XML 49 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 1,001 $ 2,185
Prepaid expenses 11,145
Assets held for Sale 12,000
Total current assets 1,001 25,330
Mining and Mineral Rights 3,883,524 3,883,524
Total Assets 3,884,525 3,908,854
Current liabilities:    
Senior secured convertible promissory note payable, related party 2,229,187 2,229,187
Promissory notes payable - related party 477,500 477,500
Convertible promissory note, net of Discount of $-0-, and $34,860 at December 31, 2018 and December 31, 2017, respectively 168,000 299,936
Accrual for settlement of lawsuits 2,976,623 2,501,000
Due to Wits Basin Precious Minerals Inc. 16,616
Accounts payable 2,230,314 2,429,386
Accrued interest - Related party $1,096,235 and $871,317 at December 31, 2018 and December 31, 2017, respectively 1,338,251 953,222
Accrued expenses 855,046
Accounts payable to related party 1,000
Total current liabilities 9,419,875 9,762,893
Commitments and Contingencies (Note 9)
Preferred stock, 50,000,000 shares authorized:    
Series A, $.001 par value, 10,000,000 and 10,000,000 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively 10,000,000 10,000,000
Shareholders' deficit:    
Common stock, $0.001 par value, 500,000,000 shares authorized: 129,497,423 issued and 124,497,423 outstanding at December 31, 2018 and 124,501,581 issued and 119,501,581 outstanding at December 31, 2017, respectively 124,497 119,502
Additional paid-in capital 87,525,115 87,201,267
Accumulated deficit (103,184,962) (103,174,808)
Total shareholders' deficit (15,535,350) (15,854,039)
Total Liabilities and Shareholders' deficit $ 3,884,525 $ 3,908,854