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Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended83 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Cash flows from operating activities:   
Net loss$ (1,369,011)$ (624,088)$ (7,473,896)
Adjustments to reconcile net loss to net cash used in operating activities:   
Depreciation10 5,462
Accretion of debt64,62953,613171,854
Amortizaton of deferred mineral lease rent obligation(9,759)(9,760)43,918
Stock-based compensation expense584,06138,5351,197,680
Special warrants issued in payment for leases  188,160
Notes payable issued in payment for leases  126,840
(Increase) decrease in operating assets:   
Prepaid and other assets91,857116,282(79,825)
Increase (decrease) in operating liabilities:   
Accounts payable114,946 114,946
Accrued expenses(146,888)310,6262,804,974
Accrued interest on convertible debt39,829 39,829
Net cash used in operating activities(630,326)(114,792)(2,860,058)
Cash flows from investing activities:   
Acquisition of property and equipment(588) (6,040)
Net cash used in investing activities(588) (6,040)
Cash flows from financing activities:   
Proceeds from issuance of notes payable400,000 862,000
Proceeds from issuance of common stock and special warrants 152,4071,827,408
Net cash received in reverse merger852,759 852,759
Principal payments on notes payable(65,900) (65,900)
Net cash provided by financing activities1,186,859152,4073,476,267
Net increase in cash555,94537,615610,169
Cash, beginning of the period54,224776 
Cash, end of the period610,16938,391610,169
Supplemental schedule of non-cash investing and financing activities:   
Conversion of notes payable to common stock188,595 666,779
Convertible note issued for accrued expenses214,669 214,669
Issuance of warrants associated with convertible notes payable233,244 233,244
Supplemental disclosures of cash flow information:   
Interest paid12,153  
Income taxes paid$ 700