v2.4.0.6
Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended 59 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (1,537,429) $ (1,386,562) $ (4,303,541)
Adjustment to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 8,232 8,272 22,619
Stock-based compensation 229,419 644,166 1,081,919
Accretion of debt discount 263,388 249,475 789,049
Gain on forgiveness of debt       (8,000)
Loss on forgiveness of debt 233,062    470,869
(Increase) in prepaid expenses 7,366 (49,091) (10,387)
Decrease in advances to related party    18,416   
(Decrease) increase in accounts payable and accrued liabilities 30,549 25,561 280,186
NET CASH USED IN OPERATING ACTIVITIES (765,413) (489,763) (1,677,286)
CASH FLOWS FROM INVESTING ACTIVITIES      
Website    (7,754) (38,945)
Equipment       (4,957)
Mineral property       (350,000)
Reclamation bond (32,232)    (125,108)
NET CASH USED IN INVESTING ACTIVITIES (32,232) (7,754) (519,010)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from sale of common stock 200,000 900,000 2,612,310
Loans from related party       16,198
Proceeds from notes payable       200,000
Payment on promissory note    (600,000) (600,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 200,000 300,000 2,228,508
NET INCREASE ( DECREASE) IN CASH (597,645) (197,517) 32,212
CASH, BEGINNING OF PERIOD 629,857 520,852   
CASH, END OF PERIOD 32,212 323,335 32,212
Supplemental information:      
Interest paid in cash         
Taxes paid in cash         
Supplemental cash flow information and noncash financing activities:      
Cancellation of shares       115,000
Common stock payable for property acquisition       2,405,500
Promissory notes issued for property       16,198
Forgiveness of debt by former director 867,500 1,106,410 1,973,910
Common stock issued to satisfy common stock payable       $ 464,410