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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 1,049,880 $ 1,803,131
Accounts receivable 364,952 176,205
Deposits and prepaid expenses 371,206 322,922
Other current receivables 16,801 94,647
Total Current Assets 1,802,839 2,396,905
Property and Equipment, net 4,075,176 5,206,825
Deposits 200,524 269,202
Assets held for Sale 1,000 445,180
Total Other Assets 201,524 714,382
TOTAL ASSETS 6,079,539 8,318,112
Current Liabilities    
Accounts payable and accrued liabilities 622,331 742,745
PIK Notes interest accrual 961,395 880,407
Current portion of notes payable 234,149 210,429
Total Current Liabilities 1,817,875 1,833,581
Long-Term Liabilities    
Long-term portion of notes payable 13,073 33,688
PIK Notes payable, net of $15,143,123 (2016) and $17,572,885 (2015) debt discount 23,040,093 17,051,636
PIK Note derivative liability 2,176,552 5,138,857
Total Long-Term Liabilities 25,229,718 22,224,181
Total Liabilities 27,047,593 24,057,762
Commitments
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 250,000,000 and 200,000,000 shares authorized, and 108,613,549 and 97,144,736 shares issued and outstanding at December 31, 2016 and 2015, respectively 108,614 97,145
Additional paid-in capital 68,506,530 66,106,631
Accumulated deficit prior to the exploration stage (20,009,496) (20,009,496)
Accumulated deficit during the exploration stage (69,573,702) (61,933,930)
Total Stockholders’ (Deficit) (20,968,054) (15,739,650)
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) $ 6,079,539 $ 8,318,112