10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001171520-14-000648`
Period End Date	20140731
Filing Date	20140915
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	dram-20140731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 31 Cash Flow Statement 60 Stockholders Equity 12

Balance Sheet 66 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`	$220.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$257.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$107.83K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.25K	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 July 31, 2014 and $200,000 at April 30, 2014	`AccountsReceivableNet`	$3.66M	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 July 31, 2014 and $200,000 at April 30, 2014	`AccountsReceivableNet`	$3.31M	USD	Point-in-time
Inventories	`InventoryNet`	$2.29M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.41M	shares	Point-in-time
Inventories	`InventoryNet`	$2.02M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$127.14K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.41M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.23K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.41M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.60M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$450.96K	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`	$1.06M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.06M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$840.03K	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$867.02K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$218.80K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$191.80K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$52.21K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$51.16K	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$142.19K	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$7.57M	USD	Point-in-time
Total assets	`Assets`	$7.07M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.97M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$927.94K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$819.35K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$106.67K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable related parties, net of discount	`NotesPayableRelatedPartiesClassifiedCurrent`	$26.67K	USD	Point-in-time
Convertible notes payable related parties, net of discount	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.85M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$250.83K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$232.91K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.09M	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`	$2.41M	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`	$2.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.98M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.07M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.37M	USD	1 Quarter
Revenues	`Revenues`	$7.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.81M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$6.48M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$319.33K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$165.56K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.64M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.16M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.29M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-560.96K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-797.37K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-193.69K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-84.42K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.27K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$161.00	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-195.96K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-84.26K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-881.63K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-756.92K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.85K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-881.63K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-881.63K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$27.00K	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`	$10.40K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$133.33K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$20.94K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.72K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-325.09K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$337.62K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$270.29K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$180.89K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-60.04K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-119.91K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.05K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$39.82K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$251.05K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-135.71K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-108.60K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.88M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.55M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-166.15K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.22M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-582.58K	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$142.19K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.19K	USD	1 Quarter
Net proceeds (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-546.13K	USD	1 Quarter
Net proceeds (payments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$466.17K	USD	1 Quarter
Net payments of note payable to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Net payments of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$100.00K	USD	1 Quarter
Principal payments under capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Principal payments under capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$17.91K	USD	1 Quarter
Proceeds from issuance of convertible notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	$750.00K	USD	1 Quarter
Proceeds from issuance of convertible notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$185.96K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$366.17K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-216.41K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-122.39K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$257.63K	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`	$107.83K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$135.25K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$257.63K	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`	$107.83K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$135.25K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$88.97K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$60.35K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$2.85K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Debt discount on convertible notes payable	`DebtDiscountOnConvertibleNotes`	$750.00K	USD	1 Quarter
Debt discount on convertible notes payable	`DebtDiscountOnConvertibleNotes`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$1.98M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.98M	USD	Point-in-time
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-881.63K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.26M	USD	Annual
Net loss	`ProfitLoss`	$-4.62M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Stock based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.72K	USD	1 Quarter
Issuance of warrants with convertible notes	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$562.00K	USD	1 Quarter
Beneficial conversion feature of convertible notes payable	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$188.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.98M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.98M	USD	Point-in-time

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