v2.4.0.6
Condensed Statements of Operations (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue $ 78,671 $ 93,873 $ 266,348 $ 214,075
Cost of Goods Sold        
Production and amortization 52,006 63,408 172,226 150,749
Gross profit 26,665 30,465 94,122 63,326
General and administrative 157,681 111,726 414,777 398,780
Executive compensation 69,000 66,000 430,000 504,000
Impairment expense 0 0 256,737 0
Total expenses 226,681 177,726 1,101,514 902,780
Net loss before other income (expense) (200,016) (147,261) (1,007,392) (839,454)
Other income (expense):        
Gain (loss) on sale of mineral properties (33,530) 0 (33,530) 0
Gain on forgiveness of debt 0 0 322,731 0
Gain (loss) on derivative liability (138,073) 0 (138,073) 0
Amortization of debt discount 13,236 0 13,236 0
Amortization of prepaid financing costs (2,477) 0 (2,477) 0
Interest expense (1,205,185) (480,913) (1,665,889) (1,264,273)
Total other income (expense) (1,392,501) (480,913) (1,530,474) (1,264,273)
Net loss before income taxes (1,592,517) (628,174) (2,537,866) (2,103,727)
Provision for income taxes 0 0 0 0
Net loss (1,592,517) (628,174) (2,537,866) (2,103,727)
Other comprehensive income (expense) 0 0 8,114 0
Comprehensive loss $ (1,592,517) $ (628,174) $ (2,529,752) $ (2,103,727)
Weighted average common shares outstanding - basic and fully diluted 47,470,406 28,303,418 42,307,840 27,298,606
Net (loss) per share - basic and fully diluted $ (0.034) $ (0.022) $ (0.06) $ (0.077)