Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
12 Months Ended 20 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Income Statement [Abstract]      
Net revenues         
Operating expenses:      
Payroll expense and stock based compensation 3,875,049 527,370 4,385,418
Management fees - related party 300,000 155,000 300,000
Exploration cost 115,832 156,363 272,195
Impaiment of mineral rights    500,000 500,000
Professional and consulting 280,770 263,746 589,019
General and administrative expenses 98,551 341,233 416,125
Total operating expenses 4,670,201 1,943,712 6,462,757
Loss from operations (4,670,201) (1,943,712) (6,462,757)
Other income (expense)      
Gain from settlement of debt    28,244   
Interest expense, net (127,483) (658,155) (488,807)
Derivative liability expense (174,128)    (174,128)
Change in fair value of derivative liabilities 160,740 (6,148,651) (520,200)
Total other expense, net (140,871) (6,778,562) (1,183,135)
Loss before provision for income taxes (4,811,072) (8,722,274) (7,645,892)
Provision for income taxes         
Net loss $ (4,811,072) $ (8,722,274) $ (7,645,892)
NET LOSS PER COMMON SHARE:      
Basic and Diluted $ (0.02) $ (0.04) $ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted 249,271,259 220,095,090 224,804,659