AMERICAS ENERGY Co - AECO
CIK:0001137239|SEC Filings
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |
| REVENUES | ||||
| Coal sales and related income | $ 114,804 | $ 2,142,717 | $ 250,910 | $ 5,758,537 |
| Other income | 5,126 | 5,796 | 20,607 | |
| Total revenues | 114,804 | 2,147,843 | 256,706 | 5,779,144 |
| OPERATING EXPENSES | ||||
| Cost of sales (exclusive of accretion, depreciation and depletion) | 174,649 | 2,822,227 | 443,141 | 6,017,774 |
| Accretion, depreciation and depletion | 194,982 | 277,510 | 387,331 | 439,176 |
| Compensation expense | 600,577 | 962,766 | 7,193,270 | 4,024,452 |
| Professional fees | 89,859 | 189,048 | 282,207 | 278,395 |
| General and administrative expenses | 78,465 | 74,925 | 164,839 | 257,370 |
| Total operating expenses | 1,138,532 | 4,326,476 | 8,470,788 | 11,017,167 |
| Loss from operations | (1,023,728) | (2,178,633) | (8,214,082) | (5,238,023) |
| OTHER INCOME (EXPENSES) | ||||
| Interest income | 3,340 | 8,854 | 8,782 | 17,937 |
| Interest expense | (196,077) | (501,129) | (287,248) | (854,635) |
| Gain on disposition of assets | 4,272 | 6,798 | 4,272 | |
| Change in fair value of derivative and warrant liabilities | 155,496 | (311,600) | ||
| Net gain on modification of acquisition | 12,763,252 | 12,763,252 | ||
| Total other income (expenses) | (37,241) | 12,275,249 | (583,268) | 11,930,826 |
| INCOME (LOSS) BEFORE INCOME TAXES | (1,060,969) | 10,096,616 | (8,797,350) | 6,692,803 |
| PROVISION FOR INCOME TAXES | (718,150) | |||
| NET INCOME (LOSS) | $ (1,060,969) | $ 10,096,616 | $ (8,797,350) | $ 5,974,653 |
| PER SHARE DATA | ||||
| Basic and diluted income (loss) per common share | $ (0.01) | $ 0.14 | $ (0.10) | $ 0.08 |
| Weighted average common shares outstanding | 88,852,113 | 72,257,064 | 87,133,229 | 71,845,153 |