10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001171520-11-000705`
Period End Date	20110731
Filing Date	20110914
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	dram-20110731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 54

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$25.00K	USD	Point-in-time
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$225.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$746.70K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$786.10K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	10.70M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	8.93M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $225,000 at July 31, 2011 and April 30, 2011	`AccountsReceivableNet`	$4.63M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $225,000 at July 31, 2011 and April 30, 2011	`AccountsReceivableNet`	$3.84M	USD	Point-in-time
Inventories	`InventoryNet`	$5.46M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	8.93M	shares	Point-in-time
Inventories	`InventoryNet`	$5.33M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	10.70M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$127.28K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$162.31K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.08M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.97M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.93M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.41M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.24M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$13.17M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$13.37M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$12.35M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$12.21M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.03M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$962.25K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$111.14K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$96.61K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$2.53M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$1.94M	USD	Point-in-time
Goodwill	`Goodwill`	$1.30M	USD	Point-in-time
Goodwill	`Goodwill`	$1.24M	USD	Point-in-time
Total assets	`Assets`	$14.82M	USD	Point-in-time
Total assets	`Assets`	$15.04M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.15M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.94M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$840.15K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$904.49K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.50M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.36M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 10,703,309 at July 31, 2011 and 8,928,309 at April 30, 2011	`CommonStockValue`	$10.70M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 10,703,309 at July 31, 2011 and 8,928,309 at April 30, 2011	`CommonStockValue`	$8.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.04M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.82M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$10.27M	USD	1 Quarter
Revenues	`Revenues`	$12.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$7.38M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$9.62M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$181.44K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$274.56K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$894.35K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.08M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.45M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$11.01M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$13.87M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-740.19K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.13M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-102.60K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-16.46K	USD	1 Quarter
Currency loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-11.17K	USD	1 Quarter
Currency loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-96.03K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$2.98K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-113.77K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-109.50K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-853.96K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-853.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.24M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-853.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$279.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$178.57K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$1.41K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$8.85K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$157.81K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$148.25K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.47K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$790.83K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-159.97K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$128.73K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$1.12M	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-35.03K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-122.61K	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$5.18K	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$14.53K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.51M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.01M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.75K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$64.34K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-572.14K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.46M	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$57.36K	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$266.79K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.43K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.07K	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$632.64K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$9.98K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-262.23K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-895.07K	USD	1 Quarter
Payments of short term debt	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.13M	USD	1 Quarter
Payments of short term debt	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$3.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.87M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$401.59K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.72M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$746.70K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$786.10K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$746.70K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$786.10K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash paid during the period for interest	`CashPaidForCapitalizedInterest`	$16.46K	USD	1 Quarter
Cash paid during the period for interest	`CashPaidForCapitalizedInterest`	$92.86K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

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