10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001171520-13-000597`
Period End Date	20130731
Filing Date	20130916
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	dram-20130731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 31 Cash Flow Statement 51

Balance Sheet 68 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
Allowance for uncollectible loans	`AllowanceForNotesAndLoansReceivableCurrent`	$275.00K	USD	Point-in-time
Allowance for uncollectible loans	`AllowanceForNotesAndLoansReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$107.83K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	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
Accounts receivable, less allowance for doubtful accounts and sales returns of $200,000 at July 31, 2013 and April 30, 2013	`AccountsReceivableNet`	$3.21M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $200,000 at July 31, 2013 and April 30, 2013	`AccountsReceivableNet`	$2.88M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.76M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.78M	shares	Point-in-time
Inventories	`InventoryNet`	$2.72M	USD	Point-in-time
Inventories	`InventoryNet`	$2.90M	USD	Point-in-time
Note receivable, less allowance of $275,000 at July 31, 2013 and $0 at April 30, 2013	`NotesAndLoansReceivableNetNoncurrent`	$275.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.78M	shares	Point-in-time
Note receivable, less allowance of $275,000 at July 31, 2013 and $0 at April 30, 2013	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.76M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$81.28K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$141.32K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.47M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.73M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.73M	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`	$12.34M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$12.34M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.92M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.97M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$424.64K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$373.64K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.74K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.74K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$132.97K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$92.07K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$7.79M	USD	Point-in-time
Total assets	`Assets`	$8.17M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.34M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$947.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$684.51K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$548.80K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$400.00K	USD	Point-in-time
Due to related party - current portion	`DueToRelatedPartiesCurrent`	$400.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.49M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.27M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.17M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 1,754,662 at July 31, 2013 and April 30, 2013	`CommonStockValue`	$1.75M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 1,754,662 at July 31, 2013 and April 30, 2013	`CommonStockValue`	$1.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.17M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.37M	USD	1 Quarter
Revenues	`Revenues`	$8.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$6.30M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.81M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$319.33K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$206.11K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.35M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.86M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.16M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-797.37K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-866.29K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-71.38K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-84.42K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-38.05K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$161.00	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-109.43K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-84.26K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-881.63K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-975.72K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-975.72K	USD	1 Quarter
Net loss	`ProfitLoss`	$-881.63K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.55	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.55	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-975.72K	USD	1 Quarter
Net loss	`ProfitLoss`	$-881.63K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$100.90K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$91.90K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$275.11K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$3.30K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$99.45K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$20.94K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-325.09K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-413.62K	USD	1 Quarter
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$180.89K	USD	1 Quarter
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-869.25K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-384.93K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-60.04K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-26.62K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$251.05K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$154.82K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-119.90K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-135.71K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-582.58K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.43M	USD	1 Quarter
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	-	USD	1 Quarter
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	$375.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-375.00K	USD	1 Quarter
Net borrowings under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$830.40K	USD	1 Quarter
Net borrowings under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$466.17K	USD	1 Quarter
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$33.33K	USD	1 Quarter
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$100.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.26K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$654.80K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$366.17K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.15M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-216.41K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$107.83K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$107.83K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$71.11K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$88.97K	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.