10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001171520-13-000758`
Period End Date	20131031
Filing Date	20131216
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	dram-20131031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 63 Cash Flow Statement 63

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$220.00K	USD	Point-in-time
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$602.76K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	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`	$741.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $220,000 at October 31, 2013 and $200,000 at April 30, 2013	`AccountsReceivableNet`	$3.01M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $220,000 at October 31, 2013 and $200,000 at April 30, 2013	`AccountsReceivableNet`	$2.88M	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
Inventories	`InventoryNet`	$2.90M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Inventories	`InventoryNet`	$2.18M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	$275.00K	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.75M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$81.28K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$198.63K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.00M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$11.73M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$450.96K	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`	$1.06M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$774.87K	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.92M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$424.64K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$283.96K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$55.74K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.21K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$132.97K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$51.47K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$7.47M	USD	Point-in-time
Total assets	`Assets`	$8.17M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.88M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$947.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.31M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$684.51K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$981.59K	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`	$4.39M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$566.67K	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.17M	USD	Point-in-time
Authorized 54,000,000 shares; issued and outstanding 2,104,662 at October 31, 2013 and 1,754,662 at April 30, 2013	`CommonStockValue`	$2.10M	USD	Point-in-time
Authorized 54,000,000 shares; issued and outstanding 2,104,662 at October 31, 2013 and 1,754,662 at April 30, 2013	`CommonStockValue`	$1.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.17M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$14.78M	USD	2 Qtrs
Revenues	`Revenues`	$7.41M	USD	1 Quarter
Revenues	`Revenues`	$6.96M	USD	1 Quarter
Revenues	`Revenues`	$14.96M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$5.84M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$12.08M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$11.65M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$5.77M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$299.69K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$395.84K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$619.02K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$189.73K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.54M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.67M	USD	2 Qtrs
Gain on asset disposal	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Gain on asset disposal	`GainLossOnDispositionOfAssets`	$103.00K	USD	2 Qtrs
Gain on asset disposal	`GainLossOnDispositionOfAssets`	$103.00K	USD	1 Quarter
Gain on asset disposal	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.15M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$15.83M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$7.67M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$17.02M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-258.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-176.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-142.75K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-91.58K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-71.37K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-22.50K	USD	2 Qtrs
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$15.55K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$11.38K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$11.54K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-164.45K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-165.25K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-80.20K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-55.82K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.22M	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.25M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.22M	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-338.19K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-1.25M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-338.19K	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-2.22M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.22M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.67	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.70	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.25	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-1.25	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.67	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-1.25M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-338.19K	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-2.22M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.22M	USD	2 Qtrs
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$103.00K	USD	2 Qtrs
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$103.00K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$213.80K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$183.50K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$15.05K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$161.58K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$80.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$38.68K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$18.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$178.99K	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.96K	USD	2 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-60.95K	USD	2 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$721.31K	USD	2 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-886.00K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-117.35K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-74.43K	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.53K	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.09K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-188.67K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$358.51K	USD	2 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-96.55K	USD	2 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-61.25K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.12M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-47.26K	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	-	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$2.81K	USD	2 Qtrs
Sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$500.00K	USD	1 Quarter
Sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$500.00K	USD	2 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	$750.00K	USD	2 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	-	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$500.00K	USD	2 Qtrs
Net cash provided by (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`	$-169.71K	USD	2 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$133.33K	USD	2 Qtrs
Payments under related party note payable	`RepaymentsOfRelatedPartyDebt`	$700.00K	USD	2 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$695.49K	USD	2 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.26K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-174.22K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.34M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$278.52K	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`	$602.76K	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`	$324.24K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$741.38K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$602.76K	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`	$324.24K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$741.38K	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$182.81K	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$151.89K	USD	2 Qtrs

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