v2.4.0.6
Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2012
Dec. 31, 2011
ASSETS    
Cash & cash equivalents $ 78,032 $ 118,835
Marketable securities 430,630 458,825
Prepaid expenses 1,100 1,100
Accounts receivable 7,797 6,744
Total current assets 517,560 585,504
PROPERTY AND EQUIPMENT    
Plant and mill - idle 3,980,000 3,980,000
Office equipment 9,204 9,204
Total property and equipment prior to depreciation 3,989,204 3,989,204
Less accumulated depreciation (9,204) (9,153)
Total property and equipment 3,980,000 3,980,051
Total Assets 4,497,560 4,565,555
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 56,646 43,244
Notes payable 15,000 15,000
Debentures (net) 50,000 50,000
Accrued interest payable 23,031 21,734
Total current liabilities 144,678 129,978
Total Liabilities 144,678 129,978
Commitments and contingencies      
STOCKHOLDERS' EQUITY    
Preferred stock, par value $.01 per share; 10,000,000 shares authorized, 80,000 and 648,887 issued and outstanding 800 800
Common stock, par value $.0001 per share; 2,000,000,000 authorized shares;14,625,044 and 9,335,445 issued and outstanding shares, respectively 1,462 1,462
Additional paid-in capital 64,352,063 64,337,063
Accumulated (deficit) (59,689,087) (59,459,693)
Accumulated other comprehensive income (loss) (312,355) (444,055)
Total stockholders' equity 4,352,883 4,435,577
Total Liabilities and Stockholder's Equity $ 4,497,560 $ 4,565,555