Annual
Weighted Average Shares	`WeightedAverageNumberOfSharesOutstandingBasic`	8.27M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-51.92M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-13.18M	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$413.97K	USD	Annual
Depreciation, depletion and amortization	`AdjustmentDepreciationAndDepletion`	$1.31M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$588.07K	USD	1 Quarter
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$48.93M	USD	Annual
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$2.10M	USD	2 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$800.00K	USD	3 Qtrs
Impairment of oil and gas assets	`ImpairmentOfOilAndGasProperties`	$8.03M	USD	Annual
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$241.67K	USD	Annual
Stock, options and warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$420.10K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$225.48K	USD	Annual
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$257.71K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$2.77K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$2.24K	USD	Annual
(Gain) loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-2.52M	USD	Annual
(Gain) loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-2.19M	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.66K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-377.23K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-301.02K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$41.41K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-103.89K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$246.06K	USD	Annual
Deposits and prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-77.01K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-848.60K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.90M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$70.13K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$404.11K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.10M	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-148.68K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$7.88K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$241.68K	USD	Annual
Oil and gas properties additions	`PaymentsToAcquireOilAndGasProperty`	$251.82K	USD	Annual
Oil and gas properties additions	`PaymentsToAcquireOilAndGasProperty`	$17.09K	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.87M	USD	Annual
Sale of oil and gas properties	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$33.14K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	Annual
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$50.00K	USD	Annual
Dividend received from Oakridge Energy	`ProceedsFromDividendsReceived`	$1.36M	USD	Annual
Dividend received from Oakridge Energy	`ProceedsFromDividendsReceived`	-	USD	Annual
Cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.00M	USD	Annual
Cash flows (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-308.77K	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOrSaleOfEquity`	$4.60M	USD	Annual
Repayments of long-term debt	`PaymentsOfDebtIssuanceCosts`	$686.66K	USD	Annual
Repayments of long-term debt	`PaymentsOfDebtIssuanceCosts`	$4.94M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$500.00K	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.80M	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	Annual
Deferred financing costs	`ProceedsFromFinancingCosts`	$120.43K	USD	Annual
Deferred financing costs	`ProceedsFromFinancingCosts`	$73.97K	USD	Annual
Cash flows (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.56M	USD	Annual
Cash flows (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-566.23K	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.97M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30M	USD	Annual
Cash and cash equivalents, beginning	`Cash`	$3.10M	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$805.52K	USD	Point-in-time
Cash and cash equivalents, beginning	`Cash`	$128.03K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$3.10M	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$805.52K	USD	Point-in-time
Cash and cash equivalents, end	`Cash`	$128.03K	USD	Point-in-time
Interest paid	`InterestPaid`	$840.51K	USD	Annual
Interest paid	`InterestPaid`	$922.07K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Share-based payments issued for services	`StockIssued1`	$241.67K	USD	Annual
Share-based payments issued for services	`StockIssued1`	$420.10K	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	$390.94K	USD	Annual
Preferred dividends payable	`PreferredDividendsPayable`	$3.01M	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-18.48M	USD	Point-in-time
Dividend received from Oakridge Energy	`StockIssuedDuringPeriodValueStockDividend`	$552.59K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueNewIssues`	$24.00K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$241.67K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$396.12K	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
Preferred stock dividends	`DividendsPreferredStockCash`	$3.01M	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`	$-13.18M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-18.48M	USD	Point-in-time

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