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14. Acquisition Gf&h Company | 12 Months Ended
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Dec. 31, 2014
Notes |
14. Acquisition Gf&h Company | 14. Acquisition GF&H Company On July 11, 2014, the Company completed its acquisition of two thirds of the issued and outstanding common shares of GF&H Company (“GF&H”). NJMC acquired GF&H to further its land holdings in the area of its Golden Chest Property. This transaction was accounted for as a business combination. The Company acquired two thirds of the issued and outstanding common shares of GF&H for $100,000 in cash. GF&H sole asset was 347 acres of land near Murray Idaho; it had no liabilities. A summary of the acquisition is as follows:
| New Jersey Mining Company | Non-controlling Interest |
Consideration | (66 2/3%) | (33 1/3%) | Total
Cash | $100,000 |  | $100,000
Fair value of non-controlling interest |  | $50,000 | $ 50,000
| $100,000 | $50,000 | $150,000
Assets acquired |  |  |
Land and mineral interest |  |  | $150,000
The consolidated statement of operations of the Company for the year ended December 31, 2014 includes expenses incurred by GF&H of $2,577 and no revenue since the acquisition date. GF&H has had minimal operating activity over the past several years. The unaudited pro forma financial information below represents the combined results of the Company’s operations as if the GF&H acquisition had occurred at the beginning of the period presented. The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have occurred if the acquisition had taken place at the beginning of the period presented, nor is it indicative of future operating results. The amounts presented for the year ended December 31, 2014 represent the actual results for the period. It is assumed that GF&H had not revenue or expenses from January 1, 2014 to the acquisition date.
|  | 2014
Revenue: | $ | 92,538
Operating expenses |  | (1,528,667)
Net loss from continuing operations |  | (1,436,129)
Net loss per common share, basic and diluted |  | .02

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