10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001171520-15-000537`
Period End Date	20150731
Filing Date	20150914
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	dram-20150731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 34 Cash Flow Statement 56 Stockholders Equity 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$130.00K	USD	Point-in-time
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$140.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.30M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$257.63K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.30M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$542.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.25K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	626,600.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	626,600.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $130,000 at July 31, 2015 and $140,000 at April 30, 2015	`AccountsReceivableNet`	$2.67M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts and sales returns of $130,000 at July 31, 2015 and $140,000 at April 30, 2015	`AccountsReceivableNet`	$2.17M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories	`InventoryNet`	$1.87M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories	`InventoryNet`	$2.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$69.08K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$82.96K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	3.30M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.66M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.78M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.16M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	3.30M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	2.78M	shares	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$479.96K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$479.96K	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`	$1.09M	USD	Point-in-time
Property and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.09M	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$966.83K	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$990.83K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$121.00K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$97.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.21K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.21K	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$365.42K	USD	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$365.42K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$6.76M	USD	Point-in-time
Total assets	`Assets`	$6.27M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.11M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$614.24K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$879.57K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$227.22K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$282.28K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$600.00K	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`	$80.00K	USD	Point-in-time
Convertible notes payable related parties, net of discount	`NotesPayableRelatedPartiesClassifiedCurrent`	$107.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.89M	USD	Point-in-time
Other liabilities - related party	`OtherLiabilitiesNoncurrent`	$161.25K	USD	Point-in-time
Other liabilities - related party	`OtherLiabilitiesNoncurrent`	$179.16K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.05M	USD	Point-in-time
Preferred Stock, par value $.01 per share. Authorized 1,300,000 share and 626,600 shares outstanding at July 31, 2015 and 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 July 31, 2015 and April 30, 2015	`PreferredStockValue`	$1.86M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares and 3,301,012 issued and outstanding at July 31, 2015 and 2,776,012 issued and outstanding on April 30, 2015	`CommonStockValue`	$2.78M	USD	Point-in-time
Common stock, par value $1.00 per share. Authorized 54,000,000 shares and 3,301,012 issued and outstanding at July 31, 2015 and 2,776,012 issued and outstanding on April 30, 2015	`CommonStockValue`	$3.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.49M	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	$111.75K	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	$174.41K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.27M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.76M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.34M	USD	1 Quarter
Revenues	`Revenues`	$7.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$6.48M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$53.96K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$165.56K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.64M	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$4.72K	USD	1 Quarter
Stock based compensation expense	`AllocatedShareBasedCompensationExpense`	$212.83K	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$8.29M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$7.39M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-55.02K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-560.96K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-62.64K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-193.69K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.27K	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$408.00	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-195.96K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-62.24K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-756.92K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-117.25K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.85K	USD	1 Quarter
Net loss	`ProfitLoss`	$-117.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Less preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$62.66K	USD	1 Quarter
Less preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-759.77K	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-179.91K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-117.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$24.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$27.00K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$2.08K	USD	1 Quarter
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$10.40K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$133.33K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.72K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$212.83K	USD	1 Quarter
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$-17.91K	USD	1 Quarter
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$-17.92K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-504.14K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$337.62K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$223.58K	USD	1 Quarter
Decrease in inventories	`IncreaseDecreaseInInventories`	$270.29K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-119.91K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-13.89K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.05K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-265.34K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$39.82K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-55.06K	USD	1 Quarter
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-108.60K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-184.07K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-511.10K	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$142.19K	USD	1 Quarter
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.19K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-546.13K	USD	1 Quarter
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$254.14K	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$27.50K	USD	1 Quarter
Net proceeds from sales of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Net proceeds from sales of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	1 Quarter
Proceeds from issuance of notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	$750.00K	USD	1 Quarter
Proceeds from issuance of notes and warrants	`ProceedsFromIssuanceOfConvertibleNotesWarrants`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$203.87K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$726.64K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-122.39K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$215.54K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$257.63K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$542.84K	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`	$327.30K	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`	$542.84K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$135.25K	USD	Point-in-time
Interest	`InterestPaid`	$60.35K	USD	1 Quarter
Interest	`InterestPaid`	$62.64K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.85K	USD	1 Quarter
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 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.12M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.71M	USD	Point-in-time
Net loss	`ProfitLoss`	$-117.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-759.77K	USD	1 Quarter
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$163.08K	USD	1 Quarter
Common shares issued in sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$500.00K	USD	1 Quarter
Common shares issued for service	`StockIssuedDuringPeriodValueIssuedForServices`	$49.75K	USD	1 Quarter
Non-cash preferred stock dividend	`DividendsPreferredStockStock`	-	USD	1 Quarter
Ending balance	`StockholdersEquity`	$2.12M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.71M	USD	Point-in-time

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