American Sands Energy Corp.

CIK:0001432001|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 0	$ 0
Operating expenses:
General and administrative	330,826	567,824
Research and development	73,417	104,328
Mineral lease	69,220	69,220
Total operating expenses	473,463	741,372
Loss from operations	(473,463)	(741,372)
Other (income) expense:
Loss on derivative	0	146,302
Loss before provision for income taxes	(473,463)	(887,674)
Provision for income taxes	(200)	(100)
Net loss	(473,663)	(887,774)
Less: cumulative preferred stock dividends	(86,245)	(96,758)
Net loss attributable to common stockholders	$ (559,908)	$ (984,532)
Net loss per common share - basic and diluted	$ (.02)	$ (.03)
Weighted average common shares outstanding - basic and diluted	33,393,828	31,016,036

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (473,663)	$ (887,774)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	154	207
Loss on derivative liability	0	146,302
Stock-based compensation expense	91,190	269,880
Decrease in operating assets:
Prepaid and other current assets	84,889	50,928
Increase (decrease) in operating liabilities:
Accounts payable	93,686	142,732
Accrued expenses	128,201	(8,209)
Net cash used in operating activities	(75,543)	(285,934)
Cash flows from investing activities:
Mine permitting and other costs	(110,569)	(73,159)
Net cash used in investing activities	(110,569)	(73,159)
Cash flows from financing activities:
Proceeds from issuance of preferred stock units, net	0	341,000
Proceeds from exercise of warrants	0	33,035
Principal and interest payments on notes payable	0	(2,228)
Net cash provided by financing activities	0	371,807
Net increase (decrease) in cash	(186,112)	12,714
Cash, beginning of the period	191,460	2,006,007
Cash, end of the period	5,348	2,018,721
Supplemental disclosures of cash flow information:
Income taxes paid	$ 200	$ 200

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Current assets:
Cash	$ 5,348	$ 191,460
Prepaid and other current assets	171,435	256,324
Total current assets	176,783	447,784
Property and equipment, net	1,590	1,744
Other assets	562,259	451,690
Total assets	740,632	901,218
Current liabilities:
Accounts payable	416,933	323,247
Accrued expenses	228,916	100,715
Total current liabilities	645,849	423,962
Derivative liability	0	691,859
Total liabilities	$ 645,849	$ 1,115,821
Commitments and contingencies (Notes 3, 4 and 10)
Stockholders' equity:
Common stock, $.001 par value: 200,000,000 shares authorized; 33,393,828 shares outstanding	$ 33,394	$ 33,394
Additional paid-in capital	18,433,475	17,650,426
Accumulated deficit	(18,376,204)	(17,902,541)
Total stockholders' equity (deficit)	94,783	(214,603)
Total liabilities and stockholders' equity (deficit)	740,632	901,218
Series A Preferred Stock [Member]
Stockholders' equity:
Preferred stock, $.001 par value: 10,000,000 shares authorized; 4,750,000 shares designated as Series A preferred stock; 4,118,210 Series A preferred shares outstanding	4,118	4,118
Total stockholders' equity (deficit)	$ 4,118	$ 4,118