10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-010612`
Period End Date	20170731
Filing Date	20170914
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	usau-20170731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 38 Cash Flow Statement 56 Stockholders Equity 11

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$305.66K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetCurrent`	$250.00K	USD	Point-in-time
Prepaid expenses and current assets	`PrepaidExpenseCurrent`	$774.79K	USD	Point-in-time
Prepaid expenses and current assets	`PrepaidExpenseCurrent`	$198.15K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Assets held for sale - current	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.55M	USD	Point-in-time
Assets held for sale - current	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.27M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.67M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$46.48K	USD	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$41.30K	USD	Point-in-time
Mineral rights	`MineralRights`	$4.12M	USD	Point-in-time
Mineral rights	`MineralRights`	$4.12M	USD	Point-in-time
Assets held for sale - long term	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	-	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
Assets held for sale - long term	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$37.98K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.21M	USD	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	54.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Total Assets	`Assets`	$11.43M	USD	Point-in-time
Total Assets	`Assets`	$12.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.93M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$290.48K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.55K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$2.43K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$2.43K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$722.20K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$137.50K	USD	Point-in-time
Liabilities held for sale - current	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.60M	USD	Point-in-time
Liabilities held for sale - current	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.62M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$180.48K	USD	Point-in-time
Liabilities held for sale - long term	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent`	-	USD	Point-in-time
Liabilities held for sale - long term	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent`	$23.89K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.64M	USD	Point-in-time
Total Liabilities	`Liabilities`	$180.48K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value ; 5,000,000 authorized Convertible Series C Preferred stock $0.001 Par Value; 45,002 Shares Authorized; 8,182 and 45,002 issued and outstanding as of July 31, 2017 and April 30, 2017 (Liquidation value $818,200)	`PreferredStockValue`	$8.00	USD	Point-in-time
Preferred stock, $0.001 par value ; 5,000,000 authorized Convertible Series C Preferred stock $0.001 Par Value; 45,002 Shares Authorized; 8,182 and 45,002 issued and outstanding as of July 31, 2017 and April 30, 2017 (Liquidation value $818,200)	`PreferredStockValue`	$45.00	USD	Point-in-time
Common stock $0.001 Par Value; 54,000,000 Shares Authorized; 12,035,816 and 6,932,059 shares issued and outstanding as of July 31, 2017 and April 30, 2017	`CommonStockValue`	$6.93K	USD	Point-in-time
Common stock $0.001 Par Value; 54,000,000 Shares Authorized; 12,035,816 and 6,932,059 shares issued and outstanding as of July 31, 2017 and April 30, 2017	`CommonStockValue`	$12.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.85M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$8.23M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$11.25M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$12.88M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$11.43M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Impairment expenses	`AssetImpairmentCharges`	$6.09M	USD	1 Quarter
Net revenues	`Revenues`	-	USD	1 Quarter
Net revenues	`Revenues`	-	USD	1 Quarter
Impairment expenses	`AssetImpairmentCharges`	-	USD	1 Quarter
Compensation and related taxes	`CompensationAndRelatedTaxes`	$249.10K	USD	1 Quarter
Compensation and related taxes	`CompensationAndRelatedTaxes`	$1.39M	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$111.25K	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$767.88K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$861.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$878.09K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$187.17K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$99.73K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.34M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.21M	USD	1 Quarter
Operating loss from operations from continuing operations	`OperatingIncomeLoss`	$-3.21M	USD	1 Quarter
Operating loss from operations from continuing operations	`OperatingIncomeLoss`	$-1.34M	USD	1 Quarter
Interest expense - related party	`InterestIncomeExpenseNonoperatingNet`	-	USD	1 Quarter
Interest expense - related party	`InterestIncomeExpenseNonoperatingNet`	$-4.24K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-4.24K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.34M	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.21M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.21M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.34M	USD	1 Quarter
Loss from discontinued operations (including impairment expense of 6,094,760)	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Loss from discontinued operations (including impairment expense of 6,094,760)	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-6.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.35	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-1.56	USD	1 Quarter
Loss from held for sale operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Loss from held for sale operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.65	USD	1 Quarter
Total losses	`EarningsPerShareBasicAndDiluted`	$-1.00	USD	1 Quarter
Total losses	`EarningsPerShareBasicAndDiluted`	$-1.56	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.25M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	858,333.00	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$825.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$12.50K	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	$6.09M	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$589.13K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$45.73K	USD	1 Quarter
Assets of held for sale operations - current	`IncreaseDecreaseInDiscontinuedOperationsAssetsCurrent`	$692.50K	USD	1 Quarter
Assets of held for sale operations - current	`IncreaseDecreaseInDiscontinuedOperationsAssetsCurrent`	-	USD	1 Quarter
Reclamation bond deposit	`IncreaseDecreaseInDepositOtherAssets`	$5.18K	USD	1 Quarter
Reclamation bond deposit	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Assets of held for sale operations - long term	`IncreaseDecreaseInDiscontinuedOperationsAssetsNonCurrent`	-	USD	1 Quarter
Assets of held for sale operations - long term	`IncreaseDecreaseInDiscontinuedOperationsAssetsNonCurrent`	$-8.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$934.63K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$90.69K	USD	1 Quarter
Accounts payable and accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedPaties`	$69.09K	USD	1 Quarter
Accounts payable and accrued liabilities - related parties	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedPaties`	-	USD	1 Quarter
Liabilities of held for sale operations - current	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesCurrent`	$552.64K	USD	1 Quarter
Liabilities of held for sale operations - current	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesCurrent`	-	USD	1 Quarter
Liabilities of held for sale operations - long term	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesNonCurrent`	-	USD	1 Quarter
Liabilities of held for sale operations - long term	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesNonCurrent`	$-11.94K	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.97M	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-403.36K	USD	1 Quarter
Acquisition of mineral rights	`PaymentsToAcquireMineralRights`	$288.92K	USD	1 Quarter
Acquisition of mineral rights	`PaymentsToAcquireMineralRights`	-	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-288.92K	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Issuance of preferred stock, net of issuance cost	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$4.59M	USD	1 Quarter
Issuance of preferred stock, net of issuance cost	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$500.00K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$4.59M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.90M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.47M	USD	1 Quarter
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$305.66K	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$305.66K	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Issuance of common stock for the acquisition of mineral rights	`IssuanceOfCommonStockForAcquisitionOfMineralRights`	-	USD	1 Quarter
Issuance of common stock for the acquisition of mineral rights	`IssuanceOfCommonStockForAcquisitionOfMineralRights`	$555.00K	USD	1 Quarter
Grant of stock options for the acquisition of mineral rights	`ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodForAcquisitionOfMineralRights`	$184.97K	USD	1 Quarter
Grant of stock options for the acquisition of mineral rights	`ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodForAcquisitionOfMineralRights`	-	USD	1 Quarter
Issuance of common stock for merger	`IssuanceOfCommonStockForMerger`	-	USD	1 Quarter
Issuance of common stock for merger	`IssuanceOfCommonStockForMerger`	$5.66M	USD	1 Quarter
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServices`	$100.00K	USD	1 Quarter
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServices`	-	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$8.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.25M	USD	Point-in-time
Merger with Dataram Corporation	`StockIssuedDuringPeriodValueOther`	$5.66M	USD	1 Quarter
Shares of common stock to be issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$500.00K	USD	1 Quarter
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Conversion of preferred stock into common stock, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	3.68M	shares	1 Quarter
Issuance of common stock for accrued services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Balance	`StockholdersEquity`	$8.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.25M	USD	Point-in-time

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