XML 25 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating expenses:    
Mine preparation costs $ 72,711 $ 255,918
Exploration expense 7,698
Depreciation 716
Management fees and salaries 207,219 210,563
Professional services 123,930 111,273
General and administrative 352,818 346,737
Office supplies and other 23,659 13,883
Directors’ fees 23,500 13,200
Mineral property maintenance 106,010 115,055
Reclamation expense 48,096
Arbitration costs (Note 4) 80,318 173,877
Total operating expenses 997,863 1,289,318
Other (income) expense:    
CARES Act grant income (2,000)
Change in fair value of notes payable in gold (21,810) 97,271
Interest expense and finance costs 249,886 249,239
Interest expense and finance costs – related party 584,355 535,712
Gain on forgiveness of CARES Act PPP loan (51,135)
Total other (income) expense 761,296 880,222
Net loss (1,759,159) (2,169,540)
Preferred dividends (7,604) (7,625)
Net loss available to common stockholders $ (1,766,763) $ (2,177,165)
Net loss per common share – basic and diluted $ (0.01) $ (0.01)
Weighted average common shares outstanding-basic and diluted 173,356,424 147,251,503