XML 37 R10.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Notes Payable | 12 Months Ended
--- | ---
Dec. 31, 2011
Notes Payable [Text Block] | 4. Notes Payable
At December 31, 2011 and 2010, notes payable are as follows: |  | 2011 |  |  | 2010 |
2006 Dodge pickup 60 month note payable, 0.00% interest rate; collateralized by pickup, monthly payments of $557 | $ |  |  | $ | 2,786 |
2011 Dodge pickup 36 month note payable, 0.00% interest rate, collateralized by pickup, monthly payments of $740 |  | 19,220 |  |  |  |
2005 Dodge Pickup 48 month note payable, 8.04% interest rate payable monthly, collateralized by pickup, monthly payments of $420 |  | 15,602 |  |  |  |
Hagby Diamond Drill 48 month note payable, 8.00% interest rate payable monthly, collateralized by drill, monthly payments of $4,093 |  |  |  |  | 35,642 |
Hagby Diamond Drill 36 month note payable, 6.9% interest rate payable monthly, collateralized by drill and guaranteed by President Fred Brackebusch and Vice President Grant Brackebusch, monthly payments of $6,290 |  | 167,560 |  |  |  |
Caterpillar 305 Excavator 48 month note payable, 7.81% interest rate payable monthly, collateralized by excavator, monthly payments of $956 |  |  |  |  | 4,685 |
Property with shop 36 month note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, monthly payments of $474 |  | 56,025 |  |  | 58,875 |
Property 39 month note payable, 5.0% interest rate payable monthly, collateralized by property, monthly payments of $1,000 |  | 28,221 |  |  |  |
Property 120 month note payable, 11.0% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $1,122 |  | 115,189 |  |  |  |
Bobcat 50 month note payable, 0.00% interest rate collateralized by bobcat, monthly payments of $725 |  | 8,696 |  |  | 17,393 |
Total notes payable |  | 410,513 |  |  | 119,381 |
Due within one year |  | 102,151 |  |  | 54,661 |
Due after one year | $ | 308,362 |  | $ | 64,720 |
Maturities of debt outstanding at December 31, 2011 are as follows:
2012 | $102,151
2013 | 149,151
2014 | 44.049
2015 | 3,957
2016 | 1.300
Thereafter | 109,905
| $410,513

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration