Fair Value Disclosures

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

ASC 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).  The three levels of the fair value hierarchy under ASC 820-10 are described below:

Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
Level 3	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

The following tables set forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy.  As required by ASC 820-10, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

The table below sets forth a summary of the fair values of the Company’s financial assets and liabilities as of September 30, 2014:

	Total		Level 1		Level 2		Level 3
2014
ASSETS:
Investment-Equity Method	$	-	$	-	$	-	$	-
Mining Development Cost		83,350		-		-		83,350
TOTAL:		83,350		-		-		83,350
LIABILITIES:
Securitized Loans		140,000		-		-		140,000
Loan Payable -Related Party		51,000		-		-		51,000
Loan Payable -Other		36,000		-		-		36,000
Asset Retirement Obligation		83,350		-		-		83,350
Total	$	274,350	$	-	$	-	$	274,350