XML 30 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 114 Months Ended
Oct. 31, 2013
Oct. 31, 2012
Oct. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ (265,055) $ 756,192 $ (3,097,507)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation expense 1,321 1,321 4,027
Stock-based compensation    125,000 125,000
Stock-based compensation - related party 149,995 232,779 1,466,424
Amortization of debt discount       9,618
Gain on settlement of accounts payable - related party (12,338)    (12,338)
Unrealized and realized (gain) loss on derivatives, net (186,596) (1,839,763) (1,748,477)
Changes in operating assets and liabilities:      
Other receivables    5,907   
Prepaid expenses 6,913 4,748 (9,370)
Prepaid expenses - related party         
Accounts payable 8,933 33,561 (1,948)
Accounts payable - related party (2,807) 67,682 256,731
Other accrued expenses - related party 40,500 40,500 97,142
Interest accrued on notes payable from related party       1,621
Net cash used in operating activities (259,133) (572,073) (2,909,077)
Cash flows from investing activities:      
Purchase of property and equipment       (8,809)
Acquisition of mining rights    (40,000) (70,000)
Net cash used in investing activities    (40,000) (78,809)
Cash flows from financing activities:      
Proceeds from related party loans       92,430
Proceeds from common and preferred stock issued, net of offering costs    168,250 2,958,523
Payments from cancellation of common stock       (63,000)
Net cash provided by financing activities    168,250 2,987,953
Net increase (decrease) in cash (259,133) (443,823) 67
Cash - beginning of period 259,200 828,181   
Cash - end of period 67 384,358 67
Cash paid during the period for:      
Interest         
Income taxes         
Noncash investing and financing activities:      
Contributed capital       374
Debt discount due to derivative liabilities       9,618
Contributed capital - payables settled by stockholder       157,665
Issuance of common stock for convertible notes       3,660
Re-class of derivatives related to convertible notes       91,365
Issuance of derivative warrant instruments    101,985 1,969,152
Related party note receivable write-off       557,927
Common stock cancellation    1,000 62,700
Issuance of common stock for acquisition of mining rights    3,750 21,250
Settlement of related party debt $ 2,500    $ 2,500