v2.4.0.8
Condensed Statement of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities    
Net (loss) $ (2,667,235) $ (3,303,136)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Shares issued for compensation 0 189,000
Amortization of discount 367,127 243,590
Impairment expense 1,172,547 565,737
Amortization of mineral properties 52,957 105,880
Amortization of prepaid financing costs 56,477 6,737
Recognized (gain) loss on fair value of derivative liability 0 5,265
Stock and warrants issued for financing 95,050 1,424,394
Gain on forgiveness of debt 0 (322,731)
Gain on sale of mineral properties 0 (2,621)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (58) 32,682
(Increase) decrease in prepaid expenses 0 48,518
Increase (decrease) in accounts payable and accrued liabilities 354,637 395,313
Increase (decrease) in accrued interest 130,411 183,521
Net cash used by operating activities (438,087) (427,851)
Cash flows from investing activities    
Proceeds from sale of mineral properties 0 69,500
Acquisition of mineral properties (43,180) (355,242)
Net cash used by investing activities (43,180) (285,742)
Cash flows from financing activities    
Short-term note from officer 0 39,200
Proceeds from sale of common stock 60,278 0
Proceeds from notes payable 420,566 688,000
Net cash provided by financing activities 480,844 727,200
Net increase (decrease) in cash (423) 13,607
Cash - beginning 16,216 2,609
Cash - ending 15,793 16,216
Supplemental disclosures:    
Interest paid 77,973 117,391
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 41,548 239,469
Note payable and accrued interest converted to stock $ 339,294 $ 3,375,846