Contango ORE Inc
For the period ended Mar 31, 2024. Filed May 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
CTGO$15.55+4.5%Stored close · as of Nov 6, 2026
Contents
Financial Statements
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash | $7,618,414 | $15,504,819 |
| Restricted cash | 233,501 | 232,572 |
| Prepaid expenses and other | 1,189,852 | 1,112,910 |
| Total current assets | 9,041,767 | 16,850,301 |
| LONG-TERM ASSETS: | ||
| Investment in Peak Gold, LLC | 43,374,152 | 28,064,405 |
| Property & equipment, net | 13,306,851 | 13,326,347 |
| Commitment fee | 436,333 | 350,575 |
| Total long-term assets | 57,117,336 | 41,741,327 |
| TOTAL ASSETS | $66,159,103 | $58,591,628 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $420,850 | $250,739 |
| Accrued liabilities | 1,117,107 | 2,241,087 |
| Derivative contract liability | 9,494,487 | 2,679,784 |
| Debt, current portion | 21,700,000 | 7,900,000 |
| Total current liabilities | 32,732,444 | 13,071,610 |
| NON-CURRENT LIABILITIES: | ||
| Advance royalty reimbursement | 1,200,000 | 1,200,000 |
| Asset retirement obligations | 249,367 | 246,227 |
| Contingent consideration liability | 1,100,480 | 1,100,480 |
| Derivative contract liability | 29,548,624 | 20,737,997 |
| Debt, net | 35,378,008 | 36,779,859 |
| Total non-current liabilities | 67,476,479 | 60,064,563 |
| TOTAL LIABILITIES | 100,208,923 | 73,136,173 |
| COMMITMENTS AND CONTINGENCIES (NOTE 12) | ||
| STOCKHOLDERS’ EQUITY/(DEFICIT): | ||
| Preferred Stock, 15,000,000 shares authorized | — | — |
| Common Stock, $0.01 par value, 45,000,000 shares authorized; 9,616,084 shares issued and 9,613,604 shares outstanding as of March 31, 2024; 9,454,233 shares issued and 9,451,753 shares outstanding as of December 31, 2023 | 96,160 | 94,542 |
| Additional paid-in capital | 125,441,413 | 124,451,067 |
| Treasury stock at cost (2,480 at March 31, 2024; and 2,480 shares at December 31, 2023) | (48,308) | (48,308) |
| Accumulated deficit | (159,539,085) | (139,041,846) |
| TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT) | (34,049,820) | (14,544,545) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT) | $66,159,103 | $58,591,628 |
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