XML 28 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
REVENUE    
Concentrate sales $ 248,344 $ 162,762
EXPENSES    
General production costs 1,587,057 707,732
Exploration expense 3,146 1,300
Officers and directors fees 253,752 252,000
Legal and professional 129,135 71,349
General and administrative 685,925 241,744
Depreciation and amortization 421,228 430,934
Total Expenses 3,080,243 1,705,059
OPERATING LOSS (2,831,899) (1,542,297)
OTHER INCOME (EXPENSE)    
Gain on extinguishment of DMRJ debt (Note 13) 24,916,561
Interest and other income 236 167
Interest and financing expense (46,760) (93,312)
Financing expense - related parties (Note 9) (120,000)
Interest expense - related parties (Notes 9 and 10) (151,749) (145,691)
Interest expense - DMRJ (Note 13) (421,891) (2,295,508)
Total Other Income (Expense) 24,176,397 (2,534,344)
INCOME (LOSS) BEFORE INCOME TAXES 21,344,498 (4,076,641)
INCOME TAXES
NET INCOME ( LOSS) 21,344,498 (4,076,641)
DEEMED CAPITAL CONTRIBUTION ON EXTINGUISHMENT OF PREFERRED STOCK (NOTE 13) 4,068,720
NET INCOME ( LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 25,413,218 $ (4,076,641)
BASIC INCOME (LOSS) PER SHARE $ 1.32 $ (0.30)
DILUTED INCOME (LOSS) PER SHARE $ 1.12 $ (0.30)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-BASIC 19,196,808 13,682,082
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-DILUTED 22,654,411 13,682,082