XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF OPERATIONS (unaudited) (USD $)
3 Months Ended 9 Months Ended 82 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
REVENUES:          
Sales               
Cost of sales               
Gross profit               
EXPENSES:          
Wages         121,299
Geologist and geophysicist         105,579
Accounting and legal 33,153   70,284 87,635 336,794
Office and other expenses 11,317   27,190 614 41,218
Vehicle expenses         6,692
Claim option expenses         52,500
Drilling and excavation 10,250   62,290   251,570
Travel and entertainment         16,429
Assay and related         103,599
Total expenses 54,720   159,764 88,249 1,035,680
Loss from operations (54,720)   (159,764) (88,249) (1,035,680)
Impairment of mineral rights and properties purchased from related party     (16,100,000)   (35,000,000)
Impairment of Handcamp division property purchase         (112,700,000)
Total impairments     (16,100,000)   (147,700,000)
Loss before income taxes (54,720)   (16,259,764) (88,249) (148,735,680)
Provision for income taxes               
NET LOSS $ (54,720)   $ (16,259,764) $ (88,249) $ (148,735,680)
Basic and fully diluted net loss per share $ (0.0001)   $ (0.0429) $ (0.0005) $ (0.88)
Weighted average common shares outstanding 459,644,500 163,644,500 379,144,500 163,644,500 168,954,126