XML 30 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets    
Cash $ 965,888 $ 3,963,836
Prepayments 148,131 67,910
Total current assets 1,114,019 4,031,746
Non current assets    
Vehicles and other equipment, net 455,425 97,916
Total non current assets 455,425 97,916
Total assets 1,569,444 4,129,662
Current liabilities    
Accounts payable and accrued expenses 141,326 119,123
Accounts payable and accrued expenses - related party 60,441 126,220
Advances payable - related party 32,000 32,000
Total current liabilities 233,767 277,343
Stockholders’ Equity (Deficiency)    
Common stock with par value of $0.005 each Authorized: 300,000,000 (Dec 31, 2012: 300,000,000) Issued and outstanding: 49,828,942 (Dec 31, 2012: 49,828,942) 249,146 249,146
Additional paid-in capital 27,211,349 27,211,349
Accumulated deficit during the exploration stage (26,023,640) (23,600,974)
Accumulated other comprehensive income (loss) (101,178) (7,202)
Total stockholders’ equity (deficiency) 1,335,677 3,852,319
Total liabilities and stockholders’ equity (deficiency) $ 1,569,444 $ 4,129,662