10-K/A Filing

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

Filing Information

Form Type	10-K/A
Accession Number	`0001171520-15-000534`
Period End Date	20150430
Filing Date	20150911
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	dram-20150430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 34 Cash Flow Statement 65 Stockholders Equity 12

Balance Sheet 75 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`	$220.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$258.00K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.30M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $140 at April 30, 2015 and $220 at April 30, 2014	`AccountsReceivableNet`	$2.17M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $140 at April 30, 2015 and $220 at April 30, 2014	`AccountsReceivableNet`	$3.66M	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	626,600.00	shares	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
Raw materials	`InventoryRawMaterials`	$1.58M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Raw materials	`InventoryRawMaterials`	$911.00K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Work in process	`InventoryWorkInProcess`	$2.00K	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$64.00K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.41M	shares	Point-in-time
Finished goods	`InventoryFinishedGoods`	$1.18M	USD	Point-in-time
Finished goods	`InventoryFinishedGoods`	$651.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.41M	shares	Point-in-time
Inventory	`InventoryGross`	$2.29M	USD	Point-in-time
Inventory	`InventoryGross`	$2.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$69.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.22M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$451.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$479.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$608.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$609.00K	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.09M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.06M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$967.00K	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$840.00K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$121.00K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$219.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$51.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$50.00K	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	-	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$365.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$6.28M	USD	Point-in-time
Total assets	`Assets`	$7.57M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.11M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$880.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$282.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$929.00K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$600.00K	USD	Point-in-time
Convertible notes payable related parties, net of discount	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Convertible notes payable related parties, net of discount	`NotesPayableRelatedPartiesClassifiedCurrent`	$108.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.34M	USD	Point-in-time
Other liabilities - related parties	`OtherLiabilitiesNoncurrent`	$179.00K	USD	Point-in-time
Other liabilities - related parties	`OtherLiabilitiesNoncurrent`	$250.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.16M	USD	Point-in-time
Preferred Stock, par value $.01 per share. Authorized 1,300,000 share and 626,600 shares outstanding at April 30, 2015	`PreferredStockValue`	$1.86M	USD	Point-in-time
Preferred Stock, par value $.01 per share. Authorized 1,300,000 share and 626,600 shares outstanding at April 30, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares and 2,776,012 issued and outstanding at April 30, 2015 and 2,410,512 issued and outstanding on April 30, 2014	`CommonStockValue`	$2.41M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares and 2,776,012 issued and outstanding at April 30, 2015 and 2,410,512 issued and outstanding on April 30, 2014	`CommonStockValue`	$2.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$20.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.66M	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	$111.00K	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.12M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.57M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$30.40M	USD	Annual
Revenues	`Revenues`	$28.26M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$24.35M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$24.07M	USD	Annual
Engineering	`TechnologyServicesCosts`	$1.19M	USD	Annual
Engineering	`TechnologyServicesCosts`	$768.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.17M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.18M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$32.72M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$31.01M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.75M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.32M	USD	Annual
Interest income	`InterestAndOtherIncome`	-	USD	Annual
Interest income	`InterestAndOtherIncome`	-	USD	Annual
Interest expense	`InterestExpense`	$1.00M	USD	Annual
Interest expense	`InterestExpense`	$306.00K	USD	Annual
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-76.00K	USD	Annual
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$18.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-288.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.08M	USD	Annual
Loss before income tax expenses	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.61M	USD	Annual
Loss before income tax expenses	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.83M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	Annual
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Less preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	Annual
Less preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$1.76M	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.61M	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.59M	USD	Annual
Basic	`EarningsPerShareBasic`	$-2.20	USD	Annual
Basic	`EarningsPerShareBasic`	$-1.30	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-1.30	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-2.20	USD	Annual

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$300.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	Annual
Bad debt expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$50.00K	USD	Annual
Bad debt expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$186.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$43.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$14.00K	USD	Annual
Amortization of deferred gain in sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$-71.00K	USD	Annual
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-139.00K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$750.00K	USD	Annual
Decrease (increase) in accounts and notes receivable	`IncreaseDecreaseInAccountsReceivable`	$-689.00K	USD	Annual
Decrease (increase) in accounts and notes receivable	`IncreaseDecreaseInAccountsReceivable`	$1.44M	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$612.00K	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$202.00K	USD	Annual
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-62.00K	USD	Annual
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$74.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$5.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$491.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-558.00K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-647.00K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$172.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.58M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.55M	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$365.00K	USD	Annual
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$500.00K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-394.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$500.00K	USD	Annual
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.09M	USD	Annual
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-861.00K	USD	Annual
Proceeds from issuance of notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	-	USD	Annual
Proceeds from issuance of notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	$750.00K	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$42.00K	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Net proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Net proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$2.83M	USD	Annual
Payment of related party note payable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	Annual
Payment of related party note payable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-1.67M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.56M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$365.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$988.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.04M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-66.00K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$69.00K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$258.00K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$258.00K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Debt discount on convertible notes payable	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Debt discount on convertible notes payable	`AmortizationOfDebtDiscountPremium`	$750.00K	USD	Annual
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	Annual
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$1.76M	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$251.00K	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$324.00K	USD	Annual
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$3.00K	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.99M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.12M	USD	Point-in-time
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Net loss	`ProfitLoss`	$-2.61M	USD	Annual
Stock based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$43.00K	USD	Annual
Issuance of shares under registered direct offering	`StockIssuedDuringPeriodValueNewIssues`	$1.56M	USD	Annual
Fair value detachable warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$562.00K	USD	Annual
Beneficial conversion feature of convertible notes payable	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$188.00K	USD	Annual
Ending balance	`StockholdersEquity`	$2.99M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.12M	USD	Point-in-time

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