10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001171520-13-000236`
Period End Date	20130131
Filing Date	20130322
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	dram-20130131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 60 Cash Flow Statement 66

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`	9.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$759.35K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	9.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$738.53K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$345.11K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $200,000 at January 31, 2013 and April 30, 2012	`AccountsReceivableNet`	$2.60M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.78M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.76M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $200,000 at January 31, 2013 and April 30, 2012	`AccountsReceivableNet`	$2.31M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.78M	shares	Point-in-time
Inventories	`InventoryNet`	$2.93M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.76M	shares	Point-in-time
Inventories	`InventoryNet`	$2.91M	USD	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	-	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$115.70K	USD	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	7,317.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$115.65K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.10M	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	$750.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.73M	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`	$12.34M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.89M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.84M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$698.41K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$499.36K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$54.83K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.92K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$173.87K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$296.57K	USD	Point-in-time
Goodwill	`Goodwill`	$1.52M	USD	Point-in-time
Goodwill	`Goodwill`	$1.45M	USD	Point-in-time
Total assets	`Assets`	$11.43M	USD	Point-in-time
Total assets	`Assets`	$9.10M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.47M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$120.99K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$630.81K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.02M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$765.62K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$642.82K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$333.33K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$400.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.15M	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`	$1.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.90M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 9,000,000 shares; 1,755,626 issued and outstanding at January 31, 2013 and 1,783,885 issued and 1,776,568 outstanding at April 30, 2012	`CommonStockValue`	$1.78M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 9,000,000 shares; 1,755,626 issued and outstanding at January 31, 2013 and 1,783,885 issued and 1,776,568 outstanding at April 30, 2012	`CommonStockValue`	$1.76M	USD	Point-in-time
Treasury stock 7,317 shares as of April 30, 2012 at cost	`TreasuryStockValue`	-	USD	Point-in-time
Treasury stock 7,317 shares as of April 30, 2012 at cost	`TreasuryStockValue`	$45.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.43M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.53M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.43M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$29.10M	USD	3 Qtrs
Revenues	`Revenues`	$8.42M	USD	1 Quarter
Revenues	`Revenues`	$21.40M	USD	3 Qtrs
Revenues	`Revenues`	$6.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.01M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$4.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$6.75M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$17.01M	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$560.50K	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$152.39K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$181.14K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$548.22K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.15M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.07M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.98M	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`	$7.15M	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`	$24.17M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.77M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-712.05K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.84M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.05M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-100.08K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-73.59K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-216.34K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-298.29K	USD	3 Qtrs
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-30.46K	USD	1 Quarter
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.97K	USD	1 Quarter
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-18.52K	USD	3 Qtrs
Currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-71.73K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-234.86K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-69.61K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-370.02K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-130.53K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.18M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.21M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-781.66K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.01M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$4.88K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.88K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-781.66K	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.22M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-3.01M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.18M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-2.34	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-3.52	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.44	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.68	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.44	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-2.34	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.68	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-3.52	USD	3 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-781.66K	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.22M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-3.01M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$525.70K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$327.70K	USD	3 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$17.89K	USD	3 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$57.89K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$205.03K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$378.52K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$26.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$95.00K	USD	1 Quarter
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
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.85M	USD	3 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$238.84K	USD	3 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$2.14M	USD	3 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$19.43K	USD	3 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.00	USD	3 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$30.99K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$29.15K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.09K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.24M	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-386.52K	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$18.43K	USD	3 Qtrs
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-122.80K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.67M	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`	$68.52K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.95K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.95K	USD	3 Qtrs
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$907.07K	USD	3 Qtrs
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	3 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	-	USD	3 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	$750.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-824.47K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	3 Qtrs
Net borrowings (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.35M	USD	3 Qtrs
Net borrowings (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-683.05K	USD	3 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$233.33K	USD	3 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$-500.00K	USD	3 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$3.00M	USD	3 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.26K	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$975.77K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.81M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.52M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$393.42K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$759.35K	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`	$345.11K	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`	$759.35K	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`	$345.11K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Borrowings from and repayment to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$1.50M	USD	3 Qtrs
Borrowings from and repayment to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$146.82K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$277.21K	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$4.88K	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

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