v2.4.0.8
Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current Asset    
Cash   $ 1,040
Total current assets   1,040
PROPERTY AND EQUIPMENT, NET: 328 350
OTHER ASSETS:    
Depository payment towards acquisition of iron ore mine 250,000 250,000
TOTAL ASSETS 250,328 251,390
LIABILITIES:    
Accounts Payable 223,815 164,215
Cash overdraft 4,937  
Taxes payable 10,716 8,716
Accrued interest payable 26,065 15,193
Due to stockholders 12,500 7,302
Loans payable 205,000 205,000
Convertible debentures, net of debt discount of $26,000 and $0 as of March 31, 2012 and December 31, 2011 54,500 48,000
Derivative liability 377,600 1,372,600
Total current liabilities 915,133 1,821,026
Convertible debentures, net of debt discount of $137,000 and $144,400 as of March 31, 2012 and December 31, 2011, net of current portion 263,000 255,600
Total liabilities 1,178,133 2,076,626
STOCKHOLDERS' DEFICIENCY:    
Convertible Preferred Stock Class A, no par value, 100,000 shares authorized at March 31, 2012 and at December 31, 2011.Issued and outstanding 20,000 shares at March 31, 2012 and December 31, 2011. 46,000 46,000
Convertible Preferred Stock Class B, no par value, 400,000 shares authorized at March 31, 2012 and at December 31, 2011. None issued and outstanding at March 31, 2012 and December 31, 2011.      
Preferred Stock Class C, no par value, 50,000 shares authorized at March 31, 2012 and at December 31, 2011.Issued and outstanding 20,000 shares at March 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 85,058,759 shares at March 31, 2012 and December 31, 2011 85,059 85,059
Additional paid in capital 164,039 164,039
Deficit accumulated during the development stage (1,231,903) (2,129,334)
Total stockholder's deficiency (927,805) (1,825,236)
Total liabilities and stockholder's deficiency $ 250,328 $ 251,390