XML 30 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
3 Months Ended 58 Months Ended
Mar. 31, 2012
Mar. 31, 2012
Cash Flows from Operating Activities:    
Net loss $ (1,246,043) $ (2,276,239)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation expense    5,833
Stock-based compensation 962,025 1,069,797
Loss on disposal of assets    1,167
Impairment of mineral property    50,124
Shares issued for services    17,500
Gain on debt settlement    (17,631)
Changes in Assets and Liabilities    
Decrease (increase) in prepaid expenses    (25,000)
Increase (decrease) in accounts payable 62,343 91,353
Increase in accrued expenses - related party 38,316 49,041
Net Cash Provided by (Used in) Operating Activities (183,359) (1,034,055)
Cash Flows used in Investing Activities:    
Acquisition of property and equipment    (7,000)
Payment on mineral property options (85,000) (195,124)
Net Cash Used in Investing Activities (85,000) (202,124)
Cash Flows from Financing Activities:    
Common stock issued for cash 1,000,500 2,086,386
Net Cash Provided by Financing Activities 1,000,500 2,086,386
Net Increase in Cash and Cash Equivalents 732,141 850,207
Cash and Cash Equivalents - Beginning 118,066   
Cash and Cash Equivalents - Ending 850,207 850,207
Supplemental Cash Flow Information:    
Cash paid for interest      
Cash paid for income taxes