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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2015
Dec. 31, 2014
Current Assets    
Cash and cash equivalents $ 7,731,293 $ 10,701,666
Accounts receivable 144,270 112,831
Deposits and prepaid expenses 252,510 289,644
Total Current Assets 8,128,073 11,104,141
Property and Equipment, net 6,729,652 7,055,874
Other Assets    
Deferred Financing Costs 26,875 28,750
Deposits 268,992 268,937
Total Other Assets 295,867 297,687
TOTAL ASSETS 15,153,592 18,457,702
Current Liabilities    
Accounts payable and accrued liabilities 2,491,508 2,608,364
Current portion of notes payable 142,417 246,894
Total Current Liabilities 2,633,925 2,855,258
Long-Term Liabilities    
Long-term portion of notes payable 50,064 59,145
PIK notes payable, net of $18,195,280 and $18,400,297 debt discount, respectively 13,808,269 13,024,439
PIK Note derivatives 10,154,753 10,035,625
Total Long-Term Liabilities 24,013,086 23,119,209
Total Liabilities 26,647,011 25,974,467
Stockholders’ Deficit    
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized, 95,450,047 and 95,054,552 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively 95,450 95,055
Additional paid-in capital 64,743,885 64,526,469
Accumulated deficit prior to the exploration stage (20,009,496) (20,009,496)
Accumulated deficit during the exploration stage (56,323,258) (52,128,793)
Total Stockholders’ Deficit (11,493,419) (7,516,765)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 15,153,592 $ 18,457,702