XML 20 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
New Jersey Mining Company Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Cash flows from operating activities:    
Net loss $ (282,088) $ (1,436,129)
Adjustments to reconcile net loss to net cash (used) by operating activities    
Depreciation and amortization 150,367 46,360
(Gain) loss on sale of equipment (6,000) 34,878
Gain of forfeiture of milling advance (125,000)  
Gain on sale of marketable equity security   $ (24,741)
Amortization of discount on note payable 27,350  
Gain on remeasurement of previously held equity interest (164,696) [1] [1]
Accretion of asset retirement obligation 5,290 $ (4,608)
Impairment of mineral property 95,598  
Stock based compensation 148,344 201,927
Change in operating assets and liabilities    
Joint venture receivables 25,013 6,122
Milling receivables 77,038 (81,165)
Other current assets (7,909) (12,975)
Accounts payable (25,163) 37,706
Accrued payroll and related payroll expense (35,449) 27,944
Net cash (used) by operating activities (117,305) (1,204,681)
Cash flows from investing activities:    
Purchases of property, plant and equipment (133,260) (600,869)
Purchase of controlling interest in GF&H   (100,000)
Deposit on equipment (13,982)  
Purchase of controlling interest in GCJV (180,000)  
Cash acquired in purchase of controlling interest in GCJV 524  
Proceeds from sale of mineral property 10,000 10,000
Note receivable   (58,386)
Proceeds from sale of marketable equity security   28,610
Proceeds from sale of equipment   76,676
Net cash provided (used) by investing activities (316,718) (643,970)
Cash flows from financing activities:    
Sales of common stock and warrants, net of issuance costs   1,485,000
Principal payments on notes payable (271,052) (95,870)
Principal payments on capital lease   (26,367)
Milling advance (75,000) 200,000
Note from related party 550,000  
Principal payments on note and other payables, related party (44,174) (36,701)
Proceeds from non-controlling interest   22,986
Net cash provided by financing activities 159,774 1,549,048
Net change in cash and cash equivalents (274,249) (299,603)
Cash and cash equivalents, beginning of year 336,524 636,127
Cash and cash equivalents, end of year 62,275 336,524
Supplemental disclosure of cash flow information    
Interest paid in cash, net of amount capitalized 22,722 17,294
Non-cash investing and financing activities:    
Non-controlling interest in GF&H Company   50,000
Deposit on equipment applied to purchase of equipment 12,480  
Property exchanged on elimination of debt 175,000  
Purchase of property and equipment with note payable $ 92,320 $ 175,000
[1] Notes 9 and 15