2.4.0.8101 - Disclosure - Organization, Nature of Business, Going Concern and Management Planstruefalsefalse1false falsefalsefrom-2012-10-01-to-2013-06-30.873.0.0.0.0.0.0.0http://www.sec.gov/CIK0001532828duration2012-10-01T00:00:002013-06-30T00:00:001true 1us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Organization, Nature of Business, Going Concern and Management Plans [Abstract]2false 2us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="COLOR: black; WIDTH: 2%">1.</td> <td style="COLOR: black; TEXT-ALIGN: justify; WIDTH: 97%"> Organization, Nature of Business, Going Concern and Management Plans</td> </tr> </table>   Organization and Nature of Business   Trio Resources, Inc. (the "Company" or "Trio Resources"), formerly Allied Technologies Group, Inc. ("Allied") was incorporated in the state of Nevada on September 22, 2011.   On December 14, 2012 Allied entered into a transaction (the "Share Exchange"), pursuant to which the Company acquired 100% of the issued and outstanding equity securities of TrioResources AG Inc. ("Trio"), which became a wholly owned subsidiary of the Company. The acquisition was accounted for as a recapitalization using accounting principles applicable to reverse acquisitions whereby the unaudited condensed consolidated financial statements subsequent to the date of the acquisition are presented as a continuation of TrioResources AG Inc. Under reverse acquisition accounting TrioResources AG Inc. (legal subsidiary) will be treated as the accounting parent (acquirer) and Trio Resources, Inc. (legal parent) will be treated as the accounting subsidiary (acquiree). All outstanding shares have been restated to reflect the effect of the reverse acquisition, which includes one for one issuance of Trio Resources, Inc. shares to the TrioResources AG Inc. shareholders.   Under the terms of the Share Exchange, Ihar Yaravenka, the former sole director, officer, and principal shareholder of Trio Resources, Inc. (the "Principal Shareholder"), cancelled all 1,500,000 shares of Common Stock that he owned, which constituted 57.9% of the issued and outstanding shares of Common Stock prior to the Share Exchange.   As a result of the Share Exchange, Trio became the wholly owned subsidiary of the Company and the Trio Shareholders became the controlling shareholders of the Company, owning an aggregate of 66.15% of the issued and outstanding shares of Common Stock. In connection with the Share Exchange, the Principal Shareholder submitted a resignation letter resigning from his positions as the sole director and officer of the Company, effective upon the closing of the Share Exchange, and the directors of Trio were appointed to the Board of Directors of the Company, and the officers of Trio were appointed as the officers of the Company.   The Company has filed a Certificate of Amendment of its Articles of Incorporation (the "Charter Amendment") with the Secretary of State of Nevada to (1) change its name from Allied Technologies Group, Inc. to Trio Resources, Inc. (the "Name Change") and (2) increase its total authorized shares of Common Stock, from 75,000,000 shares to 400,000,000 shares (the "Authorized Share Increase"). Additionally, as a condition to close the Share Exchange, the Company's Board of Directors approved and authorized the Company to take the necessary steps to effect a forward stock split of the issued and outstanding shares of Common Stock, such that each lot of one (1) issued and outstanding share of Common Stock shall be automatically changed and converted into one hundred (100) shares of Common Stock, payable to all holders of record of the Common Stock as of December 31, 2012 (the "Forward Stock Split").   The Share Exchange was accounted for as a reverse takeover/recapitalization effected by a share exchange, wherein Trio is considered the acquirer for accounting and financial reporting purposes. The effective date of the Share Exchange Agreement is December 14, 2012 and all of the necessary accounting adjustments were fully reflected in the June 30, 2013 unaudited condensed interim consolidated financial statements.   The Company is considered to be an Exploration Stage company as defined under SEC Guide 7 (a) (4) (i) Description of Property by Issuers Engaged or to be Engaged in Significant Mining. The Company's principal business is the exploration of mineral resources on the Company's existing property and any new properties it may acquire and processing of mineralized material on its property.   Going Concern and Management's Plans   The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared assuming that the Company will continue as a going concern. Since its inception on May 16, 2012, the Company has not generated significant revenue and has incurred a net loss of $2,101,595. The Company has a working capital deficit of $421,015 as at June 30, 2013, and incurred a net loss accumulated during the exploration stage of $2,378,631 as at June 30, 2013. Accordingly, it has not generated positive cash flows from operations and has primarily relied upon debt and equity financing from third parties and related parties to fund its operations. The Company has negotiated a Canadian (CDN) $500,000 Draw Down facility with Seagel Investments Corp. of which $425,000 has been drawn as at June 30, 2013. However, there can be no assurance that such financial support shall be ongoing or available on terms or conditions acceptable to the Company. These factors raise substantial doubt about the Company's ability to continue as a going concern. Accordingly, no adjustment relating to the recoverability and classification of recorded asset amounts and the classification of liabilities has been made to the accompanying financial statements in anticipation of the Company not being able to continue as a going concern.   Acquisition   On December 14, 2012, Trio Resources (formerly Allied Technologies Group, Inc.) entered into a transaction (the "Share Exchange"), pursuant to which the Company acquired 100% of the issued and outstanding equity securities of TrioResources AG Inc., which became a wholly owned subsidiary of the Company. Part of the consideration was a payment of $250,000 to Ihar Yaravenka, the former, sole officer, director and controlling shareholder. As at the close of the Share Exchange, Allied Technologies Group Inc. had no assets or liabilities. Prior to the acquisition Allied Technologies Group, Inc. was a public shell company.   Allied Technologies Group, Inc. was incorporated on September 22, 2011 under the laws of the State of Nevada. This company was a public shell company prior to the acquisition.   TrioResources AG Inc. was incorporated on May 16, 2012 under the laws of the province of Ontario, Canada, is headquartered in Toronto, Ontario, Canada. This company is an exploration company pursuing plans to focus on exploration, milling, and processing of mineralized material located on its property.   Pursuant to the terms and conditions of the Share Exchange Agreement, Trio Resources, Inc. acquired 100% of the capital stock, 2,130,000 common shares, of TrioResources AG Inc. in exchange for the issuance of 2,130,000 shares of common stock, of Trio Resources, Inc. In addition, the former sole director, officer, and principal shareholder of Trio Resources, Inc. (the "Principal Shareholder"), cancelled all 1,500,000 shares of Common Stock that he owned. The result is that the shareholders of TrioResourcses AG Inc. own 66.15% of the total shares of Trio Resources, Inc. outstanding effective the date of the Exchange Agreement.   The Share Exchange was accounted for as a reverse takeover/recapitalization effected by a share exchange, wherein TrioResources AG Inc. is considered the acquirer for accounting and financial reporting purposes.   Comparative Presentations   Since for accounting purposes TrioResources AG Inc. is the accounting acquirer, and since TrioResources AG Inc. was incorporated on May 16, 2012, comparative quarterly information is being presented for the period from May 16, 2012 to June 30, 2012. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6228881-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -SubTopic 15 -URI http://asc.fasb.org/subtopic&trid=2122524 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2197480 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 915 -SubTopic 235 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2209116 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2134480 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2122150 false0Organization, Nature of Business, Going Concern and Management PlansfalseOrganization, Nature of Business, Going Concern and Management PlansUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.trioresources.com/role/OrganizationNatureOfBusinessGoingConcernAndManagementPlans12