v2.4.0.8
Condensed Statement of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net (loss) $ (2,216,451) $ (2,537,866)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Shares issued for compensation 0 189,000
Amortization of discount 251,238 225,306
Impairment expense 1,172,547 256,737
Amortization of mineral properties 52,957 86,218
Amortization of prepaid financing costs 31,987 2,477
Recognized (gain) loss on fair market value of derivative liability 0 138,073
Stock and warrants issued for financing 43,886 1,107,886
Gain on forgiveness of debt 0 (322,731)
Loss on sale of mineral properties 0 33,530
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (6,507) 15,528
(Increase) decrease in prepaid expenses 0 29,100
Increase (decrease) in accounts payable and accrued liabilities 295,469 204,222
Increase (decrease) in accrued interest 76,526 175,980
Net cash provided (used) by operating activities (298,348) (396,540)
Cash flows from investing activities    
Proceeds from sale of mineral properties 0 110,500
Acquisition of mineral properties (43,180) (406,744)
Net cash provided (used) by investing activities (43,180) (296,244)
Cash flows from financing activities    
Short-term note from officer, net 0 39,200
Proceeds from sale of common stock 14,500 0
Proceeds from note payable, net 312,266 473,350
Proceeds from convertible debenture 0 198,000
Net cash provided (used) by financing activities 326,766 710,550
Net increase (decrease) in cash (14,762) 17,766
Cash - beginning 16,216 2,609
Cash - ending 1,454 20,375
Supplemental disclosures:    
Interest paid 55,959 107,517
Income taxes paid 0 0
Non-cash transactions:    
Shares issued for compensation 0 189,000
Shares issued for capitalized financing costs 150,000 0
Accounts payable converted to stock 35,800 239,469
Note payable and accrued interest converted to stock $ 218,200 $ 3,375,846