XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 441,249 $ 47,652
Accounts receivable 4,492 27,265
Deposits and prepaid expenses 90,953 205,922
Total Current Assets 536,694 280,839
Property and Equipment, net 2,157,429 2,802,391
Other Assets - Deposits 253,176 240,934
TOTAL ASSETS 2,947,299 3,324,164
Current Liabilities    
Accounts payable and accrued liabilities 797,724 963,609
PIK Note interest accrual 338,741 57,334
Current portion of notes payable 66,415 212,134
Total Current Liabilities 1,202,880 1,233,077
Long-Term Liabilities    
PIK Notes payable, net of debt discount of $6,941,703 at June 30, 2018 and $9,755,832 at December 31, 2017, respectively 35,955,200 33,244,605
PIK Note derivative liability 8,748,518 2,047,264
Deferred Rent 7,286 0
Total Long-Term Liabilities 44,711,004 35,291,869
TOTAL LIABILITIES 45,913,884 36,524,946
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, 400,000,000 shares authorized, 173,638,549 and 140,763,549 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 173,639 140,764
Additional paid-in capital 73,748,653 71,152,311
Accumulated deficit prior to the exploration stage (20,009,496) (20,009,496)
Accumulated deficit during the exploration stage (96,879,381) (84,484,361)
Total Stockholders’ (Deficit) (42,966,585) (33,200,782)
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) $ 2,947,299 $ 3,324,164