v2.3.0.15
Balance Sheets (Unaudited) (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS  
Cash & cash equivalents$ 271,235$ 1,670,949
Marketable securities462,0001,738,000
Prepaid expenses1,1001,100
Accounts receivable8,5970
Total current assets742,9333,410,049
PROPERTY AND EQUIPMENT  
Plant and mill - idle3,980,0003,980,000
Office equipment9,2049,204
Total property and equipment prior to depreciation3,989,2043,989,204
Less accumulated depreciation(9,102)(8,948)
Total property and equipment3,980,1023,980,256
Total Assets4,723,0357,390,305
LIABILITIES AND STOCKHOLDERS' EQUITY  
Accounts payable and accrued expenses197,854210,713
Deferred wages051,782
Notes payable15,000401,410
Debentures (net)50,000108,542
Accrued interest payable20,425469,006
Total current liabilities283,2791,241,453
Total Liabilities283,2791,241,453
STOCKHOLDERS' EQUITY  
Preferred stock, par value $.01 per share; 10,000,000 shares authorized, 80,000 and 648,887 issued and outstanding8006,489
Common stock, par value $.0001 per share; 2,000,000,000 authorized shares; 14,525,044 and 9,335,445 issued and outstanding shares, respectively1,452934
Additional paid-in capital64,307,07364,172,272
Accumulated (deficit)(59,381,168)(58,616,843)
Accumulated other comprehensive income (loss)(488,400)586,000
Total stockholders' equity4,439,7576,148,852
Total Liabilities and Stockholder's Equity$ 4,723,035$ 7,390,305