10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-011194`
Period End Date	20190430
Filing Date	20190726
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	usau-20190430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 46 Cash Flow Statement 68 Stockholders Equity 24

Balance Sheet 56 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`	$2.20M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$632.04K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$613.26K	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
Total Current Assets	`AssetsCurrent`	$2.81M	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
Property, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.86M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.59M	shares	Point-in-time
Property, net	`PropertyPlantAndEquipmentNet`	$74.93K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.59M	shares	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$339.45K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.86M	shares	Point-in-time
Reclamation bond deposit	`DepositsAssetsNoncurrent`	$92.93K	USD	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`	-	USD	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.59M	USD	Point-in-time
Total Non - Current Assets	`AssetsNoncurrent`	$4.71M	USD	Point-in-time
Total Assets	`Assets`	$7.40M	USD	Point-in-time
Total Assets	`Assets`	$12.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$112.30K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$262.65K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$42.54K	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`	$5.37K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$160.21K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$286.08K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$88.75K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	-	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$248.96K	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; 19,860,625 and 17,590,574 shares issued and outstanding as of April 30, 2019 and 2018)	`CommonStockValue`	$19.86K	USD	Point-in-time
Common stock ($0.001 Par Value; 200,000,000 Shares Authorized; 19,860,625 and 17,590,574 shares issued and outstanding as of April 30, 2019 and 2018)	`CommonStockValue`	$17.59K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$30.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.23M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$7.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$12.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$11.25M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.40M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.99M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	-	USD	Annual
Net revenues	`Revenues`	-	USD	Annual
Compensation and related taxes	`CompensationAndRelatedTaxes`	$2.25M	USD	Annual
Compensation and related taxes	`CompensationAndRelatedTaxes`	$2.62M	USD	Annual
Exploration costs	`ExplorationExpense`	$2.58M	USD	Annual
Exploration costs	`ExplorationExpense`	$2.48M	USD	Annual
Professional fees	`ProfessionalFees`	$2.46M	USD	Annual
Professional fees	`ProfessionalFees`	$2.20M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$706.76K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$576.23K	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.61M	USD	Annual
Total operating expenses	`OperatingExpenses`	$8.26M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-8.26M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-7.61M	USD	Annual
Interest expense	`InterestExpenseOther`	-	USD	Annual
Interest expense	`InterestExpenseOther`	$116.00	USD	Annual
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.26M	USD	Annual
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.61M	USD	Annual
Provision for income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-435.35K	USD	Annual
Provision for income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$435.35K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-8.05M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-7.83M	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-5.93M	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Gain from sale of discontinued operations	`DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax`	-	USD	Annual
Gain from sale of discontinued operations	`DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax`	$94.48K	USD	Annual
Total loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	Annual
Total loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-5.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.05M	USD	Annual
Deemed dividend related to beneficial conversion feature of series E preferred stock	`DeemedDividendRelatedToBeneficialConversionFeatureOfPreferredStock`	$-1.58M	USD	Annual
Deemed dividend related to beneficial conversion feature of series E preferred stock	`DeemedDividendRelatedToBeneficialConversionFeatureOfPreferredStock`	-	USD	Annual
Net loss applicable to U.S. Gold Corp. common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.05M	USD	Annual
Net loss applicable to U.S. Gold Corp. common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.24M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.71	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.44	USD	Annual
Operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.44	USD	Annual
Gain	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Gain	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	Annual
Total discontinuing operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.43	USD	Annual
Total discontinuing operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-1.14	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.44	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	18.47M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	13.37M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.05M	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Depreciation	`Depreciation`	$6.96K	USD	Annual
Accretion	`AccretionExpense`	$6.86K	USD	Annual
Accretion	`AccretionExpense`	-	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$2.28M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.32M	USD	Annual
Amortization of prepaid stock based expenses	`AmortizationOfPrepaidStockBasedExpenses`	$287.35K	USD	Annual
Amortization of prepaid stock based expenses	`AmortizationOfPrepaidStockBasedExpenses`	$45.25K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-438.14K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$435.35K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$6.09M	USD	Annual
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	Annual
Gain on sale of business	`GainLossOnSaleOfBusiness`	$94.48K	USD	Annual
Gain on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	$248.68K	USD	Annual
Gain on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$400.50K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$40.72K	USD	Annual
Reclamation bond deposit and other assets	`IncreaseDecreaseInDepositOtherAssets`	$38.96K	USD	Annual
Reclamation bond deposit and other assets	`IncreaseDecreaseInDepositOtherAssets`	$246.52K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$222.10K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-132.14K	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$40.11K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-12.83K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-29.00K	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-5.67M	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-6.99M	USD	Annual
Net proceeds received from sale of business	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	-	USD	Annual
Net proceeds received from sale of business	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$326.40K	USD	Annual
Acquisition of mineral rights	`PaymentsToAcquireMineralRights`	$20.48K	USD	Annual
Acquisition of mineral rights	`PaymentsToAcquireMineralRights`	-	USD	Annual
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$305.93K	USD	Annual
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Issuance of preferred stock and warrants, net of issuance cost	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$4.92M	USD	Annual
Issuance of preferred stock and warrants, net of issuance cost	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	-	USD	Annual
Issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$2.59M	USD	Annual
Issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$219.80K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$7.51M	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$219.80K	USD	Annual
NET (DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$825.66K	USD	Annual
NET (DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.45M	USD	Annual
CASH - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.65M	USD	Point-in-time
CASH - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.20M	USD	Point-in-time
CASH - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.82M	USD	Point-in-time
CASH - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.65M	USD	Point-in-time
CASH - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.20M	USD	Point-in-time
CASH - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.82M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	$116.00	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of common stock for the acquisition of mineral rights	`ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodForAcquisitionOfMineralRights`	-	USD	Annual
Issuance of common stock for the acquisition of mineral rights	`ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodForAcquisitionOfMineralRights`	$35.85K	USD	Annual
Conversion of preferred stock into common stock	`ConversionOfPreferredStockIntoCommonStock`	$48.00	USD	Annual
Conversion of preferred stock into common stock	`ConversionOfPreferredStockIntoCommonStock`	-	USD	Annual
Increase in asset retirement obligation	`IncreaseInAssetRetirementObligation`	-	USD	Annual
Increase in asset retirement obligation	`IncreaseInAssetRetirementObligation`	$81.89K	USD	Annual
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServicesNonCash`	$12.50K	USD	Annual
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServicesNonCash`	$137.50K	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	$160.38K	USD	Annual
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	$280.82K	USD	Annual
Issuance of stock options for prepaid services	`IssuanceOfStockOptionsForPrepaidServices`	$168.64K	USD	Annual
Issuance of stock options for prepaid services	`IssuanceOfStockOptionsForPrepaidServices`	-	USD	Annual
Beneficial conversion feature - discount series E preferred stock	`BeneficialConversionFeatureDiscountPreferredStock`	$1.58M	USD	Annual
Beneficial conversion feature - discount series E preferred stock	`BeneficialConversionFeatureDiscountPreferredStock`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$7.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.70M	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, net of offering cost	`StockIssuedDuringPeriodValueNewIssues`	$2.59M	USD	Annual
Issuance of common stock for cash, net of offering cost	`StockIssuedDuringPeriodValueNewIssues`	$219.80K	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`	$1.19M	USD	Annual
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	Annual
Issuance of common stock for accrued services	`IssuanceOfCommonStockForAccruedServices`	$137.50K	USD	Annual
Stock options granted for services	`IssuanceOfOptionsForServices`	$328.08K	USD	Annual
Stock options granted for services	`IssuanceOfOptionsForServices`	$174.84K	USD	Annual
Issuance of options for prepaid services	`IssuanceOfOptionsForPrepaidServices`	$168.64K	USD	Annual
Issuance of common stock for salaries	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$567.50K	USD	Annual
Issuance of common stock for exploration expenses	`ProceedsFromIssuanceOfCommonStockExplorationExpenses`	$183.23K	USD	Annual
Net loss	`NetIncomeLoss`	$-13.66M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.05M	USD	Annual
Balance	`StockholdersEquity`	$7.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.70M	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.