XML 21 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash $ 16,216 $ 2,609
Accounts receivable 13,735 46,417
Prepaid expenses 0 79,464
Total current assets 29,951 128,490
Investments in mineral properties, net of accumulated amortization of $132,499 and $135,987, respectively 1,582,324 1,965,577
Capitalized financing costs, net of amortization of $6,737 and $0, respectively 41,263 0
Total assets 1,653,538 2,094,067
Current liabilities:    
Accounts payable and other liabilities 567,629 565,552
Short term note from officer 39,200 0
Note payable and accrued interest 0 202,484
Convertible debenture, net of discount of $0 and $212,070 0 2,164,205
Convertible debenture 0 633,306
Accrued interest on convertible debenture 41,073 456,638
RoyaltyRoyalty interestinterest payablepayable 0 113,164
Derivative liability 559 0
Loan guarantee 0 94,860
Total current liabilities 648,461 4,230,209
Long term liabilities:    
Note payable, net of discount of $178,471 and $0 359,529 0
Convertible debenture 633,306 0
Total long term liabilities 992,835 0
Total liabilities 1,641,296 4,230,209
Stockholders' equity (deficit):    
Common stock, $0.001 par value, 200,000,000 shares authorized, 47,620,406 and 32,867,028 shares issued and outstanding as December 31, 2012 and 2011, respectively 47,621 32,867
Common stock to be issued; 6,423,708 and 0 shares as of December 31, 2012 and 2011 6,424 0
Additional paid-in capital 13,731,097 8,313,575
Accumulated comprehensive gain (loss) 4,706 (8,114)
Accumulated deficit (13,777,606) (10,474,470)
Total stockholders' equity (deficit) 12,242 (2,136,142)
Total liabilities and stockholders' equity (deficit) $ 1,653,538 $ 2,094,067