v2.4.0.6
Condensed Statement of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities    
Net (loss) $ (904,301) $ (560,061)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Shares issued for compensation 189,000  
Amortization of discount 202,517 271,555
Impairment expense 256,737  
Amortization of mineral properties 36,342 7,051
Gain on forgiveness of debt (86,746) 0
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 1,239 404
(Increase) decrease in prepaid expenses 18,110 8,373
Increase (decrease) in accounts payable and accrued liabilities 64,350 52,342
Increase (decrease) in accrued interest 132,604 90,923
Net cash used by operating activities (90,148) (129,413)
Cash flows from investing activities    
Proceeds from sale of mineral properties 65,000  
Acquisition of mineral properties (158,400) (309,000)
Net cash used by investing activities (93,400) (309,000)
Cash flows from financing activities    
Proceeds from convertible debenture 188,250 436,861
Net cash provided by financing activities 188,250 436,861
Net increase (decrease) in cash 4,702 (1,552)
Cash - beginning 2,609 3,225
Cash - ending 7,311 1,673
Supplemental disclosures:    
Interest paid 29,250 48,750
Income taxes paid      
Non-cash transactions:    
Shares issued for compensation 189,000  
Accounts Payable
    
Non-cash transactions:    
Conversion of stock 40,000  
Notes Payable
    
Non-cash transactions:    
Conversion of stock $ 2,778,641