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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 2,174,748 $ 1,803,131
Accounts receivable 487,893 176,205
Deposits and prepaid expenses 170,914 322,922
Other current receivables 94,647
Total Current Assets 2,833,555 2,396,905
Property and Equipment, net 4,653,188 5,206,825
Deposits 269,342 269,202
Assets Held for Sale 1,000 445,180
Total Other Assets 270,342 714,382
TOTAL ASSETS 7,757,085 8,318,112
Current Liabilities    
Accounts payable and accrued liabilities (excluding accrued PIK Note interest) 526,525 742,745
Accrued PIK Note interest 919,913 880,407
Current portion of notes payable 49,040 210,429
Total Current Liabilities 1,495,478 1,833,581
Long-Term Liabilities    
Long-term portion of notes payable 22,535 33,688
PIK Notes payable, net of $16,632,757 and $17,572,885 debt discount, respectively 19,727,804 17,051,636
PIK Note derivative 3,856,834 5,138,857
Total Long-Term Liabilities 23,607,173 22,224,181
Total Liabilities 25,102,651 24,057,762
Commitments and Contingencies (Note 10)
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, 108,376,049 and 97,144,736 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively 108,376 97,145
Additional paid-in capital 68,221,368 66,106,631
Accumulated deficit prior to the exploration stage (20,009,496) (20,009,496)
Accumulated deficit during the exploration stage (65,665,814) (61,933,930)
Total Stockholders’ Deficit (17,345,566) (15,739,650)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 7,757,085 $ 8,318,112