10-Q Filing

U.S. GOLD CORP. CIK: 27093 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-013545`
Period End Date	20180731
Filing Date	20180920
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	usau-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 42 Cash Flow Statement 53 Stockholders Equity 22

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.19M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.65M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$813.52K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$632.04K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.01M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.28M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.59M	shares	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$58.25K	USD	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.62M	shares	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$92.93K	USD	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$92.93K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.59M	shares	Point-in-time
Mineral rights	`MineralRights`	$4.18M	USD	Point-in-time
Mineral rights	`MineralRights`	$4.18M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$438.14K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$438.14K	USD	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.71M	USD	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.77M	USD	Point-in-time
Total Assets	`Assets`	$11.77M	USD	Point-in-time
Total Assets	`Assets`	$12.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$262.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$342.24K	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`	$21.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$27.19K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$371.87K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$286.08K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	-	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$60.82K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$432.69K	USD	Point-in-time
Total Liabilities	`Liabilities`	$286.08K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock ($0.001 Par Value; 200,000,000 Shares Authorized; 17,619,084 and 17,590,574 shares issued and outstanding as of July 31, 2018 and April 30, 2018)	`CommonStockValue`	$17.59K	USD	Point-in-time
Common stock ($0.001 Par Value; 200,000,000 Shares Authorized; 17,619,084 and 17,590,574 shares issued and outstanding as of July 31, 2018 and April 30, 2018)	`CommonStockValue`	$17.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$30.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$31.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.23M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$12.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$11.34M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$11.25M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.99M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.77M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Impairment expenses	`AssetImpairmentCharges`	$6.09M	USD	Annual
Net revenues	`Revenues`	-	USD	1 Quarter
Impairment expenses	`AssetImpairmentCharges`	$6.09M	USD	1 Quarter
Net revenues	`Revenues`	-	USD	1 Quarter
Impairment expenses	`AssetImpairmentCharges`	-	USD	1 Quarter
Compensation and related taxes	`CompensationAndRelatedTaxes`	$301.76K	USD	1 Quarter
Compensation and related taxes	`CompensationAndRelatedTaxes`	$1.39M	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$767.88K	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$504.82K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$541.34K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$861.46K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$133.57K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$187.17K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.48M	USD	1 Quarter
Operating loss from continuing operations	`OperatingIncomeLoss`	$-3.21M	USD	1 Quarter
Operating loss from continuing operations	`OperatingIncomeLoss`	$-1.48M	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.21M	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.48M	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`	$-1.48M	USD	1 Quarter
Loss from discontinued operations (including impairment expense of $6,094,760)	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-5.93M	USD	Annual
Loss from discontinued operations (including impairment expense of $6,094,760)	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-6.07M	USD	1 Quarter
Loss from discontinued operations (including impairment expense of $6,094,760)	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Total loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-5.83M	USD	Annual
Total loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Total loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-6.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.35	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.08	USD	1 Quarter
Operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.65	USD	1 Quarter
Total discontinuing operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Total discontinuing operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.65	USD	1 Quarter
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-1.00	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`	17.61M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Depreciation	`Depreciation`	$1.32K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Accretion	`AccretionExpense`	-	USD	Annual
Accretion	`AccretionExpense`	$1.25K	USD	1 Quarter
Accretion	`AccretionExpense`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$12.50K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$110.14K	USD	1 Quarter
Amortization of prepaid stock based expenses	`AmortizationOfPrepaidStockBasedExpenses`	-	USD	1 Quarter
Amortization of prepaid stock based expenses	`AmortizationOfPrepaidStockBasedExpenses`	$105.19K	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	$6.09M	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$6.09M	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$286.68K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$589.13K	USD	1 Quarter
Assets of held for sale operations, discontinued - current	`IncreaseDecreaseInDiscontinuedOperationsAssetsCurrent`	$692.50K	USD	1 Quarter
Assets of held for sale operations, discontinued - current	`IncreaseDecreaseInDiscontinuedOperationsAssetsCurrent`	-	USD	1 Quarter
Reclamation bond deposit and other assets	`IncreaseDecreaseInDepositOtherAssets`	$5.18K	USD	1 Quarter
Reclamation bond deposit and other assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Assets of held for sale operations, discontinued - long term	`AssetsOfHeldForSaleOperationsDiscontinuedLongTerm`	$8.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$98.29K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$934.63K	USD	1 Quarter
Liabilities of held for sale operations, discontinued - current	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesCurrent`	$552.64K	USD	1 Quarter
Liabilities of held for sale operations, discontinued - current	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesCurrent`	-	USD	1 Quarter
Liabilities of held for sale operations, discontinued - long term	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesNonCurrent`	-	USD	1 Quarter
Liabilities of held for sale operations, discontinued - long term	`IncreaseDecreaseInDiscontinuedOperationsLiabilitiesNonCurrent`	$-11.94K	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.45M	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.97M	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`	-	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.47M	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.45M	USD	1 Quarter
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.19M	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.65M	USD	Point-in-time
CASH - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.19M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.65M	USD	Point-in-time
CASH - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Increase in asset retirement obligation	`IncreaseInAssetRetirementObligation`	-	USD	1 Quarter
Increase in asset retirement obligation	`IncreaseInAssetRetirementObligation`	$59.57K	USD	1 Quarter
Issuance of common stock for merger	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock for merger	`StockIssued1`	$5.66M	USD	1 Quarter
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServicesNonCash`	$100.00K	USD	1 Quarter
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServicesNonCash`	-	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$12.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.25M	USD	Point-in-time
Recapitalization of the Company	`RecapitalizationOfCompany`	$5.66M	USD	Annual
Issuance of common stock for cash	`StockIssuedDuringPeriodValueNewIssues`	$2.59M	USD	Annual
Issuance of preferred stock and warrants for cash	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$4.92M	USD	Annual
Issuance of common stock for the acquisition of mineral rights	`StockIssuedDuringPeriodValueAcquisitions`	$35.85K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$76.51K	USD	1 Quarter
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.14M	USD	Annual
Issuance of common stock for prepaid services	`StockIssuedDuringPeriodValueOther`	$280.82K	USD	Annual
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServices`	$12.50K	USD	1 Quarter
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServices`	$137.50K	USD	Annual
Issuance of options for services	`IssuanceOfOptionsForServices`	$174.84K	USD	Annual
Issuance of options for services	`IssuanceOfOptionsForServices`	$33.64K	USD	1 Quarter
Issuance of options for prepaid services	`IssuanceOfOptionsForPrepaidServices`	$168.64K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.48M	USD	1 Quarter
Balance	`StockholdersEquity`	$12.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.34M	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.