XML 20 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
9 Months Ended 74 Months Ended
Jan. 31, 2013
Jan. 31, 2012
Jan. 31, 2013
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss $ (1,824,387) $ (606,677) $ (5,874,815)
Common stock issued in lieu of cash for interest 146   146
Common stock issued in consideration of services 8,750 45,000 81,500
Stock based compensation 548,224 126,904 808,350
Amortization of debt discounts 119,821   874,421
Loss on extinguishment of debt     1,639,575
Depreciation 4,436   5,786
Prepaid expenses 130,941 (199,329) (2,613)
Accounts payable (456) 107,837 59,995
Other accrued expenses 25,878   72,355
Net cash used by operating activities (986,647) (526,265) (2,335,300)
Payments related to mining interests (41,000) (28,750) (217,000)
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 (42,986) (50,350) (267,593)
Proceeds from issuance of stock 357,846   959,346
Proceeds exercise of warrants 256,734   589,234
Proceeds from convertible debentures 250,000 599,582 969,600
Proceeds from short-term notes, related party 30,000 105,400 175,600
Payments on short-term notes, related party (30,000)   30,000
Net cash provided by financing activities 864,580 704,982 2,663,780
Net increase (decrease) in cash (165,053) 128,637 60,887
CASH AT BEGINNING OF PERIOD 225,940 12,220  
CASH AT END OF PERIOD 60,887 140,587 60,887
Options issued for mining interests 10,500 4,500 111,249
Common stock issued for mining interests 10,500   34,750
Short term notes, related party converted to debentures     145,400
Common stock issued for common stock payable $ 1,010,710   $ 1,010,710
Accrued interest paid with common stock payable 5,816   22,276
Executive compensation paid with common stock   92,000 92,000
Debentures converted to common stock payable $ 1,150,000   $ 1,150,000
Warrants issued with debentures 119,821   119,821