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Organization, Consolidation and Presentation of Financial Statements
3 Months Ended
Sep. 30, 2011
Organization, Consolidation and Presentation of Financial Statements 
Nature of Operations [Text Block]

Note 1- Nature of Operations

Joshua Gold Resources Inc. (until February 10, 2011 known as Bio-Carbon Systems International  Inc., collectively referred to herein as “Joshua”, or the “Company”), was incorporated on July 10, 2009 in the State of Nevada.

 

The Company operates as a mineral exploration business located in Oakville, Ontario.  Its principal business activity is the exploration of mineral property interests in Canada.  The Company is considered to be in the exploration stage and substantially all of the Company’s efforts are devoted to exploring these property interests.  There has been no determination whether the Company’s interests in unproven mineral properties contain mineral reserves which are economically recoverable.

 

On December 23, 2010, the Company optioned a 1,550 acre mineral lease in the Canadian territory, the Northwest Territories, two hours north-north-west of the capital city of Yellowknife.  On June 25, 2011 the Company optioned a 3,128.4 acre mineral claim in the Canadian Province, Ontario.  The property is located south west of the mining centre of Timmins Ontario.

Basis of Accounting [Text Block]

Note 2- Basis of Presentation

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Security and Exchange Commission ("SEC") Form 10-Q and Article 8 of SEC Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the three and nine months ended September 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. 

Comparability of Prior Year Financial Data, Policy [Policy Text Block]

Note 9- Comparative Figures

 

Certain figures shown for comparative purposes have been reclassified to conform to the presentation adopted in the current period.

Going Concern Note

Note 3- Going Concern

The financial statements have been prepared on a going concern basis.  The going concern basis of presentation assumes that the Company will continue operations for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of operation.

 

The Company has incurred a net loss of $124,337 for the nine months ended September 30, 2011, and a working capital deficit of $165,661.  This casts doubt on the Company’s ability to continue as a going concern unless it can generate net profit and raise adequate financing.

 

The Company has been seeking additional debt or equity financing to support its operations until it becomes cash flow positive.  There can be no assurances that action and plan such as above will be sufficient for the Company to continue operating as a going concern.  

 

The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts classified as liabilities that might be necessary should the Company be unable to continue in existence. These adjustments could be material.