XML 58 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 20,343 $ 1,000,811
Certificates of deposit 246,565 243,616
Accounts receivable, net 576,021 456,159
Inventories 1,034,770 1,192,189
Other current assets 32,865 170,529
Deferred tax asset 0 39,824
Total current assets 1,910,564 3,103,128
Properties, plants and equipment, net 12,395,645 9,508,975
Restricted cash for reclamation bonds 75,501 75,251
Deferred tax asset 0 189,627
Other assets 509,281 498,496
Total assets 14,890,991 13,375,477
Current liabilities:    
Accounts payable 1,734,767 1,181,225
Due to factor 177,701 23,536
Accrued payroll, taxes and interest 124,937 89,541
Other accrued liabilities 50,745 30,220
Payables to related parties 15,549 17,522
Deferred revenue 110,138 0
Notes payable to bank 138,520 0
Long-term debt, current 126,984 280,597
Total current liabilities 2,479,341 1,622,641
Long-term debt, net of discount and current portion 1,002,215 157,466
Stock payable to directors for services 150,000 0
Asset retirement obligation and accrued reclamation costs 257,580 249,540
Total liabilities 3,889,136 2,029,647
Commitments and contingencies (Note 4 and 15)      
Stockholders' equity:    
Preferred stock $0.01 par value, 10,000,000 shares authorized: Series A: -0- shares issued and outstanding 0 0
Series B: 750,000 shares issued and outstanding (liquidation preference $892,500 and $885,000, respectively) 7,500 7,500
Series C: 177,904 shares issued and outstanding (liquidation preference $97,847 both years) 1,779 1,779
Series D: 1,751,005 shares issued and outstanding (liquidation preference $4,796,731 and $4,755,582, respectively) 17,509 17,509
Common stock, $0.01 par vaue, 90,000,000 shares authorized; 63,156,206 and 61,896,726 shares issued and outstanding, respectively 631,562 618,966
Additional paid-in capital 32,030,249 30,745,650
Accumulated deficit (21,686,744) (20,045,574)
Total stockholders' equity 11,001,855 11,345,830
Total liabilities and stockholders' equity $ 14,890,991 $ 13,375,477