v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash $ 359 $ 1,040
PROPERTY AND EQUIPMENT - Net 306 350
OTHER ASSETS    
Depository payment towards acquisition of iron ore mine 350,000 250,000
Prepaid Expenses 470,000  
Total Other Assets 820,000 250,000
TOTAL ASSETS 820,665 251,390
Current Liabilites    
Accounts Payable 762,111 164,215
Taxes payable 8,716 8,716
Accrued interest payable 82,685 15,193
Due to stockholders 6,000 7,302
Loans payable 311,000 205,000
Convertible debentures, net of debt discount of $0 and $0 as of December 31, 2012 and December 31, 2011 38,000 48,000
Derivative liability 209,100 1,372,600
Total Current Liabilites 1,417,612 1,821,026
Convertible debentures, net of debt discount of $467,200 and $144,400 as of December 31, 2012 and December 31, 2011, net of current portion 362,800 255,600
Total liabilities 1,780,412 2,076,626
Stockholders' Deficit (Note 8)    
Convertible Preferred Stock Class A, no par value, 100,000 shares authorized at December 31, 2012 and at December 31, 2011. Issued and outstanding 20,000 shares at December 31, 2012 and December 31, 2011. 46,000 46,000
Convertible Preferred Stock Class B, no par value, 400,000 shares authorized at December 31, 2012 and at December 31, 2011. None issued and outstanding at December 31, 2012 and December 31, 2011.      
Preferred Stock Class C, no par value, 50,000 shares authorized at December 31, 2012 and at December 31, 2011. Issued and outstanding 20,000 shares at December 31, 2012 and December 31, 2011. 9,000 9,000
Common stock, par value $.001 per share; authorized 500,000,000 shares, issued and outstanding 128,824,857 and 85,058,759 shares at December 31, 2012 and December 31, 2011. 128,825 85,059
Additional Paid in Capital 11,242,054 164,039
Deficit Accumulated During the Development Stage (neg) (12,385,626) (2,129,334)
Total Stockholders' Deficit (959,747) (1,825,236)
Total Liabilities and Stockholders' Deficit $ 820,665 $ 251,390