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Consolidated Balance Sheets (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 3,444,003 $ 5,427
Accounts receivable, less allowance for doubtful accounts of $4,031 and $7,600, respectively   1,291,975
Inventories   1,066,813
Other current assets   56,208
Deferred tax asset   396,558
Total current assets   2,816,981
Properties, plants and equipment, net 7,484,436 6,047,004
Restricted cash for reclamation bonds   74,777
Other assets   54,766
Total assets 13,437,010 8,993,528
Current liabilities:    
Checks issued and payable   113,908
Deferred revenue   43,760
Accounts payable   994,940
Accrued payroll, taxes and interest   141,928
Other accrued liabilities   119,292
Payables to related parties   331,978
Long-term debt, current (258,988) 79,631
Total current liabilities   1,825,437
Long-term debt, noncurrent 134,503 158,218
Asset retirement and accrued reclamation costs   241,500
Total liabilities   2,225,155
Stockholders' equity:    
Preferred stock $0.01 par value, 10,000,000 shares authorized: Series A: no shares issued and outstanding     
Series B: 750,000 shares issued and outstanding (liquidation preference $877,500)   7,500
Series C: 177,904 shares issued and outstanding (liquidation preference $97,847)   1,779
Series D: 1,751,005 shares issued and outstanding (liquidation preference and cumulative dividends of $4,714,433)   17,509
Common stock, $0.01 par vaue, 90,000,000 shares authorized; 61,786,822 and 59,349,300 shares issued and outstanding, respectively   593,492
Additional paid-in capital   25,635,129
Accumulated deficit   (19,487,036)
Total stockholders' equity   6,768,373
Total liabilities and stockholders' equity   8,993,528
Unaudited
   
Current assets:    
Cash and cash equivalents 3,444,003  
Certificates of deposit (Note 4) 242,800  
Accounts receivable, less allowance for doubtful accounts of $4,031 and $7,600, respectively 456,508  
Inventories 1,077,271  
Other current assets 57,660  
Deferred tax asset 470,869  
Total current assets 5,749,111  
Properties, plants and equipment, net 7,484,436  
Restricted cash for reclamation bonds 74,777  
Other assets 128,686  
Total assets 13,437,010  
Current liabilities:    
Checks issued and payable     
Deferred revenue     
Accounts payable 829,329  
Accrued payroll, taxes and interest 98,409  
Other accrued liabilities 63,696  
Payables to related parties 10,434  
Long-term debt, current 258,988  
Total current liabilities 1,260,856  
Long-term debt, noncurrent 134,503  
Asset retirement and accrued reclamation costs 245,520  
Total liabilities 1,640,879  
Stockholders' equity:    
Preferred stock $0.01 par value, 10,000,000 shares authorized: Series A: no shares issued and outstanding     
Series B: 750,000 shares issued and outstanding (liquidation preference $877,500) 7,500  
Series C: 177,904 shares issued and outstanding (liquidation preference $97,847) 1,779  
Series D: 1,751,005 shares issued and outstanding (liquidation preference and cumulative dividends of $4,714,433) 17,509  
Common stock, $0.01 par vaue, 90,000,000 shares authorized; 61,786,822 and 59,349,300 shares issued and outstanding, respectively 617,868  
Additional paid-in capital 30,750,974  
Accumulated deficit (19,599,499)  
Total stockholders' equity 11,796,131  
Total liabilities and stockholders' equity $ 13,437,010