Subsequent Events	3 Months Ended
Jun. 30, 2012
Subsequent Events
Subsequent Events	Note 12—Subsequent Events *NASDAQ Listing* On June 29, 2012, the NASDAQ OMX Group approved the Company for listing on The NASDAQ Capital Market. Trading in the Company’s shares on NASDAQ commenced under the ticker PGRX on Monday, July 2, 2012. *Completion of Offering* On June 29, 2012, we entered into an underwriting agreement with Dahlman Rose & Company, LLC, ROTH Capital Partners, LLC, Sterne Agee & Leach, Inc., Wunderlich Securities, Inc. and Gilford Securities Incorporated relating to a registered underwritten public offering of 15,400,000 shares of our common stock at $2.60 per share for gross proceeds of $40,040,000. The closing of the offering occurred on July 5, 2012. The net offering proceeds to the Company from the sale of the shares, after deducting the underwriters’ commission and other estimated offering expenses payable by the Company was $36,887,200. *Granting of Options* On July 2, 2012 the Company granted 1,686,000 options to employees under the Employee Plan, of which 150,000 of the granted options are subject to approval by stockholders to increase the amount of shares available under the Employee Plan. Additionally, on July 2, 2012, the Company granted 1,610,000 options to directors and consultants under the Director Plan, of which 740,000 of the granted options are subject to approval by stockholders to increase the amount of shares available under the Director Plan. See further details of both the Employee Plan and Director Plan in Note 11 — Stock Based Compensation). *Issuance of Shares* On July 24, 2012, the Company issued 235,295 units consisting of a share of common stock and a one-year warrant to acquire a share of common stock at an exercise price of $4.25 to one unaffiliated accredited investor. The purchase price was $4.25, and we received proceeds of $1,000,004 from this sale prior to June 30, 2012. The proceeds from this sale are reflected in the balance of cash and cash equivalents as the proceeds were received prior to June 30, 2012; however, the shares were not issued until July 24, 2012. *Updated Mineral Resource Report* On August 2, 2012 Prospect Global’s subsidiary, American West Potash, LLC, received an updated final NI 43-101 compliant mineral resource estimate report, a technical report issued by a third party natural resource expert, with respect to the potash resource on America West Potash’s acreage near Holbrook, Arizona. The initial 43-101 resource calculation was completed in October 2011. Prospect Global designed and executed our spring 2012 drilling program in less than four months, months ahead of schedule. The new resource calculation was performed through a combination of assay results from the 10 newly drilled 2012 wells, 11 of the wells drilled in 2011, and the equivalent K2O (potassium oxide) values calculated from the 57 historical wells’ Gamma Ray Estimation Curves (GREC), plus an extensive wireline study on each well. Efficient conventional underground mine and surface flotation is planned for the resource, producing a mix of granular and standard products. Benefitting from the shallow depth of the potash, access and extraction will be through a decline road rather than shaft and hoist mining.

Note 12—Subsequent Events

NASDAQ Listing

On June 29, 2012, the NASDAQ OMX Group approved the Company for listing on The NASDAQ Capital Market. Trading in the Company’s shares on NASDAQ commenced under the ticker PGRX on Monday, July 2, 2012.

Completion of Offering

On June 29, 2012, we entered into an underwriting agreement with Dahlman Rose & Company, LLC, ROTH Capital Partners, LLC, Sterne Agee & Leach, Inc., Wunderlich Securities, Inc. and Gilford Securities Incorporated relating to a registered underwritten public offering of 15,400,000 shares of our common stock at $2.60 per share for gross proceeds of $40,040,000.

The closing of the offering occurred on July 5, 2012. The net offering proceeds to the Company from the sale of the shares, after deducting the underwriters’ commission and other estimated offering expenses payable by the Company was $36,887,200.

Granting of Options

On July 2, 2012 the Company granted 1,686,000 options to employees under the Employee Plan, of which 150,000 of the granted options are subject to approval by stockholders to increase the amount of shares available under the Employee Plan. Additionally, on July 2, 2012, the Company granted 1,610,000 options to directors and consultants under the Director Plan, of which 740,000 of the granted options are subject to approval by stockholders to increase the amount of shares available under the Director Plan. See further details of both the Employee Plan and Director Plan in Note 11 — Stock Based Compensation).

Issuance of Shares

On July 24, 2012, the Company issued 235,295 units consisting of a share of common stock and a one-year warrant to acquire a share of common stock at an exercise price of $4.25 to one unaffiliated accredited investor. The purchase price was $4.25, and we received proceeds of $1,000,004 from this sale prior to June 30, 2012. The proceeds from this sale are reflected in the balance of cash and cash equivalents as the proceeds were received prior to June 30, 2012; however, the shares were not issued until July 24, 2012.

Updated Mineral Resource Report

On August 2, 2012 Prospect Global’s subsidiary, American West Potash, LLC, received an updated final NI 43-101 compliant mineral resource estimate report, a technical report issued by a third party natural resource expert, with respect to the potash resource on America West Potash’s acreage near Holbrook, Arizona. The initial 43-101 resource calculation was completed in October 2011. Prospect Global designed and executed our spring 2012 drilling program in less than four months, months ahead of schedule.

The new resource calculation was performed through a combination of assay results from the 10 newly drilled 2012 wells, 11 of the wells drilled in 2011, and the equivalent K2O (potassium oxide) values calculated from the 57 historical wells’ Gamma Ray Estimation Curves (GREC), plus an extensive wireline study on each well. Efficient conventional underground mine and surface flotation is planned for the resource, producing a mix of granular and standard products. Benefitting from the shallow depth of the potash, access and extraction will be through a decline road rather than shaft and hoist mining.