10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001171520-16-001006`
Period End Date	20160430
Filing Date	20160729
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	dram-20160430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 38 Cash Flow Statement 76 Stockholders Equity 29

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Allowance for doubtful accounts and sales returns	`AllowanceForDoubtfulAccountsReceivableCurrent`	$140.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$258.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$56.00K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, less allowance of $100 and $140, respectively	`AccountsReceivableNet`	$2.75M	USD	Point-in-time
Accounts receivable, less allowance of $100 and $140, respectively	`AccountsReceivableNet`	$2.17M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.34M	USD	Point-in-time
Inventories, net	`InventoryNet`	$2.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$69.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$123.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$121.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$30.00K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	925,337.00	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.65M	shares	Point-in-time
Capitalized software development costs, net	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$326.00K	USD	Point-in-time
Capitalized software development costs, net	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$366.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	925,337.00	shares	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.65M	shares	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$6.28M	USD	Point-in-time
Total assets	`Assets`	$5.75M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$2.11M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$880.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$737.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$159.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$282.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$600.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$108.00K	USD	Point-in-time
Convertible notes payable related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$80.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.98M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$179.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$107.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.86M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.56M	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	$111.00K	USD	Point-in-time
Shares to be issued	`OtherAdditionalCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.75M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$25.18M	USD	Annual
Revenues	`Revenues`	$28.26M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$20.46M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$24.07M	USD	Annual
Engineering	`TechnologyServicesCosts`	$768.00K	USD	Annual
Engineering	`TechnologyServicesCosts`	$191.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.77M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.17M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$31.01M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$26.42M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.24M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.75M	USD	Annual
Interest expense	`InterestExpense`	$199.00K	USD	Annual
Interest expense	`InterestExpense`	$1.00M	USD	Annual
Foreign currency transactions gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-76.00K	USD	Annual
Foreign currency transactions gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.00K	USD	Annual
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-168.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-1.08M	USD	Annual
Loss before income tax expenses	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.83M	USD	Annual
Loss before income tax expenses	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.41M	USD	Annual
Gain on sale of State NOL	`GainLossOnSaleOfOtherAssets`	-	USD	Annual
Gain on sale of State NOL	`GainLossOnSaleOfOtherAssets`	$190.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$-3.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$-3.00K	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefitNet`	$-187.00K	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefitNet`	$3.00K	USD	Annual
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Dividend-Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$1.76M	USD	Annual
Dividend-Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$122.00K	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.59M	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.34M	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.82	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-6.60	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	846,170.00	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.65M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$131.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	Annual
Bad debt expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$166.00K	USD	Annual
Bad debt expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$50.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$746.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$14.00K	USD	Annual
Amortization of deferred gain in sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$71.00K	USD	Annual
Amortization of deferred gain in sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$72.00K	USD	Annual
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.00K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$750.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.44M	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-741.00K	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$753.00K	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$202.00K	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-54.00K	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-62.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$19.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.00K	USD	Annual
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-558.00K	USD	Annual
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-71.00K	USD	Annual
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-647.00K	USD	Annual
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-123.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-489.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.58M	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	Annual
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	Annual
Software development costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$365.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-394.00K	USD	Annual
Net repayments under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-861.00K	USD	Annual
Net repayments under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-333.00K	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`	$28.00K	USD	Annual
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	Annual
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$2.83M	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$365.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.04M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$239.00K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$69.00K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-271.00K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$258.00K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$56.00K	USD	Point-in-time
Cash and cash equivalents at end 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`	$56.00K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$251.00K	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$199.00K	USD	Annual
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$3.00K	USD	Annual
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$3.00K	USD	Annual
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`	$1.76M	USD	Annual
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$122.00K	USD	Annual
Issuance of common stock for accrued dividend on Series A preferred stock	`StockIssuedDuringPeriodValueStockDividend`	$233.00K	USD	Annual
Issuance of common stock for accrued dividend on Series A preferred stock	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Issuance of preferred B preferred stock for extinguishment of convertible	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	-	USD	Annual
Issuance of preferred B preferred stock for extinguishment of convertible	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$600.00K	USD	Annual
Exchange common warrant for series B preferred stock	`ExchangeOfCommonWarrantForSeriesBPreferredStock`	$807.00K	USD	Annual
Exchange common warrant for series B preferred stock	`ExchangeOfCommonWarrantForSeriesBPreferredStock`	-	USD	Annual
Exchange of series A preferred stock for series B preferred stock	`ExchangeOfSeriesPreferredStockForSeriesBPreferredStock`	-	USD	Annual
Exchange of series A preferred stock for series B preferred stock	`ExchangeOfSeriesPreferredStockForSeriesBPreferredStock`	$1.57M	USD	Annual
Exchange of B preferred stock for accrued interest	`ExchangeOfInterestPayableOnConvertibleDebtForSeriesBPreferredStock`	$72.00K	USD	Annual
Exchange of B preferred stock for accrued interest	`ExchangeOfInterestPayableOnConvertibleDebtForSeriesBPreferredStock`	-	USD	Annual
Conversion of series B preferred stock into common stock	`ConversionOfSeriesBPreferredStockIntoCommonStock`	$50.00K	USD	Annual
Conversion of series B preferred stock into common stock	`ConversionOfSeriesBPreferredStockIntoCommonStock`	-	USD	Annual
Conversion of series A preferred stock into common stock	`ConversionOfSeriesPreferredStockIntoCommonStock`	-	USD	Annual
Conversion of series A preferred stock into common stock	`ConversionOfSeriesPreferredStockIntoCommonStock`	$365.00K	USD	Annual

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$2.12M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.89M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.99M	USD	Point-in-time
Beginning balance, shares	`SharesOutstanding`	2,892.00	shares	Point-in-time
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-3.83M	USD	Annual
Stock-based compensation, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.00K	USD	Annual
Stock-based compensation, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$620.00K	USD	Annual
Fair value detachable warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$562.00K	USD	Annual
Beneficial conversion feature of convertible notes payable	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$188.00K	USD	Annual
Issuance of common shares for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$500.00K	USD	Annual
Issuance of common shares for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$366.00K	USD	Annual
Common shares issued for service, value	`StockIssuedDuringPeriodValueIssuedForServices`	$126.00K	USD	Annual
Issuance of Series A Preferred stock and warrants for cash, value	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$100.00K	USD	Annual
Issuance of Series A Preferred stock and warrants for cash, value	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$2.83M	USD	Annual
Preferred series A shares converted to common shares, value	`ConversionOfStockAmountConverted1`	-	USD	Annual
Non-cash preferred stock dividend	`DividendsPreferredStockStock`	-	USD	Annual
Common shares issued for preferred series A stock dividend, value	`StockIssuedDuringPeriodValueStockDividend`	$233.00K	USD	Annual
Common shares issued for preferred series A stock dividend, value	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Exchange series A preferred stock for series B preferred stock, value	`ExchangeSeriesPreferredStockForSeriesBPreferredStockValue`	-	USD	Annual
Exchange common warrants for series B preferred stock, value	`ExchangeCommonWarrantsForSeriesBPreferredStockValue`	-	USD	Annual
Issuance of series B preferred for extinguishment of convertible debt, value	`StockIssuedDuringPeriodValueOther`	$650.00K	USD	Annual
Conversion of series B preferred stock to common shares, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Conversion of series B preferred stock to common shares, shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	-	USD	Annual
Conversion of series B preferred stock to common shares, shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$600.00K	USD	Annual
Ending balance,value	`StockholdersEquity`	$2.12M	USD	Point-in-time
Ending balance,value	`StockholdersEquity`	$2.89M	USD	Point-in-time
Ending balance,value	`StockholdersEquity`	$1.99M	USD	Point-in-time
Ending balance,shares	`SharesOutstanding`	2,892.00	shares	Point-in-time

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