XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 207,375 $ 173,287
Accounts receivable 9,305
Inventories (NOTE 5) 4,455,677 5,341,997
Prepaid expenses and other current assets 14,729 18,713
TOTAL CURRENT ASSETS 4,687,086 5,533,997
INVENTORIES (NOTE 5) 1,197,018 1,505,020
PROPERTY AND EQUIPMENT, net (NOTE 6) 5,076,244 5,389,660
MINERAL PROPERTIES AND INTERESTS, net (NOTE 7) 3,751,763 3,785,868
RECLAMATION BONDS (NOTE 4) 947,051 758,011
TOTAL ASSETS 15,659,162 16,972,556
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 447,317 1,459,605
Royalties and upside participation payable (NOTE 3) 1,375,842 798,257
Accrued liabilities – officers and other wages (NOTE 13) 112,159 71,697
Notes payable – equipment, current portion (NOTE 8) 819,294 981,759
Settlement of consulting contract payable 200,000 200,000
Prepaid forward gold contract liability, current portion (NOTE 3) 3,336,618
Due to PDK in lieu of gold deliveries (NOTE 3) 3,038,000
Prepaid forward gold contract liability (NOTE 3) 11,843,550 10,263,382
TOTAL CURRENT LIABILITIES 17,836,162 6,847,936
Note payable – equipment, net of current portion (NOTE 8) 189,923 226,427
Asset retirement obligation (NOTE 9) 1,301,321 1,233,514
TOTAL LONG-TERM LIABILITIES 1,491,244 11,723,323
TOTAL LIABILITIES 19,327,406 18,571,259
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred Stock, $.001 par value; 10,000,000 shares authorized, none issued or outstanding
Common Stock, $.001 par value; 100,000,000 shares authorized; 26,831,603 and 26,831,603 shares issued and outstanding, respectively 26,833 26,833
Additional paid-in capital 9,666,275 9,666,275
Accumulated deficit (13,361,352) (11,291,811)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) (3,668,244) (1,598,703)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 15,659,162 $ 16,972,556