10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001171520-14-000244`
Period End Date	20140131
Filing Date	20140321
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	dram-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 63 Cash Flow Statement 66

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`	$324.24K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$333.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$759.35K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27M	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 $220,000 at October 31, 2013 and $200,000 at April 30, 2013	`AccountsReceivableNet`	$2.66M	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
Inventories	`InventoryNet`	$2.27M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Inventories	`InventoryNet`	$2.90M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetNoncurrent`	$275.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.75M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$81.28K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$65.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.00M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$450.96K	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`	$1.06M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.92M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$816.87K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$424.64K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$241.96K	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`	$10.57K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$132.97K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$6.38M	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`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$947.55K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$684.51K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.01M	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`	$4.25M	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$466.67K	USD	Point-in-time
Due to related party - long term	`DueToRelatedPartiesNoncurrent`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.72M	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 2,104,662 at January 31, 2014 and 1,754,662 at April 30, 2013	`CommonStockValue`	$2.10M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares; issued and outstanding 2,104,662 at January 31, 2014 and 1,754,662 at April 30, 2013	`CommonStockValue`	$1.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.38M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$22.42M	USD	3 Qtrs
Revenues	`Revenues`	$7.64M	USD	1 Quarter
Revenues	`Revenues`	$21.40M	USD	3 Qtrs
Revenues	`Revenues`	$6.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$17.87M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$6.22M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$17.01M	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$152.39K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$922.96K	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$548.22K	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$303.94K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.91M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.07M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.58M	USD	3 Qtrs
Gain on asset disposal	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on asset disposal	`GainLossOnDispositionOfAssets`	$17.92K	USD	1 Quarter
Gain on asset disposal	`GainLossOnDispositionOfAssets`	$120.92K	USD	3 Qtrs
Gain on asset disposal	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Total costs and expenses	`CostOfRevenue`	$8.42M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$7.15M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$24.25M	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`	$-778.04K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.83M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-712.05K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-216.34K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-69.83K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-245.83K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-73.59K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-18.52K	USD	3 Qtrs
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.09K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.97K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$12.63K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-69.61K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-234.86K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-68.74K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-233.19K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.01M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-781.66K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.07M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-846.79K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.07M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-781.66K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.01M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-846.79K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.40	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.44	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.68	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-1.08	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.40	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.44	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.68	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$-1.08	USD	3 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-2.07M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.63M	USD	Annual
Net loss	`ProfitLoss`	$-781.66K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.01M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-846.79K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$17.92K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$120.92K	USD	3 Qtrs
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$266.40K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$327.70K	USD	3 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$57.89K	USD	3 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$174.86K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$205.03K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$5.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$43.40K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$26.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$326.12K	USD	3 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$238.84K	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$630.85K	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$19.43K	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.00	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$15.45K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.09K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.53K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$149.82K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-386.52K	USD	3 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-122.80K	USD	3 Qtrs
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.55K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.67M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-585.64K	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$68.52K	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	-	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.95K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$500.00K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	-	USD	3 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	-	USD	3 Qtrs
Issuance of note receivable	`PaymentsToAcquireNotesReceivable`	$750.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$500.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-824.47K	USD	3 Qtrs
Net proceeds (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.35M	USD	3 Qtrs
Net proceeds (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-133.76K	USD	3 Qtrs
Net payments of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$233.33K	USD	3 Qtrs
Net payments of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$800.00K	USD	3 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$695.49K	USD	3 Qtrs
Net proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$142.26K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-238.27K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$975.77K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-323.90K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.52M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$333.00	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$759.35K	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`	$324.24K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$333.00	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`	$3.27M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$256.67K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$146.82K	USD	3 Qtrs

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