PREPAID EXPENSES

6 Months Ended

Jun. 30, 2012

PREPAID EXPENSES [Abstract]

PREPAID EXPENSES

NOTE 7 - PREPAID EXPENSES

In January 2012, Silver Falcon Mining issued 43,852,978 shares of its Class A Common Stock valued at $1,534,854 to various officers of Goldland (who are also Silver Falcon Mining, Inc. officers) to pay compensation owed to them by Goldland for the year 2012. We capitalized these payments as a prepaid expense, and amortized the amounts over the twelve months of 2012.