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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
Cash $ 8,621 $ 0
Accounts Receivable, net 80,302 55,998
Notes Receivable - Related Parties 583,042 583,398
Interest Receivable - Related Parties 59,428 62,994
Total Current Assets 731,393 702,390
Mining Lease Rights 1,529,536 1,525,000
Interest Receivable 151,868 151,868
Deposits 10,000 11,500
Deferred Charges 4,245 0
Goodwill 1,228,856 1,228,856
TOTAL ASSETS 3,655,898 3,619,614
Bank Overdraft 0 45,654
Accounts Payable 527,783 460,170
Accrued Payroll and Payroll Taxes 22,996 33,252
Other Accrued Liabilities 2,275 1,639
Dividends Payable 33,750 33,750
Notes Payable, net of discount 66,967 110,721
Notes Payable - Related Parties 819,414 534,375
Accrued Interest 13,215 12,980
Accrued Interest - Related Parties 356,808 324,308
Total Current Liabilities 1,843,208 1,556,849
TOTAL LIABILITIES 1,843,208 1,556,849
Preferred stock, Class B - $0.001 par value, 300,000 shares designated, 70,000 issued and outstanding as of June 30, 2011 and December 31, 2010 70 70
Common stock - $0.001 par value, 100,000,000 shares authorized, 85,958,536 and 84,776,718 issued and outstanding as of June 30, 2011 and December 31, 2010 85,959 84,777
Additional Paid-in Capital 8,471,759 8,307,874
Stock Subscription Receivable (89,904) (89,904)
Retained Deficit (6,655,194) (6,240,052)
TOTAL STOCKHOLDERS' EQUITY 1,812,690 2,062,765
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,655,898 $ 3,619,614