10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001171520-12-000256`
Period End Date	20120131
Filing Date	20120316
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	dram-20120131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 68 Cash Flow Statement 66

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$225.00K	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
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$465.89K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$738.53K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $225,000 at January 31, 2012 and April 30, 2011	`AccountsReceivableNet`	$4.63M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	10.70M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $225,000 at January 31, 2012 and April 30, 2011	`AccountsReceivableNet`	$2.76M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	8.93M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	10.70M	shares	Point-in-time
Inventories	`InventoryNet`	$5.46M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	8.93M	shares	Point-in-time
Inventories	`InventoryNet`	$3.32M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$127.28K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$96.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.56M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.93M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.97M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$607.87K	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`	$12.58M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$12.21M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.79M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$783.20K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$962.25K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$81.99K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$111.14K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$1.94M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$337.47K	USD	Point-in-time
Goodwill	`Goodwill`	$1.24M	USD	Point-in-time
Goodwill	`Goodwill`	$1.45M	USD	Point-in-time
Total assets	`Assets`	$14.82M	USD	Point-in-time
Total assets	`Assets`	$9.58M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.15M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$705.82K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$858.57K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$840.15K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.50M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$233.33K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.27M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.44M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 10,703,309 at January 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 January 31, 2011 and 8,928,309 at April 30, 2011	`CommonStockValue`	$8.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.38M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.82M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$8.42M	USD	1 Quarter
Revenues	`Revenues`	$29.10M	USD	3 Qtrs
Revenues	`Revenues`	$11.87M	USD	1 Quarter
Revenues	`Revenues`	$35.57M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$27.13M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$8.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$6.75M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.01M	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$250.36K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$560.50K	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$181.14K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$763.36K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	-	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.89M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$134.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.15M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.98M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.17M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.23M	USD	3 Qtrs
Impairment of capitalized software	`ImpairmentOfIntangibleAssetsFinitelived`	$2.39M	USD	3 Qtrs
Impairment of capitalized software	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	3 Qtrs
Impairment of capitalized software	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Impairment of capitalized software	`ImpairmentOfIntangibleAssetsFinitelived`	$2.39M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$12.47M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$34.94M	USD	3 Qtrs
Total costs and expenses	`CostOfRevenue`	$12.53M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$39.01M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-654.74K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.84M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.05M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.45M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-104.88K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-183.52K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-298.29K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-100.08K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-138.64K	USD	3 Qtrs
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-54.01K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-30.46K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-71.73K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-17.02K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-20.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-339.17K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-370.02K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-130.53K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-178.89K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.18M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-833.62K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.21M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.79M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$5.12K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$4.88K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.88K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$5.12K	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.18M	USD	1 Quarter
Net loss	`ProfitLoss`	$-838.74K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.79M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-6.22M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.59	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.43	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.39	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.43	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.39	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.59	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.18M	USD	1 Quarter
Net loss	`ProfitLoss`	$-838.74K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.79M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-6.22M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$525.70K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$779.65K	USD	3 Qtrs
Bad debt expense (recovery)	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$-4.44K	USD	3 Qtrs
Bad debt expense (recovery)	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$17.89K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$461.42K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$378.52K	USD	3 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.47K	USD	3 Qtrs
Impairment of software development costs	`ImpairmentOfIntangibleAssetsFinitelived`	$2.39M	USD	3 Qtrs
Impairment of software development costs	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	3 Qtrs
Impairment of software development costs	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Impairment of software development costs	`ImpairmentOfIntangibleAssetsFinitelived`	$2.39M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.85M	USD	3 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.78M	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$1.76M	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$2.14M	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$30.99K	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-241.24K	USD	3 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$29.15K	USD	3 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$21.62K	USD	3 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.32M	USD	3 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.24M	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.03M	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$18.43K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.60M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.08M	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$211.05K	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$432.07K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$135.21K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.95K	USD	3 Qtrs
Software development cost	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$907.07K	USD	3 Qtrs
Software development cost	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$768.02K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$9.98K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.33M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	3 Qtrs
Net proceeds (payments) of borrowings under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.37M	USD	3 Qtrs
Net proceeds (payments) of borrowings under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-683.05K	USD	3 Qtrs
Net proceeds (payments) of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$-500.00K	USD	3 Qtrs
Net proceeds (payments) of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$500.00K	USD	3 Qtrs
Net proceeds from sale of common shares under stock option plan	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Net proceeds from sale of common shares under stock option plan	`ProceedsFromStockOptionsExercised`	$12.80K	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.00M	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$879.73K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.81M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$393.42K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.04M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$465.89K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$738.53K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$465.89K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$738.53K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Borrowings from and repayments to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$1.50M	USD	3 Qtrs
Borrowings from and repayments to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$277.21K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$179.27K	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$5.12K	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$4.88K	USD	3 Qtrs

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