Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
9 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2011
Dec. 31, 2010
Income Statement [Abstract]      
Net revenues         
Operating expenses:      
Payroll expense and stock based compensation 510,370 527,370 1,069,500
Exploration cost 156,363 156,363   
Impaiment of mineral rights 500,000 500,000   
Professional and consulting 308,249 418,746 2,885,571
General and administrative expenses 317,574 341,233 333,614
Total operating expenses 1,792,556 1,943,712 4,288,685
Loss from operations (1,792,556) (1,943,712) (4,288,685)
Other income (expense)      
Gain from settlement of debt    (28,244)   
Interest income (expense), net (361,324) (658,155) (439,788)
Derivative liability expense       (3,260,076)
Change in fair value of derivative liabilities (680,940) (6,148,651) (2,490,252)
Total other expenses (1,042,264) (6,778,562) (6,190,116)
Loss before provision for income taxes (2,834,820) (8,722,274) (10,478,801)
Provision for income taxes         
Loss from continuing operations (2,834,820) (8,722,274) (10,478,801)
Loss from discontinued operations, net of tax       (1,100,605)
Net Loss $ (2,834,820) $ (8,722,274) $ (11,579,406)
Loss per common share, basic and diluted:      
Loss from continuing operations $ (0.01) $ (0.04) $ (0.06)
Loss from discontinued operations       $ (0.01)
Earnings per share, basic and diluted $ (0.01) $ (0.04) $ (0.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted 211,081,555 202,095,090 179,382,182