Cover
Cover - shares | 6 Months Ended | |
Dec. 31, 2021 | Feb. 04, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --06-30 | |
Entity File Number | 000-55710 | |
Entity Registrant Name | NioCorp Developments Ltd. | |
Entity Central Index Key | 0001512228 | |
Entity Tax Identification Number | 98-1262185 | |
Entity Incorporation, State or Country Code | A1 | |
Entity Address, Address Line One | 7000 South Yosemite Street | |
Entity Address, Address Line Two | Suite 115 | |
Entity Address, City or Town | Centennial | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80112 | |
City Area Code | 855 | |
Local Phone Number | 264-6267 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 264,903,954 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 |
Current | ||
Cash | $ 4,866 | $ 7,317 |
Prepaid expenses and other | 279 | 24 |
Total current assets | 5,145 | 7,341 |
Non-current | ||
Deposits | 35 | 35 |
Investment in equity securities | 11 | 16 |
Right-of-use assets | 126 | 156 |
Land and buildings, net | 852 | 837 |
Mineral interests | 16,085 | 16,085 |
Total assets | 22,254 | 24,470 |
Current | ||
Accounts payable and accrued liabilities | 458 | 408 |
Related party loan | 2,000 | 2,318 |
Convertible debt | 1,123 | |
Operating lease liability | 76 | 69 |
Total current liabilities | 2,534 | 3,918 |
Convertible debt, net of current | 4,262 | 6,784 |
Operating lease liability | 66 | 105 |
Total liabilities | 6,862 | 10,807 |
SHAREHOLDERS’ EQUITY | ||
Common shares, unlimited shares authorized; shares outstanding: 264,026,990 at December 31, 2021 and 256,379,931 at June 30, 2021 | 120,935 | 113,882 |
Accumulated deficit | (104,494) | (99,076) |
Accumulated other comprehensive loss | (1,049) | (1,143) |
Total shareholders’ equity | 15,392 | 13,663 |
Total liabilities and equity | $ 22,254 | $ 24,470 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - shares | 6 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Jun. 30, 2021 | |
Statement of Financial Position [Abstract] | ||
Common stock, authorized | Unlimited | Unlimited |
Common stock, shares outstanding | 264,026,990 | 256,379,931 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating expenses | ||||
Employee related costs | $ 1,232 | $ 686 | $ 1,551 | $ 1,005 |
Professional fees | 424 | 85 | 514 | 193 |
Exploration expenditures | 491 | 189 | 1,112 | 414 |
Other operating expenses | 881 | 253 | 1,107 | 664 |
Total operating expenses | 3,028 | 1,213 | 4,284 | 2,276 |
Other income | (186) | (186) | ||
Loss on debt extinguishment | 163 | 163 | ||
Change in financial instrument fair value | 62 | 28 | ||
Foreign exchange (gain) loss | (61) | (302) | 149 | (403) |
Interest expense | 488 | 131 | 980 | 258 |
Other loss (gain) on equity securities | 3 | 5 | (2) | |
Loss before income taxes | 3,458 | 1,081 | 5,418 | 2,134 |
Income tax benefit | ||||
Net loss | 3,458 | 1,081 | 5,418 | 2,134 |
Other comprehensive loss: | ||||
Net loss | 3,458 | 1,081 | 5,418 | 2,134 |
Other comprehensive loss (gain): | ||||
Reporting currency translation | (15) | 257 | 94 | 387 |
Total comprehensive loss | $ 3,443 | $ 1,338 | $ 5,512 | $ 2,521 |
Loss per common share, basic and diluted | $ 0.01 | $ 0 | $ 0.02 | $ 0.01 |
Weighted average common shares outstanding | 261,392,248 | 239,060,052 | 259,734,327 | 237,965,059 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (5,418) | $ (2,134) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Change in financial instrument fair value | 28 | |
Unrealized loss (gain) on equity securities | 5 | (2) |
Accretion of convertible debt | 877 | 3 |
Noncash lease expense | (3) | 11 |
Depreciation | 1 | |
Gain on debt forgiveness | 163 | |
Loss on debt extinguishment | (186) | |
Foreign exchange loss (gain) | 210 | (319) |
Share-based compensation | 1,568 | 797 |
total | (2,760) | (1,639) |
Change in working capital items: | ||
Prepaid expenses | (255) | (17) |
Accounts payable and accrued liabilities | 57 | (103) |
Net cash used in operating activities | (2,958) | (1,759) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Acquisition of land and buildings | (16) | |
Net cash used in financing activities | (16) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of common shares | 963 | 1,636 |
Loan repayments | (67) | |
Related party debt repayments | (318) | |
Net cash provided by financing activities | 645 | 1,569 |
Exchange rate effect on cash and cash equivalents | (122) | 16 |
Change in cash and cash equivalents during period | (2,451) | (174) |
Cash and cash equivalents, beginning of period | 7,317 | 307 |
Cash and cash equivalent, end of period | 4,866 | 133 |
Supplemental cash flow information: | ||
Amounts paid for interest | 40 | 37 |
Amounts paid for income taxes | ||
Non-cash financing transactions | ||
Conversions of debt for common shares | 4,522 | 456 |
Recognition of operating lease liabilities | 231 | |
Loan amounts forgiven | 186 | |
Accounts payable to convertible debt conversion | $ 1,693 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Jun. 30, 2020 | $ 97,682 | $ (94,686) | $ (355) | $ 2,641 |
Beginning balance (in shares) at Jun. 30, 2020 | 235,925,684 | |||
Exercise of warrants | $ 1,495 | 1,495 | ||
Exercise of warrants (in shares) | 2,777,422 | |||
Exercise of options | $ 141 | 141 | ||
Exercise of options (in shares) | 438,617 | |||
Fair value of warrant granted | $ 63 | 63 | ||
Debt conversions | $ 506 | 506 | ||
Debt conversions (in shares) | 968,544 | |||
Share issuance costs | $ (1) | (1) | ||
Share-based compensation | 797 | 797 | ||
Reporting currency presentation | (387) | (387) | ||
Loss for the period | (2,134) | (2,134) | ||
Ending balance, value at Dec. 31, 2020 | $ 100,683 | (96,820) | (742) | 3,121 |
Ending balance (in shares) at Dec. 31, 2020 | 240,110,267 | |||
Beginning balance, value at Sep. 30, 2020 | $ 99,404 | (95,739) | (485) | 3,180 |
Beginning balance (in shares) at Sep. 30, 2020 | 238,667,620 | |||
Exercise of warrants | $ 144 | 144 | ||
Exercise of warrants (in shares) | 308,901 | |||
Exercise of options | $ 110 | 110 | ||
Exercise of options (in shares) | 229,500 | |||
Fair value of warrant granted | $ 63 | 63 | ||
Debt conversions | $ 469 | 469 | ||
Debt conversions (in shares) | 904,246 | |||
Share-based compensation | $ 493 | 493 | ||
Reporting currency presentation | (257) | (257) | ||
Loss for the period | (1,081) | (1,081) | ||
Ending balance, value at Dec. 31, 2020 | $ 100,683 | (96,820) | (742) | 3,121 |
Ending balance (in shares) at Dec. 31, 2020 | 240,110,267 | |||
Beginning balance, value at Jun. 30, 2021 | $ 113,882 | (99,076) | (1,143) | $ 13,663 |
Beginning balance (in shares) at Jun. 30, 2021 | 256,379,931 | 256,379,931 | ||
Exercise of warrants | $ 543 | $ 543 | ||
Exercise of warrants (in shares) | 871,750 | (871,750) | ||
Exercise of options | $ 420 | $ 420 | ||
Exercise of options (in shares) | 1,019,616 | 1,019,616 | ||
Debt conversions | $ 4,522 | $ 4,522 | ||
Debt conversions (in shares) | 5,755,693 | |||
Share-based compensation | $ 1,568 | 1,568 | ||
Reporting currency presentation | 94 | 94 | ||
Loss for the period | (5,418) | (5,418) | ||
Ending balance, value at Dec. 31, 2021 | $ 120,935 | (104,494) | (1,049) | $ 15,392 |
Ending balance (in shares) at Dec. 31, 2021 | 264,026,990 | 264,026,990 | ||
Beginning balance, value at Sep. 30, 2021 | $ 115,896 | (101,036) | (1,034) | $ 13,826 |
Beginning balance (in shares) at Sep. 30, 2021 | 259,118,369 | |||
Exercise of options | $ 299 | 299 | ||
Exercise of options (in shares) | 736,914 | |||
Debt conversions | $ 3,172 | 3,172 | ||
Debt conversions (in shares) | 4,171,707 | |||
Share-based compensation | $ 1,568 | 1,568 | ||
Reporting currency presentation | (15) | (15) | ||
Loss for the period | (3,458) | (3,458) | ||
Ending balance, value at Dec. 31, 2021 | $ 120,935 | $ (104,494) | $ (1,049) | $ 15,392 |
Ending balance (in shares) at Dec. 31, 2021 | 264,026,990 | 264,026,990 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 6 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS | 1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“NioCorp” or the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in one These financial statements have been prepared on a going concern basis that contemplates the realization of assets and discharge of liabilities at their carrying values in the normal course of business for the foreseeable future. These financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern. The Company currently earns no operating revenues and will require additional capital in order to advance the Elk Creek Project to construction and commercial operation. As further discussed in Note 3, the Company’s ability to continue as a going concern is uncertain and is dependent upon obtaining sufficient financing, the generation of profits from mineral properties, and maintaining continued support from its shareholders and creditors. |
BASIS OF PREPARATION
BASIS OF PREPARATION | 6 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PREPARATION | 2. BASIS OF PREPARATION a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries with all significant intercompany transactions eliminated. The accounting policies followed in preparing these interim condensed consolidated financial statements are those used by the Company as set out in the audited consolidated financial statements for the year ended June 30, 2021. In the opinion of management, all adjustments considered necessary (including reclassifications and normal recurring adjustments) to present fairly the financial position, results of operations, and cash flows at December 31, 2021, and for all periods presented, have been included in these interim condensed consolidated financial statements. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to appropriate SEC rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2021. The interim results are not necessarily indicative of results for the full year ending June 30, 2022, or future operating periods. During fiscal year 2021 the Company combined the presentation of Additional Paid in Capital into the Common Shares line item in Shareholders’ Equity on the consolidated balance sheets. This presentation change was made as the Company’s common shares (“Common Shares”) are issued at no par value, and the fiscal year 2020 presentations were changed to conform with the current period presentation. b) Recent Accounting Standards Issued and Adopted In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU 2019-12 on July 1, 2021, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), which simplifies the accounting for convertible instruments. ASU 2020-06 removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. Either a modified retrospective method of transition or a fully retrospective method of transition is permissible for the adoption of this standard. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company is currently evaluating the potential impact of the new guidance on our financial statements. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. c) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, convertible debt valuations, and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected. |
GOING CONCERN ISSUES
GOING CONCERN ISSUES | 6 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN ISSUES | 3. GOING CONCERN ISSUES The Company incurred a loss of $ 5,418 2,134 104,494 4,866 The Company’s ability to continue operations and fund its expenditures, which have historically averaged approximately $1,050 per quarter, is dependent on management’s ability to secure additional financing. Management is actively pursuing additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. The Company did not have any further funding commitments or arrangements for additional financing as of December 31, 2021. These consolidated financial statements do not give effect to any adjustments required to realize the Company’s assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements. Since March 2020, several measures have been implemented in the United States, Canada, and the rest of the world in response to the increased impact from the novel coronavirus (“COVID-19”) pandemic. The full extent to which the COVID-19 pandemic and our precautionary measures may continue to impact our business will depend on future developments, which continue to be highly uncertain and cannot be predicted at this time, including, but not limited to, the duration and geographic spread of the pandemic, its severity, the actions to contain the virus or treat its impact, future spikes of COVID-19 infections resulting in additional preventative measures to contain or mitigate the spread of the virus, the effectiveness, distribution and acceptance of COVID-19 vaccines, including the vaccines’ efficacy against emerging COVID-19 variants, and how quickly and to what extent normal economic and operating conditions can resume. We believe this could have an adverse impact on our ability to obtain financing, development plans, results of operations, financial position, and cash flows during the current fiscal year. |
ACCOUNTS PAYABLE AND ACCRUED LI
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | 6 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | 4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities As of Note December 31, June 30, Accounts payable, trade $ 186 $ 163 Interest payable to related party 7 104 40 Other accruals 168 205 Total accounts payable and accrued liabilities $ 458 $ 408 |
CONVERTIBLE DEBT
CONVERTIBLE DEBT | 6 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE DEBT | 5. CONVERTIBLE DEBT Schedule of convertible debt As of December 31, June 30, Current Portion Nordmin Note $ - $ 1,123 Non-Current Portion Lind III Convertible Security $ 4,262 $ 6,784 Changes in the convertible security (the “Lind III Convertible Security”) issued to Lind Global Asset Management III, LLC, and the convertible note issued to Nordmin Engineering Ltd. (the “Nordmin Note”), are as follows: Lind III Nordmin Balance, June 30, 2021 $ 6,784 $ 1,123 Accretion expense 828 49 Conversions (3,350 ) (1,172 ) Balance, December 31, 2021 $ 4,262 $ - Based on the Company’s closing Common Share price of C$1.29 as of December 31, 2021, conversion of the remaining Lind III Convertible Security balance, including accrued interest, would require the issuance of approximately 7,804,000 0.01 Company would be obligated to issue would change by approximately 61,000 shares |
COMMON SHARES
COMMON SHARES | 6 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
COMMON SHARES | 6. COMMON SHARES a) Stock Options Schedule of stock option Number of Weighted Balance, June 30, 2021 15,965,000 C$ 0.65 Granted 3,975,000 1.36 Exercised (1,019,616 ) 0.72 Cancelled/expired (605,384 ) 0.84 Balance, December 31, 2021 18,315,000 C$ 0.80 On December 17, 2021, the Company granted 3,975,000 options to purchase Common Shares (“Options”) at a fair value price of $C0.50 per Option, based on Black-Scholes models with an average risk-free rate of 1.18%, average share price volatility of 53.9%, and a three-year expected option life. The following table summarizes information about Options outstanding at December 31, 2021: Exercise Price Expiry Date Number Aggregate Number Aggregate C$ 0.76 March 6, 2022 4,000,000 C$ 2,120 4,000,000 C$ 2,120 C$ 0.47 November 9, 2022 3,030,000 2,485 3,030,000 2,485 C$ 0.84 September 18, 2023 1,050,000 472 1,050,000 472 C$ 0.54 November 15, 2023 3,910,000 2,933 3,910,000 2,933 C$ 0.75 December 14, 2023 1,825,000 986 1,825,000 986 C$ 0.75 December 16, 2023 525,000 283 525,000 283 C$ 1.36 December 17, 2024 3,975,000 - 3,975,000 - 18,315,000 C$ 9,279 18,315,000 C$ 9,279 The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing Common Share price of C$1.29 as of December 31, 2021, that would have been received by the Option holders had all Option holders exercised their Options as of that date. The total number of in-the-money Options vested and exercisable as of December 31, 2021, was 14,340,000. As of December 31, 2021, there was $0 of unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Option plans. b) Warrants Schedule of warrant transactions Number of Weighted Balance, June 30, 2021 14,341,868 C$ 1.16 Exercised (871,750 ) 0.78 Balance, December 31, 2021 13,470,118 C$ 1.18 At December 31, 2021, the Company had outstanding exercisable Common Share purchase warrants (“Warrants”), as follows: Number Exercise Price Expiry Date 500,000 C$ 0.80 December 18, 2022 4,412,118 C$ 1.63 May 10, 2023 8,558,000 C$ 0.97 February 19, 2025 13,470,118 |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND BALANCES | 6 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS AND BALANCES | 7. RELATED PARTY TRANSACTIONS AND BALANCES Borrowings under the non-revolving credit facility agreement (the “Smith Credit Facility”) with Mark Smith, Chief Executive Officer, President, and Executive Chairman of NioCorp, bear interest at a rate of 10% and drawdowns from the Smith Credit Facility are subject to a 2.5 2,000 On July 23, 2021, the Company paid Mr. Smith $ 40 104 |
Exploration Expenditures
Exploration Expenditures | 6 Months Ended |
Dec. 31, 2021 | |
Extractive Industries [Abstract] | |
Exploration Expenditures | 8. Exploration Expenditures Schedule of exploration expenditures For the Three Months For the Six Months 2021 2020 2021 2020 Technical studies and engineering $ 84 $ - $ 134 $ - Field management and other 157 148 281 330 Metallurgical development 150 41 586 84 Geologists and field staff 100 - 111 - Total $ 491 $ 189 $ 1,112 $ 414 |
Leases
Leases | 6 Months Ended |
Dec. 31, 2021 | |
Leases | |
Leases | 9. Leases The Company incurred lease costs as follows: For the Three Months For the Six Months 2021 2020 2021 2020 Operating Lease Cost: Fixed rent expense $ 23 $ 28 $ 43 $ 57 Variable rent expense 2 2 5 2 Short term lease cost 2 3 9 7 Sublease income (10 ) (5 ) (15 ) (10 ) Net lease cost 17 28 42 56 Lease cost – other operating expense 17 22 42 44 Lease cost – exploration expenditures - 6 - 12 Net lease cost $ 17 $ 28 $ 42 $ 56 The maturities of lease liabilities are as follows at December 31, 2021: Fiscal Year 2021 $ 46 2022 92 2023 and thereafter 23 Total lease payments 161 Less portion of payments representing interest (19 ) Present value of lease payments 142 Less current portion of lease liability (76 ) Noncurrent lease liability $ 66 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables, or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized in income. Financial instruments including receivables, accounts payable and accrued liabilities, and related party loans are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The following tables present information about the assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2021, and June 30, 2021, respectively, and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical instruments. Fair values determined by Level 2 inputs utilize data points that are observable, such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the financial instrument and include situations where there is little, if any, market activity for the instrument. Schedule of fair values determined by level 3 inputs are unobservable data As of December 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 4,866 $ 4,866 $ - $ - Equity securities 11 11 - - Total $ 4,877 $ 4,877 $ - $ - As of June 30, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,317 $ 7,317 $ - $ - Equity securities 16 16 - - Total $ 7,333 $ 7,333 $ - $ - |
BASIS OF PREPARATION (Policies)
BASIS OF PREPARATION (Policies) | 6 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Preparation and Consolidation | a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries with all significant intercompany transactions eliminated. The accounting policies followed in preparing these interim condensed consolidated financial statements are those used by the Company as set out in the audited consolidated financial statements for the year ended June 30, 2021. In the opinion of management, all adjustments considered necessary (including reclassifications and normal recurring adjustments) to present fairly the financial position, results of operations, and cash flows at December 31, 2021, and for all periods presented, have been included in these interim condensed consolidated financial statements. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to appropriate SEC rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2021. The interim results are not necessarily indicative of results for the full year ending June 30, 2022, or future operating periods. During fiscal year 2021 the Company combined the presentation of Additional Paid in Capital into the Common Shares line item in Shareholders’ Equity on the consolidated balance sheets. This presentation change was made as the Company’s common shares (“Common Shares”) are issued at no par value, and the fiscal year 2020 presentations were changed to conform with the current period presentation. |
Recent Accounting Standards | b) Recent Accounting Standards Issued and Adopted In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted ASU 2019-12 on July 1, 2021, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), which simplifies the accounting for convertible instruments. ASU 2020-06 removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. Either a modified retrospective method of transition or a fully retrospective method of transition is permissible for the adoption of this standard. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company is currently evaluating the potential impact of the new guidance on our financial statements. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. |
Use of Estimates | c) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, convertible debt valuations, and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected. |
ACCOUNTS PAYABLE AND ACCRUED _2
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of account payable and accrued liabilities | Schedule of account payable and accrued liabilities As of Note December 31, June 30, Accounts payable, trade $ 186 $ 163 Interest payable to related party 7 104 40 Other accruals 168 205 Total accounts payable and accrued liabilities $ 458 $ 408 |
CONVERTIBLE DEBT (Tables)
CONVERTIBLE DEBT (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of convertible debt | Schedule of convertible debt As of December 31, June 30, Current Portion Nordmin Note $ - $ 1,123 Non-Current Portion Lind III Convertible Security $ 4,262 $ 6,784 |
Changes in the convertible security (the “Lind III Convertible Security”) issued to Lind Global Asset Management III, LLC, and the convertible note issued to Nordmin Engineering Ltd. (the “Nordmin Note”), are as follows: | Changes in the convertible security (the “Lind III Convertible Security”) issued to Lind Global Asset Management III, LLC, and the convertible note issued to Nordmin Engineering Ltd. (the “Nordmin Note”), are as follows: Lind III Nordmin Balance, June 30, 2021 $ 6,784 $ 1,123 Accretion expense 828 49 Conversions (3,350 ) (1,172 ) Balance, December 31, 2021 $ 4,262 $ - |
COMMON SHARES (Tables)
COMMON SHARES (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Schedule of stock option | Schedule of stock option Number of Weighted Balance, June 30, 2021 15,965,000 C$ 0.65 Granted 3,975,000 1.36 Exercised (1,019,616 ) 0.72 Cancelled/expired (605,384 ) 0.84 Balance, December 31, 2021 18,315,000 C$ 0.80 |
The following table summarizes information about Options outstanding at December 31, 2021: | The following table summarizes information about Options outstanding at December 31, 2021: Exercise Price Expiry Date Number Aggregate Number Aggregate C$ 0.76 March 6, 2022 4,000,000 C$ 2,120 4,000,000 C$ 2,120 C$ 0.47 November 9, 2022 3,030,000 2,485 3,030,000 2,485 C$ 0.84 September 18, 2023 1,050,000 472 1,050,000 472 C$ 0.54 November 15, 2023 3,910,000 2,933 3,910,000 2,933 C$ 0.75 December 14, 2023 1,825,000 986 1,825,000 986 C$ 0.75 December 16, 2023 525,000 283 525,000 283 C$ 1.36 December 17, 2024 3,975,000 - 3,975,000 - 18,315,000 C$ 9,279 18,315,000 C$ 9,279 |
Schedule of warrant transactions | Schedule of warrant transactions Number of Weighted Balance, June 30, 2021 14,341,868 C$ 1.16 Exercised (871,750 ) 0.78 Balance, December 31, 2021 13,470,118 C$ 1.18 |
At December 31, 2021, the Company had outstanding exercisable Common Share purchase warrants (“Warrants”), as follows: | At December 31, 2021, the Company had outstanding exercisable Common Share purchase warrants (“Warrants”), as follows: Number Exercise Price Expiry Date 500,000 C$ 0.80 December 18, 2022 4,412,118 C$ 1.63 May 10, 2023 8,558,000 C$ 0.97 February 19, 2025 13,470,118 |
Exploration Expenditures (Table
Exploration Expenditures (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Extractive Industries [Abstract] | |
Schedule of exploration expenditures | Schedule of exploration expenditures For the Three Months For the Six Months 2021 2020 2021 2020 Technical studies and engineering $ 84 $ - $ 134 $ - Field management and other 157 148 281 330 Metallurgical development 150 41 586 84 Geologists and field staff 100 - 111 - Total $ 491 $ 189 $ 1,112 $ 414 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Leases | |
The Company incurred lease costs as follows: | The Company incurred lease costs as follows: For the Three Months For the Six Months 2021 2020 2021 2020 Operating Lease Cost: Fixed rent expense $ 23 $ 28 $ 43 $ 57 Variable rent expense 2 2 5 2 Short term lease cost 2 3 9 7 Sublease income (10 ) (5 ) (15 ) (10 ) Net lease cost 17 28 42 56 Lease cost – other operating expense 17 22 42 44 Lease cost – exploration expenditures - 6 - 12 Net lease cost $ 17 $ 28 $ 42 $ 56 |
The maturities of lease liabilities are as follows at December 31, 2021: | The maturities of lease liabilities are as follows at December 31, 2021: Fiscal Year 2021 $ 46 2022 92 2023 and thereafter 23 Total lease payments 161 Less portion of payments representing interest (19 ) Present value of lease payments 142 Less current portion of lease liability (76 ) Noncurrent lease liability $ 66 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of fair values determined by level 3 inputs are unobservable data | Schedule of fair values determined by level 3 inputs are unobservable data As of December 31, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 4,866 $ 4,866 $ - $ - Equity securities 11 11 - - Total $ 4,877 $ 4,877 $ - $ - As of June 30, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,317 $ 7,317 $ - $ - Equity securities 16 16 - - Total $ 7,333 $ 7,333 $ - $ - |
DESCRIPTION OF BUSINESS (Detail
DESCRIPTION OF BUSINESS (Details Narrative) | 6 Months Ended |
Dec. 31, 2021NUMBER | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | 1 |
GOING CONCERN ISSUES (Details N
GOING CONCERN ISSUES (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Total loss for the period | $ (3,458) | $ (1,081) | $ (5,418) | $ (2,134) | |
Accumulated deficit | (104,494) | (104,494) | $ (99,076) | ||
Cash | $ 4,866 | $ 4,866 | $ 7,317 |
Schedule of account payable and
Schedule of account payable and accrued liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 |
Payables and Accruals [Abstract] | ||
Accounts payable, trade | $ 186 | $ 163 |
Interest payable to related party | 104 | 40 |
Other accruals | 168 | 205 |
Total accounts payable and accrued liabilities | $ 458 | $ 408 |
Schedule of convertible debt (D
Schedule of convertible debt (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 |
Short-term Debt [Line Items] | ||
Nordmin Note | $ 1,123 | |
Lind III Convertible Security | 4,262 | 6,784 |
Nordmin Convertible Note [Member] | ||
Short-term Debt [Line Items] | ||
Nordmin Note | 1,123 | |
Convertible Security [Member] | ||
Short-term Debt [Line Items] | ||
Lind III Convertible Security | $ 4,262 | $ 6,784 |
Changes in the convertible secu
Changes in the convertible security (the “Lind III Convertible Security”) issued to Lind Global Asset Management III, LLC, and the convertible note issued to Nordmin Engineering Ltd. (the “Nordmin Note”), are as follows: (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Short-term Debt [Line Items] | ||
Beginning balance | $ 1,123 | |
Accretion expense | 877 | $ 3 |
Ending balance | ||
Nordmin Convertible Note [Member] | ||
Short-term Debt [Line Items] | ||
Beginning balance | 1,123 | |
Accretion expense | 49 | |
Conversion | (1,172) | |
Ending balance | ||
Convertible Security [Member] | ||
Short-term Debt [Line Items] | ||
Beginning balance | 6,784 | |
Accretion expense | 828 | |
Conversion | (3,350) | |
Ending balance | $ 4,262 |
CONVERTIBLE DEBT (Details Narra
CONVERTIBLE DEBT (Details Narrative) | 6 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Convertible Security [Member] | Lind Asset Management I VLLC [Member] | |
Short-term Debt [Line Items] | |
Number of shares issued upon debt conversion | shares | 7,804,000 |
Description of change fair value obligated to issue | Company would be obligated to issue would change by approximately 61,000 shares |
Nordmin Convertible Note [Member] | Nordmin Agreement [Member] | |
Short-term Debt [Line Items] | |
Conversion price (in dollars per share) | $ / shares | $ 0.01 |
Schedule of stock option (Detai
Schedule of stock option (Details) | 6 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Balance at beginning | shares | 15,965,000 |
Granted | shares | 3,975,000 |
Granted | $ / shares | $ 1.36 |
Exercised | shares | (1,019,616) |
Cancelled/expired | shares | (605,384) |
Balance at end | shares | 18,315,000 |
Canada, Dollars | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.65 |
Exercised | $ / shares | 0.72 |
Cancelled/expired | $ / shares | 0.84 |
Balance at end | $ / shares | $ 0.80 |
The following table summarizes
The following table summarizes information about Options outstanding at December 31, 2021: (Details) $ in Thousands | 6 Months Ended |
Dec. 31, 2021USD ($)shares | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 18,315,000 |
Number exercisable | shares | 18,315,000 |
Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 9,279 |
Aggregate Intrinsic Value | $ | $ 9,279 |
Exercise Price 0. 76 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 4,000,000 |
Number exercisable | shares | 4,000,000 |
Exercise Price 0. 76 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 2,120 |
Aggregate Intrinsic Value | $ | $ 2,120 |
Exercise Price 0. 47 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 3,030,000 |
Number exercisable | shares | 3,030,000 |
Expiry date | Nov. 9, 2022 |
Exercise Price 0. 47 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 2,485 |
Aggregate Intrinsic Value | $ | $ 2,485 |
Exercise Price 0. 84 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 1,050,000 |
Number exercisable | shares | 1,050,000 |
Expiry date | Sep. 18, 2023 |
Exercise Price 0. 84 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 472 |
Aggregate Intrinsic Value | $ | $ 472 |
Exercise Price 0. 54 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 3,910,000 |
Number exercisable | shares | 3,910,000 |
Expiry date | Nov. 15, 2023 |
Exercise Price 0. 54 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 2,933 |
Aggregate Intrinsic Value | $ | $ 2,933 |
Exercise Price 0. 75 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 1,825,000 |
Number exercisable | shares | 1,825,000 |
Expiry date | Dec. 14, 2023 |
Exercise Price 0. 75 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 986 |
Aggregate Intrinsic Value | $ | $ 986 |
Exercise Price 0. 75 One [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 525,000 |
Number exercisable | shares | 525,000 |
Expiry date | Dec. 16, 2023 |
Exercise Price 0. 75 One [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | $ 283 |
Aggregate Intrinsic Value | $ | $ 283 |
Exercise Price1.36 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Number of outstanding | shares | 3,975,000 |
Number exercisable | shares | 3,975,000 |
Expiry date | Dec. 17, 2024 |
Exercise Price1.36 [Member] | Canada, Dollars | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Aggregate Intrinsic Value | $ | |
Aggregate Intrinsic Value | $ |
Schedule of warrant transaction
Schedule of warrant transactions (Details) | 6 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Balance, at beginning | shares | 14,341,868 |
Warrant exercise price beginning (in dollars per share) | $ / shares | $ 1.16 |
Exercised | shares | (871,750) |
Balance, at ending | shares | 13,470,118 |
Warrant exercise price ending (in dollars per share) | $ / shares | $ 1.18 |
Canada, Dollars | |
Exercised | $ / shares | $ 0.78 |
At December 31, 2021, the Compa
At December 31, 2021, the Company had outstanding exercisable Common Share purchase warrants (“Warrants”), as follows: (Details) | Dec. 31, 2021$ / sharesshares | Dec. 31, 2021$ / sharesshares | Jun. 30, 2021$ / sharesshares |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number | shares | 13,470,118 | 13,470,118 | 14,341,868 |
Warrant exercise price (in dollars per share) | $ / shares | $ 1.18 | $ 1.16 | |
Exercise Price 0. 80 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number | shares | 500,000 | 500,000 | |
Warrant exercise price (in dollars per share) | $ / shares | $ 0.80 | ||
Expiry Date | Dec. 18, 2022 | Dec. 18, 2022 | |
Exercise Price 1.63 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number | shares | 4,412,118 | 4,412,118 | |
Warrant exercise price (in dollars per share) | $ / shares | $ 1.63 | ||
Expiry Date | May 10, 2023 | May 10, 2023 | |
Exercise Price 0. 97 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number | shares | 8,558,000 | 8,558,000 | |
Warrant exercise price (in dollars per share) | $ / shares | $ 0.97 | ||
Expiry Date | Feb. 19, 2025 | Feb. 19, 2025 |
RELATED PARTY TRANSACTIONS AN_2
RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | ||
Dec. 31, 2021 | Jul. 23, 2021 | Jun. 30, 2021 | |
Related Party Transaction [Line Items] | |||
Accounts payable and accrued liabilities | $ 104 | $ 40 | |
Revolving Credit Facility [Member] | Chief Executive Officer [Member] | |||
Related Party Transaction [Line Items] | |||
Establishment fee | 2.50% | ||
Principal amount outstanding | $ 2,000 | ||
Origination fees payable | $ 40 | ||
Accounts payable and accrued liabilities | $ 104 |
Schedule of exploration expendi
Schedule of exploration expenditures (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Total | $ 491 | $ 189 | $ 1,112 | $ 414 |
Feasibility Study and Engineering [Member] | ||||
Total | 84 | 134 | ||
Field Management and Other [Member] | ||||
Total | 157 | 148 | 281 | 330 |
Exploration and Production Equipment [Member] | ||||
Total | 150 | 41 | 586 | 84 |
Geologists and Field Staff [Member] | ||||
Total | $ 100 | $ 111 |
The Company incurred lease cost
The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Lease Cost: | ||||
Fixed rent expense | $ 23 | $ 28 | $ 43 | $ 57 |
Variable rent expense | 2 | 2 | 5 | 2 |
Short term lease cost | 2 | 3 | 9 | 7 |
Sublease income | (10) | (5) | (15) | (10) |
Net lease cost | 17 | 28 | 42 | 56 |
Lease cost – other operating expense | 17 | 22 | 42 | 44 |
Lease cost – exploration expenditures | $ 6 | $ 12 |
The maturities of lease liabili
The maturities of lease liabilities are as follows at December 31, 2021: (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 |
Leases | ||
2021 | $ 46 | |
2022 | 92 | |
2023 and thereafter | 23 | |
Total lease payments | 161 | |
Less portion of payments representing interest | (19) | |
Present value of lease payments | 142 | |
Less current portion of lease liability | (76) | $ (69) |
Noncurrent lease liability | $ 66 | $ 105 |
Schedule of fair values determi
Schedule of fair values determined by level 3 inputs are unobservable data (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 4,866 | $ 7,317 |
Equity securities | 11 | 16 |
Total | 4,877 | 7,333 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 4,866 | 7,317 |
Equity securities | 11 | 16 |
Total | 4,877 | 7,333 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | ||
Equity securities | ||
Total | ||
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | ||
Equity securities | ||
Total |