10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001171520-17-000177`
Period End Date	20170131
Filing Date	20170315
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	dram-20170131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 69 Cash Flow Statement 71 Stockholders Equity 12

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.30K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$700.99K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.26M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.75M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.34M	USD	Point-in-time
Inventories, net	`InventoryNet`	$986.61K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$122.78K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$414.78K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.70M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$15.75K	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`	$50.75K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.65M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.15K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$29.48K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$287.12K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.65M	shares	Point-in-time
Capitalized software development costs	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$326.27K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$4.12M	USD	Point-in-time
Total assets	`Assets`	$5.75M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$869.84K	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$884.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$736.92K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$158.87K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$98.42K	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`	$1.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$53.75K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$107.50K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.99M	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`	$1.65K	USD	Point-in-time
Common Stock	`CommonStockValue`	$4.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$29.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-27.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.12M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.75M	USD	Point-in-time

Income Statement 69 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.49M	USD	1 Quarter
Revenues	`Revenues`	$13.09M	USD	3 Qtrs
Revenues	`Revenues`	$6.60M	USD	1 Quarter
Revenues	`Revenues`	$19.99M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$2.92M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$10.94M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$16.08M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$5.30M	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$35.05K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$44.81K	USD	1 Quarter
Engineering	`TechnologyServicesCosts`	$135.29K	USD	3 Qtrs
Engineering	`TechnologyServicesCosts`	$142.89K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.58M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.36M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$998.18K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.68M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$14.66M	USD	3 Qtrs
Total costs and expenses	`CostOfRevenue`	$20.58M	USD	3 Qtrs
Total costs and expenses	`CostOfRevenue`	$3.96M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$7.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-469.86K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-408.14K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-586.58K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.57M	USD	3 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-46.64K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-163.01K	USD	3 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-104.25K	USD	3 Qtrs
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-25.46K	USD	1 Quarter
Other loss	`OtherNonoperatingGainsLosses`	$-4.98K	USD	1 Quarter
Other loss	`OtherNonoperatingGainsLosses`	$-9.96K	USD	3 Qtrs
Other loss	`OtherNonoperatingGainsLosses`	$-10.05K	USD	3 Qtrs
Other loss	`OtherNonoperatingGainsLosses`	$-17.25K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.03K	USD	3 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.03K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-41.85K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-150.93K	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-30.44K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-114.29K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-737.51K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.69M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-449.99K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-500.30K	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	-	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	-	USD	1 Quarter
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	$190.46K	USD	3 Qtrs
Gain on sale of State NOL	`GainLossOnDispositionOfIntangibleAssets`	-	USD	3 Qtrs
Net loss	`ProfitLoss`	$-547.05K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-1.69M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-449.99K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-500.30K	USD	1 Quarter
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$-121.61K	USD	3 Qtrs
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	3 Qtrs
Dividend - Series A preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.69M	USD	3 Qtrs
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-500.30K	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-449.99K	USD	1 Quarter
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-668.66K	USD	3 Qtrs
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	3 Qtrs
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.58	USD	3 Qtrs
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.32	USD	1 Quarter
Net loss per share of common stock basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.16M	shares	3 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.41M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.97M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.29M	shares	3 Qtrs

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-547.05K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-1.69M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-449.99K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-500.30K	USD	1 Quarter
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$53.75K	USD	3 Qtrs
Amortization of deferred gain on sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$53.75K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.15K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$98.10K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$11.38K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$27.22K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$665.82K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$429.00K	USD	3 Qtrs
Gain on convertible debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on convertible debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on convertible debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.03K	USD	3 Qtrs
Gain on convertible debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$22.03K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.48M	USD	3 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.23M	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$532.03K	USD	3 Qtrs
Decrease in inventories	`IncreaseDecreaseInInventories`	$349.05K	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$11.97K	USD	3 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-292.00K	USD	3 Qtrs
Increase (decrease) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$19.73K	USD	3 Qtrs
Increase (decrease) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-4.67K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$147.17K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-123.44K	USD	3 Qtrs
Decrease in accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-60.45K	USD	3 Qtrs
Decrease in accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-136.74K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-760.95K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$390.04K	USD	3 Qtrs
Additions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Additions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	3 Qtrs
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-906.00K	USD	3 Qtrs
Net borrowings (repayments) under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$584.15K	USD	3 Qtrs
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	3 Qtrs
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$27.50K	USD	3 Qtrs
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	3 Qtrs
Proceeds from sale of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$503.00K	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-403.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.16M	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$373.69K	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.96K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$700.99K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.26K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$327.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$700.99K	USD	Point-in-time
Interest	`InterestPaid`	$46.64K	USD	3 Qtrs
Interest	`InterestPaid`	$163.01K	USD	3 Qtrs
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$-121.61K	USD	3 Qtrs
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	3 Qtrs
Non-cash preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Conversion of series B preferred stock into common stock	`ConversionOfStockAmountConverted1`	$233.35K	USD	3 Qtrs
Conversion of series B preferred stock into common stock	`ConversionOfStockAmountConverted1`	$4.05M	USD	3 Qtrs
Issuance of series B preferred stock for extinguishment of convertible notes and accrued interest payable	`ConvertiblePreferredStockConvertedToOtherSecurities`	$600.00K	USD	3 Qtrs
Issuance of series B preferred stock for extinguishment of convertible notes and accrued interest payable	`ConvertiblePreferredStockConvertedToOtherSecurities`	-	USD	3 Qtrs
Exchange of common warrant for series B preferred stock	`ExchangeOfCommonWarrantForSeriesBPreferredStock`	$806.86K	USD	3 Qtrs
Exchange of common warrant for series B preferred stock	`ExchangeOfCommonWarrantForSeriesBPreferredStock`	-	USD	3 Qtrs
Exchange of series A preferred stock for series B preferred stock	`ExchangeOfSeriesPreferredStockForSeriesBPreferredStock`	-	USD	3 Qtrs
Exchange of series A preferred stock for series B preferred stock	`ExchangeOfSeriesPreferredStockForSeriesBPreferredStock`	$1.04M	USD	3 Qtrs
Exchange of interest payable on convertible debt for series B preferred stock	`PaidInKindInterest`	$72.00K	USD	3 Qtrs
Exchange of interest payable on convertible debt for series B preferred stock	`PaidInKindInterest`	-	USD	3 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$2.14M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.89M	USD	Point-in-time
Stock-based compensation, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$429.00K	USD	3 Qtrs
Conversion of series B preferred stock to restricted common shares, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	3 Qtrs
Issuance of series D preferred stock for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$503.00K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-547.05K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-1.69M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-449.99K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-500.30K	USD	1 Quarter
Ending balance,value	`StockholdersEquity`	$2.14M	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.