XML 28 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (USD $)
3 Months Ended 61 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Cash Flows from Operating Activities:      
Net Loss $ (269,618) $ (140,701) $ (1,363,070)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:      
Common Stock Issued for Services      96,800
Common Stock Issuable for Services 39,000   113,000
Common Stock Issued for Mining Rights     2,500
Stock Compensation Cost 7,970   21,253
Amortization of Debt Discount    433 19,723
Impairment of Mining Leases      2,500
Changes in Assets and Liabilities:      
Increase in Accrued Expenses 36,348 89,884 180,249
Net Cash Used in Operating Activities (186,300) (50,384) (927,045)
Cash Flows from Investing Activities:         
Cash Flows from Financing Activities:      
Proceeds of Borrowings 30,150 75,000 216,021
Proceeds from Sale of Common Stock and Warrants 190,000 15,000 845,800
Repayment of Borrowings     (75,000)
Payments of Deferred Offering Costs       (25,000)
Expenses of Offering       (35)
Repayment of Due to Shareholder    (6,000)  
Net Cash Provided by Financing Activities 220,150 84,000 961,786
Increase in Cash 33,850 33,616 34,741
Cash - Beginning of Period 891 6,767  
Cash - End of Period 34,741 40,383 34,741
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
Common Stock Issued for Mining Equipments 266,000 0 266,000
Common Stock Issued for Shares Issuable $ 74,000 $ 0 $ 74,000