Rare Element Resources LTD (REEMF) Financial Statements (2024 and earlier)

Company Profile

Business Address P.O. BOX 271049
LITTLETON, CO 80127
State of Incorp. BC
Fiscal Year End December 31
Industry (SIC) 104 - Gold And Silver Ores (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) (USD)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15,523,00022,247,0002,706,0005,664,0002,523,0004,360,000
Cash and cash equivalents15,523,00022,247,0002,706,0005,664,0002,523,0004,360,000
Restricted cash and investments  2,700,000    
Receivables174,000106,000    
Prepaid expense   47,00040,00037,00041,000
Other undisclosed current assets2,282,00075,000    
Total current assets:17,979,00025,128,0002,753,0005,704,0002,560,0004,401,000
Noncurrent Assets
Operating lease, right-of-use asset273,000372,000  
Property, plant and equipment15,00016,00051,00056,00061,00088,000
Restricted cash and investments      
Other undisclosed noncurrent assets600,000600,000600,000600,000600,000600,000
Total noncurrent assets:888,000988,000651,000656,000661,000688,000
TOTAL ASSETS:18,867,00026,116,0003,404,0006,360,0003,221,0005,089,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:227,000407,000115,000470,000386,00052,000
Other undisclosed accounts payable and accrued liabilities227,000407,000115,000470,000386,00052,000
Due to related parties 712,000    
Other undisclosed current liabilities124,000124,000    
Total current liabilities:351,0001,243,000115,000470,000386,00052,000
Noncurrent Liabilities
Long-term debt and lease obligation 253,000    
Long-term debt, excluding current maturities      
Liabilities, other than long-term debt300,000132,000132,000132,000132,000132,000
Asset retirement obligations132,000132,000132,000132,000132,000132,000
Operating lease, liability168,000253,000  
Other undisclosed noncurrent liabilities1,281,0001,047,000933,000600,0001,637,0002,179,000
Total noncurrent liabilities:1,581,0001,432,0001,065,000732,0001,769,0002,311,000
Total liabilities:1,932,0002,675,0001,180,0001,202,0002,155,0002,363,000
Equity
Equity, attributable to parent16,935,00023,441,0002,224,0005,158,0001,066,0002,726,000
Common stock136,906,000136,906,000111,823,000112,208,000106,494,000106,494,000
Additional paid in capital28,673,00025,753,00024,217,00023,831,00023,763,00023,659,000
Accumulated deficit(148,644,000)(139,218,000)(133,816,000)(130,881,000)(129,191,000)(127,427,000)
Total equity:16,935,00023,441,0002,224,0005,158,0001,066,0002,726,000
TOTAL LIABILITIES AND EQUITY:18,867,00026,116,0003,404,0006,360,0003,221,0005,089,000

Income Statement (P&L) (USD)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Gross profit:      (138,000)
Operating expenses(9,361,000)(5,263,000)(3,175,000)(2,130,000)(2,348,000)(1,114,000)
Other undisclosed operating loss      
Operating loss:(9,361,000)(5,243,000)(3,175,000)(2,130,000)(2,364,000)(1,252,000)
Nonoperating income (expense)(65,000)(139,000)(53,000)697,000584,000261,000
Interest and debt expense(39,000)(25,000)    
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Loss from continuing operations:(9,465,000)(5,407,000)(3,228,000)(1,433,000)(1,780,000)(991,000)
Loss before gain (loss) on sale of properties:(5,407,000)(3,228,000)(1,433,000)(1,780,000)(991,000)
Net loss:(9,465,000)(5,407,000)(3,228,000)(1,433,000)(1,780,000)(991,000)
Other undisclosed net income attributable to parent39,0005,000  16,0001,844,000
Net income (loss) available to common stockholders, diluted:(9,426,000)(5,402,000)(3,228,000)(1,433,000)(1,764,000)853,000

Comprehensive Income (USD)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(9,465,000)(5,407,000)(3,228,000)(1,433,000)(1,780,000)(991,000)
Comprehensive loss, net of tax, attributable to parent:(9,465,000)(5,407,000)(3,228,000)(1,433,000)(1,780,000)(991,000)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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