Ag&e (WGA) 10-Q 12 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 04, 2017
Document Information [Line Items]
Entity Registrant Name	AG&E HOLDINGS INC.
Entity Central Index Key	105,608
Trading Symbol	wga
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		16,953,000
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 3,187	$ 1,948
Cost of sales	2,218	1,477
Gross margin	969	471
Selling & administrative	1,288	1,069
Transaction related costs	50	124
Intangible amortization	54	0
Operating loss	(423)	(722)
Other expense (income):
Interest	12	0
Other income	0	(4)
Loss before income tax	(435)	(719)
Income tax expense	0	0
Net loss	$ (435)	$ (719)
Basic and Diluted net loss per common share (in dollars per share)	$ (0.03)	$ (0.06)
Basic common weighted shares outstanding (in shares)	16,953,176	11,649,360
Diluted common weighted shares outstanding (in shares)	16,953,176	11,649,360

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash	$ 331	$ 1,292
Accounts receivable, net	1,972	997
Inventory	923	917
Prepaid expenses & other assets	428	335
Total current assets	3,653	3,541
Property, Plant & Equipment (at cost):
Leasehold improvements	16	16
Machinery, equipment & software	2,258	2,255
less: Accumulated depreciation & amortization	(2,225)	(2,212)
Property, plant & equipment, net	49	59
Other Assets:
Intangible Assets, net	1,558	1,612
Goodwill	1,152	1,152
Total other assets	2,710	2,764
Total Assets	6,412	6,364
Current Liabilities:
Accounts payable	855	476
Note payable – related party	263	263
Related party payable	211	219
Accrued expenses	347	209
Total current liabilities	1,650	1,167
Long term Liabilities:
Contingent Liability	880	880
Note payable - related party	711	737
Total long term liabilities	1,617	1,617
Total Liabilities	3,267	2,784
Shareholders' Equity:
$1 par value; 25,000,000 shares authorized; 16,953,176 shares issued and outstanding at March 31, 2017 and December 31, 2016	16,953	16,953
Capital in excess of par value	688	688
Accumulated deficit	(14,496)	(14,061)
Total Shareholders' Equity	3,145	3,580
Total Liabilities & Shareholders’ Equity	$ 6,412	$ 6,364

Consolidated Balance Sheets (C4

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	16,953,176	16,953,176
Common stock, shares outstanding (in shares)	16,953,176	16,953,176

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (435)	$ (719)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	67	6
Bad debt expense	2	0
Amortization of unearned compensation	0	7
Changes in current assets & liabilities
Accounts receivable	(977)	41
Inventory	(6)	74
Prepaid expenses & other	(93)	70
Accounts payable	379	92
Accrued expenses	130	(92)
Net cash used in operating activities	(933)	(521)
Cash used in investing activities:
Additions to plant & equipment	(2)	0
Net cash used in investing activities	(2)	0
Cash used in financing activities:
Repayment – Note Payable	(26)	0
Net Cash used in financing activities	(26)	0
Net decrease in cash	(961)	(521)
Cash at beginning of period	1,292	4,394
Cash at end of period	331	3,873
Supplemental cash flow disclosure:
Interest paid	13	0
Taxes paid	$ 0	$ 0

Note 1

Note 1	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1

Note 2

Note 2	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	2. 10 10 December 31, 2016. three March 31, 2017

Note 3

Note 3	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	3

Note 4

Note 4	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4

Note 5

Note 5	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Reclassifications [Text Block]	5

Note 6

Note 6	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	6. November 30, 2016, 5,303,816 may 4.2

Note 7

Note 7	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	7. November 30, 2016, $1.0 5% November 30, 2019. thirty six $29,971 first two 12 November 30, 2016, $1.0 12 $2.0

Note 8

Note 8	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8. may 2,155,028 2000 2009. March 31, 2017, no 258,000 three five

Note 9

Note 9	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	9. March 31, 2017 December 31. 2016.

Note 10

Note 10	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. $5,500,000 March 31, 2017, March 31, 2017, $11,080,000, 2021. $12,377,000 March 31, 2017. $148,000, twelve may The Company files tax returns in the U.S. federal jurisdiction and various state jurisdictions. The tax years 2013, 2014, 2015 2016 three March 31, 2017, March 31, 2017,

Note 11 - Recent Accounting Pro

Note 11 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	11. Recent Accounting Pronouncements In May 2014, August 2015 May 2016, 2014 09 Revenue from Contracts with Customers 2015 14 Revenue from Contracts with Customers, Deferral of the Effective Date 2016 12 Revenue from Contracts with Customers, Narrow-Scope Improvements and Practical Expedients 606. 606 December 15, 2017, December 15, 2016. may

Note 6 (Details Textual)

Note 6 (Details Textual) - AGA [Member] - President [Member]	Nov. 30, 2016shares
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	5,303,816
Business Acquisition, Equity Interest Issued or Issuable, Number of Additional Shares	4,200,000

Note 7 (Details Textual)

Note 7 (Details Textual) - AGA [Member]	Nov. 30, 2016USD ($)	Mar. 31, 2017USD ($)
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Annual Value, High		$ 1,000,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 2,000,000
Company Note [Member] | President [Member]
Debt Instrument, Face Amount	$ 1,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Debt Instrument, Number of Monthly Payments	36
Debt Instrument, Monthly Payment	$ 29,971

Note 8 (Details Textual)

Note 8 (Details Textual) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,155,028
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	258,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	0
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years

Note 10 (Details Textual)

Note 10 (Details Textual)	3 Months Ended
	Mar. 31, 2017USD ($)
Deferred Tax Assets, Gross	$ 5,500,000,000,000
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	148,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0
Domestic Tax Authority [Member]
Operating Loss Carryforwards	11,080,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 12,377,000