XML 24 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED STATEMENT OF CASH FLOWS (USD $)
12 Months Ended 58 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Cash Flows from Operating Activities:      
Net Loss $ (898,473) $ (69,436) $ (1,093,452)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:      
Common Stock Issued for Services 90,800    96,800
Common Stock Issuable for Services 74,000   74,000
Common Stock Issued for Mining Rights 2,500    2,500
Stock Compensation Cost 13,283   13,283
Amortization of Debt Discount 19,723    19,723
Impairment of Mining Leases 2,500    2,500
Changes in Assets and Liabilities:      
Increase in Accrued Expenses 104,791 29,858 143,901
Net Cash Used in Operating Activities (590,876) (39,578) (740,745)
Cash Flows from Investing Activities:         
Cash Flows from Financing Activities:      
Proceeds of Borrowings 75,000 45,741 185,871
Proceeds from Sale of Common Stock and warrant 585,000    655,800
Repayment of Borrowings (75,000)    (75,000)
Payments of Deferred Offering Costs       (25,000)
Expenses of Offering       (35)
Net Cash Provided by Financing Activities 585,000 45,741 741,636
Increase in Cash (5,876) 6,163 891
Cash - Beginning of Period 6,767 604   
Cash - End of Period 891 6,767 891
Supplemental Disclosures of Cash Flow Information:      
Interest Paid         
Income Taxes Paid         
Supplemental Schedule of Non-Cash Investing and Financing activities:      
Deferred Offering Costs Charged to Additional Paid-In Capital       25,000
Deferred Offering Costs Recorded in Accounts Payable       7,500
Common Stock Issued for Mining Lease 2,500 2,500 5,000
Debt forgiveness 97,785    97,785
Consulting fees forgiveness $ 12,000    $ 12,000