10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001171520-12-001099`
Period End Date	20121031
Filing Date	20121221
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	dram-20121031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 56 Cash Flow Statement 57

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	USD	Point-in-time
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	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`	$345.11K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$543.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$741.38K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	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 $200,000 at October 31, 2012 and April 30, 2012	`AccountsReceivableNet`	$2.65M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $200,000 at October 31, 2012 and April 30, 2012	`AccountsReceivableNet`	$2.60M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	8.93M	shares	Point-in-time
Inventories	`InventoryNet`	$3.82M	USD	Point-in-time
Inventories	`InventoryNet`	$2.93M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	8.93M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	10.70M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$115.65K	USD	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	181,554.00	shares	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	43,900.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$190.08K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.40M	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	$750.00K	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.98M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.98M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$607.87K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$607.87K	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$12.58M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$12.58M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.89M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$12.02M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$566.41K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$698.41K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$54.83K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$296.57K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$214.77K	USD	Point-in-time
Goodwill	`Goodwill`	$1.45M	USD	Point-in-time
Goodwill	`Goodwill`	$1.46M	USD	Point-in-time
Total assets	`Assets`	$11.43M	USD	Point-in-time
Total assets	`Assets`	$10.44M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$120.99K	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$828.66K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$765.62K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$669.07K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$400.00K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$333.33K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.24M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.67M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.90M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 10,703,309 at October 31, 2011 and April 30, 2012	`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 October 31, 2011 and April 30, 2012	`CommonStockValue`	$10.70M	USD	Point-in-time
Treasury stock 181,554 shares as of October 31, 2012 and 43,900 shares as of April 30, 2012 at cost	`TreasuryStockValue`	$187.56K	USD	Point-in-time
Treasury stock 181,554 shares as of October 31, 2012 and 43,900 shares as of April 30, 2012 at cost	`TreasuryStockValue`	$45.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.43M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$14.96M	USD	2 Qtrs
Revenues	`Revenues`	$6.96M	USD	1 Quarter
Revenues	`Revenues`	$10.41M	USD	1 Quarter
Revenues	`Revenues`	$20.68M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$7.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.77M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$15.26M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$12.08M	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$379.36K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$189.73K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$395.84K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$197.93K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.38M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.83M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.54M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$11.46M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$17.02M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$22.47M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$8.15M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.05M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.79M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-95.62K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-198.22K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-142.75K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-71.37K	USD	1 Quarter
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-30.10K	USD	1 Quarter
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-22.50K	USD	2 Qtrs
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$15.55K	USD	1 Quarter
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.27K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-165.25K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-55.82K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-125.72K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-239.49K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.25M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.18M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.03M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.22M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.18M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.22M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-2.03M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.25M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.19	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.21	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.21	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.19	USD	2 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.18M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.22M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-2.03M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$213.80K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$357.13K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$10.42K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$15.05K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$283.19K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$80.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$178.99K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-60.95K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$529.97K	USD	2 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-886.00K	USD	2 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$853.84K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-74.43K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-27.88K	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.09K	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$14.53K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.25M	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-188.67K	USD	2 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-96.55K	USD	2 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$230.93K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.12M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.04M	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$211.05K	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$2.81K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.95K	USD	2 Qtrs
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$907.07K	USD	2 Qtrs
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	2 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	-	USD	2 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	$750.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-752.81K	USD	2 Qtrs
Net borrowings (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.62M	USD	2 Qtrs
Net borrowings (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-422.30K	USD	2 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$133.33K	USD	2 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$3.00M	USD	2 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.26K	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.34M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.58M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$198.42K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.53M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$543.52K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$741.38K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	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`	$543.52K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$741.38K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$181.30K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$80.78K	USD	2 Qtrs

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