v2.4.0.6
Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended 12 Months Ended 50 Months Ended 56 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES            
Net loss $ (1,141,719) $ (1,012,837) $ (1,952,064) $ (777,221) $ (2,766,112) $ (3,907,831)
Adjustment to reconcile net loss to net cash used in operating activities            
Depreciation and amortization 5,488 5,528 11,016 3,371 14,387 19,875
Stock-based compensation 205,836 558,333 692,500 160,000 852,500 1,058,336
Accretion of debt discount 157,626 170,662 328,287 197,374 525,661 683,287
Gain on forgiveness of debt 0 0 0 (8,000) (8,000) (8,000)
Loss on forgiveness of debt 233,062 0 0 237,807 237,807 470,869
(Increase) in prepaid expenses (28,318) (48,629) (11,429) (6,324) (17,753) (46,071)
(Increase) decrease in advances to related party 0 18,416 18,416 (18,416) 0 0
(Decrease) increase in accounts payable and accrued liabilities (96,442) 25,074 222,909 13,472 249,637 153,195
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (664,467) (283,453) (690,365) (197,937) (911,873) (1,576,340)
CASH FLOWS FROM INVESTING ACTIVITIES            
Website 0 (7,754) (7,754) (31,191) (38,945) (38,945)
Equipment 0 0 0 (4,957) (4,957) (4,957)
Mineral property 0 0 0 (350,000) (350,000) (350,000)
Reclamation bond (32,232) 0 (92,876) 0 (92,876) (125,108)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (32,232) (7,754) (100,630) (386,148) (486,778) (519,010)
CASH FLOWS FROM FINANCING ACTIVITIES            
Proceeds from sale of common stock 200,000 900,000 1,500,000 900,000 2,412,310 2,612,310
Loans from related party 0 0 0 4,790 16,198 16,198
Proceeds from notes payable 0 0 0 200,000 200,000 200,000
Payment on promissory note 0 (400,000) (600,000) 0 (600,000) (600,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 200,000 500,000 900,000 1,104,790 2,028,508 2,228,508
NET INCREASE ( DECREASE) IN CASH (496,699) 208,793 109,005 520,705 629,857 133,158
CASH, BEGINNING OF PERIOD 629,857 520,852 520,852 147    
CASH, END OF PERIOD 133,158 729,645 629,857 520,852 629,857 133,158
Supplemental information:            
Interest paid in cash 0 0 0 0 0 0
Taxes paid in cash 0 0 0 0 0 0
Supplemental cash flow information and noncash financing activities:            
Common stock payable for property acquisition 0 0 0 115,000 115,000 115,000
Promissory notes issued for property 0 0 0 2,405,500 2,405,500 2,405,500
Forgiveness of debt by former director 0 0 0 16,198 16,198 16,198
Common stock issued to satisfy common stock payable 867,500 500,000 1,106,410 0 1,106,410 1,973,910
Conversion of debt totalling $208,603, (including interest of $8,603) for common stock $ 0 $ 0 $ 0 $ 446,410 $ 446,410 $ 464,410