10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171520-16-001102`
Period End Date	20161031
Filing Date	20161215
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	dram-20161031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 65 Cash Flow Statement 57 Stockholders Equity 12

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.00K	USD	Point-in-time
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.95K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$617.01K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.75M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.39M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.33M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.34M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$122.78K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$212.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.26M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$50.75K	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.75K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.15K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.64M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$29.48K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	3.72M	shares	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$326.27K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.64M	shares	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$300.17K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	3.72M	shares	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$4.44M	USD	Point-in-time
Total assets	`Assets`	$5.75M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.78M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$988.26K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$736.92K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$521.08K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$158.87K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$143.84K	USD	Point-in-time
Convertible notes payable related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$80.00K	USD	Point-in-time
Convertible notes payable related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$80.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$107.50K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$71.67K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80M	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`	$1.64K	USD	Point-in-time
Common Stock	`CommonStockValue`	$3.72K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.64M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.44M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.68M	USD	1 Quarter
Revenues	`Revenues`	$6.05M	USD	1 Quarter
Revenues	`Revenues`	$9.59M	USD	2 Qtrs
Revenues	`Revenues`	$13.39M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$8.02M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$4.85M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$3.83M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$10.78M	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$98.08K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$46.28K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$100.24K	USD	2 Qtrs
Engineering	`TechnologyServicesCosts`	$42.05K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.58M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.68M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$6.17M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$10.70M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$13.57M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$4.90M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-123.42K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-178.44K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.10M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-216.16K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-40.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-53.73K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-78.79K	USD	2 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-116.37K	USD	2 Qtrs
Other income (loss)	`OtherNonoperatingGainsLosses`	$-3.28K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingGainsLosses`	$6.88K	USD	1 Quarter
Other income (loss)	`OtherNonoperatingGainsLosses`	$-5.07K	USD	2 Qtrs
Other income (loss)	`OtherNonoperatingGainsLosses`	$7.29K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-83.86K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-109.08K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-46.84K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-43.27K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-170.27K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.19M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-287.52K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-259.44K	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	$190.46K	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	-	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	-	USD	2 Qtrs
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	$190.46K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-97.06K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$20.19K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.22M	USD	Annual
Net income (loss)	`ProfitLoss`	$-259.44K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.19M	USD	2 Qtrs
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$-58.95K	USD	1 Quarter
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	2 Qtrs
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$-121.61K	USD	2 Qtrs
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-38.76K	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-218.67K	USD	2 Qtrs
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-259.44K	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.19M	USD	2 Qtrs
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	2 Qtrs
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	2 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.71M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.04M	shares	2 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.18M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.94M	shares	2 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-97.06K	USD	2 Qtrs
Net loss	`ProfitLoss`	$20.19K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-259.44K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.19M	USD	2 Qtrs
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$35.83K	USD	2 Qtrs
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$35.83K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$68.30K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.10K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$5.22K	USD	2 Qtrs
Bad debt expense	`AllowanceForLoanAndLeaseLossesWriteOffs`	$2.90K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$272.32K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$429.00K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.13M	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.35M	USD	2 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$697.70K	USD	2 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$6.66K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-89.59K	USD	2 Qtrs
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-3.81K	USD	2 Qtrs
Increase (decrease) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-4.67K	USD	2 Qtrs
Increase (decrease) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$19.73K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-215.84K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$33.35K	USD	2 Qtrs
Decrease in accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-15.03K	USD	2 Qtrs
Decrease in accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-107.53K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$291.27K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-274.08K	USD	2 Qtrs
Additions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Additions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	2 Qtrs
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-787.58K	USD	2 Qtrs
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$13.29K	USD	2 Qtrs
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$27.50K	USD	2 Qtrs
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	2 Qtrs
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$503.00K	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$585.79K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-284.57K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$289.71K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.69K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.95K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$617.01K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$617.01K	USD	Point-in-time
Interest	`InterestPaid`	$78.79K	USD	2 Qtrs
Interest	`InterestPaid`	$116.37K	USD	2 Qtrs
Conversion of series B preferred stock into common stock	`ConversionOfStockAmountConverted1`	$3.45M	USD	2 Qtrs
Conversion of series B preferred stock into common stock	`ConversionOfStockAmountConverted1`	-	USD	2 Qtrs
Issuance of common stock for accrued dividend on series A preferred shares	`ConvertiblePreferredStockConvertedToOtherSecurities`	-	USD	2 Qtrs
Issuance of common stock for accrued dividend on series A preferred shares	`ConvertiblePreferredStockConvertedToOtherSecurities`	$174.23K	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$2.64M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.89M	USD	Point-in-time
Stock-based compensation, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$429.00K	USD	2 Qtrs
Conversion of series B preferred stock to restricted common shares, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Issuance of series D preferred stock for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$503.00K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-97.06K	USD	2 Qtrs
Net loss	`ProfitLoss`	$20.19K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-259.44K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.19M	USD	2 Qtrs
Ending balance,value	`StockholdersEquity`	$2.64M	USD	Point-in-time
Ending balance,value	`StockholdersEquity`	$2.89M	USD	Point-in-time

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