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1) Nature of Business and Basis of Presentation
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12 Months Ended |
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Dec. 31, 2012
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| Notes | |
| 1) Nature of Business and Basis of Presentation | 1) NATURE OF BUSINESS AND BASIS OF PRESENTATION
All Grade Mining, Inc. and Subsidiary (a development stage company) (the Company) is a corporation organized under the laws of the State of Colorado. The Company is currently engaged in the acquisition and exploration of mining properties and maintains its corporate offices in Hackensack, New Jersey.
The Company former principal business was the development and production of therapeutic horseshoes.
The Company has generated nominal revenues to date; accordingly, the Company is considered a development stage enterprise as defined in the Accounting Standards Codification 915 Development Stage Entities. The Company is subject to a number of risks similar to those of other companies in an early stage of development.
In June 2010, the Board of Directors voted to increase the number of authorized common shares to 500,000,000.
The Company discontinued its focus in the therapeutic horseshoe industry in November 2011. The Company has refocused its efforts on raising capital and developing markets for the mining industry and on November 22, 2011 the Company changed its name to All Grade Mining, Inc. to reflect the change in its core business. Concurrent with the change in name, the Companys Board of Directors voted to complete a reverse split of its authorized common voting shares in the ratio of 500:1. All share and per share amounts have been restated for all periods presented to reflect this reverse stock split. The Company is currently engaged in the acquisition and exploration of mining properties. |