XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
3 Months Ended 68 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss $ (632,748) $ (164,132) $ (4,683,176)
Common stock issued in lieu of cash for interest 146   146
Common stock issued in consideration of services     72,750
Stock based compensation and options 193,384 66,863 453,510
Amortization of debt discounts 119,821   874,421
Loss on extinguishment of debt     1,639,575
Depreciation 1,367   2,717
Prepaid expenses (205,209)   (338,763)
Accounts payable (13,111) 79,457 47,341
Other accrued expenses 70,933   117,409
Net cash used by operating activities (465,417) (17,722) (1,814,070)
Payments related to mining interests (11,000) (11,000) (187,000)
Purchase of equipment (1,986)   (28,993)
Restricted cash as collateral for exploration bonds (21,600) (21,600) (21,600)
Net cash used by investing activities (12,986) (32,600) (237,593)
Proceeds from issuance of stock     601,500
Proceeds exercise of warrants 167,000   499,500
Proceeds from convertible debentures 250,000   969,600
Proceeds from short-term notes, related party   39,400 145,600
Net cash provided by financing activities 417,000 39,400 2,216,200
Net increase (decrease) in cash (61,403) (10,922) 164,537
CASH AT BEGINNING OF PERIOD 225,940 12,220  
CASH AT END OF PERIOD 164,537 1,298 164,537
Common stock issued for common stock payable $ 1,010,710   $ 1,010,710
Debentures converted to common stock payable $ 250,000   $ 250,000
Warrants issued with debentures 119,821   119,821