XML 38 R30.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Events (Details) - USD ($)
1 Months Ended
Mar. 16, 2020
Dec. 31, 2019
Dec. 17, 2019
Jun. 30, 2019
Dec. 31, 2018
Subsequent Events (Textual)          
Accounts payable       $ 2,214,314 $ 2,230,314
Convertible notes payable       192,724 $ 168,000
Related party advance       62,724  
Granite Peak Resources [Member]          
Subsequent Events (Textual)          
Accounts payable       16,000  
Accrued expenses       8,724  
Convertible notes payable       38,000  
Related party advance       $ 62,723  
Forecast [Member] | Granite Peak Resources [Member]          
Subsequent Events (Textual)          
Interest rate     6.00%    
Subsequent Event, description The Company executed a Line of Credit ("LOC") with GPR evidenced by a promissory note. The LOC is for up to $2,500,000, matures over three years and may be increased by up to another $1,000,000 and extended an additional two years, respectively, at GPR's sole option. The LOC is for funding operating expenses critical to the Company's redirection and all requests for funds may be approved or disapproved in GPR's sole discretion. The LOC bears interest at 10% per annum, is convertible into shares of the Company's common stock at a per share price of $0.04 based on the last closing sale price and will be secured by the real and personal property GPR already has under lien. The $62,724 advanced by GPR during the six months ended June 30, 2019 will be incorporated into the LOC. 4,500,000 options granted in 2013 and originally exercisable at $0.44 per share were exercised by GPR at a price of $0.0426 per share (the current fair market value per share based on the average of the median price and VWAP for the preceding 90 days) in exchange for the $192,080 note. The Company issued a promissory note to Granite Peak Resources ("GPR") for $192,079.97 representing the disbursements made on the Company's behalf during 2019. The note is payable one year from its issuance and accrues interest at 6% per annum.