10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001493152-17-008303`
Period End Date	20170430
Filing Date	20170731
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	usau-20170430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 72 Stockholders Equity 27

Balance Sheet 60 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`	$155.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$56.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Accounts receivable, less allowance of $50 and $100, respectively	`AccountsReceivableNet`	$1.82M	USD	Point-in-time
Accounts receivable, less allowance of $50 and $100, respectively	`AccountsReceivableNet`	$2.75M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.34M	USD	Point-in-time
Inventories, net	`InventoryNet`	$945.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$442.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$123.00K	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
Total current assets	`AssetsCurrent`	$3.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$16.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$30.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	412,074.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.20M	shares	Point-in-time
Capitalized software development costs, net	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$274.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	412,074.00	shares	Point-in-time
Capitalized software development costs, net	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$326.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Goodwill	`Goodwill`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$4.76M	USD	Point-in-time
Total assets	`Assets`	$5.75M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.34M	USD	Point-in-time
Note payable-revolving credit line	`NotesAndLoansPayable`	$1.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$737.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$102.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$159.00K	USD	Point-in-time
Convertible notes payable - USG	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable - USG	`ConvertibleNotesPayableCurrent`	$250.00K	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`	$2.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$35.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$107.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.81M	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, par value $.001 per share Authorized 54,000,000 common shares; par value $0.001, issued and outstanding 1,204,667 at April 30, 2017 and 412,074 at April 30, 2016	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $.001 per share Authorized 54,000,000 common shares; par value $0.001, issued and outstanding 1,204,667 at April 30, 2017 and 412,074 at April 30, 2016	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$29.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-27.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.12M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$4.76M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$25.18M	USD	Annual
Revenues	`Revenues`	$17.40M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$20.46M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$14.47M	USD	Annual
Engineering	`TechnologyServicesCosts`	$185.00K	USD	Annual
Engineering	`TechnologyServicesCosts`	$191.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.52M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.77M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$19.17M	USD	Annual
Total costs and expenses	`CostOfRevenue`	$26.42M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.77M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.24M	USD	Annual
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-136.00K	USD	Annual
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-199.00K	USD	Annual
Foreign currency transactions gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.00K	USD	Annual
Foreign currency transactions gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.00K	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`	$-148.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.92M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.41M	USD	Annual
Gain on sale of State NOL	`GainLossOnSaleOfOtherAssets`	$-190.00K	USD	Annual
Gain on sale of State NOL	`GainLossOnSaleOfOtherAssets`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$-3.00K	USD	Annual
Total tax benefit (expense)	`IncomeTaxExpenseBenefitNet`	-	USD	Annual
Total tax benefit (expense)	`IncomeTaxExpenseBenefitNet`	$187.00K	USD	Annual
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-1.92M	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.46M	USD	Annual
Net loss allocated to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.34M	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.70	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.28	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	313,853.00	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	910,132.00	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-1.92M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$87.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$131.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$166.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$11.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$476.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$746.00K	USD	Annual
Amortization of deferred gain in sale leaseback	`SaleLeasebackTransactionCurrentPeriodGainRecognized`	$72.00K	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
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$741.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-919.00K	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$-391.00K	USD	Annual
Decrease in inventories	`IncreaseDecreaseInInventories`	$-753.00K	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$319.00K	USD	Annual
Increase in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$54.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-19.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$266.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-71.00K	USD	Annual
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-58.00K	USD	Annual
Decrease in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-123.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-218.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-489.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.00K	USD	Annual
Net repayments under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-333.00K	USD	Annual
Net repayments under revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$-436.00K	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$28.00K	USD	Annual
Proceeds from note payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from note payable	`ProceedsFromNotesPayable`	$250.00K	USD	Annual
Proceeds from sales of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$503.00K	USD	Annual
Proceeds from sales of preferred shares	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$239.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$317.00K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-271.00K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$99.00K	USD	Annual
Cash at beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$155.00K	USD	Point-in-time
Cash at beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$56.00K	USD	Point-in-time
Cash at beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Cash at end of the year	`CashAndCashEquivalentsAtCarryingValue`	$155.00K	USD	Point-in-time
Cash at end of the year	`CashAndCashEquivalentsAtCarryingValue`	$56.00K	USD	Point-in-time
Cash at end of the year	`CashAndCashEquivalentsAtCarryingValue`	$327.00K	USD	Point-in-time
Interest	`InterestPaid`	$199.00K	USD	Annual
Interest	`InterestPaid`	$136.00K	USD	Annual
Taxes	`IncomeTaxesPaidNet`	$3.00K	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Non-cash preferred stock dividends	`NoncashPreferredStockDividends`	$544.00K	USD	Annual
Non-cash preferred stock dividends	`NoncashPreferredStockDividends`	$122.00K	USD	Annual
Issuance of common stock for accrued dividend on Series A preferred stock	`StockIssuedDuringPeriodValueStockDividendOnSeriesAPreferredStock`	-	USD	Annual
Issuance of common stock for accrued dividend on Series A preferred stock	`StockIssuedDuringPeriodValueStockDividendOnSeriesAPreferredStock`	$233.00K	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`	$1.57M	USD	Annual
Exchange of series A preferred stock for series B preferred stock	`ExchangeOfSeriesPreferredStockForSeriesBPreferredStock`	-	USD	Annual
Exchange of B preferred stock for accrued interest	`ExchangeOfBPreferredStockForAccruedInterest`	$72.00K	USD	Annual
Exchange of B preferred stock for accrued interest	`ExchangeOfBPreferredStockForAccruedInterest`	-	USD	Annual
Conversion of series B preferred stock into common stock	`ConversionOfSeriesBPreferredStockIntoCommonStock`	$4.04M	USD	Annual
Conversion of series B preferred stock into common stock	`ConversionOfSeriesBPreferredStockIntoCommonStock`	$50.00K	USD	Annual
Conversion of series A preferred stock into common stock	`ConversionOfSeriesPreferredStockIntoCommonStock`	$365.00K	USD	Annual
Conversion of series A preferred stock into common stock	`ConversionOfSeriesPreferredStockIntoCommonStock`	-	USD	Annual
Conversion of series D preferred stock into common stock	`ConversionOfSeriesDPreferredStockIntoCommonStock`	-	USD	Annual
Conversion of series D preferred stock into common stock	`ConversionOfSeriesDPreferredStockIntoCommonStock`	$503.00K	USD	Annual

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.12M	USD	Point-in-time
Net loss	`ProfitLoss`	$-1.22M	USD	Annual
Net loss	`ProfitLoss`	$-1.92M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$476.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$498.00K	USD	Annual
Issuance of common shares for cash	`StockIssuedDuringPeriodValueNewIssues`	$500.00K	USD	Annual
Common shares surrendered, shares	`StockRepurchasedDuringPeriodShares`	-	shares	Annual
Common shares issued for service	`StockIssuedDuringPeriodValueIssuedForServices`	$126.00K	USD	Annual
Issuance of Series A Preferred Stock and warrants for cash	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$100.00K	USD	Annual
Preferred Series A Preferred Stock converted to common shares	`ConversionOfStockAmountConverted1`	-	USD	Annual
Non-cash preferred series A stock dividend	`DividendsPreferredStockStock`	-	USD	Annual
Common shares issued for preferred series A stock dividend	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Common shares issued for preferred series A stock dividend	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Exchange series A preferred stock for series B preferred stock	`ExchangeSeriesPreferredStockForSeriesBPreferredStockValue`	-	USD	Annual
Exchange common and preferred series A warrants for series B preferred stock	`ExchangeCommonAndPreferredSeriesAWarrantsForSeriesBPreferredStock`	-	USD	Annual
Issuance of series B preferred for extinguishment of convertible debt	`StockIssuedDuringPeriodValueOther`	$650.00K	USD	Annual
Conversion of series B preferred stock to restricted common shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Conversion of series B preferred stock to restricted common shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Restricted common shares issued in exchange of stock options	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$122.00K	USD	Annual
Issuance of series D preferred stock for cash	`StockIssuedDuringPeriodValueNewIssuesOne`	$503.00K	USD	Annual
Issuance of series D preferred stock for dividend	`DividendsPreferredStock`	-	USD	Annual
Conversion of series D preferred stock to restricted common shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesOne`	-	USD	Annual
Balance	`StockholdersEquity`	$1.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.12M	USD	Point-in-time

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