XML 52 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 91 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET LOSS $ (2,123,083)us-gaap_ProfitLoss $ (16,771,395)us-gaap_ProfitLoss $ (152,102,782)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash (used in) operations:      
Recapitalization of equity due to reverse merger     2,645us-gaap_RecapitalizationCosts
Impairment of Handcamp estimated value     112,700,000us-gaap_ImpairmentOfOilAndGasProperties
Impairment of mineral rights and properties purchased from related party     18,900,000fil_ImpairmentOfMineralRightsAndPropertiesPurchasedFromRelatedParty
Impairment of mineral rights and properties     16,100,000fil_ImpairmentOfMineralRightsAndProperties
Common shares to be issued for sign on bonus   450,000us-gaap_ShareBasedCompensation 450,000us-gaap_ShareBasedCompensation
Common shares to be issued for compensation 9,900us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims   9,900us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Amortization of debt discount (140,000)us-gaap_AmortizationOfDebtDiscountPremium   (140,000)us-gaap_AmortizationOfDebtDiscountPremium
Derivative liabilities expense (930,693)us-gaap_InterestExpenseTradingLiabilities   (930,693)us-gaap_InterestExpenseTradingLiabilities
Change in derivative liability expense (22,004)us-gaap_IncreaseDecreaseInTradingLiabilities   (22,004)us-gaap_IncreaseDecreaseInTradingLiabilities
Series A preferred shares issued to officers for bonuses     212,000fil_SeriesAPreferredSharesIssuedToOfficersForBonuses
Changes in operating assets and liabilities:      
Accrued compensation to officers 134,000us-gaap_IncreaseDecreaseInAccruedSalaries 160,000us-gaap_IncreaseDecreaseInAccruedSalaries 678,000us-gaap_IncreaseDecreaseInAccruedSalaries
Accounts payable (2,598)us-gaap_IncreaseDecreaseInAccountsPayable 58,862us-gaap_IncreaseDecreaseInAccountsPayable 138,304us-gaap_IncreaseDecreaseInAccountsPayable
Accrued interest payable 15,815us-gaap_IncreaseDecreaseInAccruedLiabilities   18,232us-gaap_IncreaseDecreaseInAccruedLiabilities
NET CASH (USED IN) OPERATING ACTIVITIES (873,269)us-gaap_NetCashProvidedByUsedInOperatingActivities (16,102,533)us-gaap_NetCashProvidedByUsedInOperatingActivities (1,803,421)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:      
Loan proceeds from individual 20,000us-gaap_ProceedsFromLoans   50,000us-gaap_ProceedsFromLoans
Proceeds from related party 13,913us-gaap_ProceedsFromRelatedPartyDebt   13,913us-gaap_ProceedsFromRelatedPartyDebt
Proceeds from convertible notes payable 840,000us-gaap_ProceedsFromConvertibleDebt   840,000us-gaap_ProceedsFromConvertibleDebt
Common shares to be issued for investment     5,000us-gaap_ProceedsFromOtherEquity
Common shares issued for investment     10,000us-gaap_ProceedsFromIssuanceOfCommonStock
Capital contributions from related party     885,630us-gaap_ProceedsFromContributionsFromAffiliates
NET CASH PROVIDED BY FINANCING ACTIVITIES 873,913us-gaap_NetCashProvidedByUsedInFinancingActivities   1,804,543us-gaap_NetCashProvidedByUsedInFinancingActivities
Foreign currency translation adjustment 962us-gaap_TemporaryEquityForeignCurrencyTranslationAdjustments   962us-gaap_TemporaryEquityForeignCurrencyTranslationAdjustments
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (319)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,533)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 158us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS BEGINNING OF THE PERIOD 478us-gaap_CashAndCashEquivalentsAtCarryingValue 6,309us-gaap_CashAndCashEquivalentsAtCarryingValue  
CASH AND CASH EQUIVALENTS END OF THE PERIOD 158us-gaap_CashAndCashEquivalentsAtCarryingValue 3,776us-gaap_CashAndCashEquivalentsAtCarryingValue 158us-gaap_CashAndCashEquivalentsAtCarryingValue
NON-CASH FINANCING ACTIVITIES:      
Purchase of Handcamp property via issuance of common stock     112,539,000fil_PurchaseOfHandcampPropertyViaIssuanceOfCommonStock
Purchase of KATX mineral rights and properties via issuance of common stock     18,900,000fil_PurchaseOfKatxMineralRightsAndPropertiesViaIssuanceOfCommonStock
Purchase of African mineral rights and properties via issuance of common stock   $ 16,100,000fil_PurchaseOfAfricanMineralRightsAndPropertiesViaIssuanceOfCommonStock $ 16,100,000fil_PurchaseOfAfricanMineralRightsAndPropertiesViaIssuanceOfCommonStock