10-Q Filing

PLEDGE PETROLEUM CORP CIK: 1434110 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-033926`
Period End Date	20180331
Filing Date	20180612
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	prop-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 38 Cash Flow Statement 37

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$749.62K	USD	Point-in-time
Cash	`Cash`	$637.79K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$7.85M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	204.26M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	268.56M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$17.21K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$25.82K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$655.00K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.94K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.67K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$530.00	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$530.00	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$9.46K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$8.20K	USD	Point-in-time
Treasury Stock, Common, Shares	`TreasuryStockCommonShares`	0.00	shares	Point-in-time
Total Assets	`Assets`	$663.20K	USD	Point-in-time
Treasury Stock, Common, Shares	`TreasuryStockCommonShares`	64.30M	shares	Point-in-time
Total Assets	`Assets`	$8.63M	USD	Point-in-time
Treasury Stock Common Stock Par Or Stated Value Per Share	`TreasuryStockCommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.85K	USD	Point-in-time
Treasury Stock Common Stock Par Or Stated Value Per Share	`TreasuryStockCommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$85.72K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$27.85K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$43.43K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$3.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$3.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$132.15K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$69.70K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, and 268,558,931 shares issued as of March 31, 2018 and December 31, 2017 and 204,256,464 and 268,558,931 shares outstanding as of March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$268.56K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, and 268,558,931 shares issued as of March 31, 2018 and December 31, 2017 and 204,256,464 and 268,558,931 shares outstanding as of March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$204.26K	USD	Point-in-time
Treasury Stock, 3,137,500 and 0 Series A-1 Convertible Preferred Stock, $0.01 par value, 4,500,000 and 0 Series C Convertible Preferred Stock, $0.001 par value and 64,302,467 and 0 Common Stock $0.001 par value, as of March 31, 2018 and December 31, 2017, respectively).	`TreasuryStockValue`	$8.43M	USD	Point-in-time
Treasury Stock, 3,137,500 and 0 Series A-1 Convertible Preferred Stock, $0.01 par value, 4,500,000 and 0 Series C Convertible Preferred Stock, $0.001 par value and 64,302,467 and 0 Common Stock $0.001 par value, as of March 31, 2018 and December 31, 2017, respectively).	`TreasuryStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$28.05M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$27.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.11M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.57M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$531.05K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.63M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$663.20K	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net Revenue	`Revenues`	-	USD	1 Quarter
Net Revenue	`Revenues`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Sales and Marketing	`SellingAndMarketingExpense`	$1.50K	USD	1 Quarter
Sales and Marketing	`SellingAndMarketingExpense`	$1.50K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$67.38K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$116.69K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$19.13K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$8.26K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$120.87K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$71.20K	USD	1 Quarter
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$1.55K	USD	1 Quarter
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$1.26K	USD	1 Quarter
Total Expense	`OperatingExpenses`	$198.91K	USD	1 Quarter
Total Expense	`OperatingExpenses`	$210.43K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-210.43K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-198.91K	USD	1 Quarter
Other income	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Other income	`OtherOperatingIncomeExpenseNet`	$14.66K	USD	1 Quarter
Finance costs	`FinanceIncomeExpenses`	$-15.00	USD	1 Quarter
Finance costs	`FinanceIncomeExpenses`	$101.00	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-184.15K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-210.45K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-184.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-210.45K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$154.36K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$8.88K	USD	1 Quarter
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-193.03K	USD	1 Quarter
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-364.80K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	262.84M	shares	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	268.56M	shares	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-184.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-210.45K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.55K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.26K	USD	1 Quarter
Equity based compensation charge	`ShareBasedCompensation`	$18.07K	USD	1 Quarter
Equity based compensation charge	`ShareBasedCompensation`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-8.61K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$23.66K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.36K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$46.88K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$15.57K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-19.81K	USD	1 Quarter
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-254.65K	USD	1 Quarter
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-111.83K	USD	1 Quarter
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$650.00K	USD	1 Quarter
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$650.00K	USD	Point-in-time
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$650.00K	USD	1 Quarter
Share repurchase	`ProceedsFromRepurchaseOfEquity`	$-8.50M	USD	1 Quarter
Share repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.50M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.96M	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-254.65K	USD	1 Quarter
CASH, INCLUDING RESTRICTED AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.17M	USD	Point-in-time
CASH, INCLUDING RESTRICTED AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.60M	USD	Point-in-time
CASH, INCLUDING RESTRICTED AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$637.79K	USD	Point-in-time
CASH, INCLUDING RESTRICTED AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.17M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.60M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$637.79K	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter

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