10-Q Filing

PLEDGE PETROLEUM CORP CIK: 1434110 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-044746`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	prop-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 76 Cash Flow Statement 46

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$379.23K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Cash	`Cash`	$749.62K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	268.56M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	234.26M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	268.56M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$7.85M	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$25.82K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$16.26K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$395.49K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.94K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.41K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$530.00	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$1.75K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$9.46K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$8.16K	USD	Point-in-time
Total Assets	`Assets`	$8.63M	USD	Point-in-time
Total Assets	`Assets`	$403.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$48.84K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.85K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$6.65K	USD	Point-in-time
Accrued expenses and other payables	`Accruedliabilitiesandotherpayables`	$27.85K	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`	$69.70K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$58.49K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 268,558,931 shares issued, 234,256,464 and 268,558,931 shares outstanding at June 30, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$268.56K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized, 268,558,931 shares issued, 234,256,464 and 268,558,931 shares outstanding at June 30, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$234.26K	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	-	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$8.43M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$27.40M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$28.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.11M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$345.16K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.57M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.63M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$403.65K	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net Revenue	`Revenues`	-	USD	1 Quarter
Net Revenue	`Revenues`	$25.00K	USD	1 Quarter
Net Revenue	`Revenues`	-	USD	2 Qtrs
Net Revenue	`Revenues`	$25.00K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$25.00K	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	$25.00K	USD	1 Quarter
Sales and Marketing	`SellingAndMarketingExpense`	$1.50K	USD	1 Quarter
Sales and Marketing	`SellingAndMarketingExpense`	$2.99K	USD	2 Qtrs
Sales and Marketing	`SellingAndMarketingExpense`	$2.99K	USD	2 Qtrs
Sales and Marketing	`SellingAndMarketingExpense`	$1.50K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$83.61K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$158.51K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$148.36K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$41.82K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$8.30K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$73.15K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$27.44K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$64.89K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$264.28K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$193.08K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$46.99K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$170.48K	USD	2 Qtrs
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$1.31K	USD	1 Quarter
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$2.52K	USD	2 Qtrs
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$1.26K	USD	1 Quarter
Depreciation, amortization and impairment charges	`DepreciationDepletionAndAmortization`	$2.87K	USD	2 Qtrs
Total Expense	`OperatingExpenses`	$501.47K	USD	2 Qtrs
Total Expense	`OperatingExpenses`	$352.14K	USD	2 Qtrs
Total Expense	`OperatingExpenses`	$141.71K	USD	1 Quarter
Total Expense	`OperatingExpenses`	$302.56K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-501.47K	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-116.71K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-302.56K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-327.14K	USD	2 Qtrs
Other income	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Other income	`OtherOperatingIncomeExpenseNet`	-	USD	2 Qtrs
Other income	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Other income	`OtherOperatingIncomeExpenseNet`	$14.66K	USD	2 Qtrs
Finance costs	`FinanceIncomeExpenses`	$44.00	USD	2 Qtrs
Finance costs	`FinanceIncomeExpenses`	$105.00	USD	2 Qtrs
Finance costs	`FinanceIncomeExpenses`	$4.00	USD	1 Quarter
Finance costs	`FinanceIncomeExpenses`	$59.00	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-302.55K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-327.10K	USD	2 Qtrs
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-116.65K	USD	1 Quarter
Loss before Provision for Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-486.70K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-486.70K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-302.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-327.10K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-116.65K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$310.43K	USD	2 Qtrs
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$8.97K	USD	1 Quarter
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$17.85K	USD	2 Qtrs
Undeclared Series B and Series C Preferred stock dividends	`UndeclaredSeriesBAndSeriesCPreferredStockDividends`	$156.07K	USD	1 Quarter
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-272.72K	USD	1 Quarter
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-504.56K	USD	2 Qtrs
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-637.52K	USD	2 Qtrs
Net loss available to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-311.53K	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
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	210.74M	shares	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	268.56M	shares	1 Quarter
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	268.56M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	236.65M	shares	2 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-486.70K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-302.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-327.10K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-116.65K	USD	1 Quarter
Depreciation expense	`Depreciation`	$2.52K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$1.26K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.31K	USD	1 Quarter
Depreciation expense	`Depreciation`	$2.87K	USD	2 Qtrs
Deposit forfeited	`IncreaseDecreaseInSecurityDeposits`	$6.97K	USD	2 Qtrs
Equity based compensation charge	`ShareBasedCompensation`	$18.07K	USD	2 Qtrs
Equity based compensation charge	`ShareBasedCompensation`	$116.67K	USD	1 Quarter
Equity based compensation charge	`ShareBasedCompensation`	$116.67K	USD	2 Qtrs
Equity based compensation charge	`ShareBasedCompensation`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.55K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.12K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.99K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$48.62K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-19.82K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-21.20K	USD	2 Qtrs
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-278.52K	USD	2 Qtrs
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-369.17K	USD	2 Qtrs
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$650.00K	USD	Point-in-time
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Proceeds on disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$650.00K	USD	2 Qtrs
Investment in deposit	`PaymentsToAcquireInvestments`	$530.00	USD	2 Qtrs
Investment in deposit	`PaymentsToAcquireInvestments`	$1.22K	USD	2 Qtrs
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-530.00	USD	2 Qtrs
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$648.78K	USD	2 Qtrs
Share repurchase	`ProceedsFromRepurchaseOfEquity`	$-8.50M	USD	2 Qtrs
Share repurchase	`ProceedsFromRepurchaseOfEquity`	-	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.50M	USD	2 Qtrs
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.22M	USD	2 Qtrs
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-279.05K	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.60M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.89M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.23K	USD	Point-in-time
CASH AT BEGINNING 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`	$8.89M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.23K	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.17M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs

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