v2.4.0.8

Condensed Statements of Operations (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012
Revenue | $ 141,221 | $ 308,770
Cost of Goods Sold |  |
Production and amortization | 122,529 | 193,674
Gross profit | 18,692 | 115,096
General and administrative | 570,759 | 575,783
Executive compensation | 204,000 | 481,000
Impairment expense | 1,172,547 | 565,737
Total expenses | 1,947,306 | 1,622,520
Net loss before other income (expense) | (1,928,614) | (1,507,424)
Other income (expense): |  |
Gain (loss) on sale of mineral properties | 0 | 2,621
Gain on forgiveness of debt | 0 | 322,731
Gain (loss) on derivative liability | 0 | (5,265)
Interest expense | (738,621) | (2,115,799)
Total other income (expense) | (738,621) | (1,795,712)
Net loss before income taxes | (2,667,235) | (3,303,136)
Provision for income taxes | 0 | 0
Net loss | (2,667,235) | (3,303,136)
Other comprehensive income (expense) | (4,706) | 8,114
Comprehensive loss | $ (2,671,941) | $ (3,295,022)
Weighted average common shares outstanding - basic and fully diluted | 63,202,455 | 44,476,603
Net loss per common share basic and fully diluted | $ (0.04) | $ (0.07)

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