v2.4.0.6
Statements of Cash Flows (USD $)
 12 Months Ended 62 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (1,735,856) $ (1,952,064) $ (4,501,968)
Adjustment to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 10,976 11,016 25,363
Stock-based compensation 251,336 692,500 1,103,836
Accretion of debt discount 326,382 328,287 852,043
Gain on extinguishment of debt 0 0 (8,000)
Loss on extinguishment of debt 233,062 0 470,869
(Increase) decrease in prepaid expenses 8,733 (11,429) (9,020)
Decrease in advances to related party    18,416   
Increase in accounts payable and accrued liabilities 7,319 222,909 256,956
NET CASH USED IN OPERATING ACTIVITIES (898,048) (690,365) (1,809,921)
CASH FLOWS FROM INVESTING ACTIVITIES      
Website 0 (7,754) (38,945)
Equipment 0 0 (4,957)
Mineral property 0 0 (350,000)
Reclamation bond (32,232) (92,876) (125,108)
NET CASH USED IN INVESTING ACTIVITIES (32,232) (100,630) (519,010)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from bank overdraft 423 0 423
Proceeds from sale of common stock 300,000 1,500,000 2,712,310
Loans from related party 0 0 16,198
Proceeds from notes payable 0 0 200,000
Payment on promissory note 0 (600,000) (600,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 300,423 900,000 2,328,931
NET INCREASE ( DECREASE) IN CASH (629,857) 109,005 0
CASH, BEGINNING OF PERIOD 629,857 520,852 0
CASH, END OF PERIOD 0 629,857 0
Supplemental information:      
Interest paid in cash 31,250 0 31,250
Taxes paid in cash 0 0 0
Supplemental cash flow information and noncash financing activities:      
Common stock payable for property 0 0 115,000
Promissory notes issued for property 0 0 2,405,500
Forgiveness of debt by former director 0 0 16,198
Common stock issued to satisfy common stock payable 867,500 1,106,410 1,973,910
Conversion of debt totalling $208,603, (including interest of $8,603) for common stock $ 0 $ 0 $ 464,610