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Consolidated Statements of Operations (USD $)
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3 Months Ended | 6 Months Ended | 73 Months Ended | ||
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Jun. 30, 2012
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Jun. 30, 2011
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Jun. 30, 2012
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Jun. 30, 2011
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Jun. 30, 2012
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| Consolidated Statements of Operations | |||||
| Net Sales | $ 7,500 | ||||
| Cost of Sales | 3,135 | ||||
| Gross Profit (Loss) | 4,365 | ||||
| Operating Expenses | |||||
| Officers' compensation | 25,000 | 125,000 | |||
| Mine related expenses | 377,500 | 382,500 | 615,000 | ||
| Consulting fees | 817,942 | 15,000 | 877,942 | 30,000 | 955,442 |
| General and administrative | 43,313 | 4,319 | 58,609 | 37,152 | 523,614 |
| Total Operating Expenses | 1,238,755 | 19,319 | 1,344,051 | 67,152 | 2,219,056 |
| Operating loss | (1,238,755) | (19,319) | (1,344,051) | (67,152) | (2,214,691) |
| Interest income | 12 | ||||
| Other income | 17,500 | ||||
| Change in fair value of derivative liability | 446,100 | 1,473,200 | 6,000 | 827,600 | |
| Interest expense | (184,636) | 359 | (209,009) | (94,399) | (813,515) |
| Loss on debt conversion | (4,730,000) | (4,730,000) | (4,730,000) | ||
| Loss on negotiated debt settlement | (26,100) | ||||
| Total other income and (expenses) | (4,468,536) | 359 | (3,465,809) | (88,399) | (4,724,503) |
| Net Income (Loss) | $ (5,707,291) | $ (18,960) | $ (4,809,860) | $ (155,551) | $ (6,939,194) |
| Loss Per Common Share: | |||||
| Basic and Diluted | $ (0.06) | $ (0.06) | $ (0.06) | $ (0.47) | |
| Weighted average number of common shares outstanding: | |||||
| Basic and Diluted | 89,490,297 | 326,731 | 87,274,528 | 330,377 | |
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
Exploration expenses (including prospecting) related to the mining industry would be included in operating expenses. Exploration costs include costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of mineral reserves. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of interest income earned from interest bearing assets not separately disclosed. No definition available.
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Expenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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