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Statement of Cash Flows (USD $)
9 Months Ended 134 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Oct. 31, 2012
Operating Activities      
Net loss $ (2,010,349) $ (1,869,247) $ (63,441,610)
Depreciation 33,612 47,902 913,142
Amortization of deferred financing charges 0 0 542,716
Amortization of discount on convertible promissory notes 0 0 3,632,995
Impairment loss 0 0 16,092,870
Loss on sale of fixed assets 12,119 0 54,572
(Gain) Loss on change in fair value of warrant liability (6,408) 0 3,667,626
Share based compensation 38,998 0 4,440,931
Share and warrant based payments 0 0 14,421,627
Non-cash other income from sale of mineral claims 0 0 (1,000,000)
Non-cash geological costs paid from the issuance of convertible promissory note 0 561,816 730,174
Changes in assets and liabilities:      
Prepaid expenses and supplies (219) 2,447 28,077
Other current assets 0 0 (7,875)
Certificates of deposit 3,000 0 (8,435)
Other assets 0 0 (25,000)
Accounts payable and accrued expenses 179,716 (14,008) 186,171
Accrued wages to related parties 54,250 27,000 237,617
Accrued interest 330,449 257,651 1,265,621
Net cash used in operating activities (1,364,832) (986,439) (18,268,781)
Investing Activities      
Proceeds from the sale of fixed assets 0 0 407,327
Proceeds from redemption of certificate of deposit 0 0 213,232
Purchase of certificate of deposit 0 0 (204,797)
Purchase of equipment (5,419) (28,813) (1,184,693)
Net cash used in investing activities (5,419) (28,813) (768,931)
Financing Activities      
Principal activity on long-term debt (3,431) (2,671) (503,747)
Principal activity on capital lease obligation 0 0 (39,298)
Principal activity on convertible promissory notes 0 0 (286,227)
Proceeds from the issuance of common stock, net of expenses 1,312,884 100,000 13,990,759
Proceeds from the sale of convertible promissory notes 0 0 5,772,371
Proceeds from long-term debt 0 0 198,925
Net cash provided by (used in) financing activities 1,309,453 97,329 19,132,783
Net Increase (Decrease) In Cash And Cash Equivalents (60,798) (917,923) 95,071
Cash And Cash Equivalents, Beginning Of Period 155,869 1,100,315 0
Cash And Cash Equivalents, End Of Period 95,071 182,392 95,071
Supplemental Information      
Interest paid 2,889 1,677 205,740
Income taxes paid $ 0 $ 0 $ 0